House Proceedings on H.R. 6133 and H.R. 6079, September 14, 2020 — Congressional Record
Summary
The Congressional Record, Volume 166, No. 158, for Monday, September 14, 2020, with House proceedings. The Chaplain, the Reverend Patrick Conroy, offers the prayer, and Mrs. Fletcher honors Marine Corps Corporal Wesley Rodd, who was killed during a training accident on July 30. The page prints the text of H.R. 6133, the STEP Improvement Act of 2020, which amends the Small Business Act on the State Trade Expansion Program, and the start of H.R. 6079, the Microloan Improvement Act of 2020, which makes improvements to the SBA's microloan program.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
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“House Proceedings on H.R. 6133 and H.R. 6079, September 14, 2020 — Congressional Record.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/crec-crec-2020-09-14-crec-2020-09-14-pt1-pgh4341-8-dc0eebbbfa/
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Congressional Record
E PL
UR M
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116 th CONGRESS, SECOND SESSION
United States
of America PROCEEDINGS AND DEBATES OF THE
Vol. 166 WASHINGTON, MONDAY, SEPTEMBER 14, 2020 No. 158
House of Representatives
The House met at 2 p.m. and was IN HONOR OF CORPORAL WESLEY Trade Expansion Program of the Small
called to order by the Speaker. A. RODD Business Administration, and for other
f (Mrs. FLETCHER asked and was purposes.
given permission to address the House The Clerk read the title of the bill.
PRAYER for 1 minute.) The text of the bill is as follows:
The Chaplain, the Reverend Patrick Mrs. FLETCHER. Mr. Speaker, I rise H.R. 6133
J. Conroy, offered the following prayer: today to honor United States Marine Be it enacted by the Senate and House of Rep-
Merciful God we give You thanks for Corps Corporal Wesley Alexander Rodd, resentatives of the United States of America in
giving us another day. who was killed during a training acci- Congress assembled,
As the Members of the people’s House dent off the coast of Southern Cali- SECTION 1. SHORT TITLE.
return to Washington, keep them safe fornia on July 30 of this year and was This Act may be cited as the ‘‘STEP Im-
in their travels. You know well the just laid to rest last Saturday. provement Act of 2020’’.
dangers confronting the citizens of our Born in Houston, he was a resident of SEC. 2. STATE TRADE EXPANSION PROGRAM.
Nation: extreme weather events, ongo- Cypress for 17 years. Just 4 months (a) APPLICATION REQUIREMENTS.—Section
ing pandemic effects, economic distress ago, he became a father. After grad- 22(l)(3) of the Small Business Act (15 U.S.C.
and impending loss of employment, and uating from Cy-Fair High School in 649(l)(3)) is amended—
even housing. 2016, he enlisted in the United States (1) in subparagraph (D)—
Fill the Members with wisdom, pa- (A) in clause (i), by inserting ‘‘, including
Marine Corps, and he served as a rifle-
a budget plan for use of funds awarded under
tience, and determination to address man with the Bravo Company. this subsection’’ before the period at the end;
these needs as so many dangers con- We are grateful to him for his service and
tinue to close in on our communities. to our country—for his dedication and (B) by adding at the end the following new
May all that is done this day be for for his sacrifice—and it is fitting that clause:
Your greater honor and glory. we, the people he defended, honor him ‘‘(iii) TIMING.—The Associate Adminis-
Amen. today on the floor of this House, in this trator shall—
Chamber. And as we do so, we honor ‘‘(I) publish information on how to apply
f for a grant under this subsection, including
the loss and the grief and the sacrifice
specific calculations and other determina-
THE JOURNAL of his wife, Jamie; his 4-month-old son, tions used to award such a grant, not later
The SPEAKER. Pursuant to section Ezra; his mother, Valarie; and all of his than March 31 of each year;
4(a) of House Resolution 967, the Jour- family, his friends, and his fellow ma- ‘‘(II) establish a deadline for the submis-
nal of the last day’s proceedings is ap- rines. All Americans are forever in sion of applications that is not earlier than
proved. their debt—and he will be forever in 60 days after the date on which the informa-
our hearts. tion is published under subclause (I), but in
f any case not later than May 31; and
f ‘‘(III) announce grant recipients not later
PLEDGE OF ALLEGIANCE than August 31 of each year.’’; and
ANNOUNCEMENT BY THE SPEAKER
The SPEAKER. The Chair will lead (2) by adding at the end the following new
PRO TEMPORE subparagraphs:
the House in the Pledge of Allegiance.
