SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Veterans Small Business Opportunity 
Act of 2007''.

SEC. 2. DEFINITIONS.

    In this Act--
            (1) the term ``active duty'' has the meaning given that 
        term in section 101 of title 10, United States Code;
            (2) the terms ``Administration'' and ``Administrator'' 
        means the Small Business Administration and the Administrator 
        thereof, respectively;
            (3) the term ``member of the Guard or Reserve'' means a 
        member of a reserve component of the Armed Forces, as defined 
        in section 101 of title 10, United States Code;
            (4) the term ``Secretary'' means the Secretary of Defense; 
        and
            (5) the terms ``service-disabled veteran'', ``small 
        business concern'', ``small business concern owned and 
        controlled by service-disabled veterans'', ``small business 
        concern owned and controlled by veterans'', and ``veteran'' 
        have the meanings given those terms in section 3 of the Small 
        Business Act (15 U.S.C. 632).

SEC. 3. RELIEF FROM TIME LIMITATIONS FOR VETERAN-OWNED SMALL 
              BUSINESSES.

    Section 3(q) of the Small Business Act (15 U.S.C. 632(q)) is 
amended by adding at the end the following:
            ``(5) Relief from time limitations.--
                    ``(A) In general.--Any time limitation on any 
                qualification, certification, or period of 
                participation imposed under this Act on any program 
                available to small business concerns shall be extended 
                for a small business concern that--
                            ``(i) is owned and controlled by--
                                    ``(I) a veteran who was called or 
                                ordered to active duty under a 
                                provision of law specified in section 
                                101(a)(13)(B) of title 10, United 
                                States Code, on or after September 11, 
                                2001; or
                                    ``(II) a service-disabled veteran 
                                who became such a veteran due to an 
                                injury or illness incurred or 
                                aggravated in the active military, 
                                naval, or air service during a period 
                                of active duty pursuant to a call or 
                                order to active duty under a provision 
                                of law referred to in subclause (I) on 
                                or after September 11, 2001; and
                            ``(ii) was subject to the time limitation 
                        during such period of active duty.
                    ``(B) Duration.--Upon submission of proper 
                documentation to the Administrator, the extension of a 
                time limitation under subparagraph (A) shall be equal 
                to the period of time that such veteran who owned or 
                controlled such a concern was on active duty as 
                described in that subparagraph.''.

SEC. 4. STUDY ON OPTIONS FOR PROMOTING POSITIVE WORKING RELATIONS 
              BETWEEN EMPLOYERS AND THEIR RESERVE COMPONENT EMPLOYEES.

    (a) Study Required.--The Secretary shall conduct a study on options 
for promoting positive working relations between employers and Reserve 
component employees of such employers, including assessing options for 
improving the time in which employers of members of the Guard or 
Reserve are notified of the call or order of such members to active 
duty other than for training.
    (b) Report.--
            (1) In general.--Not later than 180 days after the date of 
        enactment of this Act, the Secretary shall submit to the 
        appropriate committees of Congress a report on the study 
        conducted under subsection (a).
            (2) Contents.--The report submitted under paragraph (1) 
        shall--
                    (A) describe what measures, if any, are being taken 
                to inform members of the Guard or Reserve of the 
                obligations and responsibilities of such members to 
                their employers;
                    (B) how effective such measures have been; and
                    (C) whether there are additional measures that 
                could be taken to promote positive working relations 
                between members of the Guard or Reserve and their 
                employers, including any steps that could be taken to 
                ensure that employers are timely notified of a call to 
                active duty.
    (c) Appropriate Committees of Congress Defined.--In this section, 
the term ``appropriate committees of Congress'' means--
            (1) the Committee on Armed Services and the Committee on 
        Small Business and Entrepreneurship of the Senate; and
            (2) the Committee on Armed Services and the Committee on 
        Small Business of the House of Representatives.

SEC. 5. LOANS.

