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‘‘(1) IN GENERAL.—The Administrator, in con-
sultation with the Association and after notice and 
an opportunity for comment, shall promulgate regu-
lations to carry out this section. 
‘‘(2) DEADLINE.—The Administrator shall pro-
mulgate final regulations not later than 180 days of 
the date of enactment of the Military Reservist and 
Veteran Small Business Reauthorization and Oppor-
tunity Act of 2007. 
‘‘(3) CONTENTS.—The regulations developed by 
the Administrator under this subsection shall estab-
lish— 
‘‘(A) procedures for identifying, in con-
sultation with the Secretary of Defense, States 
that have had a recent activation of Reservists; 
‘‘(B) priorities for the types of assistance 
to be provided under the program authorized by 
this section; 
‘‘(C) standards relating to educational, 
technical, and support services to be provided 
by a grantee; 
‘‘(D) standards relating to any national 
service delivery and support function to be pro-
vided by a grantee; 
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‘‘(E) standards relating to any work plan 
that the Administrator may require a grantee 
to develop; and 
‘‘(F) standards relating to the educational, 
technical, and professional competency of any 
expert or other assistance provider to whom a 
small business concern may be referred for as-
sistance by a grantee. 
‘‘(f) APPLICATION.— 
‘‘(1) IN GENERAL.—Each eligible applicant de-
siring a grant under this section shall submit an ap-
plication to the Administrator at such time, in such 
manner, and accompanied by such information as 
the Administrator may reasonably require. 
‘‘(2) CONTENTS.—Each application submitted 
under paragraph (1) shall describe— 
‘‘(A) the activities for which the applicant 
seeks assistance under this section; and 
‘‘(B) how the applicant plans to allocate 
funds within its network. 
‘‘(g) AWARD OF GRANTS.— 
‘‘(1) 
DEADLINE.—The 
Administrator 
shall 
award grants not later than 60 days after the pro-
mulgation of final rules and regulations under sub-
section (e). 
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‘‘(2) AMOUNT.—Each eligible applicant award-
ed a grant under this section shall receive a grant 
in an amount not greater than $300,000 per fiscal 
year. 
‘‘(h) REPORT.— 
‘‘(1) IN GENERAL.—The Comptroller General of 
the United States shall— 
‘‘(A) initiate an evaluation of the program 
not later than 30 months after the disburse-
ment of the first grant under this section; and 
‘‘(B) submit a report not later than 6 
months after the initiation of the evaluation 
under paragraph (1) to— 
‘‘(i) the Administrator; 
‘‘(ii) the Committee on Small Busi-
ness and Entrepreneurship of the Senate; 
and 
‘‘(iii) the Committee on Small Busi-
ness of the House of Representatives. 
‘‘(2) CONTENTS.—The report under paragraph 
(1) shall— 
‘‘(A) address the results of the evaluation 
conducted under paragraph (1); and 
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‘‘(B) recommend changes to law, if any, 
that it believes would be necessary or advisable 
to achieve the goals of this section. 
‘‘(i) AUTHORIZATION OF APPROPRIATIONS.— 
‘‘(1) IN GENERAL.—There are authorized to be 
appropriated to carry out this section— 
‘‘(A) $5,000,000 for the first fiscal year 
beginning after the date of enactment of the 
Military Reservist and Veteran Small Business 
Reauthorization and Opportunity Act of 2007; 
and 
‘‘(B) $5,000,000 for the fiscal year fol-
lowing the fiscal year described in subparagraph 
(A). 
‘‘(2) FUNDING OFFSET.—Amounts necessary to 
carry out this section shall be offset and made avail-
able through the reduction of the authorization of 
funding under section 20(e)(1)(B)(iv) of the Small 
Business Act (15 U.S.C. 631 note).’’. 
SEC. 204. VETERANS ASSISTANCE AND SERVICES PRO-
GRAM. 
Section 21 of the Small Business Act (15 U.S.C. 648) 
is amended by adding at the end the following: 
‘‘(n) VETERANS ASSISTANCE AND SERVICES PRO-
GRAM.— 
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‘‘(1) IN GENERAL.—A Small Business Develop-
ment Center may apply for an additional grant to 
carry out a veterans assistance and services pro-
gram. 