The SPEAKER led the Pledge of Alle- The SPEAKER pro tempore. Pursu- ‘‘(E) APPLICATION INFORMATION.—The Asso-
ant to clause 8 of rule XX, the Chair ciate Administrator shall clearly commu-
giance as follows:
will postpone further proceedings nicate to applicants and grant recipients any
I pledge allegiance to the Flag of the information about State Trade Expansion
United States of America, and to the Repub- today on motions to suspend the rules
Program, including—
lic for which it stands, one nation under God, on which the yeas and nays are or- ‘‘(i) for each unsuccessful applicant for a
indivisible, with liberty and justice for all. dered. grant awarded under this subsection, rec-
f The House will resume proceedings ommendations to improve a subsequent ap-
on postponed questions at a later time. plication for such a grant; and
ANNOUNCEMENT BY THE SPEAKER ‘‘(ii) for each successful applicant for such
f
PRO TEMPORE a grant, an explanation for the amount
STEP IMPROVEMENT ACT OF 2020 awarded, if different from the amount re-
The SPEAKER pro tempore (Mr. quested in the application.
GOMEZ). The Chair will entertain up to Ms. VELÁZQUEZ. Mr. Speaker, I ‘‘(F) BUDGET PLAN REVISIONS.—
15 requests for 1-minute speeches on move to suspend the rules and pass the ‘‘(i) IN GENERAL.—A State receiving a grant
each side of the aisle. bill (H.R. 6133) to reauthorize the State under this subsection may revise the budget
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b This symbol represents the time of day during the House proceedings, e.g., b 1407 is 2:07 p.m.
Matter set in this typeface indicates words inserted or appended, rather than spoken, by a Member of the House on the floor.
H4341
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H4342 CONGRESSIONAL RECORD — HOUSE September 14, 2020
plan of the State submitted under subpara- show exhibitions, disaggregated by socially hearings about the challenges and ben-
graph (D) after the disbursal of grant funds and economically disadvantaged small busi- efits of exporting and trade for Amer-
if— ness concerns, small business concerns ica’s business owners, this bill address-
‘‘(I) the revision complies with allowable owned and controlled by women, and rural
uses of grant funds under this subsection;
es many of the concerns raised. It reau-
small business concerns.’’.
and (d) AUTHORIZATION OF APPROPRIATIONS.— thorizes the SBA State Trade Expan-
‘‘(II) such State submits notification of the Section 22(l)(10) of the Small Business Act, sion Program—otherwise known as
revision to the Associate Administrator. as redesignated by subsection (b), is amended STEP—a proven and effective program
‘‘(ii) EXCEPTION.—If a revision under clause by striking ‘‘fiscal years 2016 through 2020’’ that gives small businesses the tools
(i) reallocates 10 percent or more of the and inserting ‘‘fiscal years 2021 through they need to enter and thrive in the
amounts described in the budget plan of the 2024’’. global marketplace.
State submitted under subparagraph (D), the (e) REPORT TO CONGRESS.—Not later than 1 STEP has helped small firms export
State may not implement the revised budget year after the date of the enactment of this
plan without the approval of the Associate Act, the Associate Administrator for Inter-
and access new markets, supporting
Administrator, unless the Associate Admin- national Trade of the Small Business Admin- $974 million in export sales in fiscal
istrator fails to approve or deny the revised istration shall submit to Congress a report year 2019 alone. With the COVID–19
plan within 10 days after receipt of such re- on the State Trade Expansion Program es- pandemic continuing to decimate local
vised plan.’’. tablished under section 22(l) of the Small economies and disrupting supply
(b) SURVEY.—Section 22(l) of the Small Business Act (15 U.S.C. 649(l)) that includes a chains, the STEP program will be need-
Business Act (15 U.S.C. 649(l)) is amended— description of—
(1) by redesignating paragraphs (7) through
ed now more than ever. It will help
(1) the process developed for review of re- small businesses navigate the complex-
(9) as paragraphs (8) through (10), respec- vised budget plans submitted under section
tively; and 22(l)(3)(F) of the Small Business Act, as
ities of an international marketplace,
(2) by inserting after paragraph (6) the fol- added by this Act; particularly as the country and world
lowing new paragraph: (2) any changes made to streamline the ap- reopen for business. The STEP Im-
‘‘(7) SURVEY.—The Associate Adminis- plication process to remove duplicative re- provement Act of 2020 funds STEP
trator shall conduct an annual survey of quirements and create a more transparent through fiscal year 2024 while making
each State that received a grant under this process;
subsection during the preceding year to so-
important improvements to modernize
(3) the process developed to share best the program.
