To amend the Small Business Jobs Act of 2010 to enhance the provisions of the Small Business Lending Fund Program, to amend the Small Business Investment Act of 1958 to create a Small Business Early-Stage Investment Program, and to create the Small Business Borrower Assistance Program.

Summary: Small Business Jobs Amendments Act of 2010 - Amends the Small Business Jobs Act of 2010 with respect to the Small Business Lending Fund Program (Program) to: (1) remove the requirement that a community development loan fund (CDLF) be a tax-exempt entity; (2) include as an eligible institution under the Program any small business lending company that has total assets equal to or less than $10 billion; and (3) include as authorized small business lending nonowner-occupied commercial real estate loans. Directs the Secretary of the Treasury to develop eligibility criteria to determine the financial ability of a CDLF to participate in the Program.

Allows CDLFs to apply to receive from the Small Business Lending Fund up to 10% (current law allows up to 5%) of the total assets of the CDLF for investment in small businesses.

Provides: (1) dividend and interest incentives for participating loan institutions based on increases in small business lending; and (2) an authorized alternative computation of small business lending by such institutions. Requires eligible institutions to: (1) provide Program outreach to Indian tribes; and (2) include on its Internet website a statement that the institution is seeking to make small business loans and may not discriminate on the basis of race, color, religion, national origin, sex, marital status, or age. Requires the Secretary, in exercising loan authorities, to consider increasing the availability of credit for small businesses operating on tribal trust lands or other Indian areas.

Authorizes an eligible institution to temporarily amortize, for up to a 10-year period, any loan loss or write-down in order to increase the availability of credit for small businesses.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Jobs Amendments Act 
of 2010''.

SEC. 2. SMALL BUSINESS LENDING FUND AMENDMENTS.

    (a) In General.--Subtitle A of title IV of the Small Business Jobs 
Act of 2010 is amended--
            (1) in section 4102--
                    (A) in paragraph (8)--
                            (i) in subparagraph (A), by adding ``and'' 
                        at the end;
                            (ii) by striking subparagraph (B); and
                            (iii) by redesignating subparagraph (C) as 
                        subparagraph (B).
                    (B) in paragraph (11)--
                            (i) in subparagraph (C), by striking 
                        ``and'' at the end;
                            (ii) in subparagraph (D), by striking the 
                        period at the end and inserting ``; and''; and
                            (iii) by adding at the end the following 
                        new subparagraph:
                    ``(D) any small business lending company that has 
                total assets of equal to or less than 
                $10,000,000,000.'';
                    (C) in paragraph (18)(A)--
                            (i) by inserting after ``such lending'' the 
                        following: ``is made to a small business and''; 
                        and
                            (ii) by adding at the end the following new 
                        clause:
                            ``(v) Nonowner-occupied commercial real 
                        estate loans.''; and
                    (D) by adding at the end the following new 
                paragraphs:
            ``(20) Small business.--The term `small business' has the 
        meaning given the term `small business concern' under section 3 
        of the Small Business Act (15 U.S.C. 632).
            ``(21) Small business lending company.--The term `small 
        business lending company' has the meaning given such term under 
        section 3(r)(1) of the Small Business Act (15 U.S.C. 
        632(r)(1)).'';
            (2) in section 4103--
                    (A) in subsection (b)--
                            (i) in paragraph (1), by striking the 
                        period at the end and inserting the following: 
                        ``, and, notwithstanding other provisions of 
                        Federal law, such debt instruments issued by an 
                        eligible institution organized in mutual form 
                        or that has made a valid election to be taxed 
                        under subchapter S of chapter 1 of the Internal 
                        Revenue Code of 1986 shall be included as a 
                        component of tier 1 capital.''; and
                            (ii) in paragraph (4), by amending 
                        subparagraph (B) to read as follows:
                    ``(B) Eligible standards.--The Secretary, in 
                consultation with the Community Development Financial 
                Institutions Fund, shall develop eligibility criteria 
                to determine the financial ability of a CDLF to 
                participate in the Program and repay the investment. 
                Such criteria may include net asset ratio to total 
                assets, ratio of loan loss reserves to loans and leases 
                90 days or more delinquent (including loans sold with 
                full recourse), positive net income measured on a 3-
                year rolling average, operating liquidity ratio, ratio 
                of loans and leases 90 days or more delinquent 
                (including loans sold with full recourse) to total 
                equity plus loan loss reserves, or any other measures 
                deemed appropriate. In addition, CDLFs participating in 
                the Program shall submit audited financial statements 
                to the Secretary, have a clean audit opinion, and have 
                at least three years of operating experience.'';
                    (B) in subsection (d)--
                            (i) in paragraph (1)(F), by striking ``5 
                        percent'' and inserting ``10 percent'';
                            (ii) in paragraph (5), by adding at the end 
                        the following new subparagraphs:
                    ``(J) Incentives contingent on an increase in the 
                number of loans made.--For any quarter during the first 
                4\1/2\-year period following the date on which an 
                eligible institution receives a capital investment 
                under the Program, other than the first such quarter, 
                in which the institution's change in the amount of 
                small business lending relative to the baseline is 
                positive, if the number of loans made by the 
                institution does not increase by 2.5 percent for each 
                2.5 percent increase of small business lending, then 
                the rate at which dividends and interest shall be 
                payable during the following quarter on preferred stock 
                or other financial instruments issued to the Treasury 
                by the eligible institution shall be--
                            ``(i) 5 percent, if such quarter is within 
                        the 2-year period following the date on which 
                        the eligible institution receives the capital 
                        investment under the Program; or
                            ``(ii) 7 percent, if such quarter is after 
                        such 2-year period.
                    ``(K) Alternative computation.--An eligible 
                institution may choose to compute their small business 
                lending amount by computing the amount of small 
                business lending, as if the definition of such term did 
                not require that the loans comprising such lending be 
                made to small business. Any eligible institution 
                choosing to compute their small business lending in 
                this manner shall certify that all lending included by 
                the institution for purposes of computing the increase 
                in lending under this paragraph was made to small 
                businesses.''; and
                            (iii) in paragraph (8)--
                                    (I) by amending the heading to read 
                                as follows: ``Outreach to minorities, 
                                women, veterans, and indian tribes'';
                                    (II) in subparagraph (B), by 
                                striking ``and'' at the end;
                                    (III) in subparagraph (C), by 
                                striking the period at the end and 
                                inserting ``; and''; and
                                    (IV) by adding at the end the 
                                following new subparagraph:
                    ``(D) represent or work with or are members of 
                Indian Tribes.''; and
                    (C) by adding at the end the following new 
                subsection:
    ``(e) Notification to Customers.--Any eligible institution 
receiving funds under the Program shall--
            ``(1) disclose on every applicable loan transaction that 
        the loan is being made possible by the Program; and
            ``(2) if such institution has an established internet 
        website, such institution shall make available on its internet 
        website--
                    ``(A) the written reports made by the Secretary 
                pursuant to paragraphs (1) and (2) of section 
                4107(b)(3); and
                    ``(B) a statement that the institution, as a 
                participant in the Program, is seeking to make small 
                business loans to qualified borrowers and may not 
                discriminate on the basis of any factor prohibited 
                under the Equal Credit Opportunity Act, including the 
                race, color, religion, national origin, sex, marital 
                status, or age.'';
            (3) in section 4105--
                    (A) in paragraph (8), by striking ``and'' at the 
                end;
                    (B) in paragraph (9), by striking the period at the 
                end and inserting ``; and''; and
                    (C) by adding at the end the following new 
                paragraph:
            ``(10) increasing the availability of credit for small 
        businesses operating on Tribal trust lands or other Indian 
        areas.'';
            (4) by redesignating section 4113 as section 4114; and
            (5) by inserting after section 4112 the following new 
        section:

``SEC. 4113. TEMPORARY AMORTIZATION AUTHORITY.

    ``(a) Purpose.--The purpose of this section is to address the 
ongoing effects of the financial crisis on small businesses by 
providing temporary authority to amortize losses or write-downs in 
order to increase the availability of credit for small businesses.
    ``(b) In General.--For purposes of capital calculation under the 
Financial Institutions Examination Council's Consolidated Reports of 
Condition, an eligible institution may choose to amortize any loss or 
write-down, on a quarterly straight line basis over a period determined 
under subsection (c), beginning with the month in which such loss or 
write-down occurs, resulting from the application of FASB Statement 114 
or 144 to--
            ``(1) other real estate owned (as defined under section 
        34.81 of title 12, Code of Federal Regulation), or
            ``(2) an impaired loan secured by real estate,
provided that the institution discloses the difference in the amount of 
the institution's capital, when calculated taking into account the 
temporary amortization, from the amount of the institution's capital 
when calculated without taking into account the temporary amortization 
on the Financial Institutions Examination Council's Consolidated 
Reports of Condition.
    ``(c) Amortization Requirements.--During the initial 2-year period 
referred to in section 4103(d)(5), an eligible institution's 
amortization period shall be adjusted to reflect the following schedule 
based on the institution's change in the amount of small business 
lending relative to the baseline:
            ``(1) If the amount of small business lending has increased 
        by less than 2.5 percent, the amortization period shall be 6 
        years.
            ``(2) If the amount of small business lending has increased 
        by 2.5 percent or greater, but by less than 5.0 percent, the 
        amortization period shall be 7 years.
            ``(3) If the amount of small business lending has increased 
        by 5.0 percent or greater, but by less than 7.5 percent, the 
        amortization period shall be 8 years.
            ``(4) If the amount of small business lending has increased 
        by 7.5 percent or greater, but by less than 10.0 percent, the 
        amortization period shall be 9 years.
            ``(5) If the amount of small business lending has increased 
        by 10 percent or greater, the amortization period shall be 10 
        years.
    ``(d) Minimum Underwriting Standards.--The appropriate Federal 
banking agency for an eligible institution that chooses to amortize any 
loss or write-down as permitted under subsection (b) shall, within 60 
days of the date of the enactment of this title, issue regulations 
defining minimum underwriting standards that must be used for loans 
made by the eligible institution.
    ``(e) Effective Date.--The provisions of this section shall apply 
to loan origination that occurred on or after January 1, 2003, and 
before January 1, 2008.''.
    (b) Technical Amendment.--The table of contents for the Small 
Business Jobs Act of 2010 is amended by striking the item related to 
section 4113 and inserting the following new items:

``4113. Temporary amortization authority.
``4114. Sense of Congress.''.

SEC. 3. EFFECTIVE DATE.

    This Act, and the amendments made by this Act, shall take effect on 
the later of the following:
            (1) The date of the enactment of this Act.
            (2) The date of the enactment of the Small Business Jobs 
        Act of 2010.