of the terrorist attacks on September 11, 2001, shall
be sold until 4 years after the date of the final loan
disbursement.’’.
(b) CLERICAL AMENDMENTS.—Section 7(b) of the
Small Business Act (15 U.S.C. 636(b)) is amended in the
undesignated matter at the end—
(1) by striking ‘‘, (2), and (4)’’ and inserting
‘‘and (2)’’; and
(2) by striking ‘‘, (2), or (4)’’ and inserting
‘‘(2)’’.
SEC. 5. EMERGENCY RELIEF LOAN PROGRAM.
(a) LOAN PROGRAM.—Section 7(a) of the Small
Business Act (15 U.S.C. 636(a)) is amended by adding
at the end the following:
‘‘(31) TEMPORARY
LOAN
AUTHORITY
FOL-
LOWING TERRORIST ATTACKS.—
‘‘(A) IN GENERAL.—During the 1-year pe-
riod beginning on the date of enactment of this
paragraph, the Administration may make loans
under this subsection to a small business con-
cern that has been, or that is likely to be di-
rectly or indirectly adversely affected.
‘‘(B) LOAN
TERMS.—With respect to a
loan under this paragraph—
‘‘(i) for purposes of paragraph (2)(A),
participation by the Administration shall
be equal to 90 percent of the balance of
the financing outstanding at the time of
disbursement of the loan;
‘‘(ii) the Administrator shall collect an
annual fee in an amount equal to 0.25 per-
cent of the outstanding balance of the de-
ferred participation share of the loan, not-
withstanding paragraph (23)(A);
‘‘(iii) no fee may be collected or
charged under paragraph (18);
‘‘(iv) the applicable rate of interest
shall not exceed a rate that is 2 percentage
points above the prime lending rate;
‘‘(v) no such loan shall be made if the
total amount outstanding and committed
(by participation or otherwise) to the bor-
rower under this paragraph—
‘‘(I) would exceed $1,000,000; or
‘‘(II) at the discretion of the Ad-
ministrator, and upon notice to the
Congress, would exceed $2,000,000,
as necessary to provide relief in high-
cost areas or to high-cost industries
that have been adversely affected; or
‘‘(vi) no such loan shall be made if the
gross amount of the loan would exceed
$3,000,000;
‘‘(vii) upon request of the borrower,
repayment of principal due on a loan made
under this paragraph may be deferred dur-
ing the 1-year period beginning on the date
of issuance of the loan; and
‘‘(viii) any reasonable doubt con-
cerning the repayment ability of an appli-
cant for a loan under this paragraph shall
be resolved in favor of the applicant.
‘‘(C) APPLICABILITY.—The loan terms de-
scribed in subparagraph (B) shall apply to a
loan under this paragraph notwithstanding any
other provision of this subsection, and except as
specifically provided in this paragraph, a loan
under this paragraph shall otherwise be subject
to the same terms and conditions as any other
loan under this subsection.
‘‘(D) TRAVEL AGENCIES.—For purposes of
loans made under this paragraph, the size
standard 
for 
a 
travel 
agency 
shall 
be
$2,000,000 in annual receipts.’’.
(b) 
CONFORMING
AMENDMENT.—Section
7(a)(23)(A) of the Small Business Act (15 U.S.C.
636(a)(23)(A)) is amended by inserting ‘‘other than a loan
under paragraph (31) or a loan described in paragraph
(2)(E),’’ after ‘‘this subsection,’’.
SEC. 6. BUSINESS LOAN ASSISTANCE FOLLOWING TER-
RORIST ATTACKS.
(a) ONE-YEAR WAIVER OF SECTION 7(a) FEES.—
Section 7(a)(18) of the Small Business Act (15 U.S.C.
636(a)(18)) is amended by adding at the end the fol-
lowing:
‘‘(C) ONE-YEAR
WAIVER
OF
FEES
FOL-
LOWING TERRORIST ATTACKS.—For loans ap-
proved during the 1-year period following the
date of enactment of the American Small Busi-
ness Emergency Relief and Recovery Act of
2001, a fee equal to not more than one half of
the amount otherwise required by this para-
graph shall be collected or charged under this
paragraph.’’.
