To make technical corrections to the Microloan Program.
Microloan Program Technical Corrections Act of 1999 - Amends provisions of the Small Business Act relating to the Microloan Program (a program making loans to small businesses for startup or materials and equipment costs) to: (1) require the Small Business Administration (SBA) to make available for award under such Program to each State, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, and American Samoa an amount equal to the sum of the lesser of $800,000 or one fifty-fifth of the total amount of new loan funds available for such fiscal year plus such additional amount determined appropriate (authorizing a redistribution of unused funds among such States and territories and possessions); (2) revise the loan loss reserve fund levels required of loan intermediaries; (3) direct the SBA Administrator, after the first five years of an intermediary's participation in the Program, to review the annual loss rate of such intermediary; and (4) authorize the Administrator, under certain circumstances, to reduce the annual loan loss reserve requirement to reflect the average annual loan loss rate of an intermediary, except that no loan loss reserve shall be reduced to less than ten percent of the outstanding balance of the notes receivable owed to the intermediary.
Read twice and referred to the Committee on Small Business.
Senate Committee on Small Business discharged by Unanimous Consent.
Senate Committee on Small Business discharged by Unanimous Consent.
Measure laid before Senate by unanimous consent. (consideration: CR S3554-3566)
Amendment SP 248 proposed by Senator Enzi for Senator Kerry.
Amendment SP 248 agreed to in Senate by Unanimous Consent.
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(consideration: CR S3554-3566)
Passed Senate with an amendment by Unanimous Consent. (consideration: CR S3554-3566)
Message on Senate action sent to the House.
Mr. Pease moved that the House suspend the rules and agree to the Senate amendment.
The House proceeded with forty minutes of debate on the Senate amendment to H.R. 440.
Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote.(consideration: CR H1817-1818; text: CR H1817-1818)
On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote. (consideration: CR H1817-1818; text: CR H1817-1818)
Motion to reconsider laid on the table Agreed to without objection.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 106-22.
Became Public Law No: 106-22.
Enacted as Public Law 106-22
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