I 
113TH CONGRESS 
2D SESSION 
H. R. 4556 
To help small businesses access capital and create jobs by reauthorizing 
the successful State Small Business Credit Initiative. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 1, 2014 
Mr. PETERS of Michigan (for himself, Mr. LEVIN, Ms. WATERS, Mr. CON-
YERS, Mr. DINGELL, and Mr. KILDEE) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To help small businesses access capital and create jobs by 
reauthorizing the successful State Small Business Credit 
Initiative. 
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 ‘‘Small Business Access 
to Capital Act of 2014’’. 
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SEC. 2. NEW TRANCHES OF CAPITAL FOR SUCCESSFUL 
STATE PROGRAMS. 
Section 3003 of the Small Business Jobs Act of 2010 
(12 U.S.C. 5702) is amended by adding at the end the 
following: 
‘‘(d) ADDITIONAL ALLOCATION AND COMPETITIVE 
AWARDS.— 
‘‘(1) DEFINITIONS.—In this subsection— 
‘‘(A) the term ‘eligible participating State’ 
means a participating State that has certified 
to the Secretary that the State has expended, 
transferred, or obligated not less than 80 per-
cent of the second 1⁄3 of the 2010 allocation 
transferred to the State under subsection 
(c)(1)(A)(iii); and 
‘‘(B) the term ‘unused funds’ means— 
‘‘(i) amounts made available to the 
Secretary under clause (i)(II) or (ii)(II) of 
paragraph (2)(E); and 
‘‘(ii) amounts made available to the 
Secretary under paragraph (4)(B)(ii). 
‘‘(2) ALLOCATION
FOR
2010
PARTICIPATING 
STATES.— 
‘‘(A) ALLOCATION.—Of the amount made 
available under paragraph (6)(D), the Secretary 
shall allocate a total of $500,000,000 among el-
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igible participating States in the same ratio as 
funds were allocated under the 2010 allocation 
under subsection (b)(1) among participating 
States. 
‘‘(B) APPLICATION.—An eligible partici-
pating State desiring to receive funds allocated 
under this paragraph shall submit an applica-
tion— 
‘‘(i) not later than the later of— 
‘‘(I) June 30, 2015; or 
‘‘(II) the date that is 6 months 
after the date of enactment of the 
Small Business Access to Capital Act 
of 2014; and 
‘‘(ii) in such manner and containing 
such information as the Secretary may re-
quire. 
‘‘(C) 
AVAILABILITY
OF
ALLOCATED 
AMOUNT.—Notwithstanding subsection (c)(1), 
after an eligible participating State approved by 
the Secretary to receive an allocation under this 
paragraph has certified to the Secretary that 
the eligible participating State has expended, 
transferred, or obligated not less than 80 per-
cent of the last 1⁄3 of the 2010 allocation to the 
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eligible participating State, the Secretary shall 
transfer to the eligible participating State the 
funds allocated to the eligible participating 
State under this paragraph. 
‘‘(D) USE OF TRANSFERRED FUNDS.—An 
eligible participating State may use funds 
transferred under this paragraph for any pur-
pose authorized under subparagraph (A) or (B) 
of subsection (c)(3). 
‘‘(E) TERMINATION OF AVAILABILITY OF 
AMOUNTS.— 
‘‘(i) IN GENERAL.—If an eligible par-
ticipating State has not certified to the 
Secretary that the State has expended, 
transferred, or obligated not less than 80 
percent of the last 1⁄3 of the 2010 alloca-
tion as of the date that is 2 years after the 
date on which the Secretary approves the 
eligible participating State to receive an al-
location 
under 
this 
paragraph, 
any 
amounts allocated to the eligible partici-
pating State under this paragraph— 
‘‘(I) may not be transferred to 
the eligible participating State under 
this paragraph; and 
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‘‘(II) shall be available to the 
Secretary to make awards under para-
graph (4). 