(b) ONE-YEAR INCREASE IN PARTICIPATION LEV-
ELS.—Section 7(a)(2) of the Small Business Act (15
U.S.C. 636(a)(2)) is amended—
(1) in subparagraph (A), by striking ‘‘subpara-
graph (B)’’ and inserting ‘‘subparagraphs (B) and
(E)’’; and
(2) by adding at the end the following:
‘‘(E) TEMPORARY PARTICIPATION LEVELS
FOLLOWING
TERRORIST
ATTACKS.—For loans
under this subsection, other than paragraph
(31), that are approved during the 1-year pe-
riod following the date of enactment of the
American Small Business Emergency Relief and
Recovery Act of 2001—
‘‘(i) the guarantee percentage speci-
fied by clause (i) of subparagraph (A) shall
be increased to 85 percent (except with re-
spect to loans approved under the SBA
Express Pilot Program); and
‘‘(ii) the Administrator shall collect an
annual fee in an amount equal to 0.25 per-
cent of the outstanding balance of the de-
ferred participation share of the loan, not-
withstanding paragraph (23)(A).’’.
(c) REDUCTION OF SECTION 504 FEES.—
(1) IN GENERAL.—Section 503 of the Small
Business Investment Act of 1958 (15 U.S.C. 697) is
amended—
(A) in subsection (b)(7)(A)—
(i) by redesignating clauses (i) and
(ii) as subclauses (I) and (II), respectively,
and moving the margins 2 ems to the
right;
(ii) by striking ‘‘not exceed the lesser’’
and inserting ‘‘not exceed—
‘‘(i) the lesser’’; and
(iii) by adding at the end the fol-
lowing:
‘‘(ii) 50 percent of the amount estab-
lished under clause (i) in the case of a loan
made during the 1-year period following
the date of enactment of the American
Small Business Emergency Relief and Re-
covery Act of 2001, for the life of the loan;
and’’; and
(B) by adding at the end the following:
‘‘(i) ONE-YEAR WAIVER OF FEES FOLLOWING TER-
RORIST ATTACKS.—The Administration may not assess or
collect any up front guarantee fee with respect to loans
made under this title during the 1-year period following
the date of enactment of the American Small Business
Emergency Relief and Recovery Act of 2001.’’.
(2) USE
OF
FUNDS
FOR
SECTION
504
PRO-
GRAM.—The provisions of subsections (b)(7)(A),
(d)(2), and (i) of section 503 of the Small Business
Investment Act of 1958, as amended by this sub-
section, shall be effective only to the extent that
funds are made available under appropriations Acts,
which funds shall be utilized to offset the cost (as
such term is defined in section 502 of the Federal
Credit Reform Act of 1990) to the Administration of
making guarantees under those amended provisions.
(d) BUDGETARY
TREATMENT
OF
LOANS
AND
FINANCINGS.—Assistance made available under any loan
made or approved by the Small Business Administration
under section 7(a) or 7(b)(4) of the Small Business Act
(15 U.S.C. 636(a)) or financings made under title III or
V of the Small Business Investment Act of 1958 (15
U.S.C. 697a), during the 1-year period beginning on the
date of enactment of this Act, shall be treated as separate
programs of the Small Business Administration for pur-
poses of the Federal Credit Reform Act of 1990 only.
(e) USE OF FUNDS FOR 7(a) AND 7(a) EMERGENCY
RELIEF LOAN PROGRAMS.—The provisions of paragraphs
(2), (18), and (31) of section 7(a) of the Small Business
Act, as amended by this Act, shall be effective only to the
extent that funds are made available under appropriations
Acts, which funds shall be utilized to offset the cost (as
such term is defined in section 502 of the Federal Credit
Reform Act of 1990) to the Administration of making
guarantees under those amended provisions.
SEC. 7. APPROVAL PROCESS.
Notwithstanding any other provision of law, the Ad-
ministrator of the Small Business Administration may
adopt such approval processes as the Administrator deter-
mines, after consultation with the Committee on Small
Business and Entrepreneurship of the Senate and the
Committee on Small Business of the House of Representa-
tives, to be appropriate in order to make assistance under
this Act and the amendments made by this Act available
to all eligible small business concerns.