‘‘(2) ELEMENTS OF PROGRAM.—Under a pro-
gram under paragraph (1), the Center shall— 
‘‘(A) create a marketing campaign to pro-
mote awareness and education of the services of 
the Center that are available to veterans, and to 
target the campaign toward veterans, disabled 
veterans, military units, Federal agencies, and 
veterans organizations; 
‘‘(B) use technology-assisted online coun-
seling and distance learning technology to over-
come the impediments to entrepreneurship 
faced by veterans and members of the Armed 
Forces; and 
‘‘(C) increase coordination among organi-
zations that assist veterans, including by estab-
lishing virtual integration of service providers 
and offerings for a one-stop point of contact for 
veterans who are entrepreneurs or small busi-
ness owners. 
‘‘(3) MINIMUM
AMOUNT.—Each grant under 
this subsection shall be for at least $75,000. 
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‘‘(4) MAXIMUM AMOUNT.—A grant under this 
subsection may not exceed $250,000. 
‘‘(5) FUNDING.—Subject to amounts approved 
in advance in appropriations Acts, the Administra-
tion may make grants or enter into cooperative 
agreements to carry out the provisions of this sub-
section.’’. 
TITLE III—RESERVIST 
PROGRAMS 
SEC. 301. RESERVIST PROGRAMS. 
(a) APPLICATION PERIOD.—Section 7(b)(3)(C) of the 
Small Business Act (15 U.S.C. 636(b)(3)(C)) is amend-
ed— 
(1) by striking ‘‘90 days’’ and inserting ‘‘1 
year’’; and 
(2) by adding at the end the following: ‘‘The 
Administrator may, when appropriate (as deter-
mined by the Administrator), waive the ending date 
specified in the preceding sentence and provide a 
later ending date.’’. 
(b) PRE-CONSIDERATION PROCESS.— 
(1) DEFINITION.—In this subsection, the term 
‘‘eligible Reservist’’ means a Reservist who— 
(A) has not been ordered to active duty; 
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(B) expects to be ordered to active duty 
during a period of military conflict; and 
(C) can reasonably demonstrate that the 
small business concern for which that Reservist 
is a key employee will suffer economic injury in 
the absence of that Reservist. 
(2) 
ESTABLISHMENT.—Not 
later 
than 
months after the date of enactment of this Act, the 
Administrator shall establish a pre-consideration 
process, under which the Administrator— 
(A) may collect all relevant materials nec-
essary for processing a loan to a small business 
concern under section 7(b)(3) of the Small 
Business Act (15 U.S.C. 636(b)(3)) before an 
eligible Reservist employed by that small busi-
ness concern is activated; and 
(B) shall distribute funds for any loan ap-
proved under subparagraph (A) if that eligible 
Reservist is activated. 
(c) OUTREACH AND TECHNICAL ASSISTANCE PRO-
GRAM.— 
(1) IN
GENERAL.—Not later than 6 months 
after the date of enactment of this Act, the Adminis-
trator, in consultation with the Secretary of Vet-
erans Affairs and the Secretary of Defense, shall de-
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velop a comprehensive outreach and technical assist-
ance program (in this subsection referred to as the 
‘‘program’’) to— 
(A) market the loans available under sec-
tion 7(b)(3) of the Small Business Act (15 
U.S.C. 636(b)(3)) to Reservists, and family 
members of Reservists, that are on active duty 
and that are not on active duty; and 
(B) provide technical assistance to a small 
business concern applying for a loan under that 
section. 
(2) COMPONENTS.—The program shall— 
(A) incorporate appropriate websites main-
tained by the Administration, the Department 
of Veterans Affairs, and the Department of De-
fense; and 
(B) require that information on the pro-
gram is made available to small business con-
cerns directly through— 
(i) the district offices and resource 
partners of the Administration, including 
small business development centers, wom-
en’s business centers, and the Service 
Corps of Retired Executives; and 
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(ii) other Federal agencies, including 
the Department of Veterans Affairs and 
the Department of Defense. 
