Microloan Program Technical Corrections Act of 1999 - Amends provisions of the Small Business Act relating to the Microloan Program (a program making loans to small businesses for startup or materials and equipment costs) to: (1) require the Small Business Administration (SBA) to make available for award under such Program to each State, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, and American Samoa an amount equal to the sum of the lesser of $800,000 or one fifty-fifth of the total amount of new loan funds available for such fiscal year plus such additional amount determined appropriate (authorizing a redistribution of unused funds among such States and territories and possessions); (2) revise the loan loss reserve fund levels required of loan intermediaries; (3) direct the SBA Administrator, after the first five years of an intermediary's participation in the Program, to review the annual loss rate of such intermediary; and (4) authorize the Administrator, under certain circumstances, to reduce the annual loan loss reserve requirement to reflect the average annual loan loss rate of an intermediary, except that no loan loss reserve shall be reduced to less than ten percent of the outstanding balance of the notes receivable owed to the intermediary.
Microloan Program Technical Corrections Act of 1999
This bill became law
What it doesSummary passed senate amended (Mar 25, 1999)
Microloan Program Technical Corrections Act of 1999 - Amends provisions of the Small Business Act relating to the Microloan Program (a program making loans to small businesses for startup or materials and equipment costs) to: (1) require the Small Business Administration (SBA) to make available for award under such Program to each State, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, and American Samoa an amount equal to the sum of the lesser of $800,000 or one fifty-fifth of the total amount of new loan funds available for such fiscal year plus such additional amount determined appropriate (authorizing a redistribution of unused funds among such States and territories and possessions); (2) revise the loan loss reserve fund levels required of loan intermediaries; (3) direct the SBA Administrator, after the first five years of an intermediary's participation in the Program, to review the annual loss rate of such intermediary; and (4) authorize the Administrator, under certain circumstances, to reduce the annual loan loss reserve requirement to reflect the average annual loan loss rate of an intermediary, except that no loan loss reserve shall be reduced to less than ten percent of the outstanding balance of the notes receivable owed to the intermediary.
What just happenedApr 27, 1999
Became Public Law No: 106-22.
Who’s behind it
- Engrossed Amendment SenateMar 25, 1999
- Referred in SenateFeb 22, 1999
- Engrossed in HouseFeb 9, 1999
- Reported in HouseFeb 8, 1999
- Introduced in HouseFeb 2, 1999
- Public LawApr 27, 1999
- Apr 27, 1999PresidentE40000
Became Public Law No: 106-22.
- Apr 27, 1999BecameLaw36000
Became Public Law No: 106-22.
- Apr 27, 1999PresidentE30000
Signed by President.
- Apr 27, 1999BecameLaw36000
Signed by President.
- Apr 15, 1999FloorE20000
Presented to President.
- Apr 15, 1999President28000
Presented to President.
- Apr 12, 1999ResolvingDifferencesH41931
Motion to reconsider laid on the table Agreed to without objection.
- Apr 12, 1999ResolvingDifferencesH41610
On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote. (consideration: CR H1817-1818; text: CR H1817-1818)
- Apr 12, 1999NotUsed19500
Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote.(consideration: CR H1817-1818; text: CR H1817-1818)
- Apr 12, 1999FloorH8D000
The House proceeded with forty minutes of debate on the Senate amendment to H.R. 440.
- Apr 12, 1999ResolvingDifferencesH40140
Mr. Pease moved that the House suspend the rules and agree to the Senate amendment.
- Apr 12, 1999Floor
Message on Senate action sent to the House.
- Mar 25, 1999Floor
Passed Senate with an amendment by Unanimous Consent. (consideration: CR S3554-3566)
- Mar 25, 1999Floor17000
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(consideration: CR S3554-3566)
- Mar 25, 1999Floor
Amendment SP 248 agreed to in Senate by Unanimous Consent.
- Mar 25, 1999Floor
Amendment SP 248 proposed by Senator Enzi for Senator Kerry.
