Small Business Jobs Act of 2010Public Law 111-240, as amendedSmall Business Jobs Act of 2010240117–2Statute CompilationUnited States House of RepresentativesOffice of the Legislative Counseltext/xmlENPursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.GPO Statute Compilations USLM converter, version 20210527.12021-10-15Small Business Jobs Act of 2010Export Promotion Act of 2010Small Business Export Enhancement and International Trade Act of 2010Small Business Job Creation and Access to Capital Act of 2010Creating Small Business Jobs Act of 2010State Small Business Credit Initiative Act of 201094661112010-09-27Small Business Jobs Act of 2010[(Public Law 111-240)][As Amended Through P.L. 117–2, Enacted March 11, 2021][Currency: This publication is a compilation of the text of Public Law 111-240. It was last amended by the public law listed in the As Amended Through note above and below at the bottom of each page of the pdf version and reflects current law through the date of the enactment of the public law listed at https://www.govinfo.gov/app/collection/comps/][Note: While this publication does not represent an official version of any Federal statute, substantial efforts have been made to ensure the accuracy of its contents. The official version of Federal law is found in the United States Statutes at Large and in the United States Code. The legal effect to be given to the Statutes at Large and the United States Code is established by statute (1 U.S.C. 112, 204).]AN ACTTo create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. [15 U.S.C. 631 note]SHORT TITLE. This Act may be cited as the “Small Business Jobs Act of 2010”.SEC. 2. TABLE OF CONTENTS. The table of contents for this Act is as follows:Sec. 1.Sec. 2.TITLE I—Sec. 1001.Subtitle A—Sec. 1101.PART I—Sec. 1111.Sec. 1112.Sec. 1113.Sec. 1114.Sec. 1115.Sec. 1116.Sec. 1117.Sec. 1118.Sec. 1119.PART II—Sec. 1122.PART III—Sec. 1131.Sec. 1132.Sec. 1133.Sec. 1134.Sec. 1135.Sec. 1136.Subtitle B—Sec. 1201.Sec. 1202.Sec. 1203.Sec. 1204.Sec. 1205.Sec. 1206.Sec. 1207.Sec. 1208.Sec. 1209.Subtitle C—PART I—Sec. 1311.Sec. 1312.Sec. 1313.Sec. 1314.PART II—Sec. 1321.Sec. 1322.PART III—Sec. 1331.Sec. 1332.Sec. 1333.Sec. 1334.Sec. 1335.PART IV—Sec. 1341.Sec. 1342.Sec. 1343.Sec. 1344.Sec. 1345.Sec. 1346.Sec. 1347.Subtitle D—Sec. 1401.Sec. 1402.Subtitle E—Sec. 1501.Subtitle F—Sec. 1601.Sec. 1602.Subtitle G—Sec. 1701.Sec. 1702.Sec. 1703.Sec. 1704.TITLE II—Sec. 2001.Subtitle A—PART I—Sec. 2011.Sec. 2012.Sec. 2013.Sec. 2014.PART II—Sec. 2021.Sec. 2022.Sec. 2023.PART III—Sec. 2031.Sec. 2032.PART IV—Sec. 2041.Sec. 2042.Sec. 2043.Subtitle B—PART I—Sec. 2101.Sec. 2102.Sec. 2103.Sec. 2104.PART II—Sec. 2111.Sec. 2112.Sec. 2113.PART III—Sec. 2121.Sec. 2122.PART IV—Sec. 2131.TITLE III—Sec. 3001.Sec. 3002.Sec. 3003.Sec. 3004.Sec. 3005.Sec. 3006.Sec. 3007.Sec. 3008.Sec. 3009.Sec. 3010.Sec. 3011.TITLE IV—Subtitle A—Sec. 4101.Sec. 4102.Sec. 4103.Sec. 4104.Sec. 4105.Sec. 4106.Sec. 4107.Sec. 4108.Sec. 4109.Sec. 4110.Sec. 4111.Sec. 4112.Sec. 4113.Subtitle B—PART I—Sec. 4221.Sec. 4222.Sec. 4223.Sec. 4224.Sec. 4225.Sec. 4226.Sec. 4227.Sec. 4228.PART II—Sec. 4241.TITLE V—Sec. 5001.
<num style="-uslm-dtd:enum" value="I">TITLE I—</num><heading style="-uslm-dtd:header">SMALL BUSINESSES </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/s1001" styleType="OLC" role="definitions">
<num style="-uslm-dtd:enum" value="1001">SEC. 1001. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s632">15 U.S.C. 632 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">DEFINITIONS. </heading>
<chapeau style="-uslm-dtd:text" class="block">In this title—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/s1001/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the terms “<term style="-uslm-dtd:quote">Administration</term>” and “<term style="-uslm-dtd:quote">Administrator</term>” mean the Small Business Administration and the Administrator thereof, respectively; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/s1001/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the term “<term style="-uslm-dtd:quote">small business concern</term>” has the meaning given that term under section 3 of the Small Business Act (15 U.S.C. 632).</content>
</paragraph>
</section>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tI/stA">
<num style="-uslm-dtd:enum" value="A">Subtitle A—</num><heading style="-uslm-dtd:header">Small Business Access to Credit </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/s1101" styleType="OLC">
<num style="-uslm-dtd:enum" value="1101">SEC. 1101. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s631">15 U.S.C. 631 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">SHORT TITLE. </heading>
<content style="-uslm-dtd:text" class="block">This subtitle may be cited as the “<shortTitle style="-uslm-dtd:quote"><inline style="-uslm-dtd:short-title">Small Business Job Creation and Access to Capital Act of 2010</inline></shortTitle>”.</content>
</section>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tI/stA/ptI">
<num style="-uslm-dtd:enum" value="I">PART I—</num><heading style="-uslm-dtd:header">NEXT STEPS FOR MAIN STREET CREDIT AVAILABILITY </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptI/s1111" styleType="OLC">
<num style="-uslm-dtd:enum" value="1111">SEC. 1111. </num><heading style="-uslm-dtd:header">SECTION 7(a) BUSINESS LOANS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Amendment.—</heading><chapeau style="-uslm-dtd:text">Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">in paragraph (2)(A)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/a/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in clause (i), by striking “<quotedText style="-uslm-dtd:quote">75 percent</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">90 percent</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/a/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in clause (ii), by striking “<quotedText style="-uslm-dtd:quote">85 percent</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">90 percent</quotedText>”; and</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (3)(A), by striking “<quotedText style="-uslm-dtd:quote">$1,500,000 (or if the gross loan amount would exceed $2,000,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$4,500,000 (or if the gross loan amount would exceed $5,000,000</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Prospective Repeal.—</heading><chapeau style="-uslm-dtd:text">Effective January 1, 2011, section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">in paragraph (2)(A)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/b/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in clause (i), by striking “<quotedText style="-uslm-dtd:quote">90 percent</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">75 percent</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/b/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in clause (ii), by striking “<quotedText style="-uslm-dtd:quote">90 percent</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">85 percent</quotedText>”; and</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1111/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (3)(A), by striking “<quotedText style="-uslm-dtd:quote">$4,500,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$3,750,000</quotedText>”.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptI/s1112" styleType="OLC">
<num style="-uslm-dtd:enum" value="1112">SEC. 1112. </num><heading style="-uslm-dtd:header">MAXIMUM LOAN AMOUNTS UNDER 504 PROGRAM. </heading>
<chapeau style="-uslm-dtd:text" class="block">Section 502(2)(A) of the Small Business Investment Act of 1958 (15 U.S.C. 696(2)(A)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1112/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in clause (i), by striking “<quotedText style="-uslm-dtd:quote">$1,500,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$5,000,000</quotedText>”;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1112/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in clause (ii), by striking “<quotedText style="-uslm-dtd:quote">$2,000,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$5,000,000</quotedText>”;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1112/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">in clause (iii), by striking “<quotedText style="-uslm-dtd:quote">$4,000,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$5,500,000</quotedText>”;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1112/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">in clause (iv), by striking “<quotedText style="-uslm-dtd:quote">$4,000,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$5,500,000</quotedText>”; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1112/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">in clause (v), by striking “<quotedText style="-uslm-dtd:quote">$4,000,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$5,500,000</quotedText>”.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptI/s1113" styleType="OLC">
<num style="-uslm-dtd:enum" value="1113">SEC. 1113. </num><heading style="-uslm-dtd:header">MAXIMUM LOAN LIMITS UNDER MICROLOAN PROGRAM. </heading>
<chapeau style="-uslm-dtd:text" class="block">Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1113/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (1)(B)(iii), by striking “<quotedText style="-uslm-dtd:quote">$35,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$50,000</quotedText>”;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1113/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in paragraph (3)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1113/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in subparagraph (C), by striking “<quotedText style="-uslm-dtd:quote">$3,500,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$5,000,000</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1113/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in subparagraph (E), by striking “<quotedText style="-uslm-dtd:quote">$35,000</quotedText>” each place that term appears and inserting “<quotedText style="-uslm-dtd:quote">$50,000</quotedText>”; and</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1113/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">in paragraph (11)(B), by striking “<quotedText style="-uslm-dtd:quote">$35,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$50,000</quotedText>”.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptI/s1114" styleType="OLC">
<num style="-uslm-dtd:enum" value="1114">SEC. 1114. </num><heading style="-uslm-dtd:header">LOAN GUARANTEE ENHANCEMENT EXTENSIONS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptI/s1114/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Fees.—</heading><content style="-uslm-dtd:text">Section 501 of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 151) is amended by striking “<quotedText style="-uslm-dtd:quote">September 30, 2010</quotedText>” each place that term appears and inserting “<quotedText style="-uslm-dtd:quote">March 4, 2011</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptI/s1114/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Loan Guarantees.—</heading><content style="-uslm-dtd:text">Section 502(f) of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 153) is amended by striking “<quotedText style="-uslm-dtd:quote">May 31, 2010</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">March 4, 2014</quotedText>”.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptI/s1115" styleType="OLC">
<num style="-uslm-dtd:enum" value="1115">SEC. 1115. </num><heading style="-uslm-dtd:header">NEW MARKETS VENTURE CAPITAL COMPANY INVESTMENT LIMITATIONS. </heading>
<content style="-uslm-dtd:text" class="block">Section 355 of the Small Business Investment Act of 1958 (15 U.S.C. 689d) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Investment Limitations. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Definition. </heading><chapeau style="-uslm-dtd:text">In this subsection, the term ‘<quotedText style="-uslm-dtd:quote">covered New Markets Venture Capital company</quotedText>’ means a New Markets Venture Capital company—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">granted final approval by the Administrator under section 354(e) on or after March 1, 2002; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">that has obtained a financing from the Administrator.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Limitation. </heading><chapeau style="-uslm-dtd:text">Except to the extent approved by the Administrator, a covered New Markets Venture Capital company may not acquire or issue commitments for securities under this title for any single enterprise in an aggregate amount equal to more than 10 percent of the sum of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the regulatory capital of the covered New Markets Venture Capital company; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the total amount of leverage projected in the participation agreement of the covered New Markets Venture Capital.”</content>
</subparagraph>
</paragraph>
</subsection></quotedContent>.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptI/s1116" styleType="OLC">
<num style="-uslm-dtd:enum" value="1116">SEC. 1116. </num><heading style="-uslm-dtd:header">ALTERNATIVE SIZE STANDARDS. </heading>
