H.R. 2670, Microloan Modernization Act of 2015
Corrections and Updates
On July 13, 2015, CBO transmitted a cost estimate for H.R. 2670, the Microloan Modernization Act of 2015, as ordered reported by the House Committee on Small Business on June 10, 2015. This estimate replaces that one because CBO received new information from SBA about higher subsidy costs for the microloan program stemming from the new authority for intermediaries to offer lines of credit. Those additional costs would raise the total cost of implementing the bill from $2 million over the 2016-2020 period to $3 million over the same period; such spending would be subject to appropriation of the necessary amounts.