licit feedback on the program.’’. practices by States described in section
(c) ANNUAL REPORT.—Section 22(l)(8)(B) of Mr. Speaker, I am pleased to report
22(l)(8)(B)(i)(V) (as redesignated by this Act),
the Small Business Act, as redesignated by that this legislation has the support of
particularly for first-time grant recipients
subsection (b), is amended— the State International Development
under the State Trade Expansion Program or
(1) in clause (i)— Organizations. I thank its cosponsors,
grant recipients that are facing problems
(A) in subclause (III), by inserting ‘‘, in- Representative FINKENAUER, who is
using grant funds; and
cluding the total number of eligible small
business concerns assisted by the program
(4) the process developed to communicate, also the chair of the Subcommittee on
(disaggregated by socially and economically both verbally and in writing, relevant infor- Rural Development, Agriculture,
disadvantaged small business concerns, mation about the State Trade Expansion Trade, and Entrepreneurship; and Rep-
small business concerns owned and con- Program to all grant recipients in a timely resentative SPANO, the ranking mem-
manner.
trolled by women, and rural small business ber of the Subcommittee on Investiga-
concerns)’’ before the semicolon at the end; The SPEAKER pro tempore. Pursu- tions, Oversight, and Regulations, for
(B) in subclause (IV), by striking ‘‘and’’ at ant to the rule, the gentlewoman from their continued bipartisan work to im-
the end; New York (Ms. VELÁZQUEZ) and the prove STEP.
(C) in subclause (V)— gentleman from Ohio (Mr. CHABOT)
(i) by striking ‘‘description of best prac-
Mr. Speaker, I urge my colleagues to
each will control 20 minutes. join me in voting to support H.R. 6133
tices’’ and inserting ‘‘detailed description of
best practices’’; and
The Chair recognizes the gentle- today, and I reserve the balance of my
(ii) by striking the period at the end and woman from New York. time.
inserting a semicolon; and GENERAL LEAVE Mr. CHABOT. Mr. Speaker, I yield
(D) by adding at the end the following new Ms. VELÁZQUEZ. Mr. Speaker, I ask myself such time as I may consume.
subclauses: unanimous consent that all Members Mr. Speaker, I rise in support of H.R.
‘‘(VI) an analysis of the performance may have 5 legislative days in which to 6133, the STEP Improvement Act of
metrics described in clause (iii) and the sur- 2020. This legislation will authorize the
revise and extend their remarks and in-
vey described in paragraph (7); and
‘‘(VII) a description of lessons learned by clude extraneous material on the meas- SBA State Trade Expansion Program—
grant recipients under this subsection that ure under consideration. or STEP—for the next 4 years. This im-
may apply to other assistance provided by The SPEAKER pro tempore. Is there portant program facilitates small busi-
the Administration.’’; and objection to the request of the gentle- ness participation in trade missions
(2) by adding at the end the following new woman from New York? and shows, international marketing ef-
clause: There was no objection. forts, workshops, and other pro-
‘‘(iii) PERFORMANCE METRICS.—Annually, Ms. VELÁZQUEZ. Mr. Speaker, I motional activities.
the Associate Administrator shall collect yield myself such time as I may con- The Small Business Act of 2010 au-
data on eligible small business concerns as-
sume. thorized the SBA to establish a 3-year
sisted by the program on the following per-
formance metrics: Mr. Speaker, I rise today in support STEP pilot grant initiative. The pro-
‘‘(I) Total number of such concerns, of H.R. 6133, the STEP Improvement gram has two objectives: One, increase
disaggregated by socially and economically Act of 2020. the number of small businesses that ex-
disadvantaged small business concerns, Before I begin, I thank Ranking port; and, two, raise the value of exist-
small business concerns owned and con- Member CHABOT for his dedication to ing small business exporters.
trolled by women, and rural small business small businesses and for his continued The Associate Administrator of the
concerns. effort to ensure the Committee on Office of International Trade is respon-
‘‘(II) Total dollar amount of export sales Small Business works in a bipartisan sible for overseeing the program and
by eligible small business concerns assisted
by the program.
manner. Staying true to the tradition awards, matching funds to States and
‘‘(III) Number of such concerns that have of our committee, the bills we are de- territories for participation in trade
not previously participated in an activity de- bating today are all bipartisan and missions, international marketing ef-
scribed in paragraph (2). passed through committee by unani- forts, workshops, export trade show ex-
‘‘(IV) Number of such concerns that have mous consent, thanks to the coopera- hibits, and other promotional activi-
previously participated in the program. tion of Members on both sides of the ties.