<content style="-uslm-dtd:text" class="block">Section 3(a) of the Small Business Act (15 U.S.C. 632(a)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC" class="leftIndentDecrease1">
<num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Alternative Size Standard. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Administrator shall establish an alternative size standard for applicants for business loans under section 7(a) and applicants for development company loans under title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.), that uses maximum tangible net worth and average net income as an alternative to the use of industry standards.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Interim rule. </heading><chapeau style="-uslm-dtd:text">Until the date on which the alternative size standard established under subparagraph (A) is in effect, an applicant for a business loan under section 7(a) or an applicant for a development company loan under title V of the Small Business Investment Act of 1958 may be eligible for such a loan if—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">the maximum tangible net worth of the applicant is not more than $15,000,000; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">the average net income after Federal income taxes (excluding any carry-over losses) of the applicant for the 2 full fiscal years before the date of the application is not more than $5,000,000.”</content>
</clause>
</subparagraph>
</paragraph></quotedContent>.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptI/s1117" styleType="OLC">
<num style="-uslm-dtd:enum" value="1117">SEC. 1117. </num><heading style="-uslm-dtd:header">SALE OF 7(a) LOANS IN SECONDARY MARKET. </heading>
<content style="-uslm-dtd:text" class="block">Section 5(g) of the Small Business Act (15 U.S.C. 634(g)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC" class="leftIndentDecrease1">
<num style="-uslm-dtd:enum" value="6">“(6) </num><content style="-uslm-dtd:text">If the amount of the guaranteed portion of any loan under section 7(a) is more than $500,000, the Administrator shall, upon request of a pool assembler, divide the loan guarantee into increments of $500,000 and 1 increment of any remaining amount less than $500,000, in order to permit the maximum amount of any loan in a pool to be not more than $500,000. Only 1 increment of any loan guarantee divided under this paragraph may be included in the same pool. Increments of loan guarantees to different borrowers that are divided under this paragraph may be included in the same pool.”</content>
</paragraph></quotedContent>.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptI/s1118" styleType="OLC">
<num style="-uslm-dtd:enum" value="1118">SEC. 1118. </num><heading style="-uslm-dtd:header">ONLINE LENDING PLATFORM. </heading>
<chapeau style="-uslm-dtd:text" class="block">It is the sense of Congress that the Administrator of the Small Business Administration should establish a website that—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1118/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">lists each lender that makes loans guaranteed by the Small Business Administration and provides information about the loan rates of each such lender; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptI/s1118/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">allows prospective borrowers to compare rates on loans guaranteed by the Small Business Administration.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptI/s1119" styleType="OLC">
<num style="-uslm-dtd:enum" value="1119">SEC. 1119. </num><heading style="-uslm-dtd:header">SBA SECONDARY MARKET GUARANTEE AUTHORITY. </heading>
<content style="-uslm-dtd:text" class="block">Section 503(f) of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 155) is amended by striking “<quotedText style="-uslm-dtd:quote">on the date 2 years after the date of enactment of this section</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">2 years after the date of the first sale of a pool of first lien position 504 loans guaranteed under this section to a third-party investor</quotedText>”.</content>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tI/stA/ptII">
<num style="-uslm-dtd:enum" value="II">PART II—</num><heading style="-uslm-dtd:header">SMALL BUSINESS ACCESS TO CAPITAL </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptII/s1122" styleType="OLC">
<num style="-uslm-dtd:enum" value="1122">SEC. 1122. </num><heading style="-uslm-dtd:header">LOW-INTEREST REFINANCING UNDER THE LOCAL DEVELOPMENT BUSINESS LOAN PROGRAM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptII/s1122/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Refinancing.—</heading><content style="-uslm-dtd:text">Section 502(7) of the Small Business Investment Act of 1958 (15 U.S.C. 696(7)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Refinancing not involving expansions. </heading>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Definitions. </heading><chapeau style="-uslm-dtd:text">In this subparagraph—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">borrower</quotedText>’ means a small business concern that submits an application to a development company for financing under this subparagraph;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">eligible fixed asset</quotedText>’ means tangible property relating to which the Administrator may provide financing under this section; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><chapeau style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">qualified debt</quotedText>’ means indebtedness—</chapeau>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">“(aa) </num><chapeau style="-uslm-dtd:text">that—</chapeau>
<subitem style="-uslm-dtd:subitem" styleType="OLC">
<num style="-uslm-dtd:enum" value="AA">“(AA) </num><content style="-uslm-dtd:text">was incurred not less than 2 years before the date of the application for assistance under this subparagraph;</content>
</subitem>
<subitem style="-uslm-dtd:subitem" styleType="OLC">
<num style="-uslm-dtd:enum" value="BB">“(BB) </num><content style="-uslm-dtd:text">is a commercial loan;</content>
</subitem>
<subitem style="-uslm-dtd:subitem" styleType="OLC">
<num style="-uslm-dtd:enum" value="CC">“(CC) </num><content style="-uslm-dtd:text">is not subject to a guarantee by a Federal agency;</content>
</subitem>
<subitem style="-uslm-dtd:subitem" styleType="OLC">
<num style="-uslm-dtd:enum" value="DD">“(DD) </num><content style="-uslm-dtd:text">the proceeds of which were used to acquire an eligible fixed asset;</content>
</subitem>
<subitem style="-uslm-dtd:subitem" styleType="OLC">
<num style="-uslm-dtd:enum" value="EE">“(EE) </num><content style="-uslm-dtd:text">was incurred for the benefit of the small business concern; and</content>
</subitem>
<subitem style="-uslm-dtd:subitem" styleType="OLC">
<num style="-uslm-dtd:enum" value="FF">“(FF) </num><content style="-uslm-dtd:text">is collateralized by eligible fixed assets; and</content>
</subitem>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">“(bb) </num><content style="-uslm-dtd:text">for which the borrower has been current on all payments for not less than 1 year before the date of the application.</content>
</item>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Authority. </heading><chapeau style="-uslm-dtd:text">A project that does not involve the expansion of a small business concern may include the refinancing of qualified debt if—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">the amount of the financing is not more than 90 percent of the value of the collateral for the financing, except that, if the appraised value of the eligible fixed assets serving as collateral for the financing is less than the amount equal to 125 percent of the amount of the financing, the borrower may provide additional cash or other collateral to eliminate any deficiency;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">the borrower has been in operation for all of the 2-year period ending on the date of the loan; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">for a financing for which the Administrator determines there will be an additional cost attributable to the refinancing of the qualified debt, the borrower agrees to pay a fee in an amount equal to the anticipated additional cost.</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">“(iii) </num><heading style="-uslm-dtd:header">Financing for business expenses. </heading>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><heading style="-uslm-dtd:header">Financing for business expenses. </heading><content style="-uslm-dtd:text">The Administrator may provide financing to a borrower that receives financing that includes a refinancing of qualified debt under clause (ii), in addition to the refinancing under clause (ii), to be used solely for the payment of business expenses.</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><heading style="-uslm-dtd:header">Application for financing. </heading><chapeau style="-uslm-dtd:text">An application for financing under subclause (I) shall include—</chapeau>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">“(aa) </num><content style="-uslm-dtd:text">a specific description of the expenses for which the additional financing is requested; and</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">“(bb) </num><content style="-uslm-dtd:text">an itemization of the amount of each expense.</content>
</item>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><heading style="-uslm-dtd:header">Condition on additional financing. </heading><content style="-uslm-dtd:text">A borrower may not use any part of the financing under this clause for non-business purposes.</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">“(iv) </num><heading style="-uslm-dtd:header">Loans based on jobs. </heading>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><heading style="-uslm-dtd:header">Job creation and retention goals. </heading>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">“(aa) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Administrator may provide financing under this subparagraph for a borrower that meets the job creation goals under subsection (d) or (e) of section 501.</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">“(bb) </num><heading style="-uslm-dtd:header">Alternate job retention goal. </heading><content style="-uslm-dtd:text">The Administrator may provide financing under this subparagraph to a borrower that does not meet the goals described in item (aa) in an amount that is not more than the product obtained by multiplying the number of employees of the borrower by $65,000.</content>
</item>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><heading style="-uslm-dtd:header">Number of employees. </heading><chapeau style="-uslm-dtd:text">For purposes of subclause (I), the number of employees of a borrower is equal to the sum of—</chapeau>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">“(aa) </num><content style="-uslm-dtd:text">the number of full-time employees of the borrower on the date on which the borrower applies for a loan under this subparagraph; and</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">“(bb) </num><chapeau style="-uslm-dtd:text">the product obtained by multiplying—</chapeau>
<subitem style="-uslm-dtd:subitem" styleType="OLC">
<num style="-uslm-dtd:enum" value="AA">“(AA) </num><content style="-uslm-dtd:text">the number of part-time employees of the borrower on the date on which the borrower applies for a loan under this subparagraph; by</content>
</subitem>
<subitem style="-uslm-dtd:subitem" styleType="OLC">
<num style="-uslm-dtd:enum" value="BB">“(BB) </num><content style="-uslm-dtd:text">the quotient obtained by dividing the average number of hours each part time employee of the borrower works each week by 40.</content>
</subitem>
</item>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="v">“(v) </num><heading style="-uslm-dtd:header">Nondelegation. </heading><content style="-uslm-dtd:text">Notwithstanding section 508(e), the Administrator may not permit a premier certified lender to approve or disapprove an application for assistance under this subparagraph.</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="vi">“(vi) </num><heading style="-uslm-dtd:header">Total amount of loans. </heading><content style="-uslm-dtd:text">The Administrator may provide not more than a total of $7,500,000,000 of financing under this subparagraph for each fiscal year.”</content>
</clause>
</subparagraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptII/s1122/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Prospective Repeal.—</heading><content style="-uslm-dtd:text">Effective 2 years after the date of enactment of this Act, section 502(7) of the Small Business Investment Act of 1958 (15 U.S.C. 696(7)) is amended by striking subparagraph (C).</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptII/s1122/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Technical Correction.—</heading><content style="-uslm-dtd:text">Section 502(2)(A)(i) of the Small Business Investment Act of 1958 (15 U.S.C. 696(2)(A)(i)) is amended by striking “<quotedText style="-uslm-dtd:quote">subparagraph (B) or (C)</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">clause (ii), (iii), (iv), or (v)</quotedText>”.</content>
