US Codex
Bill
Notes

S. 526 — what changed

Microloan Modernization Act of 2018

From Reported in Senate to Engrossed in Senate. 3 sections amended and 1 removed between Reported in Senate and Engrossed in Senate.

Section 1 Short title

changed This Act may be cited as the “Microloan Modernization Act of 2017”.2018”.

Sec. 4 SBA study of microenterprise participation

changed Section 7(m)(4) Not later than 1 year after the date of enactment of this Act, the Administrator of the Small Business Act (15 U.S.C. 636(m)(4)) is amended—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—

(1)
changed by striking subparagraph (E); andthe operations (including services provided, structure, size, and area of operation) of a representative sample of—
(A)
added intermediaries that are eligible to participate in the microloan program and that do participate; and
(B)
added intermediaries (including those operated for profit, operated 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;
(2)
changed by redesignating subparagraph (F) as subparagraph (E).the reasons why intermediaries described in paragraph (1)(B) choose not to participate in the microloan program;
(3)
added recommendations on how to encourage increased participation in the microloan program by intermediaries described in paragraph (1)(B); and
(4)
added recommendations on how to decrease the costs associated with participation in the microloan program for eligible intermediaries.

Sec. 5 GAO study on microloan intermediary practices

changed Not later than 1 year after the date of enactment of this Act, the Administrator Comptroller General of the Small Business Administration United States 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—evaluating—

(1)
changed the operations (including services provided, structure, size, and area oversight of operation) the microloan program by the Small Business Administration, including oversight of a representative sample of—intermediaries participating in the microloan program; and
(A)
removed intermediaries that are eligible to participate in the microloan program and that do participate; and
(B)
removed intermediaries (including those operated for profit, operated 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;
(2)
changed the reasons why intermediaries described in paragraph (1)(B) choose not to participate in specific processes used by the microloan program;Small Business Administration to ensure—
(A)
added compliance by intermediaries participating in the microloan program; and
(B)
added the overall performance of the microloan program.
(3)
removed recommendations on how to encourage increased participation in the microloan program by intermediaries described in paragraph (1)(B); and
(4)
removed recommendations on how to decrease the costs associated with participation in the microloan program for eligible intermediaries.

Sec. 6 GAO study on microloan intermediary practices

removed

removed Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall 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 evaluating—

(1)
removed oversight of the microloan program by the Small Business Administration, including oversight of intermediaries participating in the microloan program; and
(2)
removed the specific processes used by the Small Business Administration to ensure—
(A)
removed compliance by intermediaries participating in the microloan program; and
(B)
removed the overall performance of the mi­cro­loan program.