(3) REPORT.— 
(A) IN
GENERAL.—Not later than 6 
months after the date of enactment of this Act, 
and every 6 months thereafter until the date 
that is 30 months after such date of enactment, 
the Administrator shall submit to Congress a 
report on the status of the program. 
(B) CONTENTS.—Each report submitted 
under subparagraph (A) shall include— 
(i) for the 6-month period ending on 
the date of that report— 
(I) the number of loans approved 
under section 7(b)(3) of the Small 
Business Act (15 U.S.C. 636(b)(3)); 
(II) the number of loans dis-
bursed under that section; and 
(III) the total amount disbursed 
under that section; and 
(ii) recommendations, if any, to make 
the program more effective in serving small 
business concerns that employ Reservists. 
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SEC. 302. RESERVIST LOANS. 
(a) IN GENERAL.—Section 7(b)(3)(E) of the Small 
Business Act (15 U.S.C. 636(b)(3)(E)) is amended by 
striking ‘‘$1,500,000’’ each place such term appears and 
inserting ‘‘$2,000,000’’. 
(b) LOAN INFORMATION.— 
(1) IN GENERAL.—The Administrator and the 
Secretary of Defense shall develop a joint website 
and printed materials providing information regard-
ing any program for small business concerns that is 
available to veterans or Reservists. 
(2) MARKETING.—The Administrator is author-
ized— 
(A) to advertise and promote the program 
under section 7(b)(3) of the Small Business Act 
jointly with the Secretary of Defense and vet-
erans’ service organizations; and 
(B) to advertise and promote participation 
by lenders in such program jointly with trade 
associations for banks or other lending institu-
tions. 
SEC. 303. NONCOLLATERALIZED LOANS. 
Section 7(b)(3) of the Small Business Act (15 U.S.C. 
636(b)(3)) is amended by adding at the end the following: 
‘‘(G)(i) Notwithstanding any other provi-
sion of law, the Administrator may make a loan 
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under this paragraph of not more than $50,000 
without collateral. 
‘‘(ii) The Administrator may defer pay-
ment of principal and interest on a loan de-
scribed in clause (i) during the longer of— 
‘‘(I) the 1-year period beginning on 
the date of the initial disbursement of the 
loan; and 
‘‘(II) the period during which the rel-
evant essential employee is on active 
duty.’’. 
SEC. 304. LOAN PRIORITY. 
Section 7(b)(3) of the Small Business Act (15 U.S.C. 
636(b)(3)), as amended by this Act, is amended by adding 
at the end the following: 
‘‘(H) The Administrator shall give priority 
to any application for a loan under this para-
graph and shall process and make a determina-
tion regarding such applications prior to proc-
essing or making a determination on other loan 
applications under this subsection, on a rolling 
basis.’’. 
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SEC. 305. RELIEF FROM TIME LIMITATIONS FOR VETERAN- 
OWNED SMALL BUSINESSES. 
Section 3(q) of the Small Business Act (15 U.S.C. 
632(q)) is amended by adding at the end the following: 
‘‘(5) RELIEF FROM TIME LIMITATIONS.— 
‘‘(A) IN
GENERAL.—Any time limitation 
on any qualification, certification, or period of 
participation imposed under this Act on any 
program that is not subject to the Federal 
Credit Reform Act of 1990 (2 U.S.C. 661 et 
seq.) and is available to small business concerns 
shall be extended for a small business concern 
that— 
‘‘(i) is owned and controlled by— 
‘‘(I) a veteran who was called or 
ordered to active duty under a provi-
sion of law specified in section 
101(a)(13)(B) of title 10, United 
States Code, on or after September 
11, 2001; or 
‘‘(II) a service-disabled veteran 
who became such a veteran due to an 
injury or illness incurred or aggra-
vated in the active military, naval, or 
air service during a period of active 
duty pursuant to a call or order to ac-
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tive duty under a provision of law re-
ferred to in subclause (I) on or after 
September 11, 2001; and 
‘‘(ii) was subject to the time limitation 
during such period of active duty. 
‘‘(B) DURATION.—Upon submission of 
proper documentation to the Administrator, the 
extension of a time limitation under subpara-
graph (A) shall be equal to the period of time 
that such veteran who owned or controlled such 
a concern was on active duty as described in 
that subparagraph. 
