H. Res. 921 

In the House of Representatives, U. S., 

January 16, 2008. 

Resolved, That upon the adoption of this resolution the 

bill (H.R. 4253) entitled ‘‘An Act to improve and expand 

small business assistance programs for veterans of the armed 

forces and military reservists, and for other purposes’’, with 

the Senate amendment thereto, shall be considered to have 

been taken from the Speaker’s table to the end that the Senate amendment thereto be, and the same is hereby, agreed to 

with the following amendment: 

In lieu of the matter proposed to be inserted by the 

amendment of the Senate, insert the following: 

1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Military Reservist and 

3 Veteran Small Business Reauthorization and Opportunity 

4 Act of 2008’’. 

5 SEC. 2. TABLE OF CONTENTS. 

6 The table of contents for this Act is as follows: 

Sec. 1. Short title. 

Sec. 2. Table of contents. 

Sec. 3. Definitions. 
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TITLE I—VETERANS BUSINESS DEVELOPMENT 

Sec. 101. Increased funding for the Office of Veterans Business Development. 

Sec. 102. Interagency task force. 

Sec. 103. Permanent extension of SBA Advisory Committee on Veterans Business 

Affairs. 

Sec. 104. Office of Veterans Business Development. 

Sec. 105. Increasing the number of outreach centers. 

Sec. 106. Independent study on gaps in availability of outreach centers. 

Sec. 107. Veterans assistance and services program. 

TITLE II—RESERVIST PROGRAMS 

Sec. 201. Reservist programs. 

Sec. 202. Reservist loans. 

Sec. 203. Noncollateralized loans. 

Sec. 204. Loan priority. 

Sec. 205. Relief from time limitations for veteran-owned small businesses. 

Sec. 206. Service-disabled veterans. 

Sec. 207. Study on options for promoting positive working relations between employers and their Reserve Component employees. 

Sec. 208. Increased Veteran Participation Program. 

1 SEC. 3. DEFINITIONS. 

2 In this Act— 

3 (1) the term ‘‘activated’’ means receiving an 

4 order placing a Reservist on active duty; 

5 (2) the term ‘‘active duty’’ has the meaning 

6 given that term in section 101 of title 10, United 

7 States Code; 

8 (3) the terms ‘‘Administration’’ and ‘‘Adminis9 trator’’ mean the Small Business Administration and 

10 the Administrator thereof, respectively; 

11 (4) the term ‘‘Reservist’’ means a member of a 

12 reserve component of the Armed Forces, as described 

13 in section 10101 of title 10, United States Code; 

14 (5) the term ‘‘Service Corps of Retired Execu15 tives’’ means the Service Corps of Retired Executives 
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1 authorized by section 8(b)(1) of the Small Business 

2 Act (15 U.S.C. 637(b)(1)); 

3 (6) the terms ‘‘service-disabled veteran’’ and 

4 ‘‘small business concern’’ have the meaning as in sec5 tion 3 of the Small Business Act (15 U.S.C. 632); 

6 (7) the term ‘‘small business development center’’ 

7 means a small business development center described 

8 in section 21 of the Small Business Act (15 U.S.C. 

9 648); and 

10 (8) the term ‘‘women’s business center’’ means a 

11 women’s business center described in section 29 of the 

12 Small Business Act (15 U.S.C. 656). 

13 TITLE I—VETERANS BUSINESS 

14 DEVELOPMENT 

15 SEC. 101. INCREASED FUNDING FOR THE OFFICE OF VET16 ERANS BUSINESS DEVELOPMENT. 

17 (a) IN GENERAL.—There are authorized to be appro18 priated to the Office of Veterans Business Development of 

19 the Administration, to remain available until expended— 

20 (1) $2,100,000 for fiscal year 2008; and 

21 (2) $2,300,000 for fiscal year 2009. 

22 (b) FUNDING OFFSET.—Amounts necessary to carry 

23 out subsection (a) shall be offset and made available through 

24 the reduction of the authorization of funding under section 
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1 20(e)(1)(B)(iv) of the Small Business Act (15 U.S.C. 631 

2 note). 

