House Bill 6078
116th Congress(2019-2020)
Microloan Transparency and Accountability Act of 2020
Active
Passed House on Sep 14, 2020
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
6078
Congress
116
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.
checkPassed on September 14, 2020
Status
Passed
Type
Voice Vote
Voice Vote
A vote in which the presiding officer states the question, then asks those in favor and against to say "Yea" or "Nay," respectively, and announces the result according to his or her judgment. The names or numbers of senators voting on each side are not recorded.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Summary
Microloan Transparency and Accountability Act of 2020
This bill modifies provisions related to the Small Business Administration's (SBA) disbursement of certain financial assistance.
Specifically, the bill establishes a 5% technical assistance grant for intermediaries who make 25% of their loans to rural small businesses. Further, the bill requires the SBA to report certain metrics related to the disbursement of microloans to small businesses, including (1) the number, amount, and percentage of such loans that went into default in the previous year; (2) the extent to which microloans are provided to small businesses in rural areas; and (3) the average size, rate of interest, and amount of fees charged for each microloan.
September 15, 2020
September 14, 2020
March 4, 2020
09/15/2020
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
09/14/2020
Motion to reconsider laid on the table Agreed to without objection.
09/14/2020
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4347)
09/14/2020
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
09/14/2020
DEBATE - The House proceeded with forty minutes of debate on H.R. 6078.
09/14/2020
Considered under suspension of the rules. (consideration: CR H4347-4348)
09/14/2020
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
03/11/2020
Ordered to be Reported by Voice Vote.
03/11/2020
Committee Consideration and Mark-up Session Held.
03/04/2020
Referred to the House Committee on Small Business.
03/04/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:04 PM