‘‘(C) EXCEPTION FOR PROGRAMS SUBJECT 
TO FEDERAL CREDIT REFORM ACT OF 1990.— 
The provisions of subparagraphs (A) and (B) 
shall not apply to any programs subject to the 
Federal Credit Reform Act of 1990 (2 U.S.C. 
661 et seq.).’’. 
SEC. 306. SERVICE-DISABLED VETERANS. 
Not later than 180 days after the date of enactment 
of this Act, the Comptroller General of the United States 
shall submit to the Committee on Small Business and En-
trepreneurship of the Senate and the Committee on Small 
Business of the House of Representatives a report describ-
ing— 
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(1) the types of assistance needed by service- 
disabled veterans who wish to become entrepreneurs; 
and 
(2) any resources that would assist such serv-
ice-disabled veterans. 
SEC. 307. STUDY ON OPTIONS FOR PROMOTING POSITIVE 
WORKING RELATIONS BETWEEN EMPLOYERS 
AND THEIR RESERVE COMPONENT EMPLOY-
EES. 
(a) STUDY REQUIRED.—The Comptroller General of 
the United States shall conduct a study on options for pro-
moting positive working relations between employers and 
Reserve component employees of such employers, includ-
ing assessing options for improving the time in which em-
ployers of Reservists are notified of the call or order of 
such members to active duty other than for training. 
(b) REPORT.— 
(1) IN
GENERAL.—Not later than 180 days 
after the date of enactment of this Act, the Comp-
troller General of the United States shall submit to 
the appropriate committees of Congress a report on 
the study conducted under subsection (a). 
(2) CONTENTS.—The report submitted under 
paragraph (1) shall— 
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(A) provide a quantitative and qualitative 
assessment of— 
(i) what measures, if any, are being 
taken to inform Reservists of the obliga-
tions and responsibilities of such members 
to their employers; 
(ii) how effective such measures have 
been; and 
(iii) whether there are additional 
measures that could be taken to promote 
positive working relations between Reserv-
ists and their employers, including any 
steps that could be taken to ensure that 
employers are timely notified of a call to 
active duty; and 
(B) assess whether there has been a reduc-
tion in the hiring of Reservists by business con-
cerns because of— 
(i) any increase in the use of Reserv-
ists after September 11, 2001; or 
(ii) any change in any policy of the 
Department of Defense relating to Reserv-
ists after September 11, 2001. 
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(c) APPROPRIATE COMMITTEES OF CONGRESS DE-
FINED.—In this section, the term ‘‘appropriate commit-
tees of Congress’’ means— 
(1) the Committee on Armed Services and the 
Committee on Small Business and Entrepreneurship 
of the Senate; and 
(2) the Committee on Armed Services and the 
Committee on Small Business of the House of Rep-
resentatives. 
SEC. 308. INCREASED VETERAN PARTICIPATION PROGRAM. 
(a) IN GENERAL.—Section 7(a) of the Small Busi-
ness Act (15 U.S.C. 636(a)) is amended by adding at the 
end the following: 
‘‘(32) INCREASED
VETERAN
PARTICIPATION 
PROGRAM.—The Administrator shall carry out an 
Increased Veteran Participation Program. For a 
loan made under this paragraph, the following shall 
apply: 
‘‘(A) The loan shall be made to a business 
concern the majority ownership interest of 
which is directly held by individuals who are 
veterans of the Armed Forces or members of 
the reserve components of the Armed Forces. 
‘‘(B) The loan shall include the participa-
tion by the Administration equal to 90 percent 
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of the balance of the financing outstanding at 
the time of disbursement. 
‘‘(C) The fees on the loan under para-
graphs (18) and (23) shall not apply.’’. 
(b) NOTICE AND COMMENT.—The program required 
by section 7(a)(32) of the Small Business Act, as added 
by subsection (a), shall be established after the oppor-
tunity for notice and comment and not later than 180 days 
after the date of the enactment of this Act. 
Passed the House of Representatives December 6, 
2007. 
Attest: 
LORRAINE C. MILLER, 
Clerk. 
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