3 (c) SENSE OF CONGRESS.—It is the sense of Congress 

4 that any amounts provided pursuant to this section that 

5 are in excess of amounts provided to the Administration 

6 for the Office of Veterans Business Development in fiscal 

7 year 2007, should be used to support Veterans Business Out8 reach Centers. 

9 SEC. 102. INTERAGENCY TASK FORCE. 

10 Section 32 of the Small Business Act (15 U.S.C. 657b) 

11 is amended— 

12 (1) by redesignating subsection (c) as (f); and 

13 (2) by inserting after subsection (b) the fol14 lowing: 

15 ‘‘(c) INTERAGENCY TASK FORCE.— 

16 ‘‘(1) ESTABLISHMENT.—Not later than 90 days 

17 after the date of enactment of this subsection, the 

18 President shall establish an interagency task force to 

19 coordinate the efforts of Federal agencies necessary to 

20 improve capital and business development opportuni21 ties for, and ensure achievement of the pre-established 

22 Federal contracting goals for, small business concerns 

23 owned and controlled by service-disabled veterans and 

24 small business concerns owned and controlled by vet25 erans (in this section referred to as the ‘task force’). 
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1 ‘‘(2) MEMBERSHIP.—The members of the task 

2 force shall include— 

3 ‘‘(A) the Administrator, who shall serve as 

4 chairperson of the task force; and 

5 ‘‘(B) a senior level representative from— 

6 ‘‘(i) the Department of Veterans Af7 fairs; 

8 ‘‘(ii) the Department of Defense; 

9 ‘‘(iii) the Administration (in addition 

10 to the Administrator); 

11 ‘‘(iv) the Department of Labor; 

12 ‘‘(v) the Department of the Treasury; 

13 ‘‘(vi) the General Services Administra14 tion; 

15 ‘‘(vii) the Office of Management and 

16 Budget; and 

17 ‘‘(viii) 4 representatives from a vet18 erans service organization or military orga19 nization or association, selected by the 

20 President. 

21 ‘‘(3) DUTIES.—The task force shall— 

22 ‘‘(A) consult regularly with veterans service 

23 organizations and military organizations in per24 forming the duties of the task force; and 
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1 ‘‘(B) coordinate administrative and regu2 latory activities and develop proposals relating 

3 to— 

4 ‘‘(i) improving capital access and ca5 pacity of small business concerns owned 

6 and controlled by service-disabled veterans 

7 and small business concerns owned and con8 trolled by veterans through loans, surety 

9 bonding, and franchising; 

10 ‘‘(ii) ensuring achievement of the pre11 established Federal contracting goals for 

12 small business concerns owned and con13 trolled by service-disabled veterans and 

14 small business concerns owned and con15 trolled by veterans through expanded men16 tor-prote ́ge ́ assistance and matching such 

17 small business concerns with contracting 

18 opportunities; 

19 ‘‘(iii) increasing the integrity of cer20 tifications of status as a small business con21 cern owned and controlled by service-dis22 abled veterans or a small business concern 

23 owned and controlled by veterans; 

24 ‘‘(iv) reducing paperwork and admin25 istrative burdens on veterans in accessing 
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1 business development and entrepreneurship 

2 opportunities; 

3 ‘‘(v) increasing and improving train4 ing and counseling services provided to 

5 small business concerns owned and con6 trolled by veterans; and 

7 ‘‘(vi) making other improvements re8 lating to the support for veterans business 

9 development by the Federal Government.’’. 

10 SEC. 103. PERMANENT EXTENSION OF SBA ADVISORY COM11 MITTEE ON VETERANS BUSINESS AFFAIRS. 

12 (a) ASSUMPTION OF DUTIES.—Section 33 of the Small 

13 Business Act (15 U.S.C. 657c) is amended— 

14 (1) by striking subsection (h); and 

15 (2) by redesignating subsections (i) through (k) 

16 as subsections (h) through (j), respectively. 

