H.R. 225 · 116th Congress
Puerto Rico Small Business Assistance Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
VelázquezSponsorNo cosponsors.
This bill expands funding and support for small businesses that have their principal office in Puerto Rico.
What it does: CRS summary · Introduced in House · Jan 3, 2019
Puerto Rico Small Business Assistance Act of 2019
This bill expands funding and support for small businesses that have their principal office in Puerto Rico.
Specifically, the bill
- increases the total amount of loans outstanding and committed to any microloan intermediary if at least 20% of the intermediary's loans are made to such businesses;
- waives the Small Business Administration (SBA) Microloan Program's limit on an intermediary's spending on technical assistance for prospective borrowers if 25% of the intermediary's loans are made to these businesses
- requires the Government Accountability Office to report on intermediary participation;
- reduces or eliminates SBA fees on certain loans to such businesses; and
- gives federal contract preference to such businesses.
The SBA shall establish (1) a Veteran Business Outreach Center in Puerto Rico, and (2) a temporary Federal and State Technology (FAST) grant program to provide assistance to Puerto Rico businesses.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Puerto Rico Small Business Assistance Act of 2019
Latest action (Jan 3, 2019): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: Jan 3, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.