</subsection>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tI/stA/ptIII">
<num style="-uslm-dtd:enum" value="III">PART III—</num><heading style="-uslm-dtd:header">OTHER MATTERS </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptIII/s1131" styleType="OLC">
<num style="-uslm-dtd:enum" value="1131">SEC. 1131. </num><heading style="-uslm-dtd:header">SMALL BUSINESS INTERMEDIARY LENDING PILOT PROGRAM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptIII/s1131/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 7 of the Small Business Act (15 U.S.C. 636) is amended by striking subsection (l) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="l">“(l) </num><heading style="-uslm-dtd:header">Small Business Intermediary Lending Pilot Program. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Definitions. </heading><chapeau style="-uslm-dtd:text">In this subsection—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><chapeau style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">eligible intermediary</quotedText>’—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><chapeau style="-uslm-dtd:text">means a private, nonprofit entity that—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">seeks or has been awarded a loan from the Administrator to make loans to small business concerns under this subsection; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">has not less than 1 year of experience making loans to startup, newly established, or growing small business concerns; and</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><chapeau style="-uslm-dtd:text">includes—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">a private, nonprofit community development corporation;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">a consortium of private, nonprofit organizations or nonprofit community development corporations; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">an agency of or nonprofit entity established by a Native American Tribal Government; and</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">Program</quotedText>’ means the small business intermediary lending pilot program established under paragraph (2).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Establishment. </heading><content style="-uslm-dtd:text">There is established a 3-year small business intermediary lending pilot program, under which the Administrator may make direct loans to eligible intermediaries, for the purpose of making loans to startup, newly established, and growing small business concerns.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Purposes. </heading><chapeau style="-uslm-dtd:text">The purposes of the Program are—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">to assist small business concerns in areas suffering from a lack of credit due to poor economic conditions or changes in the financial market; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">to establish a loan program under which the Administrator may provide loans to eligible intermediaries to enable the eligible intermediaries to provide loans to startup, newly established, and growing small business concerns for working capital, real estate, or the acquisition of materials, supplies, or equipment.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Loans to eligible intermediaries. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Application. </heading><chapeau style="-uslm-dtd:text">Each eligible intermediary desiring a loan under this subsection shall submit an application to the Administrator that describes—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">the type of small business concerns to be assisted;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">the size and range of loans to be made;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">the interest rate and terms of loans to be made;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">the geographic area to be served and the economic, poverty, and unemployment characteristics of the area;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="v">“(v) </num><content style="-uslm-dtd:text">the status of small business concerns in the area to be served and an analysis of the availability of credit; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="vi">“(vi) </num><content style="-uslm-dtd:text">the qualifications of the applicant to carry out this subsection.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Loan limits. </heading><content style="-uslm-dtd:text">No loan may be made to an eligible intermediary under this subsection if the total amount outstanding and committed to the eligible intermediary by the Administrator would, as a result of such loan, exceed $1,000,000 during the participation of the eligible intermediary in the Program.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Loan duration. </heading><content style="-uslm-dtd:text">Loans made by the Administrator under this subsection shall be for a term of 20 years.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Applicable interest rates. </heading><content style="-uslm-dtd:text">Loans made by the Administrator to an eligible intermediary under the Program shall bear an annual interest rate equal to 1.00 percent.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Fees; collateral. </heading><content style="-uslm-dtd:text">The Administrator may not charge any fees or require collateral with respect to any loan made to an eligible intermediary under this subsection.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">“(F) </num><heading style="-uslm-dtd:header">Delayed payments. </heading><content style="-uslm-dtd:text">The Administrator shall not require the repayment of principal or interest on a loan made to an eligible intermediary under the Program during the 2-year period beginning on the date of the initial disbursement of funds under that loan.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">“(G) </num><heading style="-uslm-dtd:header">Maximum participants and amounts. </heading><chapeau style="-uslm-dtd:text">During each of fiscal years 2011, 2012, and 2013, the Administrator may make loans under the Program—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">to not more than 20 eligible intermediaries; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">in a total amount of not more than $20,000,000.</content>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Loans to small business concerns. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Administrator, through an eligible intermediary, shall make loans to startup, newly established, and growing small business concerns for working capital, real estate, and the acquisition of materials, supplies, furniture, fixtures, and equipment.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Maximum loan. </heading><content style="-uslm-dtd:text">An eligible intermediary may not make a loan under this subsection of more than $200,000 to any 1 small business concern.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Applicable interest rates. </heading><content style="-uslm-dtd:text">A loan made by an eligible intermediary to a small business concern under this subsection, may have a fixed or a variable interest rate, and shall bear an interest rate specified by the eligible intermediary in the application of the eligible intermediary for a loan under this subsection.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Review restrictions. </heading><content style="-uslm-dtd:text">The Administrator may not review individual loans made by an eligible intermediary to a small business concern before approval of the loan by the eligible intermediary.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Termination. </heading><content style="-uslm-dtd:text">The authority of the Administrator to make loans under the Program shall terminate 3 years after the date of enactment of the Small Business Job Creation and Access to Capital Act of 2010.”</content>
</paragraph>
</subsection></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptIII/s1131/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s636">15 U.S.C. 636 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Rulemaking Authority.—</heading><content style="-uslm-dtd:text">Not later than 180 days after the date of enactment of this Act, the Administrator shall issue regulations to carry out section 7(l) of the Small Business Act, as amended by subsection (a).</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptIII/s1131/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Availability of Funds.—</heading><content style="-uslm-dtd:text">Any amounts provided to the Administrator for the purposes of carrying out section 7(l) of the Small Business Act, as amended by subsection (a), shall remain available until expended.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptIII/s1132" styleType="OLC">
<num style="-uslm-dtd:enum" value="1132">SEC. 1132. </num><heading style="-uslm-dtd:header">PUBLIC POLICY GOALS. </heading>
<chapeau style="-uslm-dtd:text" class="block">Section 501(d)(3) of the Small Business Investment Act of 1958 (15 U.S.C. 695(d)(3)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1132/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in subparagraph (J), by striking “<quotedText style="-uslm-dtd:quote">or</quotedText>” at the end;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1132/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in subparagraph (K), by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">, or</quotedText>”; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1132/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="L">“(L) </num><content style="-uslm-dtd:text">reduction of rates of unemployment in labor surplus areas, as such areas are determined by the Secretary of Labor.”</content>
</subparagraph></quotedContent>.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptIII/s1133" styleType="OLC">
<num style="-uslm-dtd:enum" value="1133">SEC. 1133. </num><heading style="-uslm-dtd:header">FLOOR PLAN PILOT PROGRAM EXTENSION. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptIII/s1133/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1133/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by redesignating paragraph (32), relating to increased veteran participation, as added by section 208 of the Military Reservist and Veteran Small Business Reauthorization and Opportunity Act of 2008 (Public Law 110-186; 122 Stat. 631), as paragraph (33); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1133/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="34">“(34) </num><heading style="-uslm-dtd:header">Floor plan financing program. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Definition. </heading><chapeau style="-uslm-dtd:text">In this paragraph, the term ‘<quotedText style="-uslm-dtd:quote">eligible retail good</quotedText>’—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">means a good for which a title may be obtained under State law; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">includes an automobile, recreational vehicle, boat, and manufactured home.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Program. </heading><content style="-uslm-dtd:text">The Administrator may guarantee the timely payment of an open-end extension of credit to a small business concern, the proceeds of which may be used for the purchase of eligible retail goods for resale.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Amount. </heading><content style="-uslm-dtd:text">An open-end extension of credit guaranteed under this paragraph shall be in an amount not less than $500,000 and not more than $5,000,000.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Term. </heading><content style="-uslm-dtd:text">An open-end extension of credit guaranteed under this paragraph shall have a term of not more than 5 years.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Guarantee percentage. </heading><chapeau style="-uslm-dtd:text">The Administrator may guarantee—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">not less than 60 percent of an open-end extension of credit under this paragraph; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">not more than 75 percent of an open-end extension of credit under this paragraph.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">“(F) </num><heading style="-uslm-dtd:header">Advance rate. </heading><content style="-uslm-dtd:text">The lender for an open-end extension of credit guaranteed under this paragraph may allow the borrower to draw funds on the line of credit in an amount equal to not more than 100 percent of the value of the eligible retail goods to be purchased.”</content>
</subparagraph>
</paragraph></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptIII/s1133/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Sunset.—</heading><chapeau style="-uslm-dtd:text">Effective September 30, 2013, section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1133/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking paragraph (34); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1133/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by redesignating paragraph (35), as added by section 1206 of this Act, as paragraph (34).</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptIII/s1134" styleType="OLC">