17 (b) PERMANENT EXTENSION OF AUTHORITY.—Section 

18 203 of the Veterans Entrepreneurship and Small Business 

19 Development Act of 1999 (15 U.S.C. 657b note) is amended 

20 by striking subsection (h). 

21 SEC. 104. OFFICE OF VETERANS BUSINESS DEVELOPMENT. 

22 Section 32 of the Small Business Act (15 U.S.C. 657b) 

23 is amended by inserting after subsection (c) (as added by 

24 section 102) the following: 

25 ‘‘(d) PARTICIPATION IN TAP WORKSHOPS.— 
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1 ‘‘(1) IN GENERAL.—The Associate Administrator 

2 shall increase veteran outreach by ensuring that Vet3 eran Business Outreach Centers regularly participate, 

4 on a nationwide basis, in the workshops of the Tran5 sition Assistance Program of the Department of 

6 Labor. 

7 ‘‘(2) PRESENTATIONS.—In carrying out para8 graph (1), a Veteran Business Outreach Center may 

9 provide grants to entities located in Transition As10 sistance Program locations to make presentations on 

11 the opportunities available from the Administration 

12 for recently separating or separated veterans. Each 

13 presentation under this paragraph shall include, at a 

14 minimum, a description of the entrepreneurial and 

15 business training resources available from the Admin16 istration. 

17 ‘‘(3) WRITTEN MATERIALS.—The Associate Ad18 ministrator shall— 

19 ‘‘(A) create written materials that provide 

20 comprehensive information on self-employment 

21 and veterans entrepreneurship, including infor22 mation on resources available from the Adminis23 tration on such topics; and 

24 ‘‘(B) make the materials created under sub25 paragraph (A) available to the Secretary of 
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1 Labor for inclusion in the Transition Assistance 

2 Program manual. 

3 ‘‘(4) REPORTS.—The Associate Administrator 

4 shall submit to Congress progress reports on the im5 plementation of this subsection. 

6 ‘‘(e) WOMEN VETERANS BUSINESS TRAINING.—The 

7 Associate Administrator shall— 

8 ‘‘(1) compile information on existing resources 

9 available to women veterans for business training, in10 cluding resources for— 

11 ‘‘(A) vocational and technical education; 

12 ‘‘(B) general business skills, such as mar13 keting and accounting; and 

14 ‘‘(C) business assistance programs targeted 

15 to women veterans; and 

16 ‘‘(2) disseminate the information compiled under 

17 paragraph (1) through Veteran Business Outreach 

18 Centers and women’s business centers.’’. 

19 SEC. 105. INCREASING THE NUMBER OF OUTREACH CEN20 TERS. 

21 (a) IN GENERAL.—The Administrator shall use the au22 thority in section 8(b)(17) of the Small Business Act (15 

23 U.S.C. 637(b)(17)) to ensure that the number of Veterans 

24 Business Outreach Centers throughout the United States in25 creases— 
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1 (1) subject to subsection (b), by at least 2, for 

2 each of fiscal years 2008 and 2009; and 

3 (2) by the number that the Administrator con4 siders appropriate, based on need, for each fiscal year 

5 thereafter. 

6 (b) LIMITATION.—Subsection (a)(1) shall apply in a 

7 fiscal year if, for that fiscal year, the amount made avail8 able for the Office of Veterans Business Development is more 

9 than the amount made available for the Office of Veterans 

10 Business Development for fiscal year 2007. 

11 SEC. 106. INDEPENDENT STUDY ON GAPS IN AVAILABILITY 

12 OF OUTREACH CENTERS. 

13 The Administrator shall sponsor an independent study 

14 on gaps in the availability of Veterans Business Outreach 

15 Centers across the United States, to inform decisions on 

16 funding and on the allocation and coordination of re17 sources. Not later than 6 months after the date of enactment 

18 of this Act, the Administrator shall submit to Congress a 

19 report on the results of the study. 

