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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3103 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 3103

    To help small businesses create new jobs and drive our Nation's 
                           economic recovery.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             March 10, 2010

   Ms. Snowe introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL

 
    To help small businesses create new jobs and drive our Nation's 
                           economic recovery.

    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 ``Small Business Job  
Creation Act of 2010''.

SEC. 2. TABLE OF CONTENTS.

    The table of contents for this Act is as follows:

Sec. 1. Short title.
Sec. 2. Table of contents.
                   TITLE I--SMALL BUSINESS TAX REFORM

Sec. 101. Extension of increase in expensing of certain depreciable 
                            business assets.
Sec. 102. Increased exclusion and other modifications applicable to 
                            qualified small business stock.
                      TITLE II--ACCESS TO CAPITAL

Sec. 201. Short title.
       Subtitle A--Next Steps for Main Street Credit Availability

Sec. 221. Section 7(a) business loans.
Sec. 222. Maximum loan amounts under 504 program.
Sec. 223. Maximum loan limits under microloan program.
Sec. 224. New Markets Venture Capital company investment limitations.
Sec. 225. Alternative size standards.
Sec. 226. Sale of 7(a) loans in secondary market.
Sec. 227. Online lending platform.
              Subtitle B--Small Business Access to Capital

Sec. 228. Low-interest refinancing under the local development business 
                            loan program.
                  TITLE III--SMALL BUSINESS EXPORTING

Sec. 301. Short title.
Sec. 302. Definitions.
Sec. 303. Office of International Trade.
Sec. 304. Duties of the Office of International Trade.
Sec. 305. Export assistance centers.
Sec. 306. International trade finance programs.
Sec. 307. State Trade and Export Promotion Grant Program.
Sec. 308. Rural export promotion.
Sec. 309. International trade cooperation by small business development 
                            centers.
               TITLE IV--SMALL BUSINESS REGULATORY REFORM

Sec. 401. Short title.
Sec. 402. Findings.
Sec. 403. Job impact statement for reported bills and joint 
                            resolutions.
Sec. 404. Clarification and expansion of rules covered by the 
                            Regulatory Flexibility Act.
Sec. 405. Requirements providing for more detailed analyses.
Sec. 406. Periodic review of rules.
Sec. 407. Office of Advocacy.
Sec. 408. Clerical amendments.
                       TITLE V--OTHER PROVISIONS

Sec. 501. Funds for SBDCs.
Sec. 502. Temporary waiver authority for women's business center 
                            program.
                           TITLE VI--FUNDING

Sec. 601. Offset.
Sec. 602. Emergency designation.

                   TITLE I--SMALL BUSINESS TAX REFORM

SEC. 101. EXTENSION OF INCREASE IN EXPENSING OF CERTAIN DEPRECIABLE 
              BUSINESS ASSETS.

    (a) In General.--Subsection (b) of section 179 of the Internal 
Revenue Code of 1986 is amended--
            (1) by striking ``($125,000 in the case of taxable years 
        beginning after 2006 and before 2011)'' in paragraph (1) and 
        inserting ``($250,000 in the case of taxable years beginning 
        after 2007 and before 2015)'',
            (2) by striking ``($500,000 in the case of taxable years 
        beginning after 2006 and before 2011)'' in paragraph (2) and 
        inserting ``($800,000 in the case of taxable years beginning 
        after 2007 and before 2015)'',
            (3) by striking paragraphs (5) and (7), and
            (4) by redesignating paragraph (6) as paragraph (5).
    (b) Extension of Expensing of Computer Software.--Section 
179(d)(1)(A)(ii) of the Internal Revenue Code of 1986 is amended by 
striking ``2011'' and inserting ``2015''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2009.

SEC. 102. INCREASED EXCLUSION AND OTHER MODIFICATIONS APPLICABLE TO 
              QUALIFIED SMALL BUSINESS STOCK.

    (a) Increased Exclusion.--
            (1) In general.--Subsection (a) of section 1202 of the 
        Internal Revenue Code of 1986 (relating partial exclusion for 
        gain from certain small business stock) is amended to read as 
        follows:
    ``(a) Exclusion.--Gross income shall not include 100 percent of any 
gain from the sale or exchange of qualified small business stock held 
for more than 4 years.''.
            (2) Rule relating to stock held among members of controlled 
        group.--Subsection (c) of section 1202 of such Code is amended 
        by adding at the end the following new paragraph:
            ``(4) Stock held among members of 25-percent controlled 
        group not eligible.--
                    ``(A) In general.--Stock of a member of a 25-
                percent controlled group shall not be treated as 
                qualified small business stock while held by another 
                member of such group.
                    ``(B) 25-percent controlled group.--For purposes of 
                subparagraph (A), the term `25-percent controlled 
                group' means any controlled group of corporations as 
                defined in section 1563(a)(1), except that--
                            ``(i) `more than 25 percent' shall be 
                        substituted for `at least 80 percent' each 
                        place it appears in section 1563(a)(1), and
                            ``(ii) section 1563(a)(4) shall not 
                        apply.''.
            (3) Conforming amendments.--
                    (A) Subsections (b)(2), (g)(2)(A), and (j)(1)(A) of 
                section 1202 of such Code are each amended by striking 
                ``5 years'' and inserting ``4 years''.
                    (B) The heading for section 1202 of such Code is 
                amended by striking ``partial''.
                    (C) The item relating to section 1202 in the table 
                of sections for part I of subchapter P of chapter 1 of 
                such Code is amended by striking ``Partial exclusion'' 
                and inserting ``Exclusion''.
                    (D) Section 1223(13) of such Code is amended by 
                striking ``1202(a)(2),''.
    (b) Repeal of Minimum Tax Preference.--
            (1) In general.--Subsection (a) of section 57 of the 
        Internal Revenue Code of 1986 (relating to items of tax 
        preference) is amended by striking paragraph (7).
            (2) Technical amendment.--Subclause (II) of section 
        53(d)(1)(B)(ii) of such Code is amended by striking ``, (5), 
        and (7)'' and inserting ``and (5)''.
    (c) Repeal of 28 Percent Capital Gains Rate on Qualified Small 
Business Stock.--
            (1) In general.--Subparagraph (A) of section 1(h)(4) of the 
        Internal Revenue Code of 1986 is amended to read as follows:
                    ``(A) collectibles gain, over''.
            (2) Conforming amendments.--
                    (A) Section 1(h) of such Code is amended by 
                striking paragraph (7).
                    (B)(i) Section 1(h) of such Code is amended by 
                redesignating paragraphs (8), (9), (10), (11), (12), 
                and (13) as paragraphs (7), (8), (9), (10), (11), and 
                (12), respectively.
                    (ii) Sections 163(d)(4)(B), 854(b)(5), 857(c)(2)(D) 
                of such Code are each amended by striking ``section 
                1(h)(11)(B)'' and inserting ``section 1(h)(10)(B)''.
                    (iii) The following sections of such Code are each 
                amended by striking ``section 1(h)(11)'' and inserting 
                ``section 1(h)(10)'':
                            (I) Section 301(f)(4).
                            (II) Section 306(a)(1)(D).
                            (III) Section 584(c).
                            (IV) Section 702(a)(5).
                            (V) Section 854(a).
                            (VI) Section 854(b)(2).
                    (iv) The heading of section 857(c)(2) is amended by 
                striking ``1(h)(11)'' and inserting ``1(h)(10)''.
    (d) Increase Aggregate Asset Limitation for Qualified Small 
Businesses.--
            (1) In general.--Paragraph (1) of section 1202(d) of the 
        Internal Revenue Code of 1986 (relating to qualified small 
        business) is amended by striking ``$50,000,000'' each place it 
        appears and inserting ``$100,000,000''.
            (2) Inflation adjustment.--Section 1202(d) of such Code is 
        amended by adding at the end the following new paragraph:
            ``(4) Inflation adjustment.--
                    ``(A) In general.--In the case of any taxable year 
                beginning in a calendar year after 2009, each of the 
                $100,000,000 dollar amounts in paragraph (1) shall be 
                increased by an amount equal to--
                            ``(i) such dollar amount, multiplied by
                            ``(ii) the cost-of-living adjustment 
                        determined under section 1(f)(3) for the 
                        calendar year in which the taxable year begins, 
                        determined by substituting `calendar year 2008' 
                        for `calendar year 1992' in subparagraph (B) 
                        thereof.
                    ``(B) Rounding.--If any amount as adjusted under 
                subparagraph (A) is not a multiple of $1,000, such 
                amount shall be rounded to the next lowest multiple of 
                $100.''.
    (e) Effective Date.--
            (1) In general.--The amendments made by this section apply 
        to stock issued after December 31, 2009.
            (2) Special rule for stock issued before january 1, 2010.--
        The amendments made by subsections (a), (b), and (c) shall 
        apply to sales or exchanges--
                    (A) made after December 31, 2009,
                    (B) of stock issued before such date, and
                    (C) by a taxpayer other than a corporation.

                      TITLE II--ACCESS TO CAPITAL

SEC. 201. SHORT TITLE.

    This title may be cited as the ``Small Business Job Creation and 
Access to Capital Act of 2010''.

       Subtitle A--Next Steps for Main Street Credit Availability

SEC. 221. SECTION 7(A) BUSINESS LOANS.

    (a) Amendment.--Section 7(a) of the Small Business Act (15 U.S.C. 
636(a)) is amended--
            (1) in paragraph (2)(A)--
                    (A) in clause (i), by striking ``75 percent'' and 
                inserting ``90 percent''; and
                    (B) in clause (ii), by striking ``85 percent'' and 
                inserting ``90 percent''; and
            (2) in paragraph (3)(A), by striking ``$1,500,000 (or if 
        the gross loan amount would exceed $2,000,000'' and inserting 
        ``$4,500,000 (or if the gross loan amount would exceed 
        $5,000,000''.
    (b) Prospective Repeal.--Effective January 1, 2011, section 7(a) of 
the Small Business Act (15 U.S.C. 636(a)) is amended--
            (1) in paragraph (2)(A)--
                    (A) in clause (i), by striking ``90 percent'' and 
                inserting ``75 percent''; and
                    (B) in clause (ii), by striking ``90 percent'' and 
                inserting ``85 percent''; and
            (2) in paragraph (3)(A), by striking ``$4,500,000'' and 
        inserting ``$3,750,000''.

