Community Lending and Small Business Jobs Act of 2013

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Community Lending and Small Business 
Jobs Act of 2013''.

               TITLE I--SMALL BUSINESS LEG-UP ACT OF 2013

SEC. 101. SHORT TITLE.

    This title may be cited as the ``Small Business Lending to 
Entrepreneurs for Growth in Underserved Populations Act of 2013'' or 
the ``Small Business Leg-Up Act of 2013''.

SEC. 102. FINDINGS.

    The Congress finds the following:
            (1) Families and small businesses in under-served areas 
        have for generations been unable to access affordable credit.
            (2) The financial crisis of 2008 only served to exacerbate 
        efforts by entrepreneurs to access capital for the purpose of 
        creating jobs and improving economic outcomes in the community.
            (3) Small business investments revitalize communities by 
        creating jobs but also contributing to the local tax base, 
        which helps finance investments in schools, hospitals, 
        infrastructure, and public safety.
            (4) The Community Development Financial Institutions Fund 
        is well placed to make careful, targeted investments in 
        community development financial institutions for the purposes 
        of improving economic outcomes for underserved families across 
        America.
            (5) Providing the Community Development Financial 
        Institutions Fund with a robust capital infusion will make 
        efficient use of taxpayer dollars, by leveraging Federal 
        investment for the purpose of small business lending.

SEC. 103. TRANSFER OF FUNDS FROM SMALL BUSINESS LENDING FUND TO THE 
              CDFI FUND.

    (a) Unobligated Funds.--On the date of the expiration of the 
investment authority described under section 4109(a) of the Small 
Business Jobs Act of 2010, the Secretary shall transfer all unobligated 
funds in the Small Business Lending Fund to the Community Development 
Financial Institutions Fund.
    (b) Proceeds.--Section 4103(b)(3) of the Small Business Jobs Act of 
2010 is amended to read as follows:
            ``(3) Proceeds transferred to cdfi fund.--All funds 
        received by the Secretary in connection with purchases made 
        pursuant to paragraph (1), including principal, interest 
        payments, dividend payments, and proceeds from the sale of any 
        financial instrument, shall be transferred to the Community 
        Development Financial Institutions Fund.''.

SEC. 104. SMALL BUSINESS CAPITAL INVESTMENT PROGRAM.

    (a) In General.--The Riegle Community Development and Regulatory 
Improvement Act of 1994 is amended by inserting after section 108 the 
following:

``SEC. 108A. SMALL BUSINESS CAPITAL INVESTMENT PROGRAM TO INCREASE 
              CREDIT AVAILABILITY FOR SMALL BUSINESSES.

    ``(a) Small Business Revolving Loan Program.--
            ``(1) In general.--Using amounts described under subsection 
        (b), the Administrator shall carry out a Small Business Capital 
        Investment Program (`Program') to make capital investments in 
        eligible community development financial institutions in order 
        to increase the availability of credit for small businesses.
            ``(2) Structure of the program.--To the extent practicable, 
        the Administrator shall carry out the Program in the same 
        manner as the Small Business Lending Fund Program authorized 
        under section 4103(a)(2) of the Small Business Jobs Act of 
        2010, except that--
                    ``(A) all funds received by the Administrator in 
                connection with purchases made under the Program, 
                including principal, interest payments, dividend 
                payments, and proceeds from the sale of any financial 
                instrument, shall be deposited into the Fund;
                    ``(B) eligible community development financial 
                institutions may apply to receive a capital investment 
                from the Fund in an amount not exceeding 10 percent of 
                total assets, or such other percentage as the 
                Administrator determines to be appropriate; and
                    ``(C) the authority to make capital investments in 
                eligible community development financial institutions 
                shall continue so long as amounts described under 
                subsection (b) are available to make such investments.
    ``(b) Funding.--
            ``(1) In general.--Notwithstanding any other provision of 
        this Act, amounts deposited into the Fund pursuant to section 
        4(a) of the Small Business Leg-Up Act of 2013, section 
        4103(b)(3) of the Small Business Jobs Act of 2010, or 
        subsection (a)(2)(A) shall only be available to carry out the 
        Program established under subsection (a).
            ``(2) Administration costs.--Interest payments received 
        under subsection (a)(2)(A) may be used to pay for the 
        administrative costs of carrying out the Program.
            ``(3) Authorization of appropriations.--There is authorized 
        to be appropriated to the Administrator $4,000,000 to carry out 
        the Program.
    ``(c) Rulemaking.--The Administrator may issue such regulations as 
the Administrator determines to be appropriate to carry out this 
section.
    ``(d) Eligible Community Development Financial Institution 
Defined.--For purposes of this section, the term `eligible community 
development financial institution' means a community development 
financial institution with assets of $10,000,000,000 or less, as 
reported in audited financial statements.''.
    (b) Technical Amendment.--The table of contents for the Riegle 
Community Development and Regulatory Improvement Act of 1994 is amended 
by inserting after the item relating to section 108 the following new 
item:

``Sec. 108A. Small Business Capital Investment Program to increase 
                            credit availability for small 
                            businesses.''.

TITLE II--MICROENTERPRISE AND YOUTH ENTREPRENEURSHIP DEVELOPMENT ACT OF 
                                  2013

SEC. 201. SHORT TITLE.

    This title may be cited as the ``Microenterprise and Youth 
Entrepreneurship Development Act of 2013''.

SEC. 202. MICROENTERPRISE TECHNICAL ASSISTANCE AND CAPACITY BUILDING 
              PROGRAM.

    (a) Definitions.--Section 172(5) of the Riegle Community 
Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6901(5)) 
is amended--
            (1) in subparagraph (B) by striking ``or'' at the end;
            (2) in subparagraph (C) by striking the period at the end 
        and inserting ``; or''; and
            (3) by adding at the end the following:
                    ``(D) an entrepreneur that operates a business or 
                intends to operate a business in an investment area (as 
                such term is defined in section 103(16) of this 
                Act).''.
    (b) Uses of Assistance.--Section 174 of the Riegle Community 
Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6903) is 
amended--
            (1) in paragraph (3) by striking ``and'' at the end;
            (2) by redesignating paragraph (4) as paragraph (5); and
            (3) by inserting after paragraph (3) the following:
            ``(4) to advertise in print, electronic, and other media 
        the training and technical assistance provided under paragraph 
        (1); and''.
    (c) Targeted Assistance.--Section 176(b) of the Riegle Community 
Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6905(b)) 
is amended by striking ``50 percent'' and inserting ``60 percent''.
    (d) Matching Requirements.--Section 177(c) of the Riegle Community 
Development and Regulatory Improvement Act of 1994 (15 U.S.C. 6906(c)) 
is amended by adding at the end the following:
            ``(3) Consideration.--In determining whether to reduce or 
        eliminate matching requirements under paragraph (1), the 
        Administrator shall consider the impact of the economic crisis 
        of 2007 through 2009 on the geographic area in which an 
        applicant operates.''.
    (e) Report.--Not later than 180 days after the date of enactment of 
this Act, the Administrator of the Small Business Administration shall 
submit to the Committee on Small Business of the House of 
Representatives and the Committee on Small Business and 
Entrepreneurship of the Senate a report describing recommendations for 
improving the application and grant making process of the 
microenterprise technical assistance and capacity building grant 
program (carried out under subtitle C of title I of the Riegle 
Community Development and Regulatory Improvement Act of 1994), 
including recommendations, developed in consultation with stakeholders, 
for streamlining the application and grant making process of that 
program.
    (f) Microenterprise Coordinator.--
            (1) Establishment.--Not later than 1 year after the date of 
        enactment of this Act, the Administrator shall establish in the 
        Small Business Administration the position of Microenterprise 
        Coordinator.
            (2) Duties.--The Microenterprise Coordinator shall--
                    (A) work to ensure that the contributions of 
                microenterprises to the economy are maximized;
                    (B) work to enhance, support, and coordinate the 
                programs of the Federal Government providing assistance 
                to microenterprises, including Federal technical 
                assistance programs;
                    (C) work to ensure that underserved entrepreneurs 
                are included in the programs of the Federal Government 
                providing assistance to microenterprises;
                    (D) make available to the public annually a 
                comprehensive list and description of each Federal 
                program that provides assistance to microenterprises; 
                and
                    (E) encourage public-private partnerships that 
                support entrepreneurship.
            (3) Microenterprise defined.--In this subsection, the term 
        ``microenterprise'' has the meaning given that term in section 
        172(10) of the Riegle Community Development and Regulatory 
        Improvement Act of 1994 (15 U.S.C. 6901(10)).

