,,ii  #aad? ,,congress  #a/ ,session    
,s4 #aheg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #bc1 #bjae,mrs4  
,fis*] 7= h]self1 ,ms4 ,ayotte1 & ,mr4  
,scott7 introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,small ,bus9ess & ,entrepr5eur%ip  ,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 ,def9itions ,9 ?is ,act--  7#a7 ! 
t]m int]m$i>y has ! mean+ giv5 t t]m 9  
section #g7m77#aa7 ( ! ,small ,bus9ess  
,act 7#ae ,u4,s4,c4 #fcf7m77#aa772 &    
7#b7 ! t]m microloan program means !    
program e/abli%$ "u section #g7m7 ( !   
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fcf7m774  #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    
,waiv]s ( #be_/ge rule ,section         

#g7m77#d77;,e7 ( ! ,small ,bus9ess ,act 
7#ae ,u4,s4,c4 #fcf7m77#d77;,e77 is     
am5d$ by add+ at ! end ! foll[+3  7iii7 
,waiv]  7,i7 ,9 g5]al ,! ,adm9i/rator   
%all by rule1 aft] a notice & comm5t    
p]iod ( n less ?an #fj days1 e/abli% a  
process by :i* an int]m$i>y may apply = 
& ! ,adm9i/rator may grant a waiv] f !  
requirem5ts ( clause 7i74  7,,ii7       
,cont5ts ,! rule requir$ "u subclause   
7,i7 %all-- 7aa7 require any applicant =
 a waiv] to-- 7,,aa7 specify h[ !       
applicant w use ! additional te*nical   
assi/ance2 & 7,,bb7 provide assurance1 9
 a =m provid$ = by ! ,adm9i/rator 9 !   
rule1 t ! int]m$i>y w h suffici5t funds 
to provide te*nical assi/ance to all    
borr[]s ( ! int]m$i>y2 &  7bb7          
incorporate any delegation ( ! au?ority 
( ! ,adm9i/rator to approve waiv]s to   
any appropriate subsidi>y (ficial4  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+ 7includ+ l9es ( cr$it7  

aft] %ort-t]m4  #f4 ,ext5d$ repaym5t    
t]ms ,section #g7m77#f7 ( ! ,small      
,bus9ess ,act 7#ae ,u4,s4,c4            
#fcf7m77#f77 is am5d$ by add+ at ! end !
 foll[+34  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 ( n m ?an #aj1jjj1 ! repaym5t 
t]m %all be n m ?an #f ye>s2 &  7ii7 9 !
 case ( a loan made by an int]m$i>y ( m 
?an #aj1jjj1 ! repaym5t t]m %all be n m 
?an #aj ye>s4  4  #g4 ,,gao /udy (      
micro5t]prise p>ticipation ,n lat] ?an  
#abj days aft] ! date ( enactm5t ( ?is  
,act1 ! ,comptroll] ,g5]al ( ! ,unit$   
,/ates %all conduct a /udy & submit to !
 ,committee on ,small ,bus9ess &        
,entrepr5eur%ip ( ! ,s5ate & !          
,committee on ,small ,bus9ess ( ! ,h\se 
( ,repres5tatives a report on--  7#a7 ! 
op]ations 7includ+ s]vices provid$1     
/ructure1 size1 & area ( op]ation7 ( a  

repres5tative sample (--  7,a7          
int]m$i>ies t are eligible to p>ticipate
 9 ! microloan program & t d p>ticipate2
 &  7,b7 int]m$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 eligible to         
p>ticipate 9 ! microloan program & t d n
 p>ticipate2  7#b7 ! reasons :y         
int]m$i>ies describ$ 9 p>agraph         
7#a77;,b7 *oose n to p>ticipate 9 !     
microloan program2  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;,b72 &  7#d7  
recomm5dations on h[ to decrease ! co/s 
associat$ ) p>ticipation 9 ! microloan  
program = eligible int]m$i>ies4