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‘‘(V) Number of such concerns that, be- aisle. I commend and thank all of the The Trade Facilitation and Trade En-
cause of participation in the program, have committee members for their work on forcement Act of 2015 renamed the pro-
accessed a new market.
those bills and their passion to put gram the State Trade Expansion Pro-
‘‘(VI) Number of such concerns that, be-
cause of participation in the program, have forth policies that make a difference in gram and provided a $30 million au-
created new jobs. the lives of entrepreneurs. thorization through fiscal year 2020.
‘‘(VII) Number of such concerns partici- Mr. Speaker, today’s bill is one of The act allowed the Associate Adminis-
pating in foreign trade missions or trade those passion projects. After many trator of the Office of International
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September 14, 2020 CONGRESSIONAL RECORD — HOUSE H4343
Trade to give priority to STEP pro- nesses the tools they need to start ex- about the good bipartisan work that we
posals from States that have a small porting and expanding into new mar- do in the Small Business Committee. It
number of small businesses that export kets. Many small businesses operate truly has been an honor serving on that
or proposals that would assist rural, within razor-thin margins and have committee this term.
women-owned, and socially or eco- only a few employees. I rise today in support of H.R. 6133,
nomically disadvantaged small busi- They don’t always have the resources the STEP Improvement Act of 2020,
nesses. to attend a trade show, design an inter- which reauthorizes the SBA’s State
This legislation will improve the im- national marketing campaign, or navi- Trade Expansion Program, or STEP,
plementation of the program by cre- gate foreign countries’ complex rules for the next 4 years.
ating a standardized application proc- and regulations. That is where the The program helps small exporters
ess, increasing grant spending flexi- State Trade Expansion Program comes expand their markets, grow their busi-
bility, improving communication be- in. nesses, and create new American jobs.
tween the SBA and States, and col- It is important that we reauthorize In fiscal year 2019, STEP helped
lecting performance metrics and re- this program before it expires at the small businesses export over $974 mil-
porting to Congress. end of the month. At the same time, we lion in goods and services, which yield-
H.R. 6133 reinforces our commitment also need to fix some of the program’s ed a 54-to-1 return on investment.
to seeing that the SBA fulfills its goals administrative challenges, which we The program enhances State and
relating to the STEP program and have heard about from folks in Iowa Federal export efforts, facilitates co-
maximizes every dollar to help small and other stakeholders who have come ordination of services, and expands the
businesses reach their potential in the before my subcommittee. resources available to our Nation’s
international market. The bill provides b 1415 small businesses.
greater flexibility to State trade agen- Last year, the committee held a se-
In the Rural Development, Agri- ries of hearings to evaluate the STEP
cies and enhances accountability at the culture, Trade, and Entrepreneurship
SBA—a balance that will greatly im- program.
Subcommittee that I chair with Rank- In March 2019, representatives from
prove program functions. ing Member JOYCE from Pennsylvania,
Mr. Speaker, I thank the gentle- the U.S. Government Accountability
we held two hearings dedicated to bet- Office and the SBA’s Office of Inspector
woman from Iowa (Ms. FINKENAUER), ter understanding and addressing chal-
and the gentleman from Florida (Mr. General identified program manage-
lenges with the State Trade Expansion ment weaknesses and recommended re-
SPANO), for their leadership on this Program. I also held a roundtable in
bill. And I especially thank the chair of forms.
my district to hear from the Iowa Eco- In June 2019, we received testimony
the Committee on Small Business for nomic Development Authority, and from State administrators and small
her great leadership on the committee small businesses have actually used businesses that have successfully uti-
and the bipartisan work that we have this program. lized STEP funds.
done on this for such a long time. What we heard was that the State Our committee has carefully re-
Ms. VELÁZQUEZ and I have had the Trade Expansion Program is a great re- viewed oversight reports and stake-
opportunity to work on the committee source for our State, but we also heard holder feedback to determine the ap-
for many years now, and it is truly one about confusing application processes, propriate path in this reauthorization.