SEC. 8. OTHER SPECIALIZED ASSISTANCE AND MONI-
TORING AUTHORIZED.
(a) ADDITIONAL SBDC AUTHORITY.—
(1) IN
GENERAL.—Section 21(c)(3) of the
Small Business Act (15 U.S.C. 648(c)(3)) is
amended—
(A) in subparagraph (S), by striking
‘‘and’’ at the end;
(B) in subparagraph (T), by striking the
period at the end and inserting ‘‘; and’’; and
(C) by adding at the end the following:
‘‘(U) providing individualized assistance with
respect to financing, refinancing of existing debt,
and business counseling to small business concerns
adversely affected, directly or indirectly, by the ter-
rorist attacks on September 11, 2001.’’.
(2) WAIVER OF MATCHING REQUIREMENTS.—
Section 21(a)(4) of the Small Business Act (15
U.S.C. 648(a)(4)) is amended by inserting before
the period the following: ‘‘, except that the matching
requirements of this paragraph do not apply with re-
spect to any assistance provided under subsection
(c)(3)(U)’’.
(b) ADDITIONAL
SCORE AUTHORITY.—Section
8(b)(1)(B) of the Small Business Act (15 U.S.C.
637(b)(1)(B) is amended—
(1) by inserting ‘‘(i)’’ after ‘‘(B)’’; and
(2) by adding at the end the following:
‘‘(ii) The functions of the Service Corps of Re-
tired Executives (SCORE) shall include the provi-
sion of individualized assistance with respect to fi-
nancing, refinancing of existing debt, and business
counseling to small business concerns adversely af-
fected by the terrorist attacks on September 11,
2001.’’.
(c) ADDITIONAL MICROLOAN PROGRAM AUTHOR-
ITY.—Section 7(m) of the Small Business Act (15 U.S.C.
636(m)) is amended by adding at the end the following:
‘‘(14) ASSISTANCE AFTER TERRORIST ATTACKS
OF SEPTEMBER 11, 2001.—Amounts made available
under this subsection may be used by intermediaries
to provide individualized assistance with respect to
financing, refinancing of existing debt, and business
counseling to small business concerns adversely af-
fected by the terrorist attacks on September 11,
2001.’’.
(d) ADDITIONAL WOMEN’S BUSINESS DEVELOPMENT
CENTER AUTHORITY.—Section 29 of the Small Business
Act (15 U.S.C. 656) is amended—
(1) in subsection (b)—
(A) in paragraph (2), by striking ‘‘and’’ at
the end;
(B) in paragraph (3), by striking the pe-
riod at the end and inserting ‘‘; and’’; and
(C) by adding at the end the following:
‘‘(4) individualized assistance with respect to fi-
nancing, refinancing of existing debt, and business
counseling to small business concerns owned and
controlled by women that were adversely affected by
the terrorist attacks on September 11, 2001.’’; and
(2) in subsection (c), by adding at the end the
following:
‘‘(5) WAIVER OF MATCHING REQUIREMENTS.—
A recipient organization shall not be subject to the
non-Federal funding requirements of paragraph (1)
with respect to assistance provided under subsection
(b)(4).’’.
(e) ADDITIONAL SBIC AUTHORITY.—Section 303 of
the Small Business Investment Act of 1958 (15 U.S.C.
683) is amended by adding at the end the following:
‘‘(k) AUTHORITY AFTER TERRORIST ATTACKS OF
SEPTEMBER 11, 2001.—Small business investment com-
panies are authorized and encouraged to provide equity
capital and to make loans to small business concerns pur-
suant to sections 304(a) and 305(a) of the Small Business
Investment Act of 1958, respectively, for the purpose of
providing assistance to small business concerns adversely
affected by the terrorist attacks on September 11, 2001.’’.
SEC. 9. STUDY AND REPORT ON EFFECTS ON SMALL BUSI-
NESS CONCERNS.