    (a) Guard and Reserve Loans.--
            (1) In general.--Section 7(b)(3) of the Small Business Act 
        (15 U.S.C. 636(b)(3)) is amended--
                    (A) in subparagraph (E), by striking ``$1,500,000'' 
                each place such term appears and inserting 
                ``$2,000,000''; and
                    (B) by adding at the end the following:
                    ``(G) Notwithstanding any other provision of law, a 
                loan not greater than $25,000 may be made under this 
                paragraph without collateral.''.
            (2) Loan information.--
                    (A) In general.--The Administrator and the 
                Secretary shall develop a joint website and printed 
                materials providing information regarding any program 
                for small business concerns that is available to 
                veterans or Members of the Guard or Reserve.
                    (B) Marketing.--The Administrator is authorized--
                            (i) to advertise and promote the program 
                        under section 7(b)(3) of the Small Business Act 
                        jointly with the Secretary and veterans' 
                        service organizations; and
                            (ii) to advertise and promote participation 
                        by lenders in such program jointly with trade 
                        associations for banks or other lending 
                        institutions.
    (b) Study.--
            (1) In general.--The Administrator and the Secretary shall 
        jointly conduct a study of the feasibility of increasing the 
        utilization of credit unions affiliated with the Department of 
        Defense in programs administered by the Administrator.
            (2) Report.--Not later than 6 months after the date of 
        enactment of this Act, the Administrator and the Secretary 
        shall submit a joint report to the Committee on Small Business 
        and Entrepreneurship of the Senate and the Committee on Small 
        Business of the House of Representatives regarding the study 
        conducted under paragraph (1).

SEC. 6. INCREASED FUNDING FOR THE OFFICE OF VETERANS BUSINESS 
              DEVELOPMENT.

    Section 32 of the Small Business Act (15 U.S.C. 657b) is amended by 
striking subsection (c) and inserting the following:
    ``(c) Authorization of Appropriations.--There are authorized to be 
appropriated to carry out subsections (a) and (b), to remain available 
until expended--
            ``(1) $2,000,000 for fiscal year 2008;
            ``(2) $2,100,000 for fiscal year 2009; and
            ``(3) $2,200,000 for fiscal year 2010.''.

SEC. 7. INTERAGENCY TASK FORCE.

    Section 32 of the Small Business Act (15 U.S.C. 657b) is amended by 
adding at the end the following:
    ``(d) Interagency Task Force.--
            ``(1) Establishment.--Not later than 90 days after the date 
        of enactment of the Veterans Small Business Opportunity Act of 
        2007, the President shall establish an interagency task force 
        to coordinate the efforts of Federal agencies necessary to 
        increase capital and business development opportunities for, 
        and increase the award of Federal contracting and 
        subcontracting opportunities to, small business concerns owned 
        and controlled by service-disabled veterans and small business 
        concerns owned and controlled by veterans (in this section 
        referred to as the `task force').
            ``(2) Membership.--The members of the task force shall 
        include--
                    ``(A) the Administrator, who shall serve as 
                chairperson of the task force; and
                    ``(B) a representative from--
                            ``(i) the Department of Veterans Affairs;
                            ``(ii) the Department of Defense;
                            ``(iii) the Administration (in addition to 
                        the Administrator);
                            ``(iv) the Department of Labor;
                            ``(v) the General Services Administration; 
                        and
                            ``(vi) the Office of Management and Budget.
            ``(3) Duties.--The task force shall coordinate 
        administrative and regulatory activities and develop proposals 
        relating to--
                    ``(A) increasing capital access and capacity of 
                small business concerns owned and controlled by 
                service-disabled veterans and small business concerns 
                owned and controlled by veterans through loans, surety 
                bonding, and franchising;
                    ``(B) increasing access to Federal contracting and 
                subcontracting for small business concerns owned and 
                controlled by service-disabled veterans and small 
                business concerns owned and controlled by veterans 
                through increased use of contract reservations, 
                expanded mentor-protege assistance, and matching such 
                small business concerns with contracting opportunities;
                    ``(C) increasing the integrity of certifications of 
                status as a small business concern owned and controlled 
                by service-disabled veterans or a small business 
                concern owned and controlled by veterans;
                    ``(D) reducing paperwork and administrative burdens 
                on veterans in accessing business development and 
                entrepreneurship opportunities; and
                    ``(E) making other improvements relating to the 
                support for veterans business development by the 
                Federal Government.
            ``(4) Reporting.--The task force shall submit an annual 
        report regarding its activities and proposals to--
                    ``(A) the Committee on Small Business and 
                Entrepreneurship and the Committee on Veterans' Affairs 
                of the Senate; and
                    ``(B) the Committee on Small Business and the 
                Committee on Veterans' Affairs of the House of 
                Representatives.''.