of the committees in this Congress tight timelines, and poor communica- With these recommendations in
that works because it is bipartisan, and tion from staff at the Small Business mind, H.R. 6133 streamlines the pro-
that is why we have been able to pass Administration. gram’s administration from the appli-
such important legislation and work so That is why today, taking all of that cation process to the reporting require-
hard on the PPP and other programs feedback I have heard here in D.C. and ments.
over the years. back at home, I am proud we are here Thousands of our small businesses
Mr. Speaker, I thank the chair- to pass the bipartisan STEP Improve- are competing in the global economy
woman, and I reserve the balance of my ment Act of 2020. through the STEP program. Now more
time. This bill would reauthorize the State than ever, we need to support small
Ms. VELÁZQUEZ. Mr. Speaker, I Trade Expansion Program for 4 more businesses as our economy is recov-
yield as much time as she may con- years and make improvements; like ering.
sume to the gentlewoman from Iowa creating a standard timeframe for ap- In my home State of Florida, more
(Ms. FINKENAUER), the sponsor of the plications; opening up more channels than 55,000 small businesses export
bill and chair of the Subcommittee on for input and communication between their goods and services, and this pro-
Rural Development, Agriculture, the Small Business Administration and gram will help them and their employ-
Trade, and Entrepreneurship. the States; and collecting better data ees.
Ms. FINKENAUER. Mr. Speaker, I on how the program helps small busi- In passing H.R. 6133, we maximize the
thank Chairwoman VELÁZQUEZ for nesses, which is the ultimate goal here. potential of our small exporters.
yielding. It is an honor to get to serve I want to thank Congressman ROSS Thank you to the gentlewoman from
on the Committee on Small Business SPANO from Florida, whom I worked Iowa (Ms. FINKENAUER) for working
with her, and I appreciate her support with on introducing this bipartisan leg- with me on this piece of legislation and
as we dive into these issues that are islation, as well as Congressman JIM her commitment to bipartisan coopera-
obviously of big importance to me and HAGEDORN from Minnesota for cospon- tion.
to my State of Iowa. soring this bill. I urge my colleagues to support this
Mr. Speaker, that is why, today, I I will also note that this legislation bill.
rise in support of the bipartisan State passed through the House Small Busi- Mr. CHABOT. Mr. Speaker, I yield
Trade Expansion Program Improve- ness Committee unanimously. I want myself the balance of my time for the
ment Act. to thank my Republican and Demo- purpose of closing.
As the Congresswoman from Iowa’s cratic colleagues for working together Mr. Speaker, the SBA’s STEP pro-
First Congressional District, I know to move this forward. gram provides financial awards to
firsthand that for our small businesses, I urge all Members of this body to State and territory governments to as-
the ability to access new markets and join Congressmen SPANO, HAGEDORN, sist small businesses with export devel-
export goods promotes economic suc- and me in supporting this bill. opment.
cess at home and in our communities. Mr. CHABOT. Mr. Speaker, I yield The financial support that STEP pro-
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Given the importance of trade in my such time as he may consume to the vides helps small businesses to learn
home State—especially for our farm- gentleman from Florida (Mr. SPANO), how to export, participate in foreign
ers, small businesses, and manufactur- who is the ranking member of the In- trade missions and trade shows, and de-
ers—I have made it a priority to im- vestigations, Oversight, and Regula- sign international marketing products
prove and strengthen the State Trade tions Subcommittee. or campaigns.
Expansion Program. The State Trade Mr. SPANO. Mr. Speaker, I always It is a commonsense, bipartisan piece
Expansion Program gives small busi- appreciate coming to the floor to talk of legislation. I urge my colleagues to
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H4344 CONGRESSIONAL RECORD — HOUSE September 14, 2020
support it, and I yield back the balance (b) TABLE OF CONTENTS.—The table of con- the term ‘‘designated underutilized State’’,
of my time. tents for this Act is as follows: as used in section 7(m)(7)(B) of the Small
Ms. VELÁZQUEZ. Mr. Speaker, I Sec. 1. Short title; table of contents. Business Act (15 U.S.C. 636(m)(7)(B)), as
Sec. 2. Interest rate for certain inter- added by this section.
yield myself the balance of my time.
mediaries. SEC. 7. TECHNICAL ASSISTANCE GRANT FLEXI-
Mr. Speaker, small businesses are BILITY.
truly the bedrock of the American Sec. 3. Lines of credit authorized.
