A bill to establish the National Women's High-Growth Business Bipartisan Task Force, and for other purposes.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Women's High-Growth 
Business Bipartisan Task Force Act of 2012''.

SEC. 2. DEFINITIONS.

    In this Act--
            (1) the terms ``Administration'' and ``Administrator'' mean 
        the Small Business Administration and the Administrator 
        thereof, respectively;
            (2) the term ``Task Force'' means the National Women's 
        High-Growth Business Bipartisan Task Force established under 
        section 3; and
            (3) the term ``small business concern owned and controlled 
        by women'' has the meaning given that term in section 3(n) of 
        the Small Business Act (15 U.S.C. 632(n)).

SEC. 3. NATIONAL WOMEN'S HIGH-GROWTH BUSINESS BIPARTISAN TASK FORCE.

    (a) Establishment.--There is established the National Women's High-
Growth Business Bipartisan Task Force, which shall serve as an 
independent source of advice, research, and policy recommendations to--
            (1) the Administrator;
            (2) the Assistant Administrator of the Office of Women's 
        Business Ownership of the Administration;
            (3) Congress;
            (4) the President; and
            (5) other Federal departments and agencies.
    (b) Membership.--
            (1) Number of members.--The Task Force shall be composed of 
        15 members, of which--
                    (A) 8 shall be individuals who own small business 
                concerns owned and controlled by women, including not 
                fewer than 2 individuals who own small business 
                concerns owned and controlled by women in industries in 
                which women are traditionally underrepresented;
                    (B) 2 shall be individuals having expertise 
                conducting research on women's business, women's 
                entrepreneurship, new business development by women, 
                and high-growth business development; and
                    (C) 5 shall be individuals who represent women's 
                business organizations, including women's business 
                centers and women's business advocacy groups.
            (2) Appointment of members.--
                    (A) Owners of small business concerns owned and 
                controlled by women.--Of the members of the Task Force 
                described in paragraph (1)(A)--
                            (i) 2 shall be appointed by the Chairperson 
                        of the Committee on Small Business and 
                        Entrepreneurship of the Senate;
                            (ii) 2 shall be appointed by the Ranking 
                        Member of the Committee on Small Business and 
                        Entrepreneurship of the Senate;
                            (iii) 2 shall be appointed by the 
                        Chairperson of the Committee on Small Business 
                        of the House of Representatives; and
                            (iv) 2 shall be appointed by the Ranking 
                        Member of the Committee on Small Business of 
                        the House of Representatives.
                    (B) Other members.--The members of the Task Force 
                described in subparagraphs (B) and (C) of paragraph (1) 
                shall be appointed by the Administrator.
                    (C) Initial appointments.--The individuals 
                described in subparagraphs (A) and (B) shall appoint 
                the initial members of the Task Force not later than 90 
                days after the date of enactment of this Act.
                    (D) Geographic considerations.--In making an 
                appointment under this paragraph, the individuals 
                described in subparagraphs (A) and (B) shall give 
                consideration to the geographic areas of the United 
                States in which the members of the Task Force live and 
                work, particularly to ensure that rural areas are 
                represented on the Task Force.
                    (E) Political affiliation.--Not more than 8 members 
                of the Task Force may be members of the same political 
                party.
            (3) Chairperson.--
                    (A) Election of chairperson.--The members of the 
                Task Force shall elect 1 member of the Task Force as 
                Chairperson of the Task Force.
                    (B) Vacancies.--Any vacancy in the position of 
                Chairperson of the Task Force shall be filled by the 
                Task Force at the first meeting of the Task Force after 
                the date on which the vacancy occurs.
            (4) Term of service.--
                    (A) In general.--Except as provided in subparagraph 
                (B), the term of service of each member of the Task 
                Force shall be 3 years.
                    (B) Terms of initial appointees.--Of the members of 
                the Task Force first appointed after the date of 
                enactment of this Act--
                            (i) 6 shall be appointed for a term of 4 
                        years, including--
                                    (I) 1 member appointed by the 
                                individuals described in each of 
                                clauses (i), (ii), (iii), and (iv) of 
                                paragraph (2)(A); and
                                    (II) 2 members appointed by the 
                                Administrator; and
                            (ii) 5 shall be appointed for a term of 5 
                        years, including--
                                    (I) 1 member appointed by the 
                                individuals described in each of 
                                clauses (i), (ii), (iii), and (iv) of 
                                paragraph (2)(A); and
                                    (II) 1 member appointed by the 
                                Administrator.
            (5) Vacancies.--A vacancy on the Task Force shall be filled 
        not later than 30 days after the date on which the vacancy 
        occurs, in the manner in which the original appointment was 
        made, and shall be subject to any conditions that applied to 
        the original appointment. An individual chosen to fill a 
        vacancy shall be appointed for the unexpired term of the member 
        replaced.
            (6) Prohibition on federal employment.--
                    (A) In general.--Except as provided in subparagraph 
                (B), no member of the Task Force may serve as an 
                officer or employee of the United States.
                    (B) Exception.--A member of the Task Force who 
                accepts a position as an officer or employee of the 
                United States after appointment to the Task Force may 
                continue to serve on the Task Force for not more than 
                30 days after the date of such acceptance.
            (7) Compensation and expenses.--
                    (A) No compensation.--Each member of the Task Force 
                shall serve without compensation.
                    (B) Expenses.--The Administrator shall reimburse 
                the members of the Task Force for travel and 
                subsistence expenses in accordance with section 5703 of 
                title 5, United States Code.
    (c) Duties.--The Task Force shall--
            (1) review and monitor plans and programs developed in the 
        public and private sectors that affect the ability of small 
        business concerns owned and controlled by women to obtain 
        capital and credit and to access markets, and provide advice on 
        improving coordination between such plans and programs;
            (2) monitor and promote the plans, programs, and operations 
        of the Federal departments and agencies that contribute to the 
        formation and development of small business concerns owned and 
        controlled by women, and make recommendations to Federal 
        departments and agencies concerning the coordination of such 
        plans, programs, and operations;
            (3) develop and promote initiatives, policies, programs, 
        and plans designed to encourage the formation of startups and 