(a) STUDY.—
(1) IN GENERAL.—The Office of Advocacy of
the Small Business Administration shall conduct an-
nual studies for a 5-year period on the impact of the
terrorist attacks perpetrated against the United
States on September 11, 2001, on small business
concerns, and the effects of assistance provided
under this Act on such small business concerns.
(2) CONTENTS.—The study conducted under
paragraph (1) shall include information regarding—
(A) bankruptcies and business failures that
occurred as a result of the events of September
11, 2001, as compared to those that occurred
in 1999 and 2000;
(B) the loss of jobs, revenue, and profits in
small business concerns as a result of those
events, as compared to those that occurred in
1999 and 2000;
(C) the impact of assistance provided
under this Act to small business concerns ad-
versely affected by those attacks, including in-
formation regarding whether—
(i) small business concerns that re-
ceived such assistance would have re-
mained in business without such assist-
ance;
(ii) jobs were saved due to such assist-
ance; and
(iii) small business concerns that re-
mained in business had increases in em-
ployment and sales since receiving assist-
ance.
(b) REPORT.—The Office of Advocacy shall submit
a report to Congress on the studies required by subsection
(a)(1), specifically addressing the requirements of sub-
section (a)(2) in September of each of fiscal years 2002
through 2006.
(c) AUTHORIZATION OF APPROPRIATIONS.—There is
authorized to be appropriated to carry out this section,
$500,000 for each of fiscal years 2002 through 2006.
SEC. 10. EMERGENCY EQUITABLE RELIEF FOR FEDERAL
CONTRACTORS.
(a) GUIDANCE REQUIRED.—
(1) IN GENERAL.—Under guidance issued by
the Administrator for Federal Procurement Policy in
conjunction with the Administrator of the Small
Business Administration, the head of a contracting
agency of the United States may increase the price
of a contract entered into by the agency that is per-
formed by a small business concern (as defined in
section 3 of the Small Business Act) to the extent
determined equitable under this section on the basis
of loss resulting from security measures taken by the
Federal Government at Federal facilities as a result
of the terrorist attacks on September 11, 2001.
(2) EXPEDITED ISSUANCE.—Guidance required
by paragraph (1) shall be issued under expedited
procedures, not later than 20 days after the date of
enactment of this Act.
(b) EXPEDITED PROCEDURES.—
(1) IN GENERAL.— The Administrator for Fed-
eral Procurement Policy shall prescribe expedited
procedures for considering whether to grant an equi-
table adjustment in the case of a contract of an
agency under subsection (a).
(2) REQUIREMENTS.—The procedures required
by paragraph (1) shall provide for—
(A) an initial review of the merits of a con-
tractor’s request by the contracting officer con-
cerned with the contract;
(B) a final determination of the merits of
the contractor’s request, including the value of
any price adjustment, by the Head of the Con-
tracting Agency, in consultation with the Ad-
ministrator of the Small Business Administra-
tion, taking into consideration the initial review
under subparagraph (A); and
(C) payment from the fund established
under subsection (d) for the contract’s price ad-
justment.
(3) TIMING.—The procedures required by para-
graph (1) shall require completion of action on a
contractor’s request for adjustment not later than
30 days after the date on which the contractor sub-
mits the request to the contracting officer concerned.
(c) AUTHORIZED REMEDIES.—In addition to making
a price adjustment under subsection (a), the time for per-
formance of a contract may be extended under this sec-
tion.
(d) PAYMENT OF ADJUSTED PRICE.—
(1) FUND
ESTABLISHED.—The Administrator
of the Small Business Administration shall establish
a fund for the payment of contract price adjust-
ments under this section. Payments of amounts for
price adjustments shall be made out of the fund.
(2) AVAILABILITY.—Notwithstanding any other
provision of law, amounts in the fund under this
subsection shall remain available until expended.
(e) TERMINATION OF AUTHORITY.—
(1) REQUESTS.—No request for adjustment
under this section may be accepted more than 330
days after the date of enactment of this Act.
(2) TERMINATION.—The authority under this
section shall terminate 1 year after the date of en-
actment of this Act.
