H.R. 7740: MICRO Business Success Act

116th Congress · introduced 2020-07-23 · Commerce · Latest: Referred to the House Committee on Small Business.

federal

Follow this bill, step by step

Where it came from: introduced 2020-07-23 · official record
Who proposed it: Rep. Chabot, Steve [R-OH-1] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
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.
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

MICRO Business Success Act

Plain summary

Microbusiness Improvement and Coronavirus Recovery Opportunities for Business Success Act of 2020 or the MICRO Business Success Act This bill provides designated Small Business Administration (SBA) assistance for small businesses with 10 or fewer employees. Specifically, out of the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), the bill allots $20 billion of remaining program funds for small businesses with 10 or fewer employees. Additionally, the bill raises the aggregate amount for SBA loans to such small businesses from $6 million to $10 million. The bill adds the expansion of such small businesses to the list of economic development objectives from which a small business development company must demonstrate at least one in order to qualify for SBA assistance. It also requires a participating small business development company to provide specified assistance to such small businesses.

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

MICRO Business Success Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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

Officials and money

Sponsor: Rep. Chabot, Steve [R-OH-1] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Troy Balderson (R-OH)

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

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-116hr7740.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/hr>

Record fed-us-cong116-hr7740 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116