To establish small metalworking business financial assistance programs, and for other purposes.

Summary: American Metalworking Manufacturers Support Act - Directs the Administrator of the Small Business Administration (SBA) to: (1) carry out a program to provide business stabilization loans to viable small metalworking businesses that have a qualifying SBA small business loan and are experiencing immediate financial hardship; and (2) establish a technical assistance program to assist a bank or other financial institution to provide such loans to such businesses. Prohibits the Administrator from charging any loan fees.

Makes specified funds available to the Secretary of the Treasury for the loan program. Limits each loan to a maximum of $3 million and 18 months, without interest.

Amends the Internal Revenue Code to provide a small metalworking business tax credit of 30% of the amount paid or incurred for metal parts, components, or assemblies produced for the taxpayer under a contract between the taxpayer and a small metalworking business.

SECTION 1. SHORT TITLE; FINDINGS.

    (a) Short Title.--This Act may be cited as the ``American 
Metalworking Manufacturers Support Act''.
    (b) Findings.--Congress finds the following:
            (1) There are roughly 35,000 metalworking companies with 
        approximately 2 million employees throughout the country who 
        manufacture critical products for the defense, aerospace, 
        medical, automotive, agriculture, and construction industries, 
        among many others.
            (2) Uncertainty surrounding the timeliness of paid 
        receivables, and a need for steady cash flow for day-to-day 
        operations and investments creates challenges for small middle 
        market manufactures who are a critical part of the industrial 
        supply chain.
            (3) In the current financial environment, most lending 
        institutions will not provide loans to metalworking companies.
            (4) The U.S. Government should help foster an environment 
        that encourages metalworking in America by supporting small 
        middle market manufacturers.
            (5) The Federal Government currently incentivizes larger 
        businesses and private contractors to use small businesses and 
        tax credits are important criteria to foster growth among small 
        middle market manufacturers.

        TITLE I--SMALL METALWORKING BUSINESS ASSISTANCE PROGRAMS

SEC. 101. DEFINITIONS.

    For purposes of this subtitle:
            (1) Cost.--The term ``cost'' has the same meaning as is 
        given the term ``cost'' in section 502(5) of the Federal Credit 
        Reform Act of 1990 (2 U.S.C. 661a(5)).
            (2) Small metalworking business.--The term ``small 
        metalworking business'' means a small business concern, as 
        defined under section 3(a) of the Small Business Act (15 U.S.C. 
        632(a)), whose primary purpose is the domestic manufacturing 
        and production of parts, components, or assemblies by using 
        metalworking and forming technologies, including metal 
        stamping, fabricating, slide forming, fine blanking, laser 
        cutting, punching, deep drawing, swaging, roll forming, 
        spinning, machining, grinding, rotary machining, cold heading, 
        forging, casting, wire electrical discharge machining, 
        conventional electrical discharge machining, and computer 
        numerical control machining.
            (3) Guarantee.--The term ``guarantee'' has the same meaning 
        as is given the term ``loan guarantee'' in section 502(3) of 
        the Federal Credit Reform Act of 1990 (2 U.S.C. 661a(3)).
            (4) Secretary.--The term ``Secretary'' means the Secretary 
        of the Treasury.

SEC. 102. LOANS AUTHORIZATION.

    (a) Loans Authorized.--Funding as may be necessary, not to exceed 
$10,000,000,000 for costs under this section shall be available to the 
Secretary, without further appropriation or fiscal year limitation, for 
the costs of such program. All funds received by the Secretary in 
connection with loans made pursuant to paragraph (b) shall be paid into 
the general fund of the Treasury for reduction of the public debt.
    (b) Terms and Conditions of Loans.--
            (1) In general.--A loan made pursuant to this section--
                    (A) shall be for a maximum amount of $3,000,000;
                    (B) shall be for a maximum period of 18 months, 
                after which the Secretary shall require any small 
                metalworking business receiving a loan to repay the 
                loan in full; and
                    (C) shall not obligate the recipient of such loan 
                to pay any interest.
            (2) Additional terms and conditions.--The Secretary may 
        establish additional terms and conditions with respect to loans 
        made under this section.
    (c) Application.--An eligible small metalworking business that 
seeks a loan under this section shall submit an application to the 
Secretary at such time, in such manner, and containing such information 
as the Secretary may require.

SEC. 103. SMALL METALWORKING BUSINESS STABILIZATION PROGRAM.

