US Congress Senate Bill 996 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on April 2 2019 - 25% progression, died in chamber
Action: 2020-06-03 - Committee on Small Business and Entrepreneurship. Hearings held.
Text: Latest bill text (Introduced) [PDF]

Expands access to financing through the Microloan Program of the Small Business Administration (SBA). Specifically, the bill eliminates a restriction that prevents the SBA from distributing more than 1/55th of its funding in any state during the first half of the year. The bill also raises the cap on the total amount that may be committed to an intermediary to provide loans under the program. Lastly, the bill sets program levels for technical assistance grants and direct loans through FY2022.

Microloan Program Enhancement Act of 2019

Sen. Tammy Duckworth [D-IL]

Sen. Richard Durbin [D-IL]

Date	Chamber	Action
2020-06-03	Senate	Committee on Small Business and Entrepreneurship. Hearings held.
2019-04-02	Senate	Read twice and referred to the Committee on Small Business and Entrepreneurship.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/996/all-info
Text	https://www.congress.gov/116/bills/s996/BILLS-116s996is.pdf