SEC. 222. MAXIMUM LOAN AMOUNTS UNDER 504 PROGRAM.

    Section 502(2)(A) of the Small Business Investment Act of 1958 (15 
U.S.C. 696(2)(A)) is amended--
            (1) in clause (i), by striking ``$1,500,000'' and inserting 
        ``$5,000,000'';
            (2) in clause (ii), by striking ``$2,000,000'' and 
        inserting ``$5,000,000'';
            (3) in clause (iii), by striking ``$4,000,000'' and 
        inserting ``$5,500,000'';
            (4) in clause (iv), by striking ``$4,000,000'' and 
        inserting ``$5,500,000''; and
            (5) in clause (v), by striking ``$4,000,000'' and inserting 
        ``$5,500,000''.

SEC. 223. MAXIMUM LOAN LIMITS UNDER MICROLOAN PROGRAM.

    Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is 
amended--
            (1) in paragraph (1)(B)(iii), by striking ``$35,000'' and 
        inserting ``$50,000'';
            (2) in paragraph (3)--
                    (A) in subparagraph (C), by striking ``$3,500,000'' 
                and inserting ``$5,000,000''; and
                    (B) in subparagraph (E), by striking ``$35,000'' 
                each place that term appears and inserting ``$50,000''; 
                and
            (3) in paragraph (11)(B), by striking ``$35,000'' and 
        inserting ``$50,000''.

SEC. 224. NEW MARKETS VENTURE CAPITAL COMPANY INVESTMENT LIMITATIONS.

    Section 355 of the Small Business Investment Act of 1958 (15 U.S.C. 
689d) is amended by adding at the end the following:
    ``(e) Investment Limitations.--
            ``(1) Definition.--In this subsection, the term `covered 
        New Markets Venture Capital company' means a New Markets 
        Venture Capital company--
                    ``(A) granted final approval by the Administrator 
                under section 354(e) on or after March 1, 2002; and
                    ``(B) that has obtained a financing from the 
                Administrator.
            ``(2) Limitation.--Except to the extent approved by the 
        Administrator, a covered New Markets Venture Capital company 
        may not acquire or issue commitments for securities under this 
        title for any single enterprise in an aggregate amount equal to 
        more than 10 percent of the sum of--
                    ``(A) the regulatory capital of the covered New 
                Markets Venture Capital company; and
                    ``(B) the total amount of leverage projected in the 
                participation agreement of the covered New Markets 
                Venture Capital.''.

SEC. 225. ALTERNATIVE SIZE STANDARDS.

    Section 3(a) of the Small Business Act (15 U.S.C. 632(a)) is 
amended by adding at the end the following:
    ``(5) Alternative Size Standard.--
            ``(A) In general.--The Administrator shall establish an 
        alternative size standard for applicants for business loans 
        under section 7(a) and applicants for development company loans 
        under title V of the Small Business Investment Act of 1958 (15 
        U.S.C. 695 et seq.), that uses maximum tangible net worth and 
        average net income as an alternative to the use of industry 
        standards.
            ``(B) Interim rule.--Until the date on which the 
        alternative size standard established under subparagraph (A) is 
        in effect, an applicant for a business loan under section 7(a) 
        or an applicant for a development company loan under title V of 
        the Small Business Investment Act of 1958 may be eligible for 
        such a loan if--
                    ``(i) the maximum tangible net worth of the 
                applicant is not more than $15,000,000; and
                    ``(ii) the average net income after Federal income 
                taxes (excluding any carry-over losses) of the 
                applicant for the 2 full fiscal years before the date 
                of the application is not more than $5,000,000.''.

SEC. 226. SALE OF 7(A) LOANS IN SECONDARY MARKET.

    Section 5(g) of the Small Business Act (15 U.S.C. 634(g)) is 
amended by adding at the end the following:
    ``(6) If the amount of the guaranteed portion of any loan under 
section 7(a) is more than $500,000, the Administrator shall, upon 
request of a pool assembler, divide the loan guarantee into increments 
of $500,000 and 1 increment of any remaining amount less than $500,000, 
in order to permit the maximum amount of any loan in a pool to be not 
more than $500,000. Only 1 increment of any loan guarantee divided 
under this paragraph may be included in the same pool. Increments of 
loan guarantees to different borrowers that are divided under this 
paragraph may be included in the same pool.''.

SEC. 227. ONLINE LENDING PLATFORM.

    It is the sense of Congress that the Administrator of the Small 
Business Administration should establish a website that--
            (1) lists each lender that makes loans guaranteed by the 
        Small Business Administration and provides information about 
        the loan rates of each such lender; and
            (2) allows prospective borrowers to compare rates on loans 
        guaranteed by the Small Business Administration.

              Subtitle B--Small Business Access to Capital

SEC. 228. LOW-INTEREST REFINANCING UNDER THE LOCAL DEVELOPMENT BUSINESS 
              LOAN PROGRAM.

    (a) Refinancing.--Section 502(7) of the Small Business Investment 
Act of 1958 (15 U.S.C. 696(7)) is amended by adding at the end the 
following:
                    ``(C) Refinancing not involving expansions.--
                            ``(i) Definitions.--In this subparagraph--
                                    ``(I) the term `borrower' means a 
                                small business concern that submits an 
                                application to a development company 
                                for financing under this subparagraph;
                                    ``(II) the term `eligible fixed 
                                asset' means tangible property relating 
                                to which the Administrator may provide 
                                financing under this section; and
                                    ``(III) the term `qualified debt' 
                                means indebtedness--
                                            ``(aa) that--

                                                    ``(AA) was incurred 
                                                not less than 2 years 
                                                before the date of the 
                                                application for 
                                                assistance under this 
                                                subparagraph;

                                                    ``(BB) is a 
                                                commercial loan;

                                                    ``(CC) is not 
                                                subject to a guarantee 
                                                by a Federal agency;

                                                    ``(DD) the proceeds 
                                                of which were used to 
                                                acquire an eligible 
                                                fixed asset;

                                                    ``(EE) was incurred 
                                                for the benefit of the 
                                                small business concern; 
                                                and

                                                    ``(FF) is 
                                                collateralized by 
                                                eligible fixed assets; 
                                                and

                                            ``(bb) for which the 
                                        borrower has been current on 
                                        all payments for not less than 
                                        1 year before the date of the 
                                        application.
                            ``(ii) Authority.--A project that does not 
                        involve the expansion of a small business 
                        concern may include the refinancing of 
                        qualified debt if--
                                    ``(I) the amount of the financing 
                                is not more than 80 percent of the 
                                value of the collateral for the 
                                financing, except that, if the 
                                appraised value of the eligible fixed 
                                assets serving as collateral for the 
                                financing is less than the amount equal 
                                to 125 percent of the amount of the 
                                financing, the borrower may provide 
                                additional cash or other collateral to 
                                eliminate any deficiency;
                                    ``(II) the borrower has been in 
                                operation for all of the 2-year period 
                                ending on the date of the loan; and
                                    ``(III) for a financing for which 
                                the Administrator determines there will 
                                be an additional cost attributable to 
                                the refinancing of the qualified debt, 
                                the borrower agrees to pay a fee in an 
                                amount equal to the anticipated 
                                additional cost.
                            ``(iii) Financing for business expenses.--
                                    ``(I) Financing for business 
                                expenses.--The Administrator may 
                                provide financing to a borrower that 
                                receives financing that includes a 
                                refinancing of qualified debt under 
                                clause (ii), in addition to the 
                                refinancing under clause (ii), to be 
                                used solely for the payment of business 
                                expenses.
                                    ``(II) Application for financing.--
                                An application for financing under 
                                subclause (I) shall include--
                                            ``(aa) a specific 
                                        description of the expenses for 
                                        which the additional financing 
                                        is requested; and
                                            ``(bb) an itemization of 
                                        the amount of each expense.
                                    ``(III) Condition on additional 
                                financing.--A borrower may not use any 
                                part of the financing under this clause 
                                for non-business purposes.
                            ``(iv) Loans based on jobs.--
                                    ``(I) Job creation and retention 
                                goals.--
                                            ``(aa) In general.--The 
                                        Administrator may provide 
                                        financing under this 
                                        subparagraph for a borrower 
                                        that meets the job creation 
                                        goals under subsection (d) or 
                                        (e) of section 501.
                                            ``(bb) Alternate job 
                                        retention goal.--The 
                                        Administrator may provide 
                                        financing under this 
                                        subparagraph to a borrower that 
                                        does not meet the goals 
                                        described in item (aa) in an 
                                        amount that is not more than 
                                        the product obtained by 
                                        multiplying the number of 
                                        employees of the borrower by 
                                        $65,000.
                                    ``(II) Number of employees.--For 
                                purposes of subclause (I), the number 
                                of employees of a borrower is equal to 
                                the sum of--
                                            ``(aa) the number of full-
                                        time employees of the borrower 
                                        on the date on which the 
                                        borrower applies for a loan 
                                        under this subparagraph; and
                                            ``(bb) the product obtained 
                                        by multiplying--

                                                    ``(AA) the number 
                                                of part-time employees 
                                                of the borrower on the 
                                                date on which the 
                                                borrower applies for a 
                                                loan under this 
                                                subparagraph; by

                                                    ``(BB) the quotient 
                                                obtained by dividing 
                                                the average number of 
                                                hours each part time 
                                                employee of the 
                                                borrower works each 
                                                week by 40.