<num style="-uslm-dtd:enum" value="1134">SEC. 1134. </num><heading style="-uslm-dtd:header">GUARANTEES FOR BONDS AND NOTES ISSUED FOR COMMUNITY OR ECONOMIC DEVELOPMENT PURPOSES. </heading>
<content style="-uslm-dtd:text" class="block">The Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4701 et seq.) is amended by inserting after section 114 (12 U.S.C. 4713) the following:<quotedContent style="-uslm-dtd:quoted-block">
<section style="-uslm-dtd:section" styleType="OLC">
<num style="-uslm-dtd:enum" value="114A">“SEC. 114A. </num><heading style="-uslm-dtd:header">GUARANTEES FOR BONDS AND NOTES ISSUED FOR COMMUNITY OR ECONOMIC DEVELOPMENT PURPOSES </heading>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Definitions. </heading><chapeau style="-uslm-dtd:text">In this section, the following definitions shall apply:</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Eligible community development financial institution. </heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">eligible community development financial institution</quotedText>’ means a community development financial institution (as described in section 1805.201 of title 12, Code of Federal Regulations, or any successor thereto) certified by the Secretary that has applied to a qualified issuer for, or been granted by a qualified issuer, a loan under the Program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Eligible community or economic development purpose. </heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">eligible community or economic development purpose</quotedText>’—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">means any purpose described in section 108(b); and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">includes the provision of community or economic development in low-income or underserved rural areas.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Guarantee. </heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">guarantee</quotedText>’ means a written agreement between the Secretary and a qualified issuer (or trustee), pursuant to which the Secretary ensures repayment of the verifiable losses of principal, interest, and call premium, if any, on notes or bonds issued by a qualified issuer to finance or refinance loans to eligible community development financial institutions.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Loan. </heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">loan</quotedText>’ means any credit instrument that is extended under the Program for any eligible community or economic development purpose.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Master servicer. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">master servicer</quotedText>’ means any entity approved by the Secretary in accordance with subparagraph (B) to oversee the activities of servicers, as provided in subsection (f)(4).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Approval criteria for master servicers. </heading><chapeau style="-uslm-dtd:text">The Secretary shall approve or deny any application to become a master servicer under the Program not later than 90 days after the date on which all required information is submitted to the Secretary, based on the capacity and experience of the applicant in—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">loan administration, servicing, and loan monitoring;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">managing regional or national loan intake, processing, or servicing operational systems and infrastructure;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">managing regional or national originator communication systems and infrastructure;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">developing and implementing training and other risk management strategies on a regional or national basis; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="v">“(v) </num><content style="-uslm-dtd:text">compliance monitoring, investor relations, and reporting.</content>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Program. </heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">Program</quotedText>’ means the guarantee Program for bonds and notes issued for eligible community or economic development purposes established under this section.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">“(7) </num><heading style="-uslm-dtd:header">Program administrator. </heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">Program administrator</quotedText>’ means an entity designated by the issuer to perform administrative duties, as provided in subsection (f)(2).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">“(8) </num><heading style="-uslm-dtd:header">Qualified issuer. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">qualified issuer</quotedText>’ means a community development financial institution (or any entity designated to issue notes or bonds on behalf of such community development financial institution) that meets the qualification requirements of this paragraph.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Approval criteria for qualified issuers. </heading>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Secretary shall approve a qualified issuer for a guarantee under the Program in accordance with the requirements of this paragraph, and such additional requirements as the Secretary may establish, by regulation.</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Terms and qualifications. </heading><chapeau style="-uslm-dtd:text">A qualified issuer shall—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">have appropriate expertise, capacity, and experience, or otherwise be qualified to make loans for eligible community or economic development purposes;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><chapeau style="-uslm-dtd:text">provide to the Secretary—</chapeau>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">“(aa) </num><content style="-uslm-dtd:text">an acceptable statement of the proposed sources and uses of the funds; and</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">“(bb) </num><content style="-uslm-dtd:text">a capital distribution plan that meets the requirements of subsection (c)(1); and</content>
</item>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">certify to the Secretary that the bonds or notes to be guaranteed are to be used for eligible community or economic development purposes.</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Department opinion; timing. </heading>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Department opinion. </heading><content style="-uslm-dtd:text">Not later than 30 days after the date of a request by a qualified issuer for approval of a guarantee under the Program, the Secretary shall provide an opinion regarding compliance by the issuer with the requirements of the Program under this section.</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Timing. </heading><content style="-uslm-dtd:text">The Secretary shall approve or deny a guarantee under this section after consideration of the opinion provided to the Secretary under clause (i), and in no case later than 90 days after receipt of all required information by the Secretary with respect to a request for such guarantee.</content>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="9">“(9) </num><heading style="-uslm-dtd:header">Secretary. </heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">Secretary</quotedText>’ means the Secretary of the Treasury.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="10">“(10) </num><heading style="-uslm-dtd:header">Servicer. </heading><content style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">servicer</quotedText>’ means an entity designated by the issuer to perform various servicing duties, as provided in subsection (f)(3).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Guarantees Authorized. </heading><chapeau style="-uslm-dtd:text">The Secretary shall guarantee payments on bonds or notes issued by any qualified issuer, if the proceeds of the bonds or notes are used in accordance with this section to make loans to eligible community development financial institutions—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">for eligible community or economic development purposes; or</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">to refinance loans or notes issued for such purposes.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">General Program Requirements. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">A capital distribution plan meets the requirements of this subsection, if not less than 90 percent of the principal amount of guaranteed bonds or notes (other than costs of issuance fees) are used to make loans for any eligible community or economic development purpose, measured annually, beginning at the end of the 1-year period beginning on the issuance date of such guaranteed bonds or notes.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Relending account. </heading><content style="-uslm-dtd:text">Not more than 10 percent of the principal amount of guaranteed bonds or notes, multiplied by an amount equal to the outstanding principal balance of issued notes or bonds, minus the risk-share pool amount under subsection (d), may be held in a relending account and may be made available for new eligible community or economic development purposes.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Limitations on unpaid principal balances. </heading><chapeau style="-uslm-dtd:text">The proceeds of guaranteed bonds or notes under the Program may not be used to pay fees (other than costs of issuance fees), and shall be held in—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">community or economic development loans;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">a relending account, to the extent authorized under paragraph (2); or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">a risk-share pool established under subsection (d).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Repayment. </heading><content style="-uslm-dtd:text">If a qualified issuer fails to meet the requirements of paragraph (1) by the end of the 90-day period beginning at the end of the annual measurement period, repayment shall be made on that portion of bonds or notes necessary to bring the bonds or notes that remain outstanding after such repayment into compliance with the 90 percent requirement of paragraph (1).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Prohibited uses. </heading><chapeau style="-uslm-dtd:text">The Secretary shall, by regulation—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">prohibit, as appropriate, certain uses of amounts from the guarantee of a bond or note under the Program, including the use of such funds for political activities, lobbying, outreach, counseling services, or travel expenses; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><chapeau style="-uslm-dtd:text">provide that the guarantee of a bond or note under the Program may not be used for salaries or other administrative costs of—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">the qualified issuer; or</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">any recipient of amounts from the guarantee of a bond or note.</content>
