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[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3976 Introduced in House (IH)]

112th CONGRESS
  2d Session
                                H. R. 3976

  To provide exporting assistance to small business concerns, and for 
                            other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            February 8, 2012

Ms. Velazquez introduced the following bill; which was referred to the 
Committee on Ways and Means, and in addition to the Committees on Small 
 Business, Financial Services, and Foreign Affairs, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
  of such provisions as fall within the jurisdiction of the committee 
                               concerned

_______________________________________________________________________

                                 A BILL

 
  To provide exporting assistance to small business concerns, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Enhancing Exports Through 
Entrepreneurship Act of 2012''.

SEC. 2. SMALL BUSINESS TAX CREDIT FOR COSTS ASSOCIATED WITH EXPANDING 
              EXPORT MARKETS.

    (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. 45S. CREDIT FOR SMALL BUSINESS COSTS OF EXPANDING EXPORT 
              MARKETS.

    ``(a) In General.--For purposes of section 38, in the case of a 
qualified small business, the small business export expansion credit 
for any taxable year is an amount equal to 25 percent of the export 
expansion expenses of the taxpayer paid or incurred during the taxable 
year.
    ``(b) Export Expansion Expenses.--For purposes of this section, the 
term `export expansion expenses' means amounts paid or incurred by the 
taxpayer for the purpose of increasing the amount of goods sold for 
consumption, or services provided, outside the United States. Such term 
shall not include the cost of goods sold (and similar amounts with 
respect to services provided).
    ``(c) Qualified Small Business.--For purposes of this section, the 
term `qualified small business' means a small business concern within 
the meaning of section 3 of the Small Business Act.''.
    (b) Credit To Be Part of General Business Credit.--
            (1) In general.--Subsection (b) of section 38 of such Code 
        is amended by striking ``plus'' at the end of paragraph (35), 
        by striking the period at the end of paragraph (36) and 
        inserting ``, plus'', and by adding at the end the following 
        new paragraph:
            ``(37) in the case of a qualified small business (as 
        defined in section 45S(c)), the small business export expansion 
        credit determined under section 45S(a).''.
            (2) Credit allowable against alternative minimum tax.--
        Subparagraph (B) of section 38(c)(4) of such Code is amended by 
        redesignating clauses (vii) through (ix) as clauses (viii) 
        through (x), respectively, and by inserting after clause (vi) 
        the following new clause:
                            ``(vii) the credit determined under section 
                        45S,''.
    (c) Clerical Amendment.--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. 45S. Credit for small business costs of expanding export 
                            markets.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.

SEC. 3. AVAILABILITY OF ESSENTIAL TRADE INFORMATION.

    Section 22(c)(7) of the Small Business Act (15 U.S.C. 649(c)(7)) is 
amended--
            (1) in subparagraph (C) by striking ``and'' at the end;
            (2) in subparagraph (D) by inserting ``and'' after the 
        semicolon; and
            (3) by adding at the end the following:
                    ``(E) compiling in a format that is accessible and 
                able to be understood by the owners of small business 
                concerns, making available to appropriate partner 
                entities (including small business development centers, 
                women's business centers, chapters of the Service Corps 
                of Retired Executives, Veterans Business Outreach 
                Centers, and Export Assistance Centers), and updating 
                each year a document that contains--
                            ``(i) the tariff schedules of all foreign 
                        countries (organized by industry sector); and
                            ``(ii) for each of the 50 foreign countries 
                        to which the highest total value of United 
                        States goods and services are exported (as 
                        determined by the Associate Administrator), 
                        information on the demand for goods and 
                        services in the country, including an 
                        identification of the 10 industry sectors with 
                        respect to which the highest total value of 
                        United States goods and services are exported 
                        to the country (as determined by the Associate 
                        Administrator);''.

SEC. 4. FOREIGN CUSTOMER MATCHMAKING.

    Section 22(c) of the Small Business Act (15 U.S.C. 649(c)) is 
amended--
            (1) in paragraph (12) by striking ``and'' at the end;
            (2) in paragraph (13) by striking the period and inserting 
        ``; and''; and
            (3) by adding at the end the following:
            ``(14) in coordination with the Department of Commerce and 
        other appropriate Federal departments and agencies, identify 
        and advertise to small business concerns programs and services 
        that facilitate the matching of foreign customers to small 
        business concerns, including--
                    ``(A) any program administered by a Federal 
                department or agency that assists small business 
                concerns to identify and meet with foreign buyers, 
                partners, or sales representatives; and
                    ``(B) any service of a Federal department or agency 
                that assists small business concerns to participate in 
                personalized business matchmaking, trade missions, 
                reverse trade missions, or trade shows.''.

SEC. 5. LOANS TO SMALL BUSINESSES BY THE EXPORT-IMPORT BANK.

