Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Unlocking Opportuni-
ties in Emerging Markets Act of 2020’’. 
SEC. 2. OFFICE OF EMERGING MARKETS. 
Section 7 of the Small Business Act (15 U.S.C. 636) 
is amended by adding at the end the following: 
‘‘(o) OFFICE OF EMERGING MARKETS.— 
‘‘(1) DEFINITIONS.—In this subsection— 
‘‘(A) the term ‘Associate Administrator’ 
means the Associate Administrator of the Office 
of Capital Access of the Administration; 
‘‘(B) the term ‘Director’ means the Direc-
tor of the Office of Emerging Markets; 
‘‘(C) the term ‘microloan program’ means 
the program described in subsection (m); 
‘‘(D) the term ‘Reservist’ means a member 
of a reserve component of the Armed Forces 
named in section 10101 of title 10, United 
States Code; 
‘‘(E) the term ‘rural area’ has the meaning 
given the term in subsection (m)(11); 
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‘‘(F) the term ‘service-connected’ has the 
meaning given the term in section 101 of title 
38, United States Code; and 
‘‘(G) the term ‘small business concern in 
an emerging market’ means a small business 
concern— 
‘‘(i) that is located in— 
‘‘(I) a low-income or moderate-in-
come area for purposes of the Com-
munity Development Block Grant 
Program under title I of the Housing 
and Community Development Act of 
1974; 
‘‘(II) a HUBZone as defined in 
section 31(b); 
‘‘(III) a community that has been 
designated as an empowerment zone 
or an enterprise community under 
section 1391 of the Internal Revenue 
Code of 1986; 
‘‘(IV) a community that has been 
designated as a Promise Zone by the 
Secretary of Housing and Urban De-
velopment; 
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‘‘(V) a community that has been 
designated as a qualified opportunity 
zone under section 1400Z–1 of the In-
ternal Revenue Code of 1986; or 
‘‘(VI) a rural area; 
‘‘(ii) that has more than 50 percent of 
employees residing in a low- or moderate- 
income community; 
‘‘(iii) that is growing, newly estab-
lished, or a startup, as those terms are 
used in subsection (m); 
‘‘(iv) owned and controlled by socially 
and economically disadvantaged individ-
uals, including Black Americans, Hispanic 
Americans, Native Americans (Alaska Na-
tives, Native Hawaiians, or enrolled mem-
bers of a federally or State recognized In-
dian Tribe), Asian Pacific Americans, and 
other minorities; 
‘‘(v) owned and controlled by women; 
‘‘(vi) owned and controlled by vet-
erans; 
‘‘(vii) owned and controlled by service- 
disabled veterans; or 
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‘‘(viii) not less than 51 percent owned 
and controlled by one or more— 
‘‘(I) members of the Armed 
Forces participating in the Transition 
Assistance Program of the Depart-
ment of Defense; 
‘‘(II) Reservists; 
‘‘(III) spouses of veterans, mem-
bers of the Armed Forces, or Reserv-
ists; 
‘‘(IV) surviving spouses of vet-
erans who died on active duty or as a 
result of a service-connected disability; 
or 
‘‘(V) individuals with a disability, 
as defined in section 3 of the Ameri-
cans with Disabilities Act of 1990. 
‘‘(2) ESTABLISHMENT.—There is established 
within the Administration the Office of Emerging 
Markets, which shall be— 
‘‘(A) under the general management and 
oversight of the Administration; and 
‘‘(B) responsible for the planning, coordi-
nation, implementation, evaluation, and im-
provement of the efforts of the Administrator to 
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enhance the economic well-being of small busi-
ness concerns in an emerging market. 
‘‘(3) DIRECTOR.— 
‘‘(A) IN
GENERAL.—Not later than 180 
days after the date of enactment of this sub-
section, the Administrator shall appoint a Di-
rector of the Office of Emerging Markets, who 
shall— 
‘‘(i) supervise the Office of Emerging 
Markets and report to the Associate Ad-
ministrator; and 
‘‘(ii) be in the Senior Executive Serv-
ice under subchapter VIII of chapter 53 of 
title 5. 
‘‘(B) DUTIES.—The Director shall— 
‘‘(i) create and implement strategies 
and programs that provide an integrated 
approach to the development of small busi-
ness concerns in an emerging market; 
‘‘(ii) develop and recommend policies 
concerning the microloan program and any 
other access to capital program of the Ad-
ministration, as such programs pertain to 
small business concerns in an emerging 
market; 
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‘‘(iii) establish partnerships to ad-
vance the goal of improving the economic 
success of small business concerns in an 
emerging market; and 
‘‘(iv) review the effectiveness and im-
pact of the microloan program and any 
other access to capital program of the Ad-
ministration that is targeted to serve small 
business concerns in an emerging market. 
‘‘(C) CONSULTATION.—In carrying out the 
duties under this paragraph, the Director shall 
consult with district offices of the Administra-
tion.’’. 
Æ 
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