Sec. 8. Advisory Committee on Veterans Business Affairs extension. 
Sec. 9. National Women’s Business Council reauthorization. 
SEC. 2. REAUTHORIZATION OF SMALL BUSINESS PRO-
GRAMS. 
Section 20 of the Small Business Act (15 U.S.C. 631 
note) is amended— 
(1) by striking subsections (b), (d), and (j); 
(2) by redesignating subsections (c) and (e) as 
(b) and (c), respectively; 
(3) in subsection (b) (as so redesignated; dis-
aster mitigation pilot program) by striking ‘‘2005’’ 
and ‘‘2006’’ and inserting ‘‘2008’’ and ‘‘2009’’, re-
spectively; and 
(4) by inserting after subsection (c) (as so re-
designated) the following: 
‘‘(d) FISCAL YEAR 2008.— 
‘‘(1) PROGRAM
LEVELS.—The following pro-
gram levels are authorized for fiscal year 2008: 
‘‘(A) For the programs authorized by this 
Act, the Administration is authorized to 
make— 
‘‘(i) $80,000,000 in technical assist-
ance grants, as provided in section 7(m); 
and 
‘‘(ii) $110,000,000 in direct loans, as 
provided in 7(m). 
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‘‘(B) For the programs authorized by this 
Act, the Administration is authorized to make 
$29,300,000,000 in deferred participation loans 
and other financings. Of such sum, the Admin-
istration is authorized to make— 
‘‘(i) $20,000,000,000 in general busi-
ness loans, as provided in section 7(a); 
‘‘(ii) $8,500,000,000 in certified de-
velopment company financings, as provided 
in section 7(a)(13) and as provided in sec-
tion 504 of the Small Business Investment 
Act of 1958; 
‘‘(iii) $750,000,000 in loans, as pro-
vided in section 7(a)(21); and 
‘‘(iv) $50,000,000 in loans, as pro-
vided in section 7(m). 
‘‘(C) For the programs authorized by title 
III of the Small Business Investment Act of 
1958, the Administration is authorized to 
make— 
‘‘(i) $4,500,000,000 in purchases of 
participating securities; and 
‘‘(ii) $4,000,000,000 in guarantees of 
debentures. 
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‘‘(D) For the programs authorized by part 
B of title IV of the Small Business Investment 
Act of 1958, the Administration is authorized 
to enter into guarantees not to exceed 
$6,000,000,000, of which not more than 50 
percent may be in bonds approved pursuant to 
section 411(a)(3) of that Act. 
‘‘(E) The Administration is authorized to 
make grants or enter into cooperative agree-
ments for a total amount of $7,000,000 for the 
Service Corps of Retired Executives program 
authorized by section 8(b)(1). 
‘‘(2) ADDITIONAL AUTHORIZATIONS.— 
‘‘(A) There are authorized to be appro-
priated to the Administration for fiscal year 
2008 such sums as may be necessary to carry 
out the provisions of this Act not elsewhere pro-
vided for, including administrative expenses and 
necessary loan capital for disaster loans pursu-
ant to section 7(b), and to carry out the Small 
Business Investment Act of 1958, including sal-
aries and expenses of the Administration. 
‘‘(B) Notwithstanding any other provision 
of this paragraph, for fiscal year 2008— 
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‘‘(i) no funds are authorized to be 
used as loan capital for the loan program 
authorized by section 7(a)(21) except by 
transfer from another Federal department 
or agency to the Administration, unless the 
program level authorized for general busi-
ness loans under paragraph (1)(B)(i) is 
fully funded; and 
‘‘(ii) the Administration may not ap-
prove loans on its own behalf or on behalf 
of any other Federal department or agen-
cy, by contract or otherwise, under terms 
and conditions other than those specifically 
authorized under this Act or the Small 
Business Investment Act of 1958, except 
that it may approve loans under section 
7(a)(21) of this Act in gross amounts of 
not more than $2,000,000. 
‘‘(e) FISCAL YEAR 2009.— 
‘‘(1) PROGRAM
LEVELS.—The following pro-
gram levels are authorized for fiscal year 2009: 
‘‘(A) For the programs authorized by this 
Act, the Administration is authorized to 
make— 
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‘‘(i) $90,000,000 in technical assist-
ance grants, as provided in section 7(m); 
and 
‘‘(ii) $120,000,000 in direct loans, as 
provided in 7(m). 
‘‘(B) For the programs authorized by this 
Act, the Administration is authorized to make 
$29,800,000,000 in deferred participation loans 
and other financings. Of such sum, the Admin-
istration is authorized to make— 
‘‘(i) $20,000,000,000 in general busi-
ness loans, as provided in section 7(a); 
‘‘(ii) $9,000,000,000 in certified de-
velopment company financings, as provided 
in section 7(a)(13) and as provided in sec-
tion 504 of the Small Business Investment 
Act of 1958; 
‘‘(iii) $750,000,000 in loans, as pro-
vided in section 7(a)(21); and 
‘‘(iv) $50,000,000 in loans, as pro-
vided in section 7(m). 
‘‘(C) For the programs authorized by title 
III of the Small Business Investment Act of 
1958, the Administration is authorized to 
make— 
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‘‘(i) $4,500,000,000 in purchases of 
participating securities; and 
‘‘(ii) $4,000,000,000 in guarantees of 
debentures. 
‘‘(D) For the programs authorized by part 
B of title IV of the Small Business Investment 
Act of 1958, the Administration is authorized 
to enter into guarantees not to exceed 
$6,000,000,000, of which not more than 50 
percent may be in bonds approved pursuant to 
section 411(a)(3) of that Act. 
‘‘(E) The Administration is authorized to 
make grants or enter into cooperative agree-
ments for a total amount of $7,000,000 for the 
Service Corps of Retired Executives program 
authorized by section 8(b)(1). 
‘‘(2) ADDITIONAL AUTHORIZATIONS.— 
‘‘(A) There are authorized to be appro-
priated to the Administration for fiscal year 
2009 such sums as may be necessary to carry 
out the provisions of this Act not elsewhere pro-
vided for, including administrative expenses and 
necessary loan capital for disaster loans pursu-
ant to section 7(b), and to carry out the Small 
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