To assist in the development of micro-enterprises and micro-enterprise lending.
Act for Micro-Enterprise - Amends the Social Security Act to exclude from income for purposes of the Aid to Families with Dependent Children (AFDC) and Supplemental Security Income (SSI) programs business assets received primarily for micro-enterprise business purposes.
Extends public assistance benefits (including AFDC, SSI, and Medicaid) for persons with income from or resources in a micro-enterprise (any commercial enterprise with five or fewer employees, one or more of whom own the enterprise).
Amends the Internal Revenue Code to make eligible for unemployment compensation an individual who starts a micro-enterprise.
Amends the Housing and Community Development Act of 1974 to make financial assistance available under the Community Development Block Grant and Urban Development Action Grant programs to lending institutions and public and private organizations to provide loans, counseling, and training for micro-enterprises.
Amends the Small Business Act to urge that when implementing business loan programs the Administrator of the Small Business Administration consider the needs of micro-enterprises and the institutions which offer them credit or services.
Amends the Home Owners' Loan Act to treat savings association loans to micro-enterprises as qualified thrift investments.
Mandates that each Federal banking agency establish a Micro-Enteprise Technicial and Operations Office (ME-TOO) to promote micro-enterprises through technical assistance, outreach and training.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the House Committee on Small Business.
Referred to the House Committee on Energy and Commerce.
Referred to the Subcommittee on Human Resources.
Referred to the Subcommittee on SBA, the General Economy, and Minority Enterprise Development.
Referred to the Subcommittee on Health and the Environment.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Referred to the Subcommittee on Economic Stabilization.
Referred to the Subcommittee on Housing and Community Development.
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