S.3027 - Microenterprise Results and Accountability Act of 2004108th Congress (2003-2004)
Summary: S.3027 — 108th Congress (2003-2004)
Passed Senate without amendment (11/21/2004)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Microenterprise Results and Accountability Act of 2004 - (Sec. 3) Amends the Foreign Assistance Act of 1961 to repeal existing microenterprise development grant authority and reestablish and revise it as a separate title, title VI - Microenterprise Development Assistance.
Authorizes microenterprise development grant assistance in developing countries for: (1) expanding credit, savings, and other financial services; (2) training, technical assistance, and business development services; (3) capacity-building; and (4) policy and regulatory programs at the country level that improve the environment for microenterprise institutions serving the poor and very poor.
Establishes the Office of Microenterprise Development within the United States Agency for International Development (USAID), which shall provide assistance through: (1) partner organizations (obligates minimum fiscal year funding for such programs); and (2) direct central funding, including assistance to microenterprise and microfinance networks.
Targets 50 percent of microenterprise assistance for very poor clients, with required use of such funds through September 30, 2006, for: (1) financial and credit services to very poor clients; and (2) demand-driven business development programs to clients holding poverty loans.
Directs the Office to establish an assistance monitoring system which shall provide for: (1) performance goals and indicators; and (2) poverty assessment tools.
Directs the Office by April 1, 2005, to develop and certify for use at least two poverty measurement methods for partner organization use, which shall be used by such organizations no later than October 1, 2006.
Authorizes microenterprise development funds under any provision of law to be used to further the purposes of this title.
(Sec. 4) Transfers to this title authority for the microenterprise and small enterprise development credit program. Authorizes microenterprise development appropriations through FY 2009.
(Sec. 5) Transfers to this title authority for the United States Microfinance Loan Facility. Authorizes Facility appropriations through FY 2009.
(Sec. 6) Directs the Administrator of USAID, acting through the Office, to report annually on implementation of this title.
Defines specified terms.
(Sec. 7) Expresses the sense of Congress that the Administrator, with respect to microenterprise assistance, should: (1) seek non-U.S. Government matching funds; (2) ensure that recipient administrative expenses are reasonable; (3) not use recipients to carry out critical USAID management functions; and (4) consult with the appropriate congressional committees.