- Mar 25, 1999Floor
Measure laid before Senate by unanimous consent. (consideration: CR S3554-3566)
- Mar 25, 1999Discharge
Senate Committee on Small Business discharged by Unanimous Consent.
Small Business and Entrepreneurship Committee - Mar 25, 1999Committee14500
Senate Committee on Small Business discharged by Unanimous Consent.
Small Business and Entrepreneurship Committee - Feb 22, 1999IntroReferral
Read twice and referred to the Committee on Small Business.
Small Business and Entrepreneurship Committee - Feb 11, 1999IntroReferral
Received in the Senate.
- Feb 9, 1999FloorH38310
Motion to reconsider laid on the table Agreed to without objection.
- Feb 9, 1999FloorH37300
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 411 - 4 (Roll no. 12). (text: CR H492)
- Feb 9, 1999Floor8000
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 411 - 4 (Roll no. 12).(text: CR H492)
- Feb 9, 1999FloorH30000
Considered as unfinished business. (consideration: CR H524-525)
- Feb 9, 1999FloorH37220
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 5, rule I, the Chair announced that further proceedings on the motion would be postponed.
- Feb 9, 1999FloorH8D000
DEBATE - The House proceeded with forty minutes of debate.
- Feb 9, 1999FloorH30000
Considered under suspension of the rules. (consideration: CR H492-494)
- Feb 9, 1999FloorH30300
Mr. Talent moved to suspend the rules and pass the bill, as amended.
- Feb 8, 1999CalendarsH12410
Placed on the Union Calendar, Calendar No. 10.
- Feb 8, 1999CommitteeH12200
Reported by the Committee on Small Business. H. Rept. 106-12.
Small Business Committee - Feb 8, 1999Committee5000
Reported by the Committee on Small Business. H. Rept. 106-12.
Small Business Committee - Feb 8, 1999CommitteeH19000
Ordered to be Reported by Voice Vote.
Small Business Committee - Feb 8, 1999CommitteeH15000-B
Committee Consideration and Mark-up Session Held.
Small Business Committee - Feb 2, 1999IntroReferralH11100
Referred to the House Committee on Small Business.
Small Business Committee - Feb 2, 1999IntroReferralIntro-H
Introduced in House
- Feb 2, 1999IntroReferral1000
Introduced in House
TABLE OF CONTENTS:
Microloan Program Technical Corrections Act of 1999 - Amends provisions of the Small Business Act relating to the Microloan Program (a program making loans to small businesses for startup or materials and equipment costs) to: (1) delete provisions restricting the amount of loan funds made available to any single State and require the Small Business Administration (SBA) to ensure that at least $800,000 of new loan funds are available to each State in any fiscal year; (2) revise the loan loss reserve fund levels required of loan intermediaries; (3) direct the SBA Administrator, after the first five years of an intermediary's participation in the Program, to review the annual loss rate of such intermediary; and (4) authorize the Administrator, under certain circumstances, to reduce the annual loan loss reserve requirement to reflect the average annual loan loss rate of an intermediary, except that no loan loss reserve shall be reduced to less than ten percent of the outstanding balance of the notes receivable owed to the intermediary.
Microloan Program Technical Corrections Act of 1999 - Amends provisions of the Small Business Act relating to the Microloan Program (a program making loans to small businesses for startup or materials and equipment costs) to: (1) delete provisions restricting the amount of loan funds made available to any single State and require the Small Business Administration (SBA) to ensure that at least $800,000 of new loan funds are available to each State in any fiscal year; (2) revise the loan loss reserve fund levels required of loan intermediaries; (3) direct the SBA Administrator, after the first five years of an intermediary's participation in the Program, to review the annual loss rate of such intermediary; and (4) authorize the Administrator, under certain circumstances, to reduce the annual loan loss reserve requirement to reflect the average annual loan loss rate of an intermediary, except that no loan loss reserve shall be reduced to less than ten percent of the outstanding balance of the notes receivable owed to the intermediary.