,,ib  ,union ,cal5d> ,no4 #adj  #aad?   
,,congress  #a/ ,session  ,h4 ,r4 #bfgj 
,report ,no4 #aad-ahh  ,,9 ,,! ,,h\se   
,,( ,,repres5tatives  ,june #d1 #bjae   
,mr4 ,m\lton introduc$ ! foll[+ bill2   
:i* 0 ref]r$ to ! ,committee on ,small  
,bus9ess  ,june #be1 #bjae ,additional  
sponsors3 ,mr4 ,curbelo ( ,florida1 ,ms4
 ,velzquez1 ,mr4 ,takai1 ,mrs4          
,radewag51 & ,ms4 ,judy ,*u ( ,cali=nia 
,june #be1 #bjae ,committ$ to !         
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union & ord]$ to be pr9t$  ,a ,,bill 
,to am5d ! ,small ,bus9ess ,act to      
provide = exp&$ p>ticipation 9 !        
microloan program1 & = o!r purposes4    
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,microloan ,mod]nization ,act ( #bjae4
  #b4 ,waiv]s ( #be_/ge rule  7a7 ,waiv]
 au?oriz$ ,section #g7m77#d77;,e77i7 ( !
 ,small ,bus9ess ,act 7#ae ,u4,s4,c4    
#fcf7m77#d77;,e77i77 is am5d$ by add+ at
 ! end ! foll[+3 ,! ,adm9i/rator %all by
 rule e/abli% a process by :i*          
int]m$i>ies may apply = & ! ,adm9i/rator

 may grant a waiv] f ! requirem5ts ( ?is
 clause44  7b7 ,cont5ts ( rule ,9 ! rule
 requir$ by ! am5dm5t made by subsection
 7a71 ! ,adm9i/rator ( ! ,small ,bus9ess
 ,adm9i/ration %all require any         
applicant = a waiv] to--  7#a7 to       
specify h[ su* applicant w use !        
additional te*nical assi/ance2 &  7#b7  
provide assurance 9 a =m provid$ = by ! 
,adm9i/rator 9 ! rule t ! int]m$i>y w h 
suffici5t funds to provide te*nical     
assi/ance to all ( ! int]m$i>y's        
borr[]s4  7c7 ,rulemak+ requirem5ts ,!  
rule requir$ by subsection 7a7 %all be  
promulgat$ aft] notice & ! opportunity =
 comm5t ( n less ?an #fj days4 ,su*     
regulation %all be codifi$ 9 ! ,code (  
,f$]al ,regulations & %all incorporate  
any delegation ( ! ,adm9i/rator's       
au?ority to approve waiv]s to any       
appropriate subsidi>y (ficial4  #c4     
,microloan int]m$i>y l5d+ limit increas$
 ,section #g7m77#c77;,c7 ( ! ,small     
,bus9ess ,act 7#ae ,u4,s4,c4            
#fcf7m77#c77;,c77 is am5d$ by /rik+     

#e1jjj1jjj & ins]t+ #f1jjj1jjj4  #d4    
,ext5d$ repaym5t t]ms ,section #g7m77#f7
 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4
 #fcf7m77#f77 is am5d$ by add+ at ! end 
! foll[+3  7,f7 ,repaym5t t]ms = loans  
to small bus9esses ,! ,adm9i/rator may n
 impose limitations on ! t]m = repaym5t 
( a loan made by an int]m$i>y to a small
 bus9ess conc]n or entrepr5eur1 except  
t--  7i7 9 ! case ( a loan made by an   
int]m$i>y ( #aj1jjj or less1 ! repaym5t 
t]m %all be n m ?an #f ye>s2 &  7ii7 9 !
 case ( a loan great] ?an #aj1jjj1 !    
repaym5t t]m %all be n m ?an #aj ye>s4  
4  #e4 ,l9es ( cr$it au?oriz$ ,section  
#g7m77#f77;,a7 ( ! ,small ,bus9ess ,act 
7#ae ,u4,s4,c4 #fcf7m77#f77;,a77 is     
am5d$ by ins]t+ aft] %ort-t]m ins]t     
7includ+ l9es ( cr$it74  #f4 ,,gao /udy 
( micro5t]prise p>ticipation ,n lat] ?an
 #abj days aft] ! date ( enactm5t ( ?is 
,act1 ! ,comptroll] ,g5]al ( ! ,unit$   
,/ates %all complete a /udy on & report 
to ! ,committee on ,small ,bus9ess ( !  
,h\se ( ,repres5tatives on ! foll[+3    

7#a7 ,! op]ations 7includ+ s]vices      
provid$1 /ructure1 size1 & area (       
op]ation7 ( a repres5tative sample (--  
7,a7 int]m$i>ies t are eligible =       
p>ticipation 9 ! microloan program "u   
section #g7m7 ( ! ,small ,bus9ess ,act &
 t d p>ticipate2 &  7,b7 int]m$i>ies    
7includ+ ^? op]at$ = pr(it1 op]at$ z    
non-pr(its1 & ^? affiliat$ ) a ,unit$   
,/ates in/itution ( high] le>n+7 t are s
 eligible & t d n p>ticipate4  7#b7 ,!  
reasons :y int]m$i>ies describ$ 9       
p>agraph 7#a77;,b7 *oose n to           
p>ticipate4  7#c7 ,recomm5dations on h[ 
to enc\rage increas$ p>ticipation 9 !   
microloan program by int]m$i>ies        
describ$ 9 p>agraph 7#a77;,b74  7#d7    
,recomm5dations on h[ to decrease ! co/s
 associat$ ) p>ticipation 9 ! microloan 
program = eligible int]m$i>ies4  #g4    
,(fice ( ,advocacy economic /udy (      
m&atory sav+s requirem5t ,n lat] ?an    
#abj days aft] ! date ( enactm5t ( ?is  
,act1 ! ,*ief ,c\nsel = ,advocacy ( !   
,small ,bus9ess ,adm9i/ration %all      

submit to ! ,committee on ,small        
,bus9ess ( ! ,h\se ( ,repres5tatives a  
report on ! economic impact ( a m&atory 
sav+s requirem5t on bus9ess conc]ns     
eligible to p>ticipate 9 ! microloan    
program "u section #g7m7 ( ! ,small     
,bus9ess ,act1 includ+ on ! b5efits &   
co/s ( su* a requirem5t & recomm5dations
 on implem5tation ( su* a requirem5t4   
,june #be1 #bjae ,committ$ to !         
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union & ord]$ to be pr9t$