                            ``(v) Nondelegation.--Notwithstanding 
                        section 508(e), the Administrator may not 
                        permit a premier certified lender to approve or 
                        disapprove an application for assistance under 
                        this subparagraph.
                            ``(vi) Total amount of loans.--The 
                        Administrator may provide not more than a total 
                        of $4,000,000,000 of financing under this 
                        subparagraph for each fiscal year.''.
    (b) Prospective Repeal.--Effective 2 years after the date of 
enactment of this Act, section 502(7) of the Small Business Investment 
Act of 1958 (15 U.S.C. 696(7)) is amended by striking subparagraph (C).
    (c) Technical Correction.--Section 502(2)(A)(i) of the Small 
Business Investment Act of 1958 (15 U.S.C. 696(2)(A)(i)) is amended by 
striking ``subparagraph (B) or (C)'' and inserting ``clause (ii), 
(iii), (iv), or (v)''.

                  TITLE III--SMALL BUSINESS EXPORTING

SEC. 301. SHORT TITLE.

    This title may be cited as the ``Small Business Export Enhancement 
and International Trade Act of 2010''.

SEC. 302. DEFINITIONS.

    (a) Definitions.--In this title--
            (1) the terms ``Administration'' and ``Administrator'' mean 
        the Small Business Administration and the Administrator 
        thereof, respectively;
            (2) the term ``Associate Administrator'' means the 
        Associate Administrator for International Trade appointed under 
        section 22(a)(2) of the Small Business Act, as amended by this 
        Act;
            (3) the term ``Export Assistance Center'' means a one-stop 
        shop referred to in section 2301(b)(8) of the Omnibus Trade and 
        Competitiveness Act of 1988 (15 U.S.C. 4721(b)(8));
            (4) the term ``rural small business concern'' means a small 
        business concern located in a rural area, as that term is 
        defined in section 1393(a)(2) of the Internal Revenue Code of 
        1986; and
            (5) the term ``small business concern'' has the meaning 
        given that term under section 3 of the Small Business Act (15 
        U.S.C. 632).
    (b) Technical and Conforming Amendments.--
            (1) Definitions.--Section 3 of the Small Business Act (15 
        U.S.C. 632) is amended by adding at the end the following:
    ``(t) Small Business Development Center.--In this Act, the term 
`small business development center' means a small business development 
center described in section 21.
    ``(u) Region of the Administration.--In this Act, the term `region 
of the Administration' means the geographic area served by a regional 
office of the Administration established under section 4(a).''.
            (2) Conforming amendment.--Section 4(b)(3)(B)(x) of the 
        Small Business Act (15 U.S.C. 633(b)(3)(B)(x)) is amended by 
        striking ``Administration district and region'' and inserting 
        ``district and region of the Administration''.

SEC. 303. OFFICE OF INTERNATIONAL TRADE.

    (a) Establishment.--Section 22 of the Small Business Act (15 U.S.C. 
649) is amended--
            (1) by striking ``Sec. 22. (a) There'' and inserting the 
        following:

``SEC. 22. OFFICE OF INTERNATIONAL TRADE.

    ``(a) Establishment.--
            ``(1) Office.--There''; and
            (2) in subsection (a)--
                    (A) in paragraph (1), as so designated, by striking 
                the period and inserting ``for the primary purposes of 
                increasing--
                    ``(A) the number of small business concerns that 
                export; and
                    ``(B) the volume of exports by small business 
                concerns.''; and
                    (B) by adding at the end the following:
            ``(2) Associate administrator.--The head of the Office 
        shall be the Associate Administrator for International Trade, 
        who shall be responsible to the Administrator.''.
    (b) Authority for Additional Associate Administrator.--Section 
4(b)(1) of the Small Business Act (15 U.S.C. 633(b)(1)) is amended--
            (1) in the fifth sentence, by striking ``five Associate 
        Administrators'' and inserting ``Associate Administrators''; 
        and
            (2) by adding at the end the following: ``One such 
        Associate Administrator shall be the Associate Administrator 
        for International Trade, who shall be the head of the Office of 
        International Trade established under section 22.''.
    (c) Discharge of International Trade Responsibilities of 
Administration.--Section 22 of the Small Business Act (15 U.S.C. 649) 
is amended by adding at the end the following:
    ``(h) Discharge of International Trade Responsibilities of 
Administration.--The Administrator shall ensure that--
            ``(1) the responsibilities of the Administration regarding 
        international trade are carried out by the Associate 
        Administrator;
            ``(2) the Associate Administrator has sufficient resources 
        to carry out such responsibilities; and
            ``(3) the Associate Administrator has direct supervision 
        and control over--
                    ``(A) the staff of the Office; and
                    ``(B) any employee of the Administration whose 
                principal duty station is an Export Assistance Center, 
                or any successor entity.''.
    (d) Role of Associate Administrator in Carrying Out International 
Trade Policy.--Section 2(b)(1) of the Small Business Act (15 U.S.C. 
631(b)(1)) is amended in the matter preceding subparagraph (A)--
            (1) by inserting ``the Administrator of'' before ``the 
        Small Business Administration''; and
            (2) by inserting ``through the Associate Administrator for 
        International Trade, and'' before ``in cooperation with''.
    (e) Implementation Date.--Not later than 90 days after the date of 
enactment of this Act, the Administrator of the Small Business 
Administration shall appoint an Associate Administrator for 
International Trade under section 22(a) of the Small Business Act (15 
U.S.C. 649(a)), as added by this section.

SEC. 304. DUTIES OF THE OFFICE OF INTERNATIONAL TRADE.