20 SEC. 107. VETERANS ASSISTANCE AND SERVICES PROGRAM. 

21 Section 21 of the Small Business Act (15 U.S.C. 648) 

22 is amended by adding at the end the following: 

23 ‘‘(n) VETERANS ASSISTANCE AND SERVICES PRO24 GRAM.— 
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1 ‘‘(1) IN GENERAL.—A small business develop2 ment center may apply for a grant under this sub3 section to carry out a veterans assistance and services 

4 program. 

5 ‘‘(2) ELEMENTS OF PROGRAM.—Under a pro6 gram carried out with a grant under this subsection, 

7 a small business development center shall— 

8 ‘‘(A) create a marketing campaign to pro9 mote awareness and education of the services of 

10 the center that are available to veterans, and to 

11 target the campaign toward veterans, service-dis12 abled veterans, military units, Federal agencies, 

13 and veterans organizations; 

14 ‘‘(B) use technology-assisted online coun15 seling and distance learning technology to over16 come the impediments to entrepreneurship faced 

17 by veterans and members of the Armed Forces; 

18 and 

19 ‘‘(C) increase coordination among organiza20 tions that assist veterans, including by estab21 lishing virtual integration of service providers 

22 and offerings for a one-stop point of contact for 

23 veterans who are entrepreneurs or owners of 

24 small business concerns. 
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1 ‘‘(3) AMOUNT OF GRANTS.—A grant under this 

2 subsection shall be for not less than $75,000 and not 

3 more than $250,000. 

4 ‘‘(4) FUNDING.—Subject to amounts approved in 

5 advance in appropriations Acts, the Administration 

6 may make grants or enter into cooperative agreements 

7 to carry out the provisions of this subsection.’’. 

8 TITLE II—RESERVIST PROGRAMS 

9 SEC. 201. RESERVIST PROGRAMS. 

10 (a) APPLICATION PERIOD.—Section 7(b)(3)(C) of the 

11 Small Business Act (15 U.S.C. 636(b)(3)(C)) is amended— 

12 (1) by striking ‘‘90 days’’ and inserting ‘‘1 

13 year’’; and 

14 (2) by adding at the end the following: ‘‘The Ad15 ministrator may, when appropriate (as determined 

16 by the Administrator), extend the ending date speci17 fied in the preceding sentence by not more than 1 

18 year.’’. 

19 (b) PRE-CONSIDERATION PROCESS.— 

20 (1) DEFINITION.—In this subsection, the term 

21 ‘‘eligible Reservist’’ means a Reservist who— 

22 (A) has not been ordered to active duty; 

23 (B) expects to be ordered to active duty dur24 ing a period of military conflict; and 
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1 (C) can reasonably demonstrate that the 

2 small business concern for which that Reservist 

3 is a key employee will suffer economic injury in 

4 the absence of that Reservist. 

5 (2) ESTABLISHMENT.—Not later than 6 months 

6 after the date of enactment of this Act, the Adminis7 trator shall establish a pre-consideration process, 

8 under which the Administrator— 

9 (A) may collect all relevant materials nec10 essary for processing a loan to a small business 

11 concern under section 7(b)(3) of the Small Busi12 ness Act (15 U.S.C. 636(b)(3)) before an eligible 

13 Reservist employed by that small business con14 cern is activated; and 

15 (B) shall distribute funds for any loan ap16 proved under subparagraph (A) if that eligible 

17 Reservist is activated. 

18 (c) OUTREACH AND TECHNICAL ASSISTANCE PRO19 GRAM.— 

20 (1) IN GENERAL.—Not later than 6 months after 

21 the date of enactment of this Act, the Administrator, 

22 in consultation with the Secretary of Veterans Affairs 

23 and the Secretary of Defense, may develop a com24 prehensive outreach and technical assistance program 

25 (in this subsection referred to as the ‘‘program’’) to— 
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1 (A) market the loans available under section 

2 7(b)(3) of the Small Business Act (15 U.S.C. 

3 636(b)(3)) to Reservists, and family members of 

4 Reservists, that are on active duty and that are 

5 not on active duty; and 

6 (B) provide technical assistance to a small 

7 business concern applying for a loan under that 

8 section. 