(f) AUTHORIZATION OF APPROPRIATIONS.—There is
authorized to be appropriated to the Small Business Ad-
ministration to carry out this section, $100,000,000, in-
cluding funds for administrative expenses and costs. Any
funds remaining in the fund established under subsection
(d) 1 year after the date of enactment of this Act shall
be transferred to the disaster loan account of the United
States Small Business Administration.
SEC. 11. REPORTS TO CONGRESS.
(a) REPORTS REQUIRED.—The Administrator of the
Small Business Administration shall submit regular re-
ports to the Committee on Small Business and Entrepre-
neurship of the Senate and the Committee on Small Busi-
ness of the House of Representatives regarding the imple-
mentation of this Act and the amendments made by this
Act, including program delivery, staffing, and administra-
tive expenses related to such implementation.
(b) FREQUENCY OF REPORTS.—The reports required
by subsection (a) shall be submitted on November 15,
2001, and December 15, 2001, and quarterly thereafter
through December 31, 2003.
SEC. 12. EXPEDITED ISSUANCE OF IMPLEMENTING GUIDE-
LINES.
Not later than 20 days after the date of enactment
of this Act, the Administrator of the Small Business Ad-
ministration shall issue interim final rules and guidelines
to implement this Act and the amendments made by this
Act.
SEC. 13. INCREASED AUTHORIZATIONS OF APPROPRIA-
TIONS.
Section 20 of the Small Business Act (15 U.S.C. 631
note) is amended—
(1) in subsection (h)(1)(B)—
(A) by striking ‘‘$20,050,000,000’’ and in-
serting ‘‘$24,050,000,000’’;
(B) by striking ‘‘$15,000,000,000’’ and in-
serting ‘‘$17,000,000,000’’; and
(C) by striking ‘‘$4,500,000,000’’ and in-
serting ‘‘$6,500,000,000’’;
(2) in subsection (h)(1)(C)—
(A) by striking ‘‘$3,500,000,000’’ and in-
serting ‘‘$4,200,000,000’’; and
(B) by striking ‘‘$2,500,000,000’’ and in-
serting ‘‘$2,700,000,000’’;
(3) in subsection (i)(1)(B)—
(A) by striking ‘‘$21,550,000,000’’ and in-
serting ‘‘$25,550,000,000’’;
(B) by striking ‘‘$16,000,000,000’’ and in-
serting ‘‘$18,000,000,000’’; and
(C) by striking ‘‘$5,000,000,000’’ and in-
serting ‘‘$7,000,000,000’’;
(4) in subsection (i)(1)(C)—
(A) by striking ‘‘$4,000,000,000’’ and in-
serting ‘‘$4,700,000,000’’; and
(B) by striking ‘‘$3,000,000,000’’ and in-
serting ‘‘$3,200,000,000’’; and
(5) by adding at the end the following:
‘‘(j) SPECIAL AUTHORIZATIONS OF APPROPRIATIONS
FOLLOWING TERRORIST ATTACKS.—In addition to any
other amounts authorized by this Act for any fiscal year,
there are authorized to be appropriated to the Administra-
tion, to remain available until expended—
‘‘(1) for fiscal year 2002 and each fiscal year
thereafter, such sums as may be necessary to carry
out paragraph (4) of section 7(b), including nec-
essary loan capital and funds for administrative ex-
penses related to making and servicing loans pursu-
ant to that paragraph;
‘‘(2) for fiscal year 2002, $25,000,000, to be
used for activities of small business development
centers pursuant to section 21(c)(3)(U)—
‘‘(A) $2,500,000 of which shall be used to
assist small business concerns (as that term is
defined for purposes of section 7(b)(4)) located
sions, necessary loan capital, and funds for adminis-
trative expenses; and
‘‘(7) for fiscal year 2002, and each fiscal year
thereafter, such sums as may be necessary to carry
out the 1-year suspension of fees under subsections
(b)(7)(A), (d)(2), and (i) of section 503 of the Small
Business Investment Act of 1958, in response to the
terrorist attacks on September 11, 2001, including
any funds necessary to offset fees and amounts
waived under those provisions and including funds
for administrative expenses.’’.
Æ