What is the official ID of this bill?

The official print number for this legislation is HR 1487.

When did the legislative process begin?

The process officially started on 2021-03-02.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/117/bills/hr1487/BILLS-117hr1487rfs.htm

Where is the official voting record?

The official roll call vote is recorded at: https://clerk.house.gov/evs/2021/roll115.xml

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

Who is the primary sponsor?

The primary sponsor is Rep. Burchett, Tim [R-TN-2].

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What is the latest detailed status?

The latest detailed status is: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 409 - 4 (Roll no. 115). (text: 04/14/2021 CR H1767)

Analysis and Potential Impact of HR 1487

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Increased Transparency for Small Business Microloans

Q: What are the main provisions?

Key points include: The government will publish annual reports on the effectiveness of the microloan program, accessible to everyone. Reports will include details on the number and amount of defaulted loans, fees, interest rates, and support for businesses in rural areas. This information will help evaluate whether the microloan program effectively supports small businesses and creates jobs, without disclosing borrowers' personal data.

New regulations enhance transparency in the microloan program for small businesses, making it easier for citizens to assess how public funds support local enterprises. Information on loans, repayment rates, and support for rural areas will be publicly available, which can help in making decisions about one's own business ventures.

Key points

The government will publish annual reports on the effectiveness of the microloan program, accessible to everyone.

Reports will include details on the number and amount of defaulted loans, fees, interest rates, and support for businesses in rural areas.

This information will help evaluate whether the microloan program effectively supports small businesses and creates jobs, without disclosing borrowers' personal data.

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99%

VOTING RESULTS

2021-04-16

For 409

Against 4

Abstain 0

Full voting results open_in_new

gavel

Status:

Expired

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Additional Information

Microloan Transparency and Accountability Act of 2021

Print number: HR 1487

Sponsor: Rep. Burchett, Tim [R-TN-2]

Process start date: 2021-03-02

Voting date: 2021-04-16

Meeting no: 1

Voting no: 115

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-2.5-flash-preview-05-20

Source data: api.congress.gov

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