    (a) Definitions.--In this section--
            (1) the term ``Administrator'' means the Administrator of 
        the Small Business Administration;
            (2) the term ``qualifying small business loan'' means a 
        loan made under section 7(a) of the Small Business Act (15 
        U.S.C. 636(a)) to a small metalworking business before the date 
        of enactment of this Act;
            (3) the term ``small metalworking business'' means a small 
        business concern, as defined under section 3(a) of the Small 
        Business Act (15 U.S.C. 632(a)), whose primary purpose is the 
        domestic manufacturing and production of parts, components, or 
        assemblies by using metalworking and forming technologies, 
        including metal stamping, fabricating, slide forming, fine 
        blanking, laser cutting, punching, deep drawing, swaging, roll 
        forming, spinning, machining, grinding, rotary machining, cold 
        heading, forging, casting, wire electrical discharge machining, 
        conventional electrical discharge machining, and computer 
        numerical control machining; and
            (4) the term ``stabilization loan'' means a loan under the 
        program established under subsection (b) made by the 
        Administrator either in cooperation with a bank or other 
        financial institution through an agreement to participate on a 
        deferred (or guaranteed) basis or directly.
    (b) Establishment of a Loan Program.--Subject to the availability 
of appropriations, the Administrator shall carry out a program to 
provide stabilization loans to viable (as such term is defined pursuant 
to regulations prescribed by the Administrator) small metalworking 
businesses that have a qualifying small business loan and are 
experiencing immediate financial hardship.
    (c) Technical Assistance.--The Administrator shall establish a 
technical assistance program to assist a bank or other financial 
institution that has an agreement with the Administrator to provide 
stabilization loans.
    (d) Application.--To be eligible for a stabilization loan, a small 
metalworking business shall submit to the Administrator an application 
at such time, in such manner, and containing such information as the 
Administrator may require.
    (e) Use of Funds.--A stabilization loan shall be used to make 
periodic payments of principal and interest, either in full or in part, 
on a qualifying small business loan for--
            (1) amounts payable during a period of time not to exceed 6 
        months; or
            (2) a period of time during which the total amount of such 
        periodic payments does not exceed $50,000,
whichever is less.
    (f) Loan Terms.--A stabilization loan shall--
            (1) carry a 100 percent guaranty; and
            (2) have interest fully subsidized for the period of 
        repayment.
    (g) Repayment.--Repayment of a stabilization loan shall--
            (1) be amortized over a period of time not to exceed 5 
        years; and
            (2) begin not later than 12 months after the end of the 
        month or other period for which the last periodic payment (as 
        referred to in subsection (d)) is made.
    (h) Collateral.--The Administrator may accept any available 
collateral, including subordinated liens, to secure a stabilization 
loan.
    (i) Fees.--The Administrator may not charge any processing fees, 
origination fees, application fees, points, brokerage fees, bonus 
points, prepayment penalties, or other fees for a stabilization loan.
    (j) Sunset.--An application submitted under subsection (c) for a 
stabilization loan may not be accepted after December 31, 2010.

                      TITLE II--REVENUE PROVISION

SEC. 201. SMALL BUSINESS METALWORKING CREDIT.

    (a) In General.--Subpart D of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by adding at the end 
the following new section:

``SEC. 45R. SMALL METALWORKING BUSINESS CREDIT.

    ``(a) In General.--For purposes of section 38, the small 
metalworking business credit for any taxable year is an amount equal to 
30 percent of the amounts paid or incurred for metal parts, components, 
or assemblies produced for the taxpayer under a contract between the 
taxpayer and an eligible small metalworking business.
    ``(b) Eligible Small Metalworking Business.--For purposes of this 
section, the term `eligible small metalworking business' means any 
person--
            ``(1) who is unrelated to the taxpayer,
            ``(2) who is engaged in the trade or business of 
        metalworking in the United States, and
            ``(3) who is a small business as defined under section 3(a) 
        of the Small Business Act (15 U.S.C. 632(a)).
    ``(c) Definition and Special Rule.--For purposes of this section--
            ``(1) Metalworking.--For purposes of this section, the term 
        `metalworking' means the production of parts, components, or 
        assemblies by using metalworking and forming technologies, 
        including metal stamping, fabricating, slide forming, fine 
        blanking, laser cutting, punching, deep drawing, swaging, roll 
        forming, spinning, machining, grinding, rotary machining, cold 
        heading, forging, casting, wire electrical discharge machining, 
        conventional electrical discharge machining, and computer 
        numerical control machining.
            ``(2) Related person.--A person shall be treated as related 
        to another person if they bear a relationship to such other 
        person described in section 267(b) or 707(b).
            ``(3) Election not to take credit.--No credit shall be 
        determined under subsection (a) for any amount if the taxpayer 
        elects not to have this section apply to such amount.''.
    (b) Conforming Amendments.--
            (1) Section 38(b) of such Code is amended by striking 
        ``plus'' at the end of paragraph (34), by striking the period 
        at the end of paragraph (35) and inserting ``, plus'', and by 
        adding at the end the following new paragraph:
            ``(36) the small metalworking business credit determined 
        under section 45R(a).''.
            (2) The table of sections for subpart D of part IV of 
        subchapter A of chapter 1 of such Code is amended by adding at 
        the end the following new item:

``Sec. 45R. Small metalworking business credit.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.