SEC. 203. OFFICE OF YOUTH ENTREPRENEURSHIP.

    (a) Establishment.--Not later than 1 year after the date of 
enactment of this Act, the Administrator of the Small Business 
Administration shall establish an Office of Youth Entrepreneurship (in 
this section referred to as the ``Office'') in the Small Business 
Administration.
    (b) Director.--The Administrator shall appoint a Director of Youth 
Entrepreneurship (in this section referred to as the ``Director'') to 
serve as the head of the Office.
    (c) Duties.--The Director shall--
            (1) carry out the youth entrepreneurship technical 
        assistance grant program described in subsection (d);
            (2) carry out the youth entrepreneurship curriculum grant 
        program described in subsection (e);
            (3) promote the growth of youth entrepreneurship by 
        establishing public-private partnerships and carrying out 
        advertising campaigns;
            (4) sponsor and support State and national youth 
        entrepreneurship competitions that raise awareness of the 
        importance of small business development;
            (5) study and promote Federal activities that support 
        entrepreneurship education; and
            (6) support the establishment of public and private youth 
        entrepreneurship education and mentoring opportunities.
    (d) Youth Entrepreneurship Technical Assistance Grant Program.--The 
Director shall establish a program under which the Director may make 
grants to assist entities, including nonprofit microenterprise 
development organizations, to provide individuals under 25 years of age 
with technical assistance related to entrepreneurship.
    (e) Youth Entrepreneurship Curriculum Grant Program.--
            (1) In general.--The Director shall establish a program 
        under which the Director may make grants to a covered entity to 
        assist the development, improvement, or implementation of a 
        youth entrepreneurship curriculum that includes information on 
        the topics of--
                    (A) securing capital and borrowing;
                    (B) business plan conception and drafting;
                    (C) accounting;
                    (D) management; and
                    (E) marketing.
            (2) Application process.--To be eligible for a grant 
        described in paragraph (1), a covered entity shall submit to 
        the Director an application at such time, in such manner, and 
        containing such information as the Director may require, except 
        that the application shall include at least--
                    (A) a description of the curriculum to be 
                developed, improved, or implemented;
                    (B) a description of how grant funds will be used;
                    (C) a description of goals relating to the use of 
                grant funds and the curriculum to be developed, 
                improved, or implemented; and
                    (D) a description of how progress will be measured 
                with respect to the goals described in subparagraph 
                (C).
            (3) Covered entity defined.--In this subsection, the term 
        ``covered entity'' means a local educational agency in any of 
        the several States, the District of Columbia, or a territory or 
        possession of the United States and a local educational agency 
        of a federally recognized Indian tribe.
    (f) Investment Areas.--
            (1) In general.--The Director shall ensure that at least 25 
        percent of the amounts made available to carry out the Office 
        each fiscal year are used to assist youth in investment areas.
            (2) Investment area defined.--In this subsection, the term 
        ``investment area'' has the meaning given that term in section 
        103(16) of the Riegle Community Development and Regulatory 
        Improvement Act of 1994 (12 U.S.C. 4702(16)).
    (g) Student Loan Assistance.--Not later than 180 days after the 
date of enactment of this Act, the Director, in consultation with the 
Secretary of Education, shall submit to Congress a report that includes 
detailed recommendations for legislation--
            (1) establishing a program to forgive student loans in a 
        manner that assists youth entrepreneurship by making available 
        capital for business formation; and
            (2) establishing a program to defer student loan repayments 
        in a manner that assists youth entrepreneurship by making 
        available capital for business formation.