    (a) Amendments to Section 22.--Section 22 of the Small Business Act 
(15 U.S.C. 649) is amended--
            (1) by striking subsection (b) and inserting the following:
    ``(b) Trade Distribution Network.--The Associate Administrator, 
working in close cooperation with the Secretary of Commerce, the United 
States Trade Representative, the Export-Import Bank of the United 
States, the Overseas Private Investment Corporation, and other relevant 
Federal agencies, small business development centers engaged in export 
promotion efforts, Export Assistance Centers, regional and district 
offices of the Administration, the small business community, and 
relevant State and local export promotion programs, shall--
            ``(1) maintain a distribution network, using regional and 
        district offices of the Administration, the small business 
        development center network, networks of women's business 
        centers, the Service Corps of Retired Executives authorized by 
        section 8(b)(1), and Export Assistance Centers, for programs 
        relating to--
                    ``(A) trade promotion;
                    ``(B) trade finance;
                    ``(C) trade adjustment assistance;
                    ``(D) trade remedy assistance; and
                    ``(E) trade data collection;
            ``(2) aggressively market the programs described in 
        paragraph (1) and disseminate information, including 
        computerized marketing data, to small business concerns on 
        exporting trends, market-specific growth, industry trends, and 
        international prospects for exports;
            ``(3) promote export assistance programs through the 
        district and regional offices of the Administration, the small 
        business development center network, Export Assistance Centers, 
        the network of women's business centers, chapters of the 
        Service Corps of Retired Executives, State and local export 
        promotion programs, and partners in the private sector; and
            ``(4) give preference in hiring or approving the transfer 
        of any employee into the Office or to a position described in 
        subsection (c)(9) to otherwise qualified applicants who are 
        fluent in a language in addition to English, to--
                    ``(A) accompany small business concerns on foreign 
                trade missions; and
                    ``(B) translate documents, interpret conversations, 
                and facilitate multilingual transactions, including by 
                providing referral lists for translation services, if 
                required.'';
            (2) in subsection (c)--
                    (A) by striking ``(c) The Office'' and inserting 
                the following:
    ``(c) Promotion of Sales Opportunities.--The Associate 
Administrator'';
                    (B) by redesignating paragraphs (1) through (8) as 
                paragraphs (2) through (9), respectively;
                    (C) by inserting before paragraph (2), as so 
                redesignated, the following:
            ``(1) establish annual goals for the Office relating to--
                    ``(A) enhancing the exporting capability of small 
                business concerns and small manufacturers;
                    ``(B) facilitating technology transfers;
                    ``(C) enhancing programs and services to assist 
                small business concerns and small manufacturers to 
                compete effectively and efficiently against foreign 
                entities;
                    ``(D) increasing the ability of small business 
                concerns to access capital;
                    ``(E) disseminating information concerning Federal, 
                State, and private programs and initiatives; and
                    ``(F) ensuring that the interests of small business 
                concerns are adequately represented in trade 
                negotiations;'';
                    (D) in paragraph (2), as so redesignated, by 
                striking ``mechanism for'' and all that follows through 
                ``(D) assisting'' and inserting the following: 
                ``mechanism for--
                    ``(A) identifying subsectors of the small business 
                community with strong export potential;
                    ``(B) identifying areas of demand in foreign 
                markets;
                    ``(C) prescreening foreign buyers for commercial 
                and credit purposes; and
                    ``(D) assisting'';
                    (E) in paragraph (3), as so redesignated, by 
                striking ``assist small businesses in the formation and 
                utilization of'' and inserting ``assist small business 
                concerns in forming and using'';
                    (F) in paragraph (4), as so redesignated--
                            (i) by striking ``local'' and inserting 
                        ``district'';
                            (ii) by striking ``existing'';
                            (iii) by striking ``Small Business 
                        Development Center network'' and inserting 
                        ``small business development center network''; 
                        and
                            (iv) by striking ``Small Business 
                        Development Center Program'' and inserting 
                        ``small business development center program'';
                    (G) in paragraph (5), as so redesignated--
                            (i) in subparagraph (A), by striking 
                        ``Gross State Produce'' and inserting ``Gross 
                        State Product'';
                            (ii) in subparagraph (B), by striking 
                        ``SIC'' each place it appears and inserting 
                        ``North American Industry Classification 
                        System''; and
                            (iii) in subparagraph (C), by striking 
                        ``small businesses'' and inserting ``small 
                        business concerns'';
                    (H) in paragraph (6), as so redesignated, by 
                striking the period at the end and inserting a 
                semicolon;
                    (I) in paragraph (7), as so redesignated--
                            (i) in the matter preceding subparagraph 
                        (A)--
                                    (I) by inserting ``concerns'' after 
                                ``small business''; and
                                    (II) by striking ``current'' and 
                                inserting ``up to date'';
                            (ii) in subparagraph (A), by striking 
                        ``Administration's regional offices'' and 
                        inserting ``regional and district offices of 
                        the Administration'';
                            (iii) in subparagraph (B) by striking 
                        ``current'';
                            (iv) in subparagraph (C), by striking 
                        ``current''; and
                            (v) by striking ``small businesses'' each 
                        place that term appears and inserting ``small 
                        business concerns'';
                    (J) in paragraph (8), as so redesignated, by 
                striking and at the end;
                    (K) in paragraph (9), as so redesignated--
                            (i) in the matter preceding subparagraph 
                        (A)--
                                    (I) by striking ``full-time export 
                                development specialists to each 
                                Administration regional office and 
                                assigning''; and
                                    (II) by striking ``person in each 
                                district office. Such specialists'' and 
                                inserting ``individual in each district 
                                office and providing each 
                                Administration regional office with a 
                                full-time export development 
                                specialist, who'';
                            (ii) in subparagraph (B)--
                                    (I) by striking ``current''; and
                                    (II) by striking ``with'' and 
                                inserting ``in'';
                            (iii) in subparagraph (D)--
                                    (I) by striking ``Administration 
                                personnel involved in granting'' and 
                                inserting ``personnel of the 
                                Administration involved in making''; 
                                and
                                    (II) by striking ``and'' at the 
                                end;
                            (iv) in subparagraph (E)--
                                    (I) by striking ``small businesses' 
                                needs'' and inserting ``the needs of 
                                small business concerns''; and
                                    (II) by striking the period at the 
                                end and inserting a semicolon;
                            (v) by adding at the end the following:
                    ``(F) participate, jointly with employees of the 
                Office, in an annual training program that focuses on 
                current small business needs for exporting; and
                    ``(G) develop and conduct training programs for 
                exporters and lenders, in cooperation with the Export 
                Assistance Centers, the Department of Commerce, small 
                business development centers, women's business centers, 
                the Export-Import Bank of the United States, the 
                Overseas Private Investment Corporation, and other 
                relevant Federal agencies;''; and
                            (vi) by striking ``small businesses'' each 
                        place that term appears and inserting ``small 
                        business concerns''; and
                    (L) by adding at the end the following:
            ``(10) make available on the website of the Administration 
        the name and contact information of each individual described 
        in paragraph (9);
            ``(11) carry out a nationwide marketing effort using 
        technology, online resources, training, and other strategies to 
        promote exporting as a business development opportunity for 
        small business concerns;
            ``(12) disseminate information to the small business 
        community through regional and district offices of the 
        Administration, the small business development center network, 
        Export Assistance Centers, the network of women's business 
        centers, chapters of the Service Corps of Retired Executives 
        authorized by section 8(b)(1), State and local export promotion 
        programs, and partners in the private sector regarding 
        exporting trends, market-specific growth, industry trends, and 
        prospects for exporting; and
            ``(13) establish and carry out training programs for the 
        staff of the regional and district offices of the 
        Administration and resource partners of the Administration on 
        export promotion and providing assistance relating to 
        exports.'';
            (3) in subsection (d)--
                    (A) by redesignating paragraphs (1) through (5) as 
                clauses (i) through (v), respectively, and adjusting 
                the margins accordingly;
                    (B) by striking ``(d) The Office'' and inserting 
                the following:
    ``(d) Export Financing Programs.--
            ``(1) In general.--The Associate Administrator''; and
                    (C) by striking ``To accomplish this goal, the 
                Office shall work'' and inserting the following:
            ``(2) Trade finance specialist.--To accomplish the goal 
        established under paragraph (1), the Associate Administrator 
        shall--
                    ``(A) designate at least 1 individual within the 
                Administration as a trade finance specialist to oversee 
                international loan programs and assist Administration 
                employees with trade finance issues; and
                    ``(B) work'';
            (4) in subsection (e), by striking ``(e) The Office'' and 
        inserting the following:
    ``(e) Trade Remedies.--The Associate Administrator'';
            (5) by amending subsection (f) to read as follows:
    ``(f) Reporting Requirement.--The Associate Administrator shall 
submit an annual report to the Committee on Small Business and 
Entrepreneurship of the Senate and the Committee on Small Business of 
the House of Representatives that contains--
            ``(1) a description of the progress of the Office in 
        implementing the requirements of this section;
            ``(2) a detailed account of the results of export growth 
        activities of the Administration, including the activities of 
        each district and regional office of the Administration, based 
        on the performance measures described in subsection (i);
            ``(3) an estimate of the total number of jobs created or 
        retained as a result of export assistance provided by the 
        Administration and resource partners of the Administration;
            ``(4) for any travel by the staff of the Office, the 
        destination of such travel and the benefits to the 
        Administration and to small business concerns resulting from 
        such travel; and
            ``(5) a description of the participation by the Office in 
        trade negotiations.'';
            (6) in subsection (g), by striking ``(g) The Office'' and 
        inserting the following:
    ``(g) Studies.--The Associate Administrator''; and
            (7) by adding after subsection (h), as added by section 303 
        of this Act, the following:
    ``(i) Export and Trade Counseling.--
            ``(1) Definition.--In this subsection--
                    ``(A) the term `lead small business development 
                center' means a small business development center that 
                has received a grant from the Administration; and
                    ``(B) the term `lead women's business center' means 
                a women's business center that has received a grant 
                from the Administration.
            ``(2) Certification program.--The Administrator shall 
        establish an export and trade counseling certification program 
        to certify employees of lead small business development centers 
        and lead women's business centers in providing export 
        assistance to small business concerns.
            ``(3) Number of certified employees.--The Administrator 
        shall ensure that the number of employees of each lead small 
        business development center who are certified in providing 
        export assistance is not less than the lesser of--
                    ``(A) 5; or
                    ``(B) 10 percent of the total number of employees 
                of the lead small business development center.
            ``(4) Reimbursement for certification.--
                    ``(A) In general.--Subject to the availability of 
                appropriations, the Administrator shall reimburse a 
                lead small business development center or a lead 
                women's business center for costs relating to the 
                certification of an employee of the lead small business 
                center or lead women's business center in providing 
                export assistance under the program established under 
                paragraph (2).
                    ``(B) Limitation.--The total amount reimbursed by 
                the Administrator under subparagraph (A) may not exceed 
                $350,000 in any fiscal year.
    ``(j) Performance Measures.--
            ``(1) In general.--The Associate Administrator shall 
        develop performance measures for the Administration to support 
        export growth goals for the activities of the Office under this 
        section that include--
                    ``(A) the number of small business concerns that--
                            ``(i) receive assistance from the 
                        Administration;
                            ``(ii) had not exported goods or services 
                        before receiving the assistance described in 
                        clause (i); and
                            ``(iii) export goods or services;
                    ``(B) the number of small business concerns 
                receiving assistance from the Administration that 
                export goods or services to a market outside the United 
                States into which the small business concern did not 
                export before receiving the assistance;
                    ``(C) export revenues by small business concerns 
                assisted by programs of the Administration;
                    ``(D) the number of small business concerns 
                referred to an Export Assistance Center or a small 
                business development center by the staff of the Office;
                    ``(E) the number of small business concerns 
                referred to the Administration by an Export Assistance 
                Center or a small business development center; and
                    ``(F) the number of small business concerns 
                referred to the Export-Import Bank of the United States 
                or to the Overseas Private Investment Corporation by 
                the staff of the Office, an Export Assistance Center, 
                or a small business development center.
            ``(2) Joint performance measures.--The Associate 
        Administrator shall develop joint performance measures for the 
        district offices of the Administration and the Export 
        Assistance Centers that include the number of export loans made 
        under--
                    ``(A) section 7(a)(16);
                    ``(B) the Export Working Capital Program 
                established under section 7(a)(14);
                    ``(C) the Preferred Lenders Program, as defined in 
                section 7(a)(2)(C)(ii); and
                    ``(D) the export express program established under 
                section 7(a)(34).
            ``(3) Consistency of tracking.--The Associate 
        Administrator, in coordination with the departments and 
        agencies that are represented on the Trade Promotion 
        Coordinating Committee established under section 2312 of the 
        Export Enhancement Act of 1988 (15 U.S.C. 4727) and the small 
        business development center network, shall develop a system to 
        track exports by small business concerns, including information 
        relating to the performance measures developed under paragraph 
        (1), that is consistent with systems used by the departments 
        and agencies and the network.''.
    (b) Trade Disputes.--The Administrator shall carry out a 
comprehensive program to provide technical assistance, counseling, and 
reference materials to small business concerns relating to resources, 
procedures, and requirements for mechanisms to resolve international 
trade disputes or address unfair international trade practices under 
international trade agreements or Federal law, including--
            (1) directing the district offices of the Administration to 
        provide referrals, information, and other services to small 
        business concerns relating to the mechanisms;
            (2) entering agreements and partnerships with providers of 
        legal services relating to the mechanisms, to ensure small 
        business concerns may affordably use the mechanisms; and
            (3) in consultation with the Director of the United States 
        Patent and Trademark Office and the Register of Copyrights, 
        designing counseling services and materials for small business 
        concerns regarding intellectual property protection in other 
        countries.
    (c) Report.--Not later than 60 days after the date of enactment of 
this Act, the Administrator shall submit a report to the Committee on 
Small Business and Entrepreneurship of the Senate and the Committee on 
Small Business of the House of Representatives on any travel by the 
staff of the Office of International Trade of the Administration, 
during the period beginning on October 1, 2004, and ending on the date 
of enactment of the Act, including the destination of such travel and 
the benefits to the Administration and to small business concerns 
resulting from such travel.

SEC. 305. EXPORT ASSISTANCE CENTERS.