        high-growth small business concerns owned and controlled by 
        women;
            (4) advise the Administrator on the development and 
        implementation of an annual comprehensive plan for joint 
        efforts by the public and private sectors to facilitate the 
        formation and development of startups and high-growth small 
        business concerns owned and controlled by women; and
            (5) examine the link between women who own small business 
        concerns and intellectual property, including--
                    (A) the number of patents, trademarks, and 
                copyrights granted to women; and
                    (B) the challenges faced by high-growth small 
                business concerns owned and controlled by women in 
                obtaining and enforcing intellectual property rights.
    (d) Powers.--
            (1) Hearings.--The Task Force may hold such hearings, sit 
        and act at such times and places, take such testimony, and 
        receive such evidence as the Task Force considers advisable to 
        carry out its duties.
            (2) Task groups.--The Task Force may, from time to time, 
        establish temporary task groups, as necessary to carry out the 
        duties of the Task Force.
            (3) Information from federal agencies.--Upon request of the 
        Chairperson of the Task Force, the head of any Federal 
        department or agency shall furnish such information to the Task 
        Force as the Task Force considers necessary to carry out its 
        duties.
            (4) Use of mails.--The Task Force may use the United States 
        mails in the same manner and under the same conditions as 
        Federal departments and agencies.
            (5) Gifts.--The Task Force may accept, use, and dispose of 
        gifts or donations of services or property.
    (e) Meetings.--
            (1) In general.--The Task Force shall meet--
                    (A) not less than 3 times each year;
                    (B) at the call of the Chairperson; and
                    (C) upon the request of--
                            (i) the Administrator;
                            (ii) the Chairperson and Ranking Member of 
                        the Committee on Small Business and 
                        Entrepreneurship of the Senate; or
                            (iii) the Chairperson and Ranking Member of 
                        the Committee on Small Business of the House of 
                        Representatives.
            (2) Participation of federal agencies.--
                    (A) Participation encouraged.--The Task Force shall 
                allow and encourage participation in meetings by 
                representatives from Federal agencies.
                    (B) Functions of representatives of federal 
                agencies.--A representative from a Federal agency--
                            (i) may be used as a resource; and
                            (ii) may not vote or otherwise act as a 
                        member of the Task Force.
            (3) Location.--Each meeting of the full Task Force shall be 
        held at the headquarters of the Administration, unless, not 
        later than 1 month before the meeting, a majority of the 
        members of the Task Force agree to meet at another location.
            (4) Support by administrator.--The Administrator shall 
        provide suitable meeting facilities and such administrative 
        support as may be necessary for each full meeting of the Task 
        Force.
    (f) Reports.--
            (1) Reports by task force.--
                    (A) Reports required.--Not later than 30 days after 
                the end of each fiscal year, the Task Force shall 
                submit to the President and to the Committee on Small 
                Business and Entrepreneurship of the Senate and the 
                Committee on Small Business of the House of 
                Representatives, a report containing--
                            (i) a detailed description of the 
                        activities of the Task Force, including a 
                        report on how the Task Force has carried out 
                        the duties described in subsection (c);
                            (ii) the findings and recommendations of 
                        the Task Force; and
                            (iii) the recommendations of the Task Force 
                        for--
                                    (I) promoting intellectual property 
                                rights for high-growth small business 
                                concerns owned and controlled by women; 
                                and
                                    (II) such legislative and 
                                administrative actions as the Task 
                                Force considers appropriate to promote 
                                the formation and development of small 
                                business concerns owned and controlled 
                                by women.
                    (B) Form of reports.--The report required under 
                subparagraph (A) shall include--
                            (i) any concurring or dissenting views of 
                        the Administrator; and
                            (ii) the minutes of each meeting of the 
                        Task Force.
            (2) Reports by chief counsel for advocacy.--
                    (A) Studies.--
                            (i) In general.--Not less frequently than 
                        twice each year, the Chief Counsel for Advocacy 
                        of the Small Business Administration, in 
                        consultation with the Task Force, shall conduct 
                        a study of an issue that is important to small 
                        business concerns owned and controlled by 
                        women.
                            (ii) Topics.--The topic of a study under 
                        clause (i) shall--
                                    (I) be an issue that the Task Force 
                                determines is critical to furthering 
                                the interests of small business 
                                concerns owned and controlled by women; 
                                and
                                    (II) relate to--
                                            (aa) Federal prime 
                                        contracts and subcontracts 
                                        awarded to small business 
                                        concerns owned and controlled 
                                        by women;
                                            (bb) access to credit and 
                                        investment capital by women 
                                        entrepreneurs;
                                            (cc) acquiring and 
                                        enforcing intellectual property 
                                        rights; or
                                            (dd) any other issue 
                                        relating to small business 
                                        concerns owned and controlled 
                                        by women that the Task Force 
                                        determines is appropriate.
                            (iii) Contracting.--In conducting a study 
                        under this subparagraph, the Chief Counsel may 
                        contract with a public or private entity.
                    (B) Report.--The Chief Counsel for Advocacy shall--
                            (i) submit a report containing the results 
                        of each study under subparagraph (A) to the 
                        Task Force, the Committee on Small Business and 
                        Entrepreneurship of the Senate, and the 
                        Committee on Small Business of the House of 
                        Representatives; and
                            (ii) make each report submitted under 
                        clause (i) available to the public online.
    (g) Federal Advisory Committee Act.--Section 14 of the Federal 
Advisory Committee Act (5 U.S.C. App.) shall not apply to the Task 
Force.

