Veterans Entrepreneurship Act

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Veterans Entrepreneurship Act''.

SEC. 2. DEFINITIONS.

    In this Act--
            (1) the term ``Administrator'' means the Administrator of 
        the Small Business Administration;
            (2) the term ``reserve component'' means a reserve 
        component of the Armed Forces named in section 10101 of title 
        10, United States Code;
            (3) the term ``small business concern'' has the meaning 
        given the term under section 3(a) of the Small Business Act (15 
        U.S.C. 632(a));
            (4) the term ``veteran'' has the meaning given the term 
        under section 3(q)(4) of the Small Business Act (15 U.S.C. 
        632(q)(4));
            (5) the term ``Veterans Business Outreach Center'' means a 
        veterans business outreach center described in section 32 of 
        the Small Business Act (15 U.S.C. 657b); and
            (6) the term ``women's business center'' means a women's 
        business center described in section 29 of the Small Business 
        Act (15 U.S.C. 656).

SEC. 3. PERMANENT SBA EXPRESS LOAN GUARANTEE FEE WAIVER FOR VETERANS.

    Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is 
amended--
            (1) in paragraph (18)(A), by striking ``With respect'' and 
        inserting ``Except as provided in paragraph (31), with 
        respect''; and
            (2) in paragraph (31), adding at the end the following:
                    ``(G) Guarantee fee waiver for veterans.--
                            ``(i) Definition.--In this subparagraph, 
                        the term `veteran or spouse of a veteran' 
                        means--
                                    ``(I) a veteran, as defined in 
                                section 3(q)(4);
                                    ``(II) a member of the Armed Forces 
                                serving on active duty who is eligible 
                                to participate in the Transition 
                                Assistance Program established under 
                                section 1144 of title 10, United States 
                                Code;
                                    ``(III) a member of a reserve 
                                component of the Armed Forces named in 
                                section 10101 of title 10, United 
                                States Code;
                                    ``(IV) the spouse of an individual 
                                described in subclause (I), (II), or 
                                (III); or
                                    ``(V) the surviving spouse of an 
                                individual described in subclause (I), 
                                (II), or (III) who died while serving 
                                on active duty or as a result of a 
                                service-connected (as defined in 
                                section 101 of title 38, United States 
                                Code) disability.
                            ``(ii) Guarantee fee waiver.--The 
                        Administrator may not assess a guarantee fee 
                        under paragraph (18) in connection with a loan 
                        made under this paragraph to a veteran or 
                        spouse of a veteran on or after October 1, 
                        2014.''.

SEC. 4. REPORT ON FINANCIAL PLANNING AND COUNSELING FOR OWNERS OF SMALL 
              BUSINESS CONCERNS IN THE NATIONAL GUARD AND RESERVES.

    Not later than 180 days after the date of enactment of this Act, 
the Administrator shall submit to Congress a report assessing the 
feasibility of providing financial planning and counseling to owners of 
small business concerns who are members of a reserve component prior to 
deployment.

SEC. 5. REPORT ON ACCESSIBILITY AND OUTREACH TO FEMALE VETERANS BY THE 
              SMALL BUSINESS ADMINISTRATION.

    Not later than 180 days after the date of enactment of this Act, 
the Administrator shall submit to Congress a report assessing the level 
of outreach to and consultation with female veterans by women's 
business centers and Veterans Business Outreach Centers.

SEC. 6. REPORT ON THE MILITARY RESERVISTS ECONOMIC INJURY DISASTER LOAN 
              PROGRAM.

    Not later than 180 days after the date of enactment of this Act, 
the Administrator shall submit to Congress a report on the Military 
Reservists Economic Injury Disaster Loan Program (in this section 
referred to as the ``program'') authorized under section 7(b)(3) of the 
Small Business Act (15 U.S.C. 636(b)(3)), which shall include--
            (1) a discussion of the outreach efforts of the Small 
        Business Administration to increase participation in the 
        program;
            (2) the number of loans made under the program;
            (3) an analysis of the effectiveness of the program; and
            (4) recommendations for improving the program.

Summary: Veterans Entrepreneurship Act - Amends the Small Business Act to prohibit the Administrator of the Small Business Administration (SBA) from assessing a guarantee fee in connection with a loan made under the SBA Express Program to a veteran or spouse of a veteran on or after October 1, 2014. Directs the Administrator to report to Congress on: (1) the feasibility of providing financial planning and counseling to owners of small business concerns who are members of a reserve component prior to deployment. (2) the level of outreach to and consultation with female veterans by women's business centers and veterans business outreach centers. And (3) the Military Reservists Economic Injury Disaster Loan Program, which shall include a discussion of SBA outreach efforts to increase participation, the number of loans made, and an analysis of the effectiveness of, and recommendations for improving, the Program.