‘‘(ii) OTHER AMOUNTS.—Effective on 
the date that is 2 years after the date of 
enactment of the Small Business Access to 
Capital Act of 2014, any amounts allo-
cated under this paragraph to a partici-
pating State that, as of such date, is not 
an eligible participating State or to an eli-
gible participating State that did not sub-
mit an application under subparagraph (B) 
or was not approved by the Secretary to 
receive an allocation under this para-
graph— 
‘‘(I) may not be transferred to an 
eligible participating State under this 
paragraph; and 
‘‘(II) shall be available to the 
Secretary to make awards under para-
graph (4). 
‘‘(3) COMPETITIVE FUNDING.— 
‘‘(A) IN GENERAL.—Of the amount made 
available under paragraph (6)(D), the Secretary 
may award, on a competitive basis, not more 
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than a total of $1,000,000,000 to participating 
States and consortiums of participating States 
for use for any purpose authorized under sub-
paragraph (A) or (B) of subsection (c)(3). 
‘‘(B) APPLICATION.— 
‘‘(i) IN
GENERAL.—A participating 
State or consortium of participating States 
desiring to receive an award under this 
paragraph shall submit an application— 
‘‘(I) not later than the date es-
tablished by the Secretary, which shall 
be not later than the date that is 1 
year after the date of enactment of 
the Small Business Access to Capital 
Act of 2014; and 
‘‘(II) in such manner and con-
taining such information as the Sec-
retary may require. 
‘‘(ii) NUMBER OF APPLICATIONS.—A 
participating State may submit not more 
than 1 application on behalf of the partici-
pating State and not more than 1 applica-
tion as part of a consortium of partici-
pating States. 
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‘‘(iii) STATES THAT DID NOT PARTICI-
PATE.—A State that is not a participating 
State may apply to the Secretary for ap-
proval to be a participating State for pur-
poses of this paragraph and paragraph (4), 
in accordance with section 3004. 
‘‘(C) FACTORS.—In determining whether 
to make an award to a participating State or 
consortium of participating States under this 
paragraph, the Secretary shall consider— 
‘‘(i) how the participating State or 
consortium of participating States plan to 
use amounts provided under the award 
under the approved State program to— 
‘‘(I) leverage private sector cap-
ital; 
‘‘(II) create and retain jobs dur-
ing the 2-year period beginning on the 
date of the award; 
‘‘(III) serve businesses that have 
been incorporated or in operation for 
not more than 5 years; and 
‘‘(IV) serve low-or-moderate-in-
come communities; 
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‘‘(ii) the extent to which the partici-
pating State or consortium of participating 
States will establish or continue a robust 
self-evaluation of the activities of the par-
ticipating State or consortium of partici-
pating States using amounts made avail-
able under this title; 
‘‘(iii) the extent to which the partici-
pating State or consortium of participating 
States will provide non-Federal funds in 
excess of the amount required under sub-
paragraph (E); and 
‘‘(iv) the extent to which the partici-
pating State expended, obligated, or trans-
ferred the 2010 allocation to the State. 
‘‘(D) AWARD OF FUNDS.— 
‘‘(i) 
FIRST
TRANCHE.—Notwith-
standing subsection (c)(1), and not later 
than 30 days after making an award under 
this paragraph to a participating State or 
consortium of participating States, the 
Secretary shall transfer 50 percent of the 
amount of the award to the participating 
State 
or 
consortium 
of 
participating 
States. 
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‘‘(ii) SECOND TRANCHE.—After a par-
ticipating State or consortium of partici-
pating States has certified to the Secretary 
that the participating State or consortium 
of participating States has expended, 
transferred, or obligated not less than 80 
percent of the amount transferred under 
clause (i), the Secretary shall transfer to 
the participating State or consortium of 
participating States the remaining amount 
of the award. 
‘‘(E) STATE SHARE.—The State share of 
the cost of the activities, excluding administra-
tive expenses, carried out using an award under 
this paragraph shall be not less than 10 per-
cent. The Secretary may determine what con-
tributions by a State qualify as part of the 
State share of the cost for purposes of this sub-
paragraph. 
‘‘(4) AWARD OF UNUSED FUNDS.— 
‘‘(A) IN
GENERAL.—The Secretary may 
award, on a competitive basis, unused funds to 
participating States for use for any purpose au-
thorized under subparagraph (A) or (B) of sub-
section (c)(3). 
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