Veteran Small Business Export Promotion Act

Bill: 115-s-1056
Sponsor: full_name: Sen. Hirono, Mazie K. [D-HI]
Introduced: 2017-05-04
Policy area: Commerce
Subjects: Competitiveness, trade promotion, trade deficits

Government lending and loan guarantees

Small business

User charges and fees

Veterans' education, employment, rehabilitation

Veterans' loans, housing, homeless programs
Latest action: action_date: 2017-05-04
text: Read twice and referred to the Committee on Small Business and Entrepreneurship.

Summaries:
action_date: 2017-05-04
action_desc: Introduced in Senate
text: <p><b>Veteran Small Business Export Promotion Act</b></p> <p>This bill amends the Small Business Act to prohibit the Small Business Administration (SBA) from assessing a guarantee fee in connection with a loan made to a veteran or spouse of a veteran beginning the first fiscal year after enactment of this bill under the SBA's Export Working Capital, International Trade, or Export Express programs.</p> <p>If the President's budget for the upcoming fiscal year includes a cost for such a program that is above zero, this prohibition shall not apply to loans made during such upcoming fiscal year.</p>

tv_txt: II 115th CONGRESS 1st Session S. 1056 IN THE SENATE OF THE UNITED STATES May 4, 2017 Ms. Hirono (for herself and Mr. Rounds ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To amend the Small Business Act to waive the guarantee fee for veterans and spouses of veterans for the Export Working Capital, International Trade, and Export Express programs.

1. Short title This Act may be cited as the Veteran Small Business Export Promotion Act . 2. Permanent loan guarantee fee waivers for veterans Section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) is amended— (1) in paragraph (14)(B)(ii), by adding at the end the following: (III) Guarantee fee waiver for veterans (aa) Definition In this subclause, the term veteran or spouse of a veteran has the meaning given the term in paragraph (31)(G)(iii). (bb) Guarantee fee waiver The Administrator may not collect a guarantee fee described in paragraph (18) in connection with a loan made under this paragraph to a veteran or spouse of a veteran on or after October 1 of the first fiscal year beginning after the date of enactment of this subclause. (cc) Exception If the President’s budget for the upcoming fiscal year, submitted to Congress pursuant to section 1105(a) of title 31, United States Code, includes a cost for the program established under this subsection that is above zero, the requirements of item (bb) shall not apply to loans made during such upcoming fiscal year. ; (2) in paragraph (16), by adding at the end the following: (G) Guarantee fee waiver for veterans (i) Definition In this subparagraph, the term veteran or spouse of a veteran has the meaning given the term in paragraph (31)(G)(iii). (ii) Guarantee fee waiver The Administrator may not collect a guarantee fee described in paragraph (18) in connection with a loan made under this paragraph to a veteran or spouse of a veteran on or after October 1 of the first fiscal year beginning after the date of enactment of this subparagraph. (iii) Exception If the President’s budget for the upcoming fiscal year, submitted to Congress pursuant to section 1105(a) of title 31, United States Code, includes a cost for the program established under this subsection that is above zero, the requirements of clause (ii) shall not apply to loans made during such upcoming fiscal year. ; and (3) in paragraph (34), by adding at the end the following: (D) Guarantee fee waiver for veterans (i) Definition In this subparagraph, the term veteran or spouse of a veteran has the meaning given the term in paragraph (31)(G)(iii). (ii) Guarantee fee waiver The Administrator may not collect a guarantee fee described in paragraph (18) in connection with an express loan made under this paragraph to a veteran or spouse of a veteran on or after October 1 of the first fiscal year beginning after the date of enactment of this subparagraph. (iii) Exception If the President’s budget for the upcoming fiscal year, submitted to Congress pursuant to section 1105(a) of title 31, United States Code, includes a cost for the program established under this subsection that is above zero, the requirements of clause (ii) shall not apply to express loans made during such upcoming fiscal year. .