9 (2) COMPONENTS.—The program shall— 

10 (A) incorporate appropriate websites main11 tained by the Administration, the Department of 

12 Veterans Affairs, and the Department of Defense; 

13 and 

14 (B) require that information on the pro15 gram is made available to small business con16 cerns directly through— 

17 (i) the district offices and resource 

18 partners of the Administration, including 

19 small business development centers, women’s 

20 business centers, and the Service Corps of 

21 Retired Executives; and 

22 (ii) other Federal agencies, including 

23 the Department of Veterans Affairs and the 

24 Department of Defense. 

25 (3) REPORT.— 
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1 (A) IN GENERAL.—Not later than 6 months 

2 after the date of enactment of this Act, and every 

3 6 months thereafter until the date that is 30 

4 months after such date of enactment, the Admin5 istrator shall submit to Congress a report on the 

6 status of the program. 

7 (B) CONTENTS.—Each report submitted 

8 under subparagraph (A) shall include— 

9 (i) for the 6-month period ending on 

10 the date of that report— 

11 (I) the number of loans approved 

12 under section 7(b)(3) of the Small 

13 Business Act (15 U.S.C. 636(b)(3)); 

14 (II) the number of loans disbursed 

15 under that section; and 

16 (III) the total amount disbursed 

17 under that section; and 

18 (ii) recommendations, if any, to make 

19 the program more effective in serving small 

20 business concerns that employ Reservists. 

21 SEC. 202. RESERVIST LOANS. 

22 (a) IN GENERAL.—The Administrator and the Sec23 retary of Defense shall develop a joint website and printed 

24 materials providing information regarding any program 
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1 for small business concerns that is available to veterans or 

2 Reservists. 

3 (b) MARKETING.—The Administrator is authorized— 

4 (1) to advertise and promote the program under 

5 section 7(b)(3) of the Small Business Act jointly with 

6 the Secretary of Defense and veterans’ service organi7 zations; and 

8 (2) to advertise and promote participation by 

9 lenders in such program jointly with trade associa10 tions for banks or other lending institutions. 

11 SEC. 203. NONCOLLATERALIZED LOANS. 

12 Section 7(b)(3) of the Small Business Act (15 U.S.C. 

13 636(b)(3)) is amended by adding at the end the following: 

14 ‘‘(G)(i) Notwithstanding any other provi15 sion of law, the Administrator may make a loan 

16 under this paragraph of not more than $50,000 

17 without collateral. 

18 ‘‘(ii) The Administrator may defer payment 

19 of principal and interest on a loan described in 

20 clause (i) during the longer of— 

21 ‘‘(I) the 1-year period beginning on the 

22 date of the initial disbursement of the loan; 

23 and 

24 ‘‘(II) the period during which the rel25 evant essential employee is on active duty.’’. 
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1 SEC. 204. LOAN PRIORITY. 

2 Section 7(b)(3) of the Small Business Act (15 U.S.C. 

3 636(b)(3)), as amended by this Act, is amended by adding 

4 at the end the following: 

5 ‘‘(H) The Administrator shall give priority 

6 to any application for a loan under this para7 graph and shall process and make a determina8 tion regarding such applications prior to proc9 essing or making a determination on other loan 

10 applications under this subsection, on a rolling 

11 basis.’’. 

12 SEC. 205. RELIEF FROM TIME LIMITATIONS FOR VETERAN13 OWNED SMALL BUSINESSES. 

14 Section 3(q) of the Small Business Act (15 U.S.C. 

15 632(q)) is amended by adding at the end the following: 

16 ‘‘(5) RELIEF FROM TIME LIMITATIONS.— 

17 ‘‘(A) IN GENERAL.—Any time limitation on 

18 any qualification, certification, or period of par19 ticipation imposed under this Act on any pro20 gram that is available to small business concerns 

21 shall be extended for a small business concern 

22 that— 

23 ‘‘(i) is owned and controlled by— 

24 ‘‘(I) a veteran who was called or 

25 ordered to active duty under a provi26 sion of law specified in section 
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1 101(a)(13)(B) of title 10, United 

2 States Code, on or after September 11, 

3 2001; or 

4 ‘‘(II) a service-disabled veteran 

5 who became such a veteran due to an 

6 injury or illness incurred or aggra7 vated in the active military, naval, or 

8 air service during a period of active 

9 duty pursuant to a call or order to ac10 tive duty under a provision of law re11 ferred to in subclause (I) on or after 

12 September 11, 2001; and 

13 ‘‘(ii) was subject to the time limitation 

14 during such period of active duty. 