Sec. 4. Extended repayment terms. Section 7(m)(4) of the Small Business Act
economy. Unsurprisingly, foreign mar- Sec. 5. Loan limits adjusted. (15 U.S.C. 636(m)(4)) is amended—
kets are essential to their growth. Sec. 6. Program funding for microloans. (1) in subparagraph (A), by striking ‘‘sub-
While more and more of our local busi- Sec. 7. Technical assistance grant flexi- paragraph (C)’’ each place that term appears
nesses are making inroads abroad, they bility. and inserting ‘‘subparagraphs (C) and (G)’’;
are not without challenges. Sec. 8. Credit reporting information. (2) in subparagraph (C)(i)—
Sec. 9. Report regarding equitable distribu- (A) by striking ‘‘subparagraph (A)’’ and in-
International trade has always been
tion. serting ‘‘subparagraphs (A) and (G)’’; and
a complex undertaking, dependent on (B) by striking the dollar figure and insert-
global macroeconomic trends as well as SEC. 2. INTEREST RATE FOR CERTAIN INTER-
MEDIARIES. ing ‘‘$10,000’’;
country-specific trade policies and re- (3) in subparagraph (D), by striking ‘‘sub-
Section 7(m)(3)(F)(iii) of the Small Busi-
sources. ness Act (15 U.S.C. 636(m)(3)(F)(iii)) is paragraph (A), or (C)’’ and inserting ‘‘sub-
Regardless, it is critical entre- amended by striking ‘‘$7,500’’ and inserting paragraph (A), (C), or (G)’’; and
preneurs can compete in this market- ‘‘$10,000’’. (4) by adding at the end the following:
place. Doing so gives them access to ‘‘(G) GRANT AMOUNTS BASED ON APPROPRIA-
SEC. 3. LINES OF CREDIT AUTHORIZED.
TIONS.—In any fiscal year in which the
more customers, which in turn fuels Section 7(m)(6)(A) of the Small Business amount appropriated to make grants under
growth and generates jobs here at Act (15 U.S.C. 636(m)(6)(A)) is amended by in- subparagraph (A) is sufficient to provide to
home. serting ‘‘(including lines of credit)’’ after each intermediary that receives a loan under
H.R. 6133, the STEP Improvement ‘‘fixed rate loans’’. paragraph (1)(B)(i) a grant of not less than 25
Act of 2020, will go a long way to ensur- SEC. 4. EXTENDED REPAYMENT TERMS. percent of the total outstanding balance of
ing the recovery and success of our Na- Section 7(m)(6) of the Small Business Act loans made to the intermediary under this
tion’s small businesses. By reauthor- (15 U.S.C. 636(m)(6)) is amended by adding at subsection, the Administrator shall make a
izing and modernizing STEP, this legis- the end the following: grant under subparagraph (A) to each inter-
lation guarantees that States and their ‘‘(F) REPAYMENT TERMS.— mediary of not less than 25 percent and not
‘‘(i) LIMITATION ON REPAYMENTS TERM.—The more than 30 percent of that total out-
entrepreneurs will face fewer obstacles repayment term for a loan made under this standing balance.’’.
to participation and greater opportuni- paragraph shall not be more than— SEC. 8. CREDIT REPORTING INFORMATION.
ties to expand their businesses through ‘‘(I) in the case of a loan made by an inter- The Administrator of the Small Business
exporting. mediary of $10,000 or less, 7 years; and Administration shall issue rules establishing
This bill is needed now more than ‘‘(II) in the case of a loan made by an inter- a process under which an intermediary that
ever as the world seeks to recover from mediary of greater than $10,000, 10 years. makes a loan to a borrower under section
the COVID–19 pandemic and subsequent ‘‘(ii) NO ADDITIONAL LIMITATIONS.—The Ad- 7(m) of the Small Business Act (15 U.S.C.
economic fallout. ministrator may not impose any additional 636(m)) shall be required to provide the
Once again, I applaud my esteemed limitation on the term for repayment of a major credit reporting agencies with infor-
loan made by an intermediary under this mation about the borrower relevant to credit
colleagues, Representative FINKENAUER reporting, such as the borrower’s payment
paragraph.’’.
and Representative SPANO, for their activity on the loan.