    (a) Export Assistance Centers.--Section 22 of the Small Business 
Act (15 U.S.C. 649), as amended by section 304 of this Act, is amended 
by adding at the end the following:
    ``(k) Export Assistance Centers.--
            ``(1) Export finance specialists.--
                    ``(A) Minimum number of export finance 
                specialists.--On and after January 1, 2010, the 
                Administrator, in coordination with the Secretary of 
                Commerce, shall ensure that the number of export 
                finance specialists is not less than the number of such 
                employees so assigned on January 1, 2003.
                    ``(B) Export finance specialists assigned to each 
                region of the administration.--On and after the date 
                that is 2 years after the date of enactment of this 
                subsection, the Administrator, in coordination with the 
                Secretary of Commerce, shall ensure that there are not 
                fewer than 3 export finance specialists in each region 
                of the Administration.
            ``(2) Placement of export finance specialists.--
                    ``(A) Priority.--The Administrator shall give 
                priority, to the maximum extent practicable, to placing 
                employees of the Administration at any Export 
                Assistance Center that--
                            ``(i) had an Administration employee 
                        assigned to the Export Assistance Center before 
                        January 2003; and
                            ``(ii) has not had an Administration 
                        employee assigned to the Export Assistance 
                        Center during the period beginning January 
                        2003, and ending on the date of enactment of 
                        this subsection, either through retirement or 
                        reassignment.
                    ``(B) Needs of exporters.--The Administrator shall, 
                to the maximum extent practicable, strategically assign 
                Administration employees to Export Assistance Centers, 
                based on the needs of exporters.
                    ``(C) Rule of construction.--Nothing in this 
                subsection may be construed to require the 
                Administrator to reassign or remove an export finance 
                specialist who is assigned to an Export Assistance 
                Center on the date of enactment of this subsection.
            ``(3) Goals.--The Associate Administrator shall work with 
        the Department of Commerce, the Export-Import Bank of the 
        United States, and the Overseas Private Investment Corporation 
        to establish shared annual goals for the Export Assistance 
        Centers.
            ``(4) Oversight.--The Associate Administrator shall 
        designate an individual within the Administration to oversee 
        all activities conducted by Administration employees assigned 
        to Export Assistance Centers.
    ``(l) Definitions.--In this section--
            ``(1) the term `Associate Administrator' means the 
        Associate Administrator for International Trade described in 
        subsection (a)(2);
            ``(2) the term `Export Assistance Center' means a one-stop 
        shop for United States exporters established by the United 
        States and Foreign Commercial Service of the Department of 
        Commerce pursuant to section 2301(b)(8) of the Omnibus Trade 
        and Competitiveness Act of 1988 (15 U.S.C. 4721(b)(8));
            ``(3) the term `export finance specialist' means a full-
        time equivalent employee of the Office assigned to an Export 
        Assistance Center to carry out the duties described in 
        subsection (e); and
            ``(4) the term `Office' means the Office of International 
        Trade established under subsection (a)(1).''.
    (b) Study and Report on Filling Gaps in High- and Low-Export Volume 
Areas.--
            (1) Study and report.--Not later than 6 months after the 
        date of enactment of this Act, and every 2 years thereafter, 
        the Administrator shall--
                    (A) conduct a study of--
                            (i) the volume of exports for each State;
                            (ii) the availability of export finance 
                        specialists in each State;
                            (iii) the number of exporters in each State 
                        that are small business concerns;
                            (iv) the percentage of exporters in each 
                        State that are small business concerns;
                            (v) the change, if any, in the number of 
                        exporters that are small business concerns in 
                        each State--
                                    (I) for the first study conducted 
                                under this subparagraph, during the 10-
                                year period ending on the date of 
                                enactment of this Act; and
                                    (II) for each subsequent study, 
                                during the 10-year period ending on the 
                                date the study is commenced;
                            (vi) the total value of the exports in each 
                        State by small business concerns;
                            (vii) the percentage of the total volume of 
                        exports in each State that is attributable to 
                        small business concerns; and
                            (viii) the change, if any, in the 
                        percentage of the total volume of exports in 
                        each State that is attributable to small 
                        business concerns--
                                    (I) for the first study conducted 
                                under this subparagraph, during the 10-
                                year period ending on the date of 
                                enactment of this Act; and
                                    (II) for each subsequent study, 
                                during the 10-year period ending on the 
                                date the study is commenced; and
                    (B) 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 
                containing--
                            (i) the results of the study under 
                        subparagraph (A);
                            (ii) to the extent practicable, a 
                        recommendation regarding how to eliminate gaps 
                        between the supply of and demand for export 
                        finance specialists in the 15 States that have 
                        the greatest volume of exports, based upon the 
                        most recent data available from the Department 
                        of Commerce;
                            (iii) to the extent practicable, a 
                        recommendation regarding how to eliminate gaps 
                        between the supply of and demand for export 
                        finance specialists in the 15 States that have 
                        the lowest volume of exports, based upon the 
                        most recent data available from the Department 
                        of Commerce; and
                            (iv) such additional information as the 
                        Administrator determines is appropriate.
            (2) Definition.--In this subsection, the term ``export 
        finance specialist'' has the meaning given that term in section 
        22(l) of the Small Business Act, as added by this Act.

SEC. 306. INTERNATIONAL TRADE FINANCE PROGRAMS.

    (a) Loan Limits.--
            (1) Total amount outstanding.--Section 7(a)(3)(B) of the 
        Small Business Act (15 U.S.C. 636(a)(3)(B)) is amended by 
        striking ``$1,750,000, of which not more than $1,250,000'' and 
        inserting ``$4,500,000 (or if the gross loan amount would 
        exceed $5,000,000), of which not more than $4,000,000''.
            (2) Participation.--Section 7(a)(2) of the Small Business 
        Act (15 U.S.C. 636(a)(2)) is amended--
                    (A) in subparagraph (A), in the matter preceding 
                clause (i), by striking ``subparagraph (B)'' and 
                inserting ``subparagraphs (B), (D), and (E)'';
                    (B) in subparagraph (D), by striking 
                ``Notwithstanding subparagraph (A), in'' and inserting 
                ``In''; and
                    (C) by adding at the end the following:
                    ``(E) Participation in international trade loan.--
                In an agreement to participate in a loan on a deferred 
                basis under paragraph (16), the participation by the 
                Administration may not exceed 90 percent.''.
    (b) Working Capital.--Section 7(a)(16)(A) of the Small Business Act 
(15 U.S.C. 636(a)(16)(A)) is amended--
            (1) in the matter preceding clause (i), by striking ``in--
        '' and inserting ``--'';
            (2) in clause (i)--
                    (A) by inserting ``in'' after ``(i)''; and
                    (B) by striking ``or'' at the end;
            (3) in clause (ii)--
                    (A) by inserting ``in'' after ``(ii)''; and
                    (B) by striking the period at the end and inserting 
                ``, including any debt that qualifies for refinancing 
                under any other provision of this subsection; or''; and
            (4) by adding at the end the following:
                            ``(iii) by providing working capital.''.
    (c) Collateral.--Section 7(a)(16)(B) of the Small Business Act (15 
U.S.C. 636(a)(16)(B)) is amended--
            (1) by striking ``Each loan'' and inserting the following:
                            ``(i) In general.--Except as provided in 
                        clause (ii), each loan''; and
            (2) by adding at the end the following:
                            ``(ii) Exception.--A loan under this 
                        paragraph may be secured by a second lien 
                        position on the property or equipment financed 
                        by the loan or on other assets of the small 
                        business concern, if the Administrator 
                        determines the lien provides adequate assurance 
                        of the payment of the loan.''.
    (d) Export Working Capital Program.--Section 7(a) of the Small 
Business Act (15 U.S.C. 636(a)) is amended--
            (1) in paragraph (2)(D), by striking ``not exceed'' and 
        inserting ``be''; and
            (2) in paragraph (14)--
                    (A) by striking ``(A) The Administration'' and 
                inserting the following: ``Export working capital 
                program.--
                    ``(A) In general.--The Administrator'';
                    (B) by striking ``(B) When considering'' and 
                inserting the following:
                    ``(C) Considerations.--When considering'';
                    (C) by striking ``(C) The Administration'' and 
                inserting the following:
                    ``(D) Marketing.--The Administrator''; and
                    (D) by inserting after subparagraph (A) the 
                following:
                    ``(B) Terms.--
                            ``(i) Loan amount.--The Administrator may 
                        not guarantee a loan under this paragraph of 
                        more than $5,000,000.
                            ``(ii) Fees.--
                                    ``(I) In general.--For a loan under 
                                this paragraph, the Administrator shall 
                                collect the fee assessed under 
                                paragraph (23) not more frequently than 
                                once each year.
                                    ``(II) Untapped credit.--The 
                                Administrator may not assess a fee on 
                                capital that is not accessed by the 
                                small business concern.''.
    (e) Participation in Preferred Lenders Program.--Section 7(a)(2)(C) 
of the Small Business Act (15 U.S.C. 636(a)(2)(C)) is amended--
            (1) by redesignating clause (ii) as clause (iii); and
            (2) by inserting after clause (i) the following:
                            ``(ii) Export-import bank lenders.--Any 
                        lender that is participating in the Delegated 
                        Authority Lender Program of the Export-Import 
                        Bank of the United States (or any successor to 
                        the Program) shall be eligible to participate 
                        in the Preferred Lenders Program.''.
    (f) Export Express Program.--Section 7(a) of the Small Business Act 
(15 U.S.C. 636(a)) is amended--
            (1) by striking ``(32) Increased veteran'' and inserting 
        ``(33) Increased veteran''; and
            (2) by adding at the end the following:
            ``(34) Export express program.--
                    ``(A) Definitions.--In this paragraph--
                            ``(i) the term `export development 
                        activity' includes--
                                    ``(I) obtaining a standby letter of 
                                credit when required as a bid bond, 
                                performance bond, or advance payment 
                                guarantee;
                                    ``(II) participation in a trade 
                                show that takes place outside the 
                                United States;
                                    ``(III) translation of product 
                                brochures or catalogues for use in 
                                markets outside the United States;
                                    ``(IV) obtaining a general line of 
                                credit for export purposes;
                                    ``(V) performing a service contract 
                                from buyers located outside the United 
                                States;
                                    ``(VI) obtaining transaction-
                                specific financing associated with 
                                completing export orders;
                                    ``(VII) purchasing real estate or 
                                equipment to be used in the production 
                                of goods or services for export;
                                    ``(VIII) providing term loans or 
                                other financing to enable a small 
                                business concern, including an export 
                                trading company and an export 
                                management company, to develop a market 
                                outside the United States; and
                                    ``(IX) acquiring, constructing, 
                                renovating, modernizing, improving, or 
                                expanding a production facility or 
                                equipment to be used in the United 
                                States in the production of goods or 
                                services for export; and
                            ``(ii) the term `express loan' means a loan 
                        in which a lender uses to the maximum extent 
                        practicable the loan analyses, procedures, and 
                        documentation of the lender to provide 
                        expedited processing of the loan application.
                    ``(B) Authority.--The Administrator may guarantee 
                the timely payment of an express loan to a small 
                business concern made for an export development 
                activity.
                    ``(C) Level of participation.--
                            ``(i) Maximum amount.--The maximum amount 
                        of an express loan guaranteed under this 
                        paragraph shall be $500,000.
                            ``(ii) Percentage.--For an express loan 
                        guaranteed under this paragraph, the 
                        Administrator shall guarantee--
                                    ``(I) 90 percent of a loan that is 
                                not more than $350,000; and
                                    ``(II) 75 percent of a loan that is 
                                more than $350,000 and not more than 
                                $500,000.''.
    (g) Annual Listing of Export Finance Lenders.--Section 7(a)(16) of 
the Small Business Act (15 U.S.C. 636(a)(16)) is amended by adding at 
the end the following:
                    ``(F) List of export finance lenders.--
                            ``(i) Publication of list required.--The 
                        Administrator shall publish an annual list of 
                        the banks and participating lending 
                        institutions that, during the 1-year period 
                        ending on the date of publication of the list, 
                        have made loans guaranteed by the 
                        Administration under--
                                    ``(I) this paragraph;
                                    ``(II) paragraph (14); or
                                    ``(III) paragraph (34).
                            ``(ii) Availability of list.--The 
                        Administrator shall--
                                    ``(I) post the list published under 
                                clause (i) on the website of the 
                                Administration; and
                                    ``(II) make the list published 
                                under clause (i) available, upon 
                                request, at each district office of the 
                                Administration.''.
    (h) Applicability.--The amendments made by subsections (a) through 
(f) shall apply with respect to any loan made after the date of 
enactment of this Act.