SEC. 204. GAO STUDY AND REPORT.

    (a) Study.--The Comptroller General of the United States shall 
conduct a study on--
            (1) the economic impact of allowing youth entrepreneurs to 
        defer student loan repayments to make available capital for 
        business formation;
            (2) the economic impact of increasing the participation of 
        individuals under 25 years of age in the microloan program of 
        the Small Business Administration (carried out under section 
        7(m) of the Small Business Act (15 U.S.C. 636(m)), 
        notwithstanding the limited collateral and formal business 
        experience of such individuals;
            (3) alternative methods for measuring creditworthiness that 
        may assist youth entrepreneurship; and
            (4) actions Congress should consider to promote youth 
        entrepreneurship.
    (b) Report.--Not later than 180 days after the date of enactment of 
this Act, the Comptroller General shall submit to the Committee on 
Small Business of the House of Representatives and the Committee on 
Small Business and Entrepreneurship of the Senate a report on the 
results of the study conducted under subsection (a).

Summary: Community Lending and Small Business Jobs Act of 2013 - Small Business Lending to Entrepreneurs for Growth in Underserved Populations Act of 2013 or the Small Business Leg-Up Act of 2013 - Requires, upon the expiration of investment authority for the Small Business Lending Fund Program provided in the Small Business Jobs Act of 2010, that all unobligated funds in the Small Business Lending Fund be transferred to the Community Development Financial Institutions (CDFI) Fund. Directs that all funds received in connection with certain purchases of preferred stock and other financial instruments pursuant to such authority be transferred to the CDFI Fund.   Amends the Riegle Community Development and Regulatory Improvement Act of 1994 to direct the Administrator of the CDFI Fund to carry out a Small Business Capital Investment (SBCI) Program (a small business revolving loan program) to continue making capital investments in eligible community development financial institutions in order to increase the availability of credit for small businesses. Requires that: (1) all funds the CDFI Fund Administrator receives in connection with SBCI Program purchases be deposited in the CDFI Fund, and (2) the authority to make such capital investments continue so long as specified funding amounts are available. Allows eligible community development financial institutions (with maximum assets of $10 billion as reported in audited financial statements) to apply to receive a capital investment of up to 10% of total assets, or another appropriate percentage determined by the CDFI Fund Administrator. Directs the CDFI Fund Administrator, to the extent practicable and except as otherwise provided, to carry out the SBCI Program in the same manner as the Small Business Lending Fund Program. Microenterprise and Youth Entrepreneurship Development Act of 2013 - Expands the definition of &quot;disadvantaged entrepreneur,&quot; for purposes of the microenterprise technical assistance and capacity building grant program, to include a microentrepreneur operating or intending to operate a business in an investment area.  Increases to 60% (currently, 50%) the minimum percentage of such grants required to be used to benefit very low-income persons, including those residing on Indian reservations.  Requires the Administrator of the Small Business Administration (SBA) to consider the impact of the 2007-2009 economic crisis on an applicant's geographic area when deciding whether to reduce or eliminate matching requirements for applicants with severe constraints on available funding sources.  Directs the SBA Administrator to establish an SBA Microenterprise Coordinator position.  Requires the SBA Administrator to establish an Office of Youth Entrepreneurship and appoint a Director to carry out: (1) the youth entrepreneur technical assistance grant program to make grants to assist entities, including nonprofit microenterprise development organizations, to provide individuals under 25 years of age with technical assistance related to entrepreneurship; and (2) the youth entrepreneurship curriculum grant program to make grants to applying local educational agencies of states and federally recognized Indian tribes.