15 ‘‘(B) DURATION.—Upon submission of 

16 proper documentation to the Administrator, the 

17 extension of a time limitation under subpara18 graph (A) shall be equal to the period of time 

19 that such veteran who owned or controlled such 

20 a concern was on active duty as described in 

21 that subparagraph. 

22 ‘‘(C) EXCEPTION FOR PROGRAMS SUBJECT

23 TO FEDERAL CREDIT REFORM ACT OF 1990.—The 

24 provisions of subparagraphs (A) and (B) shall 

25 not apply to any programs subject to the Federal 
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1 Credit Reform Act of 1990 (2 U.S.C. 661 et 

2 seq.).’’. 

3 SEC. 206. SERVICE-DISABLED VETERANS. 

4 Not later than 180 days after the date of enactment 

5 of this Act, the Comptroller General of the United States 

6 shall submit to the Committee on Small Business and En7 trepreneurship of the Senate and the Committee on Small 

8 Business of the House of Representatives a report describ9 ing— 

10 (1) the types of assistance needed by service-dis11 abled veterans who wish to become entrepreneurs; and 

12 (2) any resources that would assist such service13 disabled veterans. 

14 SEC. 207. STUDY ON OPTIONS FOR PROMOTING POSITIVE 

15 WORKING RELATIONS BETWEEN EMPLOYERS 

16 AND THEIR RESERVE COMPONENT EMPLOY17 EES. 

18 (a) STUDY REQUIRED.—The Comptroller General of 

19 the United States shall conduct a study on options for pro20 moting positive working relations between employers and 

21 Reserve component employees of such employers, including 

22 assessing options for improving the time in which employ23 ers of Reservists are notified of the call or order of such 

24 members to active duty other than for training. 

25 (b) REPORT.— 
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1 (1) IN GENERAL.—Not later than 180 days after 

2 the date of enactment of this Act, the Comptroller 

3 General of the United States shall submit to the ap4 propriate committees of Congress a report on the 

5 study conducted under subsection (a). 

6 (2) CONTENTS.—The report submitted under 

7 paragraph (1) shall— 

8 (A) provide a quantitative and qualitative 

9 assessment of— 

10 (i) what measures, if any, are being 

11 taken to inform Reservists of the obligations 

12 and responsibilities of such members to 

13 their employers; 

14 (ii) how effective such measures have 

15 been; and 

16 (iii) whether there are additional 

17 measures that could be taken to promote 

18 positive working relations between Reserv19 ists and their employers, including any 

20 steps that could be taken to ensure that em21 ployers are timely notified of a call to ac22 tive duty; and 

23 (B) assess whether there has been a reduc24 tion in the hiring of Reservists by business con25 cerns because of— 
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1 (i) any increase in the use of Reservists 

2 after September 11, 2001; or 

3 (ii) any change in any policy of the 

4 Department of Defense relating to Reservists 

5 after September 11, 2001. 

6 (c) APPROPRIATE COMMITTEES OF CONGRESS DE7 FINED.—In this section, the term ‘‘appropriate committees 

8 of Congress’’ means— 

9 (1) the Committee on Armed Services and the 

10 Committee on Small Business and Entrepreneurship 

11 of the Senate; and 

12 (2) the Committee on Armed Services and the 

13 Committee on Small Business of the House of Rep14 resentatives. 

15 SEC. 208. INCREASED VETERAN PARTICIPATION PROGRAM. 

16 Section 7(a) of the Small Business Act (15 U.S.C. 

17 636(a)) is amended by adding at the end the following: 

18 ‘‘(32) INCREASED VETERAN PARTICIPATION PRO19 GRAM.— 

20 ‘‘(A) DEFINITIONS.—In this paragraph— 

21 ‘‘(i) the term ‘cost’ has the meaning 

22 given that term in section 502 of the Fed23 eral Credit Reform Act of 1990 (2 U.S.C. 