SEC. 307. STATE TRADE AND EXPORT PROMOTION GRANT PROGRAM.

    (a) Definitions.--In this section--
            (1) the term ``eligible small business concern'' means a 
        small business concern that--
                    (A) has been in business for not less than the 1-
                year period ending on the date on which assistance is 
                provided using a grant under this section;
                    (B) is operating profitably, based on operations in 
                the United States;
                    (C) has demonstrated understanding of the costs 
                associated with exporting and doing business with 
                foreign purchasers, including the costs of freight 
                forwarding, customs brokers, packing and shipping, as 
                determined by the Associate Administrator;
                    (D) has in effect a strategic plan for exporting; 
                and
                    (E) agrees to provide to the Associate 
                Administrator such information and documentation as is 
                necessary for the Associate Administrator to determine 
                that the small business concern is in compliance with 
                the internal revenue laws of the United States;
            (2) the term ``program'' means the State Trade and Export 
        Promotion Grant Program established under subsection (b);
            (3) the term ``small business concern owned and controlled 
        by women'' has the meaning given that term in section 3 of the 
        Small Business Act (15 U.S.C. 632);
            (4) the term ``socially and economically disadvantaged 
        small business concern'' has the meaning given that term in 
        section 8(a)(4)(A) of the Small Business Act (15 U.S.C. 
        6537(a)(4)(A)); and
            (5) the term ``State'' means each of the several States, 
        the District of Columbia, the Commonwealth of Puerto Rico, the 
        Virgin Islands, Guam, and American Samoa.
    (b) Establishment of Program.--The Associate Administrator shall 
establish a 3-year trade and export promotion pilot program to be known 
as the State Trade and Export Promotion Grant Program, to make grants 
to States to carry out export programs that assist eligible small 
business concerns in--
            (1) participation in a foreign trade mission;
            (2) a foreign market sales trip;
            (3) a subscription to services provided by the Department 
        of Commerce;
            (4) the payment of website translation fees;
            (5) the design of international marketing media;
            (6) a trade show exhibition;
            (7) participation in training workshops; or
            (8) any other export initiative determined appropriate by 
        the Associate Administrator.
    (c) Grants.--
            (1) Joint review.--In carrying out the program, the 
        Associate Administrator may make a grant to a State to increase 
        the number of eligible small business concerns in the State 
        that export or to increase the value of the exports by eligible 
        small business concerns in the State.
            (2) Considerations.--In making grants under this section, 
        the Associate Administrator may give priority to an application 
        by a State that proposes a program that--
                    (A) focuses on eligible small business concerns as 
                part of an export promotion program;
                    (B) demonstrates success in promoting exports by--
                            (i) socially and economically disadvantaged 
                        small business concerns;
                            (ii) small business concerns owned or 
                        controlled by women; and
                            (iii) rural small business concerns;
                    (C) promotes exports from a State that is not 1 of 
                the 10 States with the highest percentage of exporters 
                that are small business concerns, based upon the latest 
                data available from the Department of Commerce; and
                    (D) promotes new-to-market export opportunities to 
                the People's Republic of China for eligible small 
                business concerns in the United States.
            (3) Limitations.--
                    (A) Single application.--A State may not submit 
                more than 1 application for a grant under the program 
                in any 1 fiscal year.
                    (B) Proportion of amounts.--The total value of 
                grants under the program made during a fiscal year to 
                the 10 States with the highest percentage of exporters 
                that are small business concerns, based upon the latest 
                data available from the Department of Commerce, shall 
                be not more than 50 percent of the amounts appropriated 
                for the program for that fiscal year.
            (4) Application.--A State desiring a grant under the 
        program shall submit an application at such time, in such 
        manner, and accompanied by such information as the Associate 
        Administrator may establish.
    (d) Competitive Basis.--The Associate Administrator shall award 
grants under the program on a competitive basis.
    (e) Federal Share.--The Federal share of the cost of an export 
program carried out using a grant under the program shall be--
            (1) for a State that has a high export volume, as 
        determined by the Associate Administrator, not more than 65 
        percent; and
            (2) for a State that does not have a high export volume, as 
        determined by the Associate Administrator, not more than 75 
        percent.
    (f) Reports.--
            (1) Initial report.--Not later than 120 days after the date 
        of enactment of this Act, the Associate 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, which shall include--
                    (A) a description of the structure of and 
                procedures for the program;
                    (B) a management plan for the program; and
                    (C) a description of the merit-based review process 
                to be used in the program.
            (2) Annual reports.--The Associate Administrator shall 
        submit an annual 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 program, 
        which shall include--
                    (A) the number and amount of grants made under the 
                program during the preceding year;
                    (B) a list of the States receiving a grant under 
                the program during the preceding year, including the 
                activities being performed with grant; and
                    (C) the effect of each grant on exports by eligible 
                small business concerns in the State receiving the 
                grant.
    (g) Reviews by Inspector General.--
            (1) In general.--The Inspector General of the 
        Administration shall conduct a review of--
                    (A) the extent to which recipients of grants under 
                the program are measuring the performance of the 
                activities being conducted and the results of the 
                measurements; and
                    (B) the overall management and effectiveness of the 
                program.
            (2) Report.--Not later than September 30, 2012, the 
        Inspector General of the Administration 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 the review conducted under 
        paragraph (1).
    (h) Authorization of Appropriations.--There is authorized to be 
appropriated to carry out the program $15,000,000 for each of fiscal 
years 2010, 2011, and 2012.
    (i) Termination.--The authority to carry out the program shall 
terminate 3 years after the date on which the Associate Administrator 
establishes the program.

SEC. 308. RURAL EXPORT PROMOTION.

    Not later than 6 months after the date of enactment of this Act, 
the Administrator, in consultation with the Secretary of Agriculture 
and the Secretary of Commerce, 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 that contains--
            (1) a description of each program of the Administration 
        that promotes exports by rural small business concerns, 
        including--
                    (A) the number of rural small business concerns 
                served by the program;
                    (B) the change, if any, in the number of rural 
                small business concerns as a result of participation in 
                the program during the 10-year period ending on the 
                date of enactment of this Act;
                    (C) the volume of exports by rural small business 
                concerns that participate in the program; and
                    (D) the change, if any, in the volume of exports by 
                rural small businesses that participate in the program 
                during the 10-year period ending on the date of 
                enactment of this Act;
            (2) a description of the coordination between programs of 
        the Administration and other Federal programs that promote 
        exports by rural small business concerns;
            (3) recommendations, if any, for improving the coordination 
        described in paragraph (2);
            (4) a description of any plan by the Administration to 
        market the international trade financing programs of the 
        Administration through lenders that--
                    (A) serve rural small business concerns; and
                    (B) are associated with financing programs of the 
                Department of Agriculture;
            (5) recommendations, if any, for improving coordination 
        between the counseling programs and export financing programs 
        of the Administration, in order to increase the volume of 
        exports by rural small business concerns; and
            (6) any additional information the Administrator determines 
        is necessary.

SEC. 309. INTERNATIONAL TRADE COOPERATION BY SMALL BUSINESS DEVELOPMENT 
              CENTERS.

    Section 21(a) of the Small Business Act (15 U.S.C. 648(a)) is 
amended--
            (1) by striking ``(2) The Small Business Development 
        Centers'' and inserting the following:
            ``(2) Cooperation to provide international trade 
        services.--
                    ``(A) Information and services.--The small business 
                development centers''; and
            (2) in paragraph (2)--
                    (A) in subparagraph (A), as so designated, by 
                inserting ``(including State trade agencies),'' after 
                ``local agencies''; and
                    (B) by adding at the end the following:
                    ``(B) Cooperation with state trade agencies and 
                export assistance centers.--A small business 
                development center that counsels a small business 
                concern on issues relating to international trade 
                shall--
                            ``(i) consult with State trade agencies and 
                        Export Assistance Centers to provide 
                        appropriate services to the small business 
                        concern; and
                            ``(ii) as necessary, refer the small 
                        business concern to a State trade agency or an 
                        Export Assistance Center for further counseling 
                        or assistance.
                    ``(C) Definition.--In this paragraph, the term 
                `Export Assistance Center' has the same meaning as in 
                section 22.''.

