House Bill 2488
115th Congress(2017-2018)
Puerto Rico Small Business Assistance Act of 2017
Introduced
Introduced in House on May 17, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2488
Congress
115
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Puerto Rico Small Business Assistance Act of 2017
This bill amends the Small Business Act regarding small businesses that have their principal office in Puerto Rico, including to temporarily:
- increase the total amount of loans outstanding and committed to any microloan intermediary if at least 20% of the intermediary's loans are made to such businesses;
- waive the Small Business Administration (SBA) Microloan Program's limit on an intermediary's spending on technical assistance for prospective borrowers if 25% of the intermediary's loans are made to these businesses;
- reduce or eliminate SBA fees on certain loans to such businesses; and
- give federal contract preference to such businesses, transfer specified technology or surplus property to them, and provide subcontracting incentives for their protege firms.
The SBA shall establish: (1) a Veteran Business Outreach Center in Puerto Rico, and (2) a temporary Federal and State Technology (FAST) grant program to provide assistance to Puerto Rico businesses.
The SBA district office in Puerto Rico must temporarily report annually to Congress and the SBA on its activities in Puerto Rico.
May 17, 2017
05/17/2017
Referred to the House Committee on Small Business.
05/17/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:36:44 PM