24 661a); 
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1 ‘‘(ii) the term ‘pilot program’ means 

2 the pilot program established under sub3 paragraph (B); and 

4 ‘‘(iii) the term ‘veteran participation 

5 loan’ means a loan made under this sub6 section to a small business concern owned 

7 and controlled by veterans of the Armed 

8 Forces or members of the reserve components 

9 of the Armed Forces. 

10 ‘‘(B) ESTABLISHMENT.—The Administrator 

11 shall establish and carry out a pilot program 

12 under which the Administrator shall reduce the 

13 fees for veteran participation loans. 

14 ‘‘(C) DURATION.—The pilot program shall 

15 terminate at the end of the second full fiscal year 

16 after the date that the Administrator establishes 

17 the pilot program. 

18 ‘‘(D) MAXIMUM PARTICIPATION.—A veteran 

19 participation loan shall include the maximum 

20 participation levels by the Administrator per21 mitted for loans made under this subsection. 

22 ‘‘(E) FEES.— 

23 ‘‘(i) IN GENERAL.—The fee on a vet24 eran participation loan shall be equal to 50 
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1 percent of the fee otherwise applicable to 

2 that loan under paragraph (18). 

3 ‘‘(ii) WAIVER.—The Administrator 

4 may waive clause (i) for a fiscal year if— 

5 ‘‘(I) for the fiscal year before that 

6 fiscal year, the annual estimated rate 

7 of default of veteran participation 

8 loans exceeds that of loans made under 

9 this subsection that are not veteran 

10 participation loans; 

11 ‘‘(II) the cost to the Administra12 tion of making loans under this sub13 section is greater than zero and such 

14 cost is directly attributable to the cost 

15 of making veteran participation loans; 

16 and 

17 ‘‘(III) no additional sources of 

18 revenue authority are available to re19 duce the cost of making loans under 

20 this subsection to zero. 

21 ‘‘(iii) EFFECT OF WAIVER.—If the Ad22 ministrator waives the reduction of fees 

23 under clause (ii), the Administrator— 

24 ‘‘(I) shall not assess or collect fees 

25 in an amount greater than necessary 
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1 to ensure that the cost of the program 

2 under this subsection is not greater 

3 than zero; and 

4 ‘‘(II) shall reinstate the fee reduc5 tions under clause (i) when the condi6 tions in clause (ii) no longer apply. 

7 ‘‘(iv) NO INCREASE OF FEES.—The Ad8 ministrator shall not increase the fees under 

9 paragraph (18) on loans made under this 

10 subsection that are not veteran participa11 tion loans as a direct result of the pilot pro12 gram. 

13 ‘‘(F) GAO REPORT.— 

14 ‘‘(i) IN GENERAL.—Not later than 1 

15 year after the date that the pilot program 

16 terminates, the Comptroller General of the 

17 United States shall submit to the Committee 

18 on Small Business of the House of Rep19 resentatives and the Committee on Small 

20 Business and Entrepreneurship of the Sen21 ate a report on the pilot program. 

22 ‘‘(ii) CONTENTS.—The report sub23 mitted under clause (i) shall include— 
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1 ‘‘(I) the number of veteran par2 ticipation loans for which fees were re3 duced under the pilot program; 

4 ‘‘(II) a description of the impact 

5 of the pilot program on the program 

6 under this subsection; 

7 ‘‘(III) an evaluation of the effi8 cacy and potential fraud and abuse of 

9 the pilot program; and 

10 ‘‘(IV) recommendations for im11 proving the pilot program.’’. 

Attest: 

Clerk.