</clause>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Risk-Share Pool. </heading><content style="-uslm-dtd:text">Each qualified issuer shall, during the term of a guarantee provided under the Program, establish a risk-share pool, capitalized by contributions from eligible community development financial institution participants an amount equal to 3 percent of the guaranteed amount outstanding on the subject notes and bonds.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Guarantees. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">A guarantee issued under the Program shall—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">be for the full amount of a bond or note, including the amount of principal, interest, and call premiums;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">be fully assignable and transferable to the capital market, on terms and conditions that are consistent with comparable Government-guaranteed bonds, and satisfactory to the Secretary;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">represent the full faith and credit of the United States; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">not exceed 30 years.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Limitations. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Annual number of guarantees. </heading><content style="-uslm-dtd:text">The Secretary shall issue not more than 10 guarantees in any calendar year under the Program.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Guarantee amount. </heading><content style="-uslm-dtd:text">The Secretary may not guarantee any amount under the Program equal to less than $100,000,000, but the total of all such guarantees in any fiscal year may not exceed $1,000,000,000.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Servicing of Transactions. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">To maximize efficiencies and minimize cost and interest rates, loans made under this section may be serviced by qualified Program administrators, bond servicers, and a master servicer.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Duties of program administrator. </heading><chapeau style="-uslm-dtd:text">The duties of a Program administrator shall include—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">approving and qualifying eligible community development financial institution applications for participation in the Program;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">compliance monitoring;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">bond packaging in connection with the Program; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">all other duties and related services that are customarily expected of a Program administrator.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Duties of servicer. </heading><chapeau style="-uslm-dtd:text">The duties of a servicer shall include—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">billing and collecting loan payments;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">initiating collection activities on past-due loans;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">transferring loan payments to the master servicing accounts;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">loan administration and servicing;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">systematic and timely reporting of loan performance through remittance and servicing reports;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">“(F) </num><content style="-uslm-dtd:text">proper measurement of annual outstanding loan requirements; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">“(G) </num><content style="-uslm-dtd:text">all other duties and related services that are customarily expected of servicers.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Duties of master servicer. </heading><chapeau style="-uslm-dtd:text">The duties of a master servicer shall include—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">tracking the movement of funds between the accounts of the master servicer and any other servicer;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">ensuring orderly receipt of the monthly remittance and servicing reports of the servicer;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">monitoring the collection comments and foreclosure actions;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">aggregating the reporting and distribution of funds to trustees and investors;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">removing and replacing a servicer, as necessary;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">“(F) </num><content style="-uslm-dtd:text">loan administration and servicing;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">“(G) </num><content style="-uslm-dtd:text">systematic and timely reporting of loan performance compiled from all bond servicers’ reports;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="H">“(H) </num><content style="-uslm-dtd:text">proper distribution of funds to investors; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">all other duties and related services that are customarily expected of a master servicer.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="g">“(g) </num><heading style="-uslm-dtd:header">Fees. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">A qualified issuer that receives a guarantee issued under this section on a bond or note shall pay a fee to the Secretary, in an amount equal to 10 basis points of the amount of the unpaid principal of the bond or note guaranteed.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Payment. </heading><content style="-uslm-dtd:text">A qualified issuer shall pay the fee required under this subsection on an annual basis.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Use of fees. </heading><content style="-uslm-dtd:text">Fees collected by the Secretary under this subsection shall be used to reimburse the Department of the Treasury for any administrative costs incurred by the Department in implementing the Program established under this section.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">“(h) </num><heading style="-uslm-dtd:header">Authorization of Appropriations. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">There are authorized to be appropriated to the Secretary, such sums as are necessary to carry out this section.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Use of fees. </heading><content style="-uslm-dtd:text">To the extent that the amount of funds appropriated for a fiscal year under paragraph (1) are not sufficient to carry out this section, the Secretary may use the fees collected under subsection (g) for the cost of providing guarantees of bonds and notes under this section.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Investment in Guaranteed Bonds Ineligible for Community Reinvestment Act Purposes. </heading><content style="-uslm-dtd:text">Notwithstanding any other provision of law, any investment by a financial institution in bonds or notes guaranteed under the Program shall not be taken into account in assessing the record of such institution for purposes of the Community Reinvestment Act of 1977 (12 U.S.C. 2901).</content>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="j">“(j) </num><heading style="-uslm-dtd:header">Administration. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Regulations. </heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this section, the Secretary shall promulgate regulations to carry out this section.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Implementation. </heading><content style="-uslm-dtd:text">Not later than 2 years after the date of enactment of this section, the Secretary shall implement this section.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="k">“(k) </num><heading style="-uslm-dtd:header">Termination. </heading><content style="-uslm-dtd:text">This section is repealed, and the authority provided under this section shall terminate, on September 30, 2014.”</content>
</subsection>
</section></quotedContent>.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptIII/s1135" styleType="OLC">
<num style="-uslm-dtd:enum" value="1135">SEC. 1135. </num><heading style="-uslm-dtd:header">TEMPORARY EXPRESS LOAN ENHANCEMENT. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptIII/s1135/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 7(a)(31)(D) of the Small Business Act (15 U.S.C. 636(a)(31)(D)) is amended by striking “<quotedText style="-uslm-dtd:quote">$350,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$1,000,000</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptIII/s1135/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Prospective Repeal.—</heading><content style="-uslm-dtd:text">Effective 1 year after the date of enactment of this Act, section 7(a)(31)(D) of the Small Business Act (15 U.S.C. 636(a)(31)(D)) is amended by striking “<quotedText style="-uslm-dtd:quote">$1,000,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$350,000</quotedText>”.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stA/ptIII/s1136" styleType="OLC">
<num style="-uslm-dtd:enum" value="1136">SEC. 1136. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s632">15 U.S.C. 632 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">PROHIBITION ON USING TARP FUNDS OR TAX INCREASES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptIII/s1136/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Except as provided in subsection (b), nothing in section 1111, 1112, 1113, 1114, 1115, 1116, 1117, 1118, 1122, or 1131, or an amendment made by such sections, shall be construed to limit the ability of Congress to appropriate funds.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stA/ptIII/s1136/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">TARP Funds and Tax Increases.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1136/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Any covered amounts may not be used to carry out section 1111, 1112, 1113, 1114, 1115, 1116, 1117, 1118, 1122, or 1131, or an amendment made by such sections.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1136/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Definition.—</heading><chapeau style="-uslm-dtd:text">In this subsection, the term “<quotedText style="-uslm-dtd:quote">covered amounts</quotedText>” means—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1136/b/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the amounts made available to the Secretary of the Treasury under title I of the Emergency Economic Stabilization Act of 2008 S.C. 5201 et seq.) to purchase (under section 101) or guarantee (under section 102) assets under that Act; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stA/ptIII/s1136/b/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">any revenue increase attributable to any amendment to the Internal Revenue Code of 1986 made during the period beginning on the date of enactment of this Act and ending on December 31, 2010.</content>
</subparagraph>
</paragraph>
</subsection>
</section>
</part>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tI/stB">
<num style="-uslm-dtd:enum" value="B">Subtitle B—</num><heading style="-uslm-dtd:header">Small Business Trade and Exporting </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stB/s1201" styleType="OLC">
<num style="-uslm-dtd:enum" value="1201">SEC. 1201. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s631">15 U.S.C. 631 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">SHORT TITLE. </heading>
<content style="-uslm-dtd:text" class="block">This subtitle may be cited as the “<shortTitle style="-uslm-dtd:quote"><inline style="-uslm-dtd:short-title">Small Business Export Enhancement and International Trade Act of 2010</inline></shortTitle>”.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stB/s1202" styleType="OLC" role="definitions">
<num style="-uslm-dtd:enum" value="1202">SEC. 1202. </num><heading style="-uslm-dtd:header">DEFINITIONS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1202/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s649b">15 U.S.C. 649b note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this subtitle—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1202/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the term “<term style="-uslm-dtd:quote">Associate Administrator</term>” means the Associate Administrator for International Trade appointed under section 22(a)(2) of the Small Business Act, as amended by this subtitle;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1202/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the term “<term style="-uslm-dtd:quote">Export Assistance Center</term>” means a one-stop shop referred to in section 2301(b)(8) of the Omnibus Trade and Competitiveness Act of 1988 (15 U.S.C. 4721(b)(8)); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1202/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">the term “<term style="-uslm-dtd:quote">rural small business concern</term>” means a small business concern located in a rural area, as that term is defined in section 1393(a)(2) of the Internal Revenue Code of 1986.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1202/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Technical and Conforming Amendments.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1202/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Definitions.—</heading><content style="-uslm-dtd:text">Section 3 of the Small Business Act (15 U.S.C. 632) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="t">“(t) </num><heading style="-uslm-dtd:header">Small Business Development Center. </heading><content style="-uslm-dtd:text">In this Act, the term ‘<term style="-uslm-dtd:quote">small business development center</term>’ means a small business development center described in section 21.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="u">“(u) </num><heading style="-uslm-dtd:header">Region of the Administration. </heading><content style="-uslm-dtd:text">In this Act, the term ‘<term style="-uslm-dtd:quote">region of the Administration</term>’ means the geographic area served by a regional office of the Administration established under section 4(a).”</content>
</subsection></quotedContent>.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1202/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Conforming amendment.—</heading><content style="-uslm-dtd:text">Section 4(b)(3)(B)(x) of the Small Business Act (15 U.S.C. 633(b)(3)(B)(x)) is amended by striking “<term style="-uslm-dtd:quote">Administration district and region</term>” and inserting “<term style="-uslm-dtd:quote">district and region of the Administration</term>”.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stB/s1203" styleType="OLC">
<num style="-uslm-dtd:enum" value="1203">SEC. 1203. </num><heading style="-uslm-dtd:header">OFFICE OF INTERNATIONAL TRADE. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1203/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Establishment.—</heading><chapeau style="-uslm-dtd:text">Section 22 of the Small Business Act (15 U.S.C. 649) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1203/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Sec. 22. (a) There</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<section style="-uslm-dtd:section" styleType="OLC">