               TITLE IV--SMALL BUSINESS REGULATORY REFORM

SEC. 401. SHORT TITLE.

    This title may be cited as the ``Job Impact Analysis Act of 2010''.

SEC. 402. FINDINGS.

    Congress finds the following:
            (1) A vibrant and growing small business sector is critical 
        to the recovery of the economy of the United States.
            (2) Regulations designed for application to large-scale 
        entities have been applied uniformly to small businesses and 
        other small entities, sometimes inhibiting the ability of small 
        entities to create new jobs.
            (3) Uniform Federal regulatory and reporting requirements 
        in many instances have imposed on small businesses and other 
        small entities unnecessary and disproportionately burdensome 
        demands, including legal, accounting, and consulting costs, 
        thereby threatening the viability of small entities and the 
        ability of small entities to compete and create new jobs in a 
        global marketplace.
            (4) Since 1980, Federal agencies have been required to 
        recognize and take account of the differences in the scale and 
        resources of regulated entities, but in many instances have 
        failed to do so.
            (5) In 2009, there were nearly 70,000 pages in the Federal 
        Register, and, according to research by the Office of Advocacy 
        of the Small Business Administration, the annual cost of 
        Federal regulations totals $1,100,000,000,000. Small firms bear 
        a disproportionate burden, paying approximately 45 percent, or 
        $7,647, more per employee than larger firms in annual 
        regulatory compliance costs.
            (6) The Federal Government should fully consider the costs, 
        including indirect economic impacts and the potential for job 
        creation and job loss, of proposed rules.
            (7) It is the intention of Congress to amend chapter 6 of 
        title 5, United States Code, to ensure that all impacts, 
        including foreseeable indirect effects, of proposed and final 
        rules are considered by agencies during the rulemaking process 
        and that the agencies assess a full range of alternatives that 
        will limit adverse economic consequences, enhance economic 
        benefits, and fully address potential job creation or job loss.
            (8) To the maximum extent practicable, the Director of the 
        Congressional Budget Office should, in certain estimates the 
        Director prepares with respect to bills or joint resolutions 
        reported by congressional committees, estimate the potential 
        job creation or job loss attributable to the bills or joint 
        resolutions.

SEC. 403. JOB IMPACT STATEMENT FOR REPORTED BILLS AND JOINT 
              RESOLUTIONS.

    Section 424 of the Congressional Budget and Impoundment Control Act 
of 1974 (2 U.S.C. 658c) is amended--
            (1) in subsection (a)(2)--
                    (A) in subparagraph (B), by striking ``and'' at the 
                end;
                    (B) in subparagraph (C), by striking the period at 
                the end and inserting ``; and''; and
                    (C) by adding at the end the following:
                    ``(D) if the Director estimates that the total 
                amount of direct costs of all Federal intergovernmental 
                mandates in the bill or joint resolution will equal or 
                exceed $5,000,000,000 (adjusted annually for 
                inflation), to the extent practicable, the potential 
                job creation or job loss in State, local, and tribal 
                governments as a result of the mandates.''; and
            (2) in subsection (b)(2)--
                    (A) in subparagraph (A), by striking ``and'' at the 
                end;
                    (B) in subparagraph (B), by striking the period at 
                the end and inserting ``; and''; and
                    (C) by adding at the end the following:
                    ``(C) if the Director estimates that the total 
                amount of direct costs of all Federal private sector 
                mandates in the bill or joint resolution will equal or 
                exceed $5,000,000,000 (adjusted annually for 
                inflation), to the extent practicable, the potential 
                job creation or job loss in the private sector as a 
                result of the mandates.''.

SEC. 404. CLARIFICATION AND EXPANSION OF RULES COVERED BY THE 
              REGULATORY FLEXIBILITY ACT.

    Section 601 of title 5, United States Code, is amended--
            (1) in paragraph (6), by striking ``and'' at the end;
            (2) in paragraph (7)(B), by striking the period at the end 
        and inserting a semicolon;
            (3) in paragraph (8)--
                    (A) by striking ``Recordkeeping requirement.--The'' 
                and inserting ``the''; and
                    (B) by striking the period at the end and inserting 
                ``; and''; and
            (4) by adding at the end the following:
            ``(9) the term `economic impact' means, with respect to a 
        proposed or final rule--
                    ``(A) any direct economic effect of the rule on 
                small entities; and
                    ``(B) any indirect economic effect on small 
                entities, including potential job creation or job loss, 
                that is reasonably foreseeable and that results from 
                the rule, without regard to whether small entities are 
                directly regulated by the rule.''.

SEC. 405. REQUIREMENTS PROVIDING FOR MORE DETAILED ANALYSES.

    (a) Initial Regulatory Flexibility Analysis.--Section 603 of title 
5, United States Code, is amended--
            (1) by striking subsection (b) and inserting the following:
    ``(b) Each initial regulatory flexibility analysis required under 
this section shall contain a detailed statement--
            ``(1) describing the reasons why action by the agency is 
        being considered;
            ``(2) describing the objectives of, and legal basis for, 
        the proposed rule;
            ``(3) estimating the number and type of small entities to 
        which the proposed rule will apply;
            ``(4) describing the projected reporting, recordkeeping, 
        and other compliance requirements of the proposed rule, 
        including an estimate of the classes of small entities which 
        will be subject to the requirement and the type of professional 
        skills necessary for preparation of the report and record;
            ``(5) describing all relevant Federal rules which may 
        duplicate, overlap, or conflict with the proposed rule, or the 
        reasons why such a description could not be provided; and
            ``(6) estimating the additional cumulative economic impact 
        of the proposed rule on small entities, including job creation 
        and employment by small entities, beyond that already imposed 
        on the class of small entities by the agency, or the reasons 
        why such an estimate is not available.''; and
            (2) by adding at the end the following:
    ``(d) An agency shall notify the Chief Counsel for Advocacy of the 
Small Business Administration of any draft rules that may have a 
significant economic impact on a substantial number of small entities--
            ``(1) not later than the date on which the agency submits a 
        draft rule to the Office of Information and Regulatory Affairs 
        at the Office of Management and Budget under Executive Order 
        12866, if that order requires such submission; or
            ``(2) if no submission to the Office of Information and 
        Regulatory Affairs is so required, at a reasonable time prior 
        to publication of the rule by the agency.''.
    (b) Final Regulatory Flexibility Analysis.--
            (1) In general.--Section 604(a) of title 5, United States 
        Code, is amended--
                    (A) by inserting ``detailed'' before 
                ``description'' each place it appears;
                    (B) in paragraph (1), by striking ``succinct'';
                    (C) in paragraph (2)--
                            (i) by striking ``summary'' each place it 
                        appears and inserting ``statement''; and
                            (ii) by inserting ``(or certification of 
                        the proposed rule under section 605(b))'' after 
                        ``initial regulatory flexibility analysis'';
                    (D) in paragraph (3), by striking ``an 
                explanation'' and inserting ``a detailed explanation'';
                    (E) by redesignating paragraphs (3), (4), and (5) 
                as paragraphs (4), (5), and (6), respectively; and
                    (F) by inserting after paragraph (2) the following:
            ``(3) the response of the agency to any comments filed by 
        the Chief Counsel for Advocacy of the Small Business 
        Administration in response to the proposed rule, and a detailed 
        statement of any change made to the proposed rule in the final 
        rule as a result of the comments;''.
            (2) Publication of analysis on web site, etc.--Section 
        604(b) of title 5, United States Code, is amended to read as 
        follows:
    ``(b) The agency shall--
            ``(1) make copies of the final regulatory flexibility 
        analysis available to the public, including by publishing the 
        entire final regulatory flexibility analysis on the Web site of 
        the agency; and
            ``(2) publish in the Federal Register the final regulatory 
        flexibility analysis, or a summary of the analysis that 
        includes the telephone number, mailing address, and address of 
        the Web site where the complete final regulatory flexibility 
        analysis may be obtained.''.
    (c) Cross-References to Other Analyses.--Section 605(a) of title 5, 
United States Code, is amended to read as follows:
    ``(a) A Federal agency shall be deemed to have satisfied a 
requirement regarding the content of a regulatory flexibility agenda or 
regulatory flexibility analysis under section 602, 603, or 604, if the 
Federal agency provides in the agenda or regulatory flexibility 
analysis a cross-reference to the specific portion of an agenda or 
analysis that is required by another law and that satisfies the 
requirement.''.
    (d) Certifications.--The second sentence of section 605(b) of title 
5, United States Code, is amended by striking ``statement providing the 
factual'' and inserting ``detailed statement providing the factual and 
legal''.
    (e) Quantification Requirements.--Section 607 of title 5, United 
States Code, is amended to read as follows:
``Sec. 607. Quantification requirements
    ``In complying with sections 603 and 604, an agency shall provide--
            ``(1) a quantifiable or numerical description of the 
        effects of the proposed or final rule, including an estimate of 
        the potential for job creation or job loss, and alternatives to 
        the proposed or final rule; or
            ``(2) a more general descriptive statement and a detailed 
        statement explaining why quantification is not practicable or 
        reliable.''.

SEC. 406. PERIODIC REVIEW OF RULES.