SEC. 4. REPEAL.

    (a) Final Reports.--Not later than 90 days after the date of 
enactment of this Act--
            (1) the Interagency Committee on Women's Business 
        Enterprise shall submit to the President and the Committee on 
        Small Business and Entrepreneurship of the Senate and the 
        Committee on Small Business of the House of Representatives a 
        report containing the information described in paragraphs (1), 
        (2), and (3) of section 404 of the Women's Business Ownership 
        Act of 1988 (15 U.S.C. 7104), as in effect on the day before 
        the date of enactment of this Act; and
            (2) the National Women's Business Council shall submit to 
        the President and the Committee on Small Business and 
        Entrepreneurship of the Senate and the Committee on Small 
        Business of the House of Representatives a report containing 
        the information described in subparagraphs (A), (B), and (C) of 
        section 406(d)(6) of the Women's Business Ownership Act of 1988 
        (15 U.S.C. 7106), as in effect on the day before the date of 
        enactment of this Act.
    (b) Repeal.--The Women's Business Ownership Act of 1988 (15 U.S.C. 
631 note) is amended by striking title IV (15 U.S.C. 7101 et seq.).
    (c) Technical and Conforming Amendments.--The Small Business Act 
(15 U.S.C. 631 et seq.) is amended--
            (1) in section 8(b)(1)(G) (15 U.S.C. 637(b)(1)(G)), by 
        striking ``and to carry out the activities authorized by title 
        IV of the Women's Business Ownership Act of 1988''; and
            (2) in section 29(g) (15 U.S.C. 656(g))--
                    (A) in paragraph (1), by striking ``women's 
                business enterprises (as defined in section 408 of the 
                Women's Business Ownership Act of 1988 (15 U.S.C. 631 
                note))'' and inserting ``small business concerns owned 
                and controlled by women''; and
                    (B) in paragraph (2)(B)(ii)--
                            (i) in subclause (VI), by adding ``and'' at 
                        the end;
                            (ii) in subclause (VII), by striking the 
                        semicolon at the end and inserting a period; 
                        and
                            (iii) by striking subclauses (VIII), (IX), 
                        and (X).
    (d) Effective Date.--The amendments made by subsections (b) and (c) 
shall take effect 90 days after the date of enactment of this Act.

Summary: National Women's High-Growth Business Bipartisan Task Force Act of 2012 - Establishes the National Women's High-Growth Business Bipartisan Task Force to provide women-owned, start-up and high-growth business advice, research, and policy recommendations to the Administrator of the Small Business Administration (SBA), the Assistant Administrator of the SBA's Office of Women's Business Ownership, Congress, the President, and other federal departments and agencies.

Directs the Task Force, among other things, to review, monitor, and advise on plans and programs developed in the public and private sectors that affect the ability of small businesses owned and controlled by women to obtain capital and credit and to access markets. Requires the Task Force to report annually to the President and the congressional small business committees on the activities of the Task Force.

Directs the SBA's Chief Counsel to: (1) semiannually conduct a study of an issue of importance to small businesses owned and controlled by women, and (2) submit each study's results to the Task Force and the small business committees.

Amends the Women's Business Ownership Act of 1988 to repeal provisions establishing the Interagency Committee on Women's Business Enterprise.