#aafth ,,congress #b;d ,session ,h4 ,r4 #fjgi ,,an ,,act ,to amend the ,small ,business ,act to optimize the operations of the microloan program1 lower costs for small business concerns and intermediary participants in the program1 and for other purposes4 #a4 ,short title2 table of contents 7a7 ,short title ,this ,act may be cited as the ,microloan ,improvement ,act of #bjbj4 7b7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents4 ,sec4 #b4 ,interest rate for certain intermediaries4 ,sec4 #c4 ,lines of credit authorized4 ,sec4 #d4 ,extended repayment terms4 ,sec4 #e4 ,loan limits adjusted4 ,sec4 #f4 ,program funding for microloans4 ,sec4 #g4 ,technical assistance grant flexibility4 ,sec4 #h4 ,credit reporting information4 ,sec4 #i4 ,report regarding equitable distribution4 #b4 ,interest rate for certain intermediaries ,section #g7m77#c77;,f77iii7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#c77;,f77iii77 is amended by striking #g1ejj and inserting #aj1jjj4 #c4 ,lines of credit authorized ,section #g7m77#f77;,a7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#f77;,a77 is amended by inserting 7including lines of credit7 after fixed rate loans4 #d4 ,extended repayment terms ,section #g7m77#f7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#f77 is amended by adding at the end the following3 7,f7 ,repayment terms 7i7 ,limitation on repayments term ,the repayment term for a loan made under this paragraph shall not be more than-- 7,i7 in the case of a loan made by an intermediary of #aj1jjj or less1 #g years2 and 7,,ii7 in the case of a loan made by an intermediary of greater than #aj1jjj1 #aj years4 7ii7 ,no additional limitations ,the ,administrator may not impose any additional limitation on the term for repayment of a loan made by an intermediary under this paragraph4 4 #e4 ,loan limits adjusted ,section #g7m77#c77;,c7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#c77;,c77 is amended by striking and #f1jjj1jjj and inserting and #g1jjj1jjj 7in the aggregate74 #f4 ,program funding for microloans 7a7 ,in general ,section #g7m7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77 is amended-- 7#a7 in paragraph 7#g77;,b7-- 7,a7 by amending clause 7i7 to read as follows3 7i7 ,allocation ,subject to the availability of appropriations and for the first #b quarters of a fiscal year1 of the total amount of new loan funds made available for award under this subsection in such fiscal year1 the ,administrator shall-- 7,i7 reserve #ae percent of such funds for award to designated underutilized ,states2 and 7,,ii7 make the remaining #he percent of such funds available for award in any ,state4 2 and 7,b7 in clause 7ii71 by striking to carry out and all that follows through the period at the end and inserting the following3 under clause 7i77,i7 remains unexpended1 the ,administrator may make that portion available for award in any ,state or designated underutilized ,state42 and 7#b7 in paragraph 7#aa7-- 7,a7 in subparagraph 7,c77ii71 by striking the period at the end and inserting 2 and2 and 7,b7 by adding at the end the following new subparagraph3 7,d7 the term ,state means each of the several ,states1 the ,district of ,columbia1 the ,commonwealth of ,puerto ,rico1 the ,united ,states ,virgin ,islands1 ,guam1 the ,northern ,mariana ,islands1 and ,american ,samoa4 4 7b7 ,rulemaking ,not later than #ahj days after the date of the enactment of this ,act1 the ,administrator of the ,small ,business ,administration shall issue regulations to define the term designated underutilized ,state1 as used in section #g7m77#g77;,b7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#g77;,b771 as added by this section4 #g4 ,technical assistance grant flexibility ,section #g7m77#d7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#d77 is amended-- 7#a7 in subparagraph 7,a71 by striking subparagraph 7,c7 each place that term appears and inserting subparagraphs 7,c7 and 7,g72 7#b7 in subparagraph 7,c77i7-- 7,a7 by striking subparagraph 7,a7 and inserting subparagraphs 7,a7 and 7,g72 and 7,b7 by striking the dollar figure and inserting #aj1jjj2 7#c7 in subparagraph 7,d71 by striking subparagraph 7,a71 or 7,c7 and inserting subparagraph 7,a71 7,c71 or 7,g72 and 7#d7 by adding at the end the following3 7,g7 ,grant amounts based on appropriations ,in any fiscal year in which the amount appropriated to make grants under subparagraph 7,a7 is sufficient to provide to each intermediary that receives a loan under paragraph 7#a77;,b77i7 a grant of not less than #be percent of the total outstanding balance of loans made to the intermediary under this subsection1 the ,administrator shall make a grant under subparagraph 7,a7 to each intermediary of not less than #be percent and not more than #cj percent of that total outstanding balance4 4 #h4 ,credit reporting information ,the ,administrator of the ,small ,business ,administration shall issue rules establishing a process under which an intermediary that makes a loan to a borrower under section #g7m7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77 shall be required to provide the major credit reporting agencies with information about the borrower relevant to credit reporting1 such as the borrower's payment activity on the loan4 #i4 ,report regarding equitable distribution ,section #g7m77#h7 of the ,small ,business ,act 7#ae ,u4,s4,c4 #fcf7m77#h77 is amended-- 7#a7 by striking ,in approving and inserting the following3 7,a7 ,in general ,in approving 2 and 7#b7 by adding at the end the following3 7,b7 ,annual report ,the ,administrator shall include in the report submitted under paragraph 7#aj71 and make publicly available on the website of the ,administration1 information on how the ,administration has met the requirements of subparagraph 7,a74 4 ,passed the ,house of ,representatives ,september #ad1 #bjbj4;,clerk4