    Section 2(b)(1)(E)(v) of the Export-Import Bank Act of 1945 (12 
U.S.C. 635(b)(1)(E)(v)) is amended--
            (1) in the first sentence, by inserting ``, and from the 
        aggregate loan authority available to it, an amount to so 
        finance such exports which shall be not less than 30 percent of 
        such authority for each fiscal year'' before the period; and
            (2) by adding at the end the following new sentence: ``The 
        Bank shall charge interest and fees to the extent necessary to 
        fully offset the costs of making loans under this clause.''.

SEC. 6. INCREASE IN SMALL BUSINESS INVESTMENT BY OVERSEAS PRIVATE 
              INVESTMENT CORPORATION.

    (a) In General.--Title IV of chapter 2 of part I of the Foreign 
Assistance Act of 1961 is amended--
            (1) in section 231(e)(2) (22 U.S.C. 2191(e)(2)), by 
        striking ``30 percent'' and inserting ``40 percent'';
            (2) in section 233(b) (22 U.S.C. 2193(b)), by striking 
        ``two of the eight'' and inserting ``three of the eight''; and
            (3) in section 240(a) (22 U.S.C. 2200(a)), by striking ``50 
        percent'' and inserting ``60 percent''.
    (b) Effective Date.--The amendments made by subsection (a) take 
effect on the date of the enactment of this Act and apply with respect 
each fiscal year beginning on or after such date of enactment.

SEC. 7. LIMITATIONS ON DUTIES THAT APPLY TO CERTAIN GOODS AND SERVICES 
              IMPORTED INTO THE UNITED STATES FOR USE BY SMALL BUSINESS 
              CONCERNS.

    (a) Limitation on HTS Duties.--Notwithstanding any other provision 
of law, the rate of duty under the HTS that applies to a covered good 
or covered service that is imported into the United States shall not 
exceed the lesser of--
            (1) the rate of duty that applies to the good or service on 
        the date on which the good or service is purchased by a small 
        business concern; or
            (2) the rate of duty that applies to the good or service at 
        the time of entry.
    (b) Limitation on Additional Duties.--
            (1) In general.--Notwithstanding any other provision of 
        law, no additional duty described in paragraph (2) shall apply 
        with respect to a covered good or covered service that is 
        imported into the United States.
            (2) Additional duties.--An additional duty described in 
        this paragraph is--
                    (A) a countervailing duty imposed under subtitle A 
                of title VII of the Tariff Act of 1930 (19 U.S.C. 1671 
                et seq.);
                    (B) an antidumping duty imposed under subtitle B of 
                title VII of the Tariff Act of 1930 (19 U.S.C. 1673 et 
                seq.); and
                    (C) any other additional duty imposed under any 
                other provision of law.
    (c) Documentation.--The Secretary shall require the importer of a 
good or service who, for purposes of this section, claims the good or 
service to be a covered good or covered service, as the case may be, to 
submit such documentation or other information to the Secretary as may 
be necessary to verify the accuracy of such claims.
    (d) Regulations.--The Secretary is authorized to prescribe such 
rules and regulations as are necessary to carry out the provisions of 
this section.
    (e) Definitions.--In this section:
            (1) Covered good.--The term ``covered good'' or ``good'' 
        means a good that is purchased by a small business concern for 
        use in its regular business operations.
            (2) Covered service.--The term ``covered service'' or 
        ``service'' means a service that is purchased by a small 
        business concern for use in its regular business operations.
            (3) HTS.--The term ``HTS'' means the Harmonized Tariff 
        Schedule of the United States.
            (4) Importer.--The term ``importer'' means--
                    (A) as such term relates to imports of goods, one 
                of the parties eligible to file the required customs 
                entry documentation or information pursuant to section 
                484(a)(2)(B) of the Tariff Act of 1930 (19 U.S.C. 
                1484(a)(2)(B)); and
                    (B) as such term relates to imports of services, 
                the importer of the service as defined by the Secretary 
                in rules and regulations promulgated by the Secretary.
            (5) Small business concern.--The term ``small business 
        concern'' has the meaning given such term for purposes of the 
        Small Business Act (15 U.S.C. 631 et seq.).
            (6) Secretary.--The term ``Secretary'' means the Secretary 
        of Homeland Security.
            (7) Time of entry.--The term ``time of entry'' means--
                    (A) as relates to imports of covered goods, the 
                time generally specified in section 484(a)(2)(A) of the 
                Tariff Act of 1930 (19 U.S.C. 1484(a)(2)(A)) and 
                prescribed in regulations (19 C.F.R. 141.68); and
                    (B) as relates to imports of services, the time 
                specified by the Secretary in rules and regulations 
                promulgated by the Secretary.
    (f) Effective Date.--This section takes effect on the date of the 
enactment of this Act and applies to covered goods and covered services 
entered, or withdrawn from warehouse for consumption, on or after the 
15th day after the date of the enactment of this Act.
                                 <all>
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