<num style="-uslm-dtd:enum" value="22">“SEC. 22. </num><heading style="-uslm-dtd:header">OFFICE OF INTERNATIONAL TRADE </heading>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Establishment. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Office. </heading><content style="-uslm-dtd:text">There”</content>
</paragraph>
</subsection>
</section></quotedContent>; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1203/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in subsection (a)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1203/a/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in paragraph (1), as so designated, by striking the period and inserting<quotedContent style="-uslm-dtd:quoted-block" class="inline"><chapeau style="-uslm-dtd:text">“for the primary purposes of increasing—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the number of small business concerns that export; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the volume of exports by small business concerns.”</content>
</subparagraph></quotedContent>; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1203/a/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Associate administrator. </heading><content style="-uslm-dtd:text">The head of the Office shall be the Associate Administrator for International Trade, who shall be responsible to the Administrator.”</content>
</paragraph></quotedContent>.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1203/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Authority for Additional Associate Administrator.—</heading><chapeau style="-uslm-dtd:text">Section 4(b)(1) of the Small Business Act (15 U.S.C. 633(b)(1)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1203/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in the fifth sentence, by striking “<quotedText style="-uslm-dtd:quote">five Associate Administrators</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Associate Administrators</quotedText>”; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1203/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by adding at the end the following: “<quotedText style="-uslm-dtd:quote">One such Associate Administrator shall be the Associate Administrator for International Trade, who shall be the head of the Office of International Trade established under section 22.</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1203/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Discharge of International Trade Responsibilities of Administration.—</heading><content style="-uslm-dtd:text">Section 22 of the Small Business Act (15 U.S.C. 649) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">“(h) </num><heading style="-uslm-dtd:header">Discharge of International Trade Responsibilities of Administration. </heading><chapeau style="-uslm-dtd:text">The Administrator shall ensure that—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">the responsibilities of the Administration regarding international trade are carried out by the Associate Administrator;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">the Associate Administrator has sufficient resources to carry out such responsibilities; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><chapeau style="-uslm-dtd:text">the Associate Administrator has direct supervision and control over—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the staff of the Office; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">any employee of the Administration whose principal duty station is an Export Assistance Center, or any successor entity.”</content>
</subparagraph>
</paragraph>
</subsection></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1203/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Role of Associate Administrator in Carrying Out International Trade Policy.—</heading><chapeau style="-uslm-dtd:text">Section 2(b)(1) of the Small Business Act (15 U.S.C. 631(b)(1)) is amended in the matter preceding subparagraph (A)—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1203/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">the Administrator of</quotedText>” before “<quotedText style="-uslm-dtd:quote">the Small Business Administration</quotedText>”; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1203/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">through the Associate Administrator for International Trade, and</quotedText>” before “<quotedText style="-uslm-dtd:quote">in cooperation with</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1203/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Implementation Date.—</heading><content style="-uslm-dtd:text">Not later than 90 days after the date of enactment of this Act, the Administrator of the Small Business Administration shall appoint an Associate Administrator for International Trade under section 22(a) of the Small Business Act (15 U.S.C. 649(a)), as added by this section.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stB/s1204" styleType="OLC">
<num style="-uslm-dtd:enum" value="1204">SEC. 1204. </num><heading style="-uslm-dtd:header">DUTIES OF THE OFFICE OF INTERNATIONAL TRADE. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1204/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Amendments to Section 22.—</heading><chapeau style="-uslm-dtd:text">Section 22 of the Small Business Act (15 U.S.C. 649) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking subsection (b) and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Trade Distribution Network. </heading><chapeau style="-uslm-dtd:text">The Associate Administrator, working in close cooperation with the Secretary of Commerce, the United States Trade Representative, the Secretary of Agriculture, the Secretary of State, the President of the Export-Import Bank of the United States, the President of the Overseas Private Investment Corporation, Director of the United States Trade and Development Agency, and other relevant Federal agencies, small business development centers engaged in export promotion efforts, Export Assistance Centers, regional and district offices of the Administration, the small business community, and relevant State and local export promotion programs, shall—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><chapeau style="-uslm-dtd:text">maintain a distribution network, using regional and district offices of the Administration, the small business development center network, networks of women’s business centers, the Service Corps of Retired Executives authorized by section 8(b)(1), and Export Assistance Centers, for programs relating to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">trade promotion;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">trade finance;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">trade adjustment assistance;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">trade remedy assistance; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">trade data collection;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">aggressively market the programs described in paragraph (1) and disseminate information, including computerized marketing data, to small business concerns on exporting trends, market-specific growth, industry trends, and international prospects for exports;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">promote export assistance programs through the district and regional offices of the Administration, the small business development center network, Export Assistance Centers, the network of women’s business centers, chapters of the Service Corps of Retired Executives, State and local export promotion programs, and partners in the private sector; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><chapeau style="-uslm-dtd:text">give preference in hiring or approving the transfer of any employee into the Office or to a position described in subsection (c)(9) to otherwise qualified applicants who are fluent in a language in addition to English, to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">accompany small business concerns on foreign trade missions; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">translate documents, interpret conversations, and facilitate multilingual transactions, including by providing referral lists for translation services, if required.”</content>
</subparagraph>
</paragraph>
</subsection></quotedContent>;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in subsection (c)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">(c) The Office</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Promotion of Sales Opportunities. </heading><content style="-uslm-dtd:text">The Associate Administrator”</content>
</subsection></quotedContent>;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by redesignating paragraphs (1) through (8) as paragraphs (2) through (9), respectively;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by inserting before paragraph (2), as so redesignated, the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><chapeau style="-uslm-dtd:text">establish annual goals for the Office relating to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">enhancing the exporting capability of small business concerns and small manufacturers;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">facilitating technology transfers;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">enhancing programs and services to assist small business concerns and small manufacturers to compete effectively and efficiently in foreign markets;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">increasing the ability of small business concerns to access capital; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">disseminating information concerning Federal, State, and private programs and initiatives;”</content>
</subparagraph>
</paragraph></quotedContent>;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">in paragraph (2), as so redesignated, by striking “<quotedText style="-uslm-dtd:quote">mechanism for</quotedText>” and all that follows through “<quotedText style="-uslm-dtd:quote">(D) assisting</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block" class="inline"><chapeau style="-uslm-dtd:text">“mechanism for—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">identifying subsectors of the small business community with strong export potential;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">identifying areas of demand in foreign markets;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">prescreening foreign buyers for commercial and credit purposes; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">assisting”</content>
</subparagraph></quotedContent>;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">in paragraph (3), as so redesignated, by striking “<quotedText style="-uslm-dtd:quote">assist small businesses in the formation and utilization of</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">assist small business concerns in forming and using</quotedText>”;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/F" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">(F) </num><chapeau style="-uslm-dtd:text">in paragraph (4), as so redesignated—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/F/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">local</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">district</quotedText>”;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/F/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">existing</quotedText>”;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/F/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Small Business Development Center network</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">small business development center network</quotedText>”; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/F/iv" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Small Business Development Center Program</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">small business development center program</quotedText>”;</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/G" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">(G) </num><chapeau style="-uslm-dtd:text">in paragraph (5), as so redesignated—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/G/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">in subparagraph (A), by striking “<quotedText style="-uslm-dtd:quote">Gross State Produce</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Gross State Product</quotedText>”;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/G/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">in subparagraph (B), by striking “<quotedText style="-uslm-dtd:quote">SIC</quotedText>” each place it appears and inserting “<quotedText style="-uslm-dtd:quote">North American Industry Classification System</quotedText>”; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/G/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">in subparagraph (C), by striking “<quotedText style="-uslm-dtd:quote">small businesses</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">small business concerns</quotedText>”;</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/H" styleType="OLC">