    Section 610 of title 5, United States Code, is amended to read as 
follows:
``Sec. 610. Periodic review of rules
    ``(a) Not later than 180 days after the enactment of the Job Impact 
Analysis Act of 2010, each agency shall publish in the Federal Register 
and place on its Web site a plan for the periodic review of rules 
issued by the agency that the head of the agency determines has a 
significant economic impact on a substantial number of small entities. 
Such determination shall be made without regard to whether the agency 
performed an analysis under section 604. The purpose of the review 
shall be to determine whether such rules should be continued without 
change, or should be amended or rescinded, consistent with the stated 
objectives of applicable statutes, to minimize any significant adverse 
economic impacts on a substantial number of small entities (including 
an estimate of any adverse impacts on job creation and employment by 
small entities). Such plan may be amended by the agency at any time by 
publishing the revision in the Federal Register and subsequently 
placing the amended plan on the Web site of the agency.
    ``(b) The plan shall provide for the review of all such agency 
rules existing on the date of the enactment of the Job Impact Analysis 
Act of 2010 within 10 years after the date of publication of the plan 
in the Federal Register and every 10 years thereafter and for review of 
rules adopted after the date of enactment of the Job Impact Analysis 
Act of 2010 within 10 years after the publication of the final rule in 
the Federal Register and every 10 years thereafter. If the head of the 
agency determines that completion of the review of existing rules is 
not feasible by the established date, the head of the agency shall so 
certify in a statement published in the Federal Register and may extend 
the review for not longer than 2 years after publication of notice of 
extension in the Federal Register. Such certification and notice shall 
be sent to the Chief Counsel for Advocacy and Congress.
    ``(c) Each agency shall annually submit a report regarding the 
results of its review pursuant to such plan to Congress and, in the 
case of agencies other than independent regulatory agencies (as defined 
in section 3502(5) of title 44, United States Code), to the 
Administrator of the Office of Information and Regulatory Affairs of 
the Office of Management and Budget. Such report shall include the 
identification of any rule with respect to which the head of the agency 
made a determination of infeasibility under paragraph (5) or (6) of 
subsection (d) and a detailed explanation of the reasons for such 
determination.
    ``(d) In reviewing rules under such plan, the agency shall 
consider--
            ``(1) the continued need for the rule;
            ``(2) the nature of complaints received by the agency from 
        small entities concerning the rule;
            ``(3) comments by the Regulatory Enforcement Ombudsman and 
        the Chief Counsel for Advocacy;
            ``(4) the complexity of the rule;
            ``(5) the extent to which the rule overlaps, duplicates, or 
        conflicts with other Federal rules and, unless the head of the 
        agency determines it to be infeasible, State and local rules;
            ``(6) the contribution of the rule to the cumulative 
        economic impact of all Federal rules on the class of small 
        entities affected by the rule, unless the head of the agency 
        determines that such calculations cannot be made and reports 
        that determination in the annual report required under 
        subsection (c);
            ``(7) the length of time since the rule has been evaluated, 
        or the degree to which technology, economic conditions, or 
        other factors have changed in the area affected by the rule; 
        and
            ``(8) the current impact of the rule, including--
                    ``(A) the estimated number of small entities to 
                which the rule will apply;
                    ``(B) the estimated number of small business jobs 
                that will be lost or created by the rule; and
                    ``(C) the projected reporting, recordkeeping and 
                other compliance requirements of the proposed rule, 
                including--
                            ``(i) an estimate of the classes of small 
                        entities that will be subject to the 
                        requirement; and
                            ``(ii) the type of professional skills 
                        necessary for preparation of the report or 
                        record.
    ``(e) The agency shall publish in the Federal Register and on the 
Web site of the agency a list of rules to be reviewed pursuant to such 
plan. Such publication shall include a brief description of the rule, 
the reason why the agency determined that it has a significant economic 
impact on a substantial number of small entities (without regard to 
whether the agency had prepared a final regulatory flexibility analysis 
for the rule), and request comments from the public, the Chief Counsel 
for Advocacy, and the Regulatory Enforcement Ombudsman concerning the 
enforcement of the rule.''.

SEC. 407. OFFICE OF ADVOCACY.

    (a) In General.--Section 203 of Public Law 94-305 (15 U.S.C. 634c) 
is amended--
            (1) in paragraph (4), by striking ``and'' at the end;
            (2) in paragraph (5), by striking the period and inserting 
        ``; and''; and
            (3) by adding at the end the following:
            ``(6) carry out the responsibilities of the Office of 
        Advocacy under chapter 6 of title 5, United States Code.''.
    (b) Budgetary Line Item and Authorization of Appropriations.--Title 
II of Public Law 94-305 (15 U.S.C. 634a et seq.) is amended by striking 
section 207 and inserting the following:

``SEC. 207. BUDGETARY LINE ITEM AND AUTHORIZATION OF APPROPRIATIONS.

    ``(a) Appropriation Requests.--Each budget of the United States 
Government submitted by the President under section 1105 of title 31, 
United States Code, shall include a separate statement of the amount of 
appropriations requested for the Office of Advocacy of the Small 
Business Administration, which shall be designated in a separate 
account in the General Fund of the Treasury.
    ``(b) Administrative Operations.--The Administrator of the Small 
Business Administration shall provide the Office of Advocacy with 
appropriate and adequate office space at central and field office 
locations, together with such equipment, operating budget, and 
communications facilities and services as may be necessary, and shall 
provide necessary maintenance services for such offices and the 
equipment and facilities located in such offices.
    ``(c) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as are necessary to carry out this title. Any 
amount appropriated under this subsection shall remain available, 
without fiscal year limitation, until expended.''.

SEC. 408. CLERICAL AMENDMENTS.

    (a) Heading.--The heading of section 605 of title 5, United States 
Code, is amended to read as follows:
``Sec. 605. Incorporations by reference and certifications''.
    (b) Table of Sections.--The table of sections for chapter 6 of 
title 5, United States Code, is amended--
            (1) by striking the item relating to section 605 and 
        inserting the following:

``605. Incorporations by reference and certifications.'';
        and
            (2) by striking the item relating to section 607 and 
        inserting the following:

``607. Quantification requirements.''.

                       TITLE V--OTHER PROVISIONS

SEC. 501. FUNDS FOR SBDCS.

    (a) In General.--There is appropriated, out of any funds in the 
Treasury not otherwise appropriated, for an additional amount for 
``Small Business Administration--Salaries and Expenses'', $50,000,000, 
to remain available until January 1, 2012, for grants to small business 
development centers under section 21 of the Small Business Act (15 
U.S.C. 648) to provide targeted technical assistance to small business 
concerns (as defined under section 3 of the Small Business Act (15 
U.S.C. 632)) seeking access to capital or credit, Federal procurement 
opportunities, energy efficiency audits to reduce energy bills, 
opportunities to export products or provide services to foreign 
customers, or other assistance.
    (b) Allocation.--
            (1) In general.--Subject to paragraph (2), and 
        notwithstanding the requirements of section 21(a)(4)(C)(iii) of 
        the Small Business Act (15 U.S.C. 648(a)(4)(C)(iii)), the 
        amount appropriated under subsection (a) shall be allocated 
        under the formula under section 21(a)(4)(C)(i) of that Act.
            (2) Minimum funding.--The amount made available under this 
        section to each State shall be not less than $325,000.
            (3) Types of uses.--Of the total amount of the grants 
        awarded by the Administrator under this section--
                    (A) not less than 80 percent shall be used for 
                counseling of small business concerns; and
                    (B) not more than 20 percent may be used for 
                classes or seminars.
    (c) No Non-Federal Share Required.--Notwithstanding section 
21(a)(4)(A) of the Small Business Act (15 U.S.C. 648(a)(4)(A)), the 
recipient of a grant made using amounts appropriated under subsection 
(a) shall not be required to provide non-Federal matching funds.
    (d) Distribution.--Not later than 30 days after the date of 
enactment of this Act, the Administrator of the Small Business 
Administration shall disburse the total amount appropriated under 
subsection (a).

SEC. 502. TEMPORARY WAIVER AUTHORITY FOR WOMEN'S BUSINESS CENTER 
              PROGRAM.

    (a) Definitions.--In this section--
            (1) the term ``Administrator'' means the Administrator of 
        the Small Business Administration;
            (2) the term ``recipient organization'' means an 
        organization receiving financial assistance from the 
        Administrator under the women's business center program; and
            (3) the term ``women's business center program'' means the 
        women's business center program under section 29 of the Small 
        Business Act (15 U.S.C. 656).
    (b) Authority.--Upon request by a recipient organization, and in 
accordance with this section, the Administrator may waive, in whole or 
in part, the requirement to obtain non-Federal funds under section 
29(c) of the Small Business Act (15 U.S.C. 656(c)) for the technical 
assistance and counseling activities of the recipient organization 
carried out using financial assistance under the women's business 
center program.
    (c) Considerations.--In determining whether to waive the 
requirement to obtain non-Federal funds under this section, the 
Administrator shall consider--
            (1) the economic conditions affecting the recipient 
        organization;
            (2) the impact a waiver under this section would have on 
        the credibility of the women's business center program;
            (3) the demonstrated ability of the recipient organization 
        to raise non-Federal funds; and
            (4) the performance of the recipient organization.
    (d) Limitation.--The Administrator may not waive the requirement to 
obtain non-Federal funds under this section if granting the waiver 
would undermine the credibility of the women's business center program.
    (e) Termination.--The Administrator may not grant a waiver of the 
requirement to obtain non-Federal funds under this section on or after 
January 1, 2012.

                           TITLE VI--FUNDING

SEC. 601. OFFSET.

    Notwithstanding section 5 of the American Recovery and Reinvestment 
Act of 2009 (Public Law 111-5; 123 Stat. 116), an amount equal to the 
total amount appropriated or made available under this Act is rescinded 
on a pro rata basis from unobligated amounts appropriated or made 
available under division A of the American Recovery and Reinvestment 
Act of 2009 (Public Law 111-5; 123 Stat. 116).

SEC. 602. EMERGENCY DESIGNATION.

    (a) Statutory.--This Act is designated as an emergency requirement 
pursuant to section 4(g) of the Statutory Pay-As-You-Go Act of 2010 
(Public Law 111-139; 2 U.S.C. 933(g)).
    (b) Rulemaking.--This Act is designated as an emergency requirement 
pursuant to section 403(a) of S. Con. Res. 13 (111th Congress), the 
concurrent resolution on the budget for fiscal year 2010.
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