| Account | Description | FY2018 Spending |
FY2019 GAA |
|---|---|---|---|
| 7007-0801 | Microlending For microlending grants which shall be issued to established United States Treasury-certified community development financial institutions and United States Small Business Administration microlenders making direct microenterprise and small business loans to borrowers on a regional basis and providing technical assistance to applicants and borrowers in order to foster business establishment and success; provided, that the funds shall be used to support the eligible organizations' lending and technical assistance activities; provided further, that the Massachusetts office of business development shall file an annual report with the senate and house committees on ways and means identifying: (a) the United States Treasury-certified community development financial institutions receiving grant issuances; (b) the names and loan amounts of each business receiving grant funds from the lending institution; (c) the federal dollar match received as a result of making the loan; (d) the number of jobs created through the business loans; and (e) the number of failed loans; and provided further, that not less than $100,000 shall be allocated to South Eastern Economic Development Corporation and Common Capital, Inc. for these purposes |
100,000 | 300,000 |
Veto Explanation: I am striking language which earmarks funding for a program not recommended. The reduction in the item incorporates the amount of the stricken earmarked funds.