S. 2850 — what changed
Microloan Program Modernization Act of 2016
From Introduced in Senate to Reported in Senate. 2 sections amended between Introduced in Senate and Reported in Senate.
Sec. 4 Elimination of 25/75 rule
changed
Section 7(m)(4) of the Small Business Act (15 U.S.C. 636(m)) 636(m)(4)) is amended—
by striking subparagraph (E); and
by redesignating subparagraph (F) as subparagraph (E).
Sec. 5 SBA study of microenterprise participation
Not later than 1 year after the date of enactment of this Act, the Administrator of the Small Business Administration shall conduct a study and submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on—
the operations (including services provided, structure, size, and area of operation) of a representative sample of—
intermediaries that are eligible to participate in the microloan program and that do participate; and
changed
intermediaries (including those operated for profit, operated as non-profits, non-profits not for profit, and those affiliated with a United States institution of higher learning) that are eligible to participate in the microloan program and that do not participate;
the reasons why intermediaries described in paragraph (1)(B) choose not to participate in the microloan program;
recommendations on how to encourage increased participation in the microloan program by intermediaries described in paragraph (1)(B); and
recommendations on how to decrease the costs associated with participation in the microloan program for eligible intermediaries.