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H.R. 2488: Puerto Rico Small Business Assistance Act of 2017

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H.R. 2488: Puerto Rico Small Business Assistance Act of 2017

115th Congress · introduced 2017-05-17 · Commerce · Latest: Referred to the House Committee on Small Business.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2017-05-17 · official record
  2. Who proposed it: Rep. Velazquez, Nydia M. [D-NY-7] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the House Committee on Small Business. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Puerto Rico Small Business Assistance Act of 2017

Plain summary

Puerto Rico Small Business Assistance Act of 2017 This bill amends the Small Business Act regarding small businesses that have their principal office in Puerto Rico, including to temporarily: increase 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; waive 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; reduce or eliminate SBA fees on certain loans to such businesses; and give federal contract preference to such businesses, transfer specified technology or surplus property to them, and provide subcontracting incentives for their protege firms. 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. The SBA district office in Puerto Rico must temporarily report annually to Congress and the SBA on its activities in Puerto Rico.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Puerto Rico Small Business Assistance Act of 2017

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Velazquez, Nydia M. [D-NY-7] · 40 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Darren Soto (D-FL), Juan Vargas (D-CA), Terri A. Sewell (D-AL), Diana DeGette (D-CO), Joaquin Castro (D-TX), Judy Chu (D-CA), Yvette D. Clarke (D-NY), Adriano Espaillat (D-NY), Hakeem S. Jeffries (D-NY), Frank Pallone, Jr. (D-NJ), Robert C. "Bobby" Scott (D-VA), Kathy Castor (D-FL), Peter Welch (D-VT), Ruben Gallego (D-AZ), Maxine Waters (D-CA), Gregory W. Meeks (D-NY), Janice D. Schakowsky (D-IL), Doris O. Matsui (D-CA), Grace Meng (D-NY), Steny H. Hoyer (D-MD), Joyce Beatty (D-OH)

Sponsor's campaign money: Rep. Velazquez, Nydia M. [D-NY-7] reported raising $180,257 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong115-hr2488 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115