Veterans Entrepreneurship Act of 2015

To amend the Small Business Act to increase access to capital for veteran entrepreneurs, to help create jobs, and for other purposes. 1. Short title This Act may be cited as the Veterans Entrepreneurship Act of 2015 2. Permanent SBA express loan guarantee fee waiver for veterans Section 7(a)(31) of the Small Business Act ( 15 U.S.C. 636(a)(31) (G) Guarantee fee waiver for veterans (i) Guarantee fee waiver The Administrator may not collect a guarantee fee described in paragraph (18) in connection with a loan made under this paragraph to a veteran or spouse of a veteran on or after October 1, 2015. (ii) Exception If the President’s budget for the upcoming fiscal year, submitted to Congress pursuant to section 1105(a) of title 31, United States Code, includes a cost for the program established under this subsection that is above zero, the requirements of clause (i) shall not apply to loans made during such upcoming fiscal year. (iii) Definition In this subparagraph, the term veteran or spouse of a veteran (I) a veteran, as defined in section 3(q)(4); (II) an individual who is eligible to participate in the Transition Assistance Program established under section 1144 of title 10, United States Code; (III) a member of a reserve component of the Armed Forces named in section 10101 of title 10, United States Code; (IV) the spouse of an individual described in subclause (I), (II), or (III); or (V) the surviving spouse (as defined in section 101 of title 38, United States Code) of an individual described in subclause (I), (II), or (III) who died while serving on active duty or as a result of a disability that is service-connected (as defined in such section). . 3. Report on accessibility and outreach to female veterans by the Small Business Administration Not later than 180 days after the date of enactment of this Act, the Administrator shall submit to Congress a report assessing the level of outreach to and consultation with female veterans regarding access to capital by women's business centers (as described in section 29 of the Small Business Act ( 15 U.S.C. 656 15 U.S.C. 657b June 25, 2015 Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

Summary: (This measure has not been amended since it was passed by the Senate on July 23, 2015. The summary of that version is repeated here.) Veterans Entrepreneurship Act of 2015 (Sec. 2) Amends the Small Business Act to prohibit the Small Business Administration (SBA) from collecting a guarantee fee in connection with a loan made under the SBA Express Program to a veteran or the spouse of a veteran on or after October 1, 2015, except during any upcoming fiscal year for which the President's budget, submitted to Congress, includes a cost for the Program that is above zero. (Sec. 3) Requires the SBA to assess for Congress the level of outreach to and consultation with female veterans regarding access to capital by women's business centers and Veterans Business Outreach Centers. (Sec. 4) Amends the Consolidated and Further Continuing Appropriations Act, 2015 to increase the limit from $18.75 billion to $23.5 billion for FY2015 commitments for general business loans for a combination of amortizing term loans and the aggregated maximum line of credit provided by revolving loans. Amends the Small Business Act to prohibit the SBA, starting October 1, 2015, from guaranteeing a loan if: the lender determines that the borrower is unable to obtain credit elsewhere solely because the lender's liquidity depends upon the guaranteed portion of the loan being sold on the secondary market, or the sole purpose for requesting the guarantee is to allow the lender to exceed its legal lending limit.