118th Congress Agriculture and Food
S. 2996: Rural Microentrepreneur Assistance Act of 2023
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill reauthorizes through FY2028 and revises the Rural Microentrepreneur Assistance Program (RMAP). This Department of Agriculture program provides loans to eligible microenterprise development organizations to capitalize revolving loan funds that provide loans to qualified rural microenterprises.
The bill increases the amount a rural microenterprise may borrow to up to $75,000 (from up to $50,000).
The bill also increases the maximum allowable federal cost share to 100% (from 75%). The bill further specifies that a RMAP project loan may not be used to cover more than 50% of any demolition, construction, or related costs of real estate improvements.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Tina Smith D-MNOriginal
Who scored on this bill
- 1Pete Ricketts SponsorDrew cross-party cosponsors, introduced2 events+6
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History
- Introduced in the Senate by Pete Ricketts.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.