SEC. 8. VETERAN-OWNED BUSINESS DATABASE IMPROVEMENTS.

    (a) Elimination of Duplicative Registrations.--Not later than 1 
year after the date of enactment of this Act, the Administrator and the 
Secretary of Veterans Affairs shall review any registration database 
operated by the Administration or the Department of Veterans Affairs 
(including the Pro-Net database of the Administration, the Vendor 
Information Pages database of the Department of Veterans Affairs, or 
any successor to either such database) and take appropriate action to 
ensure that one-stop online registration for all such databases is 
available to small business concerns owned and controlled by service-
disabled veterans and small business concerns owned and controlled by 
veterans seeking to participate in Federal contracting and 
subcontracting.
    (b) Certification Integrity.--The Administrator and the Secretary 
of Veterans Affairs shall establish criteria for the one-stop online 
registration described in subsection (a) that are in accordance with 
the requirements under any provision of law relating to the definitions 
of, certifications by, or representations of status as a small business 
concern owned and controlled by service-disabled veterans or a small 
business concern owned and controlled by veterans.

SEC. 9. BUSINESS DEVELOPMENT AND MENTOR-PROTEGE ASSISTANCE.

    Section 36 of the Small Business Act (15 U.S.C. 657f) is amended--
            (1) by redesignating subsection (e) as subsection (g); and
            (2) by inserting after subsection (d) the following:
    ``(e) Business Development and Mentor-Protege Assistance.--
            ``(1) In general.--
                    ``(A) In general.--Subject to subparagraph (B), the 
                Administrator, in cooperation with the Secretary of 
                Veterans Affairs, may develop a program for business 
                development assistance (including mentor-protege 
                assistance) for small business concerns owned and 
                controlled by service-disabled veterans (in this 
                subsection referred to as the `program').
                    ``(B) Condition.--In implementing the program, the 
                Administrator shall take steps to ensure that the 
                program helps to expand contracting opportunities for 
                small business concerns owned and controlled by 
                service-disabled veterans, while ensuring the continued 
                success of procurement programs for other small 
                business concerns.
            ``(2) Report.--Not later than 1 year after the date of 
        enactment of the Veterans Small Business Opportunity Act of 
        2007, the Administrator shall submit to the Committee on Small 
        Business and Entrepreneurship of the Senate and the Committee 
        on Small Business of the House of Representatives, a report 
        regarding--
                    ``(A) the feasibility of establishing and 
                administering the program; and
                    ``(B) the terms of assistance and internal controls 
                proposed for the program.''.

SEC. 10. COMPLIANCE WITH EXECUTIVE ORDER 13360.

    Section 36 of the Small Business Act (15 U.S.C. 657f) is amended by 
inserting after subsection (e), as added by this Act, the following:
    ``(f) Executive Order 13360.--Implementation of this section shall 
be consistent with the requirements of Executive Order 13360 (69 Fed. 
Reg. 62549; relating to providing opportunities for service-disabled 
veteran-owned businesses), as in effect on October 20, 2004.''.
Veterans Small Business Opportunity Act of 2007 - Amends the Small Business Act to extend certain small business loan time limits with respect to a small business owned and controlled by: (1) a veteran called to active duty on or after September 11, 2001; or (2) a service-disabled veteran who became disabled due to an injury or illness incurred or aggravated during a period of active duty on or after such date. Extends such time limits by the period that the veteran was on active duty.

Directs the Secretary of Defense to conduct a study for promoting positive working relations between employers and their reserve component employees.

Increases: (1) certain Small Business Administration (SBA) loan limits for small business owners who are members of the National Guard or reserves; and (2) SBA funding for the Office of Veterans Business Development.

Directs the President to establish an interagency task force to coordinate federal efforts to increase capital and business development opportunities for, and increase the award of federal contracting and subcontracting opportunities to, small businesses owned and controlled by disabled veterans and other veterans (businesses).

Requires the SBA Administrator and the Secretary of Veterans Affairs to ensure one-stop online registration for such small businesses.

Authorizes the Secretary to develop business development assistance for such small businesses.
A bill to provide additional relief for small business owners ordered to active duty as members of reserve components of the Armed Forces, and for other purposes.