SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Emergency Fuel 
Assistance Act of 2007''.

SEC. 2. EMERGENCY FUEL ASSISTANCE PROGRAM.

    There is established within the Economic Development Administration 
of the Department of Commerce, an emergency assistance program for 
small businesses and small farms dependent on fuel.

SEC. 3. PRESIDENTIAL DECLARATION OF ENERGY EMERGENCY.

    (a) In General.--If the President determines that the health, 
safety, welfare, or economic well-being of the citizens of the United 
States is at risk because of a shortage or imminent shortage of 
adequate supplies of crude oil, gasoline or petroleum distillates due 
to a disruption in the national distribution system for crude oil, 
gasoline or petroleum distillates (including such a shortage related to 
a major disaster (as defined in section 102(2) of the Robert T. 
Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 
5122(2)))), or significant pricing anomalies in national energy markets 
for crude oil, gasoline, or petroleum distillates, the President may 
declare that a Federal energy emergency exists.
    (b) Scope and Duration.--The emergency declaration declared 
pursuant to subsection (a) shall specify--
            (1) the period, not to exceed 30 days, for which the 
        declaration applies;
            (2) the circumstance or condition necessitating the 
        declaration;
            (3) the area or region to which it applies which may not be 
        limited to a single State; and
            (4) the product or products to which it applies.
    (c) Extensions.--The President may--
            (1) extend a declaration under subsection (a) for a period 
        of not more than 30 days;
            (2) extend such a declaration more than once; and
            (3) discontinue such a declaration before its expiration.

SEC. 4. AUTHORIZATION OF GRANTS.

    (a) In General.--During any energy emergency declared by the 
President under section 3, the Secretary of Commerce is authorized to 
award grants to States under a declaration of fuel supply interruption 
in accordance with this Act.
    (b) Allocation Formula.--Subject to subsection (c), the Secretary 
shall award grants to States, in accordance with an allocation formula 
established by the Secretary, that is based on the pro rata share of 
each State of the total need among all States, as applicable, for 
emergency assistance for fuel interruption, as determined on the basis 
of--
            (1) the number and percentage of qualifying small 
        businesses and small farms operating within a State;
            (2) the increase in price of fuel in a State; and
            (3) such other factors as the Secretary determines to be 
        appropriate.
    (c) State Allocation Plan.--Each State shall establish, after 
giving notice to the public, an opportunity for public comment, and 
consideration of public comments received, an allocation plan for the 
distribution of financial assistance under this section, which shall be 
submitted to the Secretary and shall be made available to the public by 
the State, and shall include--
            (1) application requirements for qualifying small 
        businesses and small farms seeking to receive financial 
        assistance under this section, including a requirement that 
        each application include--
                    (A) demonstration of need for assistance under this 
                section;
                    (B) a plan to decrease the total commercial energy 
                usage of the small business through energy efficiency 
                measures, such as those promoted through the Energy 
                Star Program; and
                    (C) if a small business or small farm has 
                previously received assistance under this section, 
                evidence that the small business or small farm has 
                implemented the plan previously documented under 
                subparagraph (B); and
            (2) factors for selecting among small businesses and small 
        farms that meet the application requirements, with preference 
        given to small businesses and small farms based on the 
        percentage of operating costs expended on fuel.

SEC. 5. ELIGIBILITY.

    A small business or small farm is eligible for a grant under this 
Act if--
     (a) the average gross receipts of the small business or small farm 
for the 3 preceding taxable years does not exceed $5,000,000; or
    (b) the small business or small farm employed an average of more 
than 1 and fewer than 50 qualified employees on business days during 
the preceding taxable year.

SEC. 6. DEFINED TERM.

    In this Act, the term ``aggregate gross assets'' has the meaning 
given such term in section 1202(d)(2) of the Internal Revenue Code of 
1986.

SEC. 7. AUTHORIZATION OF APPROPRIATIONS.

    There are authorized to be appropriated to the Department of 
Commerce $100,000,000 for each of the fiscal years 2008 through 2012 to 
carry out this Act.
Output: Small Business Emergency Fuel Assistance Act of 2007 - Establishes within the Economic Development Administration of the Department of Commerce an emergency assistance program for small businesses and small farms dependent on fuel.

Authorizes the President to declare a federal energy emergency if the health, safety, welfare, or economic well-being of U.S. citizens is at risk because of an imminent or actual shortage of adequate supplies of crude oil, gasoline or petroleum distillates owing to: (1) a disruption in the national distribution system for such distillates (including a shortage related to a major disaster); or (2) significant pricing anomalies in national energy markets for them.

Authorizes the Secretary of Commerce to award grants to states under a presidential declaration of fuel supply interruption.