SEC. 5. LOAN LIMITS ADJUSTED.
hard work on this legislation. SEC. 9. REPORT REGARDING EQUITABLE DIS-
Section 7(m)(3)(C) of the Small Business
I commend the ranking member and Act (15 U.S.C. 636(m)(3)(C)) is amended by
TRIBUTION.
his staff for their commitment to ad- striking ‘‘and $6,000,000’’ and inserting ‘‘and Section 7(m)(8) of the Small Business Act
vancing this legislation in a bipartisan (15 U.S.C. 636(m)(8)) is amended—
$7,000,000 (in the aggregate)’’.
manner through our committee. (1) by striking ‘‘In approving’’ and insert-
SEC. 6. PROGRAM FUNDING FOR MICROLOANS.
I urge my colleagues to support this ing the following:
(a) IN GENERAL.—Section 7(m) of the Small ‘‘(A) IN GENERAL.—In approving’’; and
legislation, and I yield back the bal- Business Act (15 U.S.C. 636(m)) is amended— (2) by adding at the end the following:
ance of my time. (1) in paragraph (7)(B)— ‘‘(B) ANNUAL REPORT.—The Administrator
The SPEAKER pro tempore. The (A) by amending clause (i) to read as fol- shall include in the report submitted under
question is on the motion offered by lows: paragraph (10), and make publicly available
the gentlewoman from New York (Ms. ‘‘(i) ALLOCATION.—Subject to the avail- on the website of the Administration, infor-
VELÁZQUEZ) that the House suspend the ability of appropriations and for the first 2 mation on how the Administration has met
quarters of a fiscal year, of the total amount the requirements of subparagraph (A).’’.
rules and pass the bill, H.R. 6133.
of new loan funds made available for award
The question was taken; and (two- under this subsection in such fiscal year, the The SPEAKER pro tempore. Pursu-
thirds being in the affirmative) the Administrator shall— ant to the rule, the gentlewoman from
rules were suspended and the bill was ‘‘(I) reserve 15 percent of such funds for New York (Ms. VELÁZQUEZ) and the
passed. award to designated underutilized States; gentleman from Ohio (Mr. CHABOT)
A motion to reconsider was laid on and each will control 20 minutes.
the table. ‘‘(II) make the remaining 85 percent of The Chair recognizes the gentle-
f such funds available for award in any woman from New York.
State.’’; and GENERAL LEAVE
MICROLOAN IMPROVEMENT ACT (B) in clause (ii), by striking ‘‘to carry Ms. VELÁZQUEZ. Mr. Speaker, I ask
OF 2020 out’’ and all that follows through the period
unanimous consent that all Members
at the end and inserting the following:
Ms. VELÁZQUEZ. Mr. Speaker, I may have 5 legislative days in which to
‘‘under clause (i)(I) remains unexpended, the
move to suspend the rules and pass the Administrator may make that portion avail- revise and extend their remarks and in-
bill (H.R. 6079) to amend the Small able for award in any State or designated un- cluded extraneous material on the
Business Act to optimize the oper- derutilized State.’’; and measure under consideration.
ations of the microloan program, lower (2) in paragraph (11)— The SPEAKER pro tempore. Is there
costs for small business concerns and (A) in subparagraph (C)(ii), by striking the objection to the request of the gentle-
intermediary participants in the pro- period at the end and inserting ‘‘; and’’; and woman from New York?
gram, and for other purposes. (B) by adding at the end the following new There was no objection.
The Clerk read the title of the bill. subparagraph: Ms. VELÁZQUEZ. Mr. Speaker, I
‘‘(D) the term ‘State’ means each of the yield myself such time as I may con-
SSpencer on DSK126QN23PROD with HOUSE
The text of the bill is as follows:
several States, the District of Columbia, the sume.
H.R. 6079 Commonwealth of Puerto Rico, the United
Be it enacted by the Senate and House of Rep-
Mr. Speaker, I rise in support of the
States Virgin Islands, Guam, the Northern
resentatives of the United States of America in Mariana Islands, and American Samoa.’’.
bill before us today, H.R. 6079, the
Congress assembled, (b) RULEMAKING.—Not later than 180 days Microloan Improvement Act of 2020, a
SECTION 1. SHORT TITLE; TABLE OF CONTENTS. after the date of the enactment of this Act, bill that makes important improve-
(a) SHORT TITLE.—This Act may be cited as the Administrator of the Small Business Ad- ments to the SBA’s microloan pro-
the ‘‘Microloan Improvement Act of 2020’’. ministration shall issue regulations to define gram.
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