<num style="-uslm-dtd:enum" value="H">(H) </num><content style="-uslm-dtd:text">in paragraph (6), as so redesignated, by striking the period at the end and inserting a semicolon;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><chapeau style="-uslm-dtd:text">in paragraph (7), as so redesignated—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/I/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">in the matter preceding subparagraph (A)—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/I/i/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">concerns</quotedText>” after “<quotedText style="-uslm-dtd:quote">small business</quotedText>”; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/I/i/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">current</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">up to date</quotedText>”;</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/I/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">in subparagraph (A), by striking “<quotedText style="-uslm-dtd:quote">Administration’s regional offices</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">regional and district offices of the Administration</quotedText>”;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/I/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">in subparagraph (B) by striking “<quotedText style="-uslm-dtd:quote">current</quotedText>”;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/I/iv" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">in subparagraph (C), by striking “<quotedText style="-uslm-dtd:quote">current</quotedText>”; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/I/v" styleType="OLC">
<num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">small businesses</quotedText>” each place that term appears and inserting “<quotedText style="-uslm-dtd:quote">small business concerns</quotedText>”;</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/J" styleType="OLC">
<num style="-uslm-dtd:enum" value="J">(J) </num><content style="-uslm-dtd:text">in paragraph (8), as so redesignated, by striking and at the end;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K" styleType="OLC">
<num style="-uslm-dtd:enum" value="K">(K) </num><chapeau style="-uslm-dtd:text">in paragraph (9), as so redesignated—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">in the matter preceding subparagraph (A)—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/i/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">full-time export development specialists to each Administration regional office and assigning</quotedText>”; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/i/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">person in each district office. Such specialists</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">individual in each district office and providing each Administration regional office with a full-time export development specialist, who</quotedText>”;</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">in subparagraph (B)—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/ii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">current</quotedText>”; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/ii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">with</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">in</quotedText>”;</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><chapeau style="-uslm-dtd:text">in subparagraph (D)—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/iii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Administration personnel involved in granting</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">personnel of the Administration involved in making</quotedText>”; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/iii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/iv" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">(iv) </num><chapeau style="-uslm-dtd:text">in subparagraph (E)—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/iv/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">small businesses’ needs</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">the needs of small business concerns</quotedText>”; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/iv/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">by striking the period at the end and inserting a semicolon;</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/v" styleType="OLC">
<num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">“(F) </num><content style="-uslm-dtd:text">participate, jointly with employees of the Office, in an annual training program that focuses on current small business needs for exporting; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">“(G) </num><content style="-uslm-dtd:text">develop and conduct training programs for exporters and lenders, in cooperation with the Export Assistance Centers, the Department of Commerce, the Department of Agriculture, small business development centers, women’s business centers, the Export-Import Bank of the United States, the Overseas Private Investment Corporation, and other relevant Federal agencies;”</content>
</subparagraph></quotedContent>; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/K/vi" styleType="OLC">
<num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">small businesses</quotedText>” each place that term appears and inserting “<quotedText style="-uslm-dtd:quote">small business concerns</quotedText>”; and</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/2/L" styleType="OLC">
<num style="-uslm-dtd:enum" value="L">(L) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="10">“(10) </num><content style="-uslm-dtd:text">make available on the website of the Administration the name and contact information of each individual described in paragraph (9);</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="11">“(11) </num><content style="-uslm-dtd:text">carry out a nationwide marketing effort using technology, online resources, training, and other strategies to promote exporting as a business development opportunity for small business concerns;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="12">“(12) </num><content style="-uslm-dtd:text">disseminate information to the small business community through regional and district offices of the Administration, the small business development center network, Export Assistance Centers, the network of women’s business centers, chapters of the Service Corps of Retired Executives authorized by section 8(b)(1), State and local export promotion programs, and partners in the private sector regarding exporting trends, market-specific growth, industry trends, and prospects for exporting; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="13">“(13) </num><content style="-uslm-dtd:text">establish and carry out training programs for the staff of the regional and district offices of the Administration and resource partners of the Administration on export promotion and providing assistance relating to exports.”</content>
</paragraph></quotedContent>;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">in subsection (d)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by redesignating paragraphs (1) through (5) as clauses (i) through (v), respectively, and adjusting the margins accordingly;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">(d) The Office</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Export Financing Programs. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Associate Administrator”</content>
</paragraph>
</subsection></quotedContent>; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/3/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">To accomplish this goal, the Office shall work</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Trade finance specialist. </heading><chapeau style="-uslm-dtd:text">To accomplish the goal established under paragraph (1), the Associate Administrator shall—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">designate at least 1 individual within the Administration as a trade finance specialist to oversee international loan programs and assist Administration employees with trade finance issues; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">work”</content>
</subparagraph>
</paragraph></quotedContent>;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">in subsection (e), by striking “<quotedText style="-uslm-dtd:quote">(e) The Office</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Trade Remedies. </heading><content style="-uslm-dtd:text">The Associate Administrator”</content>
</subsection></quotedContent>;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">by amending subsection (f) to read as follows:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Reporting Requirement. </heading><chapeau style="-uslm-dtd:text">The Associate Administrator shall submit an annual report to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives that contains—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">a description of the progress of the Office in implementing the requirements of this section;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">a detailed account of the results of export growth activities of the Administration, including the activities of each district and regional office of the Administration, based on the performance measures described in subsection (i);</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">an estimate of the total number of jobs created or retained as a result of export assistance provided by the Administration and resource partners of the Administration;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">for any travel by the staff of the Office, the destination of such travel and the benefits to the Administration and to small business concerns resulting from such travel; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">“(5) </num><content style="-uslm-dtd:text">a description of the participation by the Office in trade negotiations.”</content>
</paragraph>
</subsection></quotedContent>;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">in subsection (g), by striking “<quotedText style="-uslm-dtd:quote">(g) The Office</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="g">“(g) </num><heading style="-uslm-dtd:header">Studies. </heading><content style="-uslm-dtd:text">The Associate Administrator”</content>
</subsection></quotedContent>; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1204/a/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><content style="-uslm-dtd:text">by adding after subsection (h), as added by section 1203 of this subtitle, the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Export and Trade Counseling. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Definition. </heading><chapeau style="-uslm-dtd:text">In this subsection—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">lead small business development center</quotedText>’ means a small business development center that has received a grant from the Administration; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">lead women’s business center</quotedText>’ means a women’s business center that has received a grant from the Administration.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Certification program. </heading><content style="-uslm-dtd:text">The Administrator shall establish an export and trade counseling certification program to certify employees of lead small business development centers and lead women’s business centers in providing export assistance to small business concerns.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Number of certified employees. </heading><chapeau style="-uslm-dtd:text">The Administrator shall ensure that the number of employees of each lead small business development center who are certified in providing export assistance is not less than the lesser of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">5; or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">10 percent of the total number of employees of the lead small business development center.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Reimbursement for certification. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Subject to the availability of appropriations, the Administrator shall reimburse a lead small business development center or a lead women’s business center for costs relating to the certification of an employee of the lead small business center or lead women’s business center in providing export assistance under the program established under paragraph (2).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Limitation. </heading><content style="-uslm-dtd:text">The total amount reimbursed by the Administrator under subparagraph (A) may not exceed $350,000 in any fiscal year.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="j">“(j) </num><heading style="-uslm-dtd:header">Performance Measures. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">The Associate Administrator shall develop performance measures for the Administration to support export growth goals for the activities of the Office under this section that include—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><chapeau style="-uslm-dtd:text">the number of small business concerns that—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">receive assistance from the Administration;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">had not exported goods or services before receiving the assistance described in clause (i); and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">export goods or services;</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the number of small business concerns receiving assistance from the Administration that export goods or services to a market outside the United States into which the small business concern did not export before receiving the assistance;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">export revenues by small business concerns assisted by programs of the Administration;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">the number of small business concerns referred to an Export Assistance Center or a small business development center by the staff of the Office;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">the number of small business concerns referred to the Administration by an Export Assistance Center or a small business development center; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">“(F) </num><content style="-uslm-dtd:text">the number of small business concerns referred to the Department of Commerce, the Department of Agriculture, the Department of State, the Export-Import Bank of the United States, the Overseas Private Investment Corporation, or the United States Trade and Development Agency by the staff of the Office, an Export Assistance Center, or a small business development center.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Joint performance measures. </heading><chapeau style="-uslm-dtd:text">The Associate Administrator shall develop joint performance measures for the district offices of the Administration and the Export Assistance Centers that include the number of export loans made under—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">section 7(a)(16);</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the Export Working Capital Program established under section 7(a)(14);</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">the Preferred Lenders Program, as defined in section 7(a)(2)(C)(ii); and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">the export express program established under section 7(a)(34).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Consistency of tracking. </heading><content style="-uslm-dtd:text">The Associate Administrator, in coordination with the departments and agencies that are represented on the Trade Promotion Coordinating Committee established under section 2312 of the Export Enhancement Act of 1988 (15 U.S.C. 4727) and the small business development center network, shall develop a system to track exports by small business concerns, including information relating to the performance measures developed under paragraph (1), that is consistent with systems used by the departments and agencies and the network.”</content>
</paragraph>
</subsection></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1204/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 60 days after the date of enactment of this Act, the Administrator shall submit a report to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives on any travel by the staff of the Office of International Trade of the Administration, during the period beginning on October 1, 2004, and ending on the date of enactment of the Act, including the destination of such travel and the benefits to the Administration and to small business concerns resulting from such travel.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stB/s1205" styleType="OLC">
<num style="-uslm-dtd:enum" value="1205">SEC. 1205. </num><heading style="-uslm-dtd:header">EXPORT ASSISTANCE CENTERS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1205/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Export Assistance Centers.—</heading><content style="-uslm-dtd:text">Section 22 of the Small Business Act (15 U.S.C. 649), as amended by this subtitle, is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="k">“(k) </num><heading style="-uslm-dtd:header">Export Assistance Centers. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Export finance specialists. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Minimum number of export finance specialists. </heading><content style="-uslm-dtd:text">On and after the date that is 90 days after the date of enactment of this subsection, the Administrator, in coordination with the Secretary of Commerce, shall ensure that the number of export finance specialists is not less than the number of such employees so assigned on January 1, 2003.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Export finance specialists assigned to each region of the administration. </heading><content style="-uslm-dtd:text">On and after the date that is 2 years after the date of enactment of this subsection, the Administrator, in coordination with the Secretary of Commerce, shall ensure that there are not fewer than 3 export finance specialists in each region of the Administration.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Placement of export finance specialists. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Priority. </heading><chapeau style="-uslm-dtd:text">The Administrator shall give priority, to the maximum extent practicable, to placing employees of the Administration at any Export Assistance Center that—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">had an Administration employee assigned to the Export Assistance Center before January 2003; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">has not had an Administration employee assigned to the Export Assistance Center during the period beginning January 2003, and ending on the date of enactment of this subsection, either through retirement or reassignment.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Needs of exporters. </heading><content style="-uslm-dtd:text">The Administrator shall, to the maximum extent practicable, strategically assign Administration employees to Export Assistance Centers, based on the needs of exporters.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Rule of construction. </heading><content style="-uslm-dtd:text">Nothing in this subsection may be construed to require the Administrator to reassign or remove an export finance specialist who is assigned to an Export Assistance Center on the date of enactment of this subsection.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Goals. </heading><content style="-uslm-dtd:text">The Associate Administrator shall work with the Department of Commerce, the Export-Import Bank of the United States, and the Overseas Private Investment Corporation to establish shared annual goals for the Export Assistance Centers.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Oversight. </heading><content style="-uslm-dtd:text">The Associate Administrator shall designate an individual within the Administration to oversee all activities conducted by Administration employees assigned to Export Assistance Centers.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="l">“(l) </num><heading style="-uslm-dtd:header">Definitions. </heading><chapeau style="-uslm-dtd:text">In this section—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">Associate Administrator</quotedText>’ means the Associate Administrator for International Trade described in subsection (a)(2);</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">Export Assistance Center</quotedText>’ means a one-stop shop for United States exporters established by the United States and Foreign Commercial Service of the Department of Commerce pursuant to section 2301(b)(8) of the Omnibus Trade and Competitiveness Act of 1988 (15 U.S.C. 4721(b)(8));</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">export finance specialist</quotedText>’ means a full-time equivalent employee of the Office assigned to an Export Assistance Center to carry out the duties described in subsection (e); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">Office</quotedText>’ means the Office of International Trade established under subsection (a)(1).”</content>
</paragraph>
</subsection></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1205/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s649">15 U.S.C. 649 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Study and Report on Filling Gaps in High-and-Low-Export Volume Areas.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1205/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Study and report.—</heading><chapeau style="-uslm-dtd:text">Not later than 6 months after the date of enactment of this Act, and every 2 years thereafter, the Administrator shall—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">conduct a study of—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the volume of exports for each State;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the availability of export finance specialists in each State;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">the number of exporters in each State that are small business concerns;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/iv" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">the percentage of exporters in each State that are small business concerns;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/v" styleType="OLC">
<num style="-uslm-dtd:enum" value="v">(v) </num><chapeau style="-uslm-dtd:text">the change, if any, in the number of exporters that are small business concerns in each State—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/v/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">for the first study conducted under this subparagraph, during the 10-year period ending on the date of enactment of this Act; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/v/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">for each subsequent study, during the 10-year period ending on the date the study is commenced;</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/vi" styleType="OLC">
<num style="-uslm-dtd:enum" value="vi">(vi) </num><content style="-uslm-dtd:text">the total value of the exports in each State by small business concerns;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/vii" styleType="OLC">
<num style="-uslm-dtd:enum" value="vii">(vii) </num><content style="-uslm-dtd:text">the percentage of the total volume of exports in each State that is attributable to small business concerns; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/viii" styleType="OLC">
<num style="-uslm-dtd:enum" value="viii">(viii) </num><chapeau style="-uslm-dtd:text">the change, if any, in the percentage of the total volume of exports in each State that is attributable to small business concerns—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/viii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">for the first study conducted under this subparagraph, during the 10-year period ending on the date of enactment of this Act; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/A/viii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">for each subsequent study, during the 10-year period ending on the date the study is commenced; and</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">submit 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—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the results of the study under subparagraph (A);</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">to the extent practicable, a recommendation regarding how to eliminate gaps between the supply of and demand for export finance specialists in the 15 States that have the greatest volume of exports, based upon the most recent data available from the Department of Commerce;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/B/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">to the extent practicable, a recommendation regarding how to eliminate gaps between the supply of and demand for export finance specialists in the 15 States that have the lowest volume of exports, based upon the most recent data available from the Department of Commerce; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1205/b/1/B/iv" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">such additional information as the Administrator determines is appropriate.</content>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1205/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Definition.—</heading><content style="-uslm-dtd:text">In this subsection, the term “<quotedText style="-uslm-dtd:quote">export finance specialist</quotedText>” has the meaning given that term in section 22(l) of the Small Business Act, as added by this title.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stB/s1206" styleType="OLC">
<num style="-uslm-dtd:enum" value="1206">SEC. 1206. </num><heading style="-uslm-dtd:header">INTERNATIONAL TRADE FINANCE PROGRAMS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1206/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Loan Limits.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Total amount outstanding.—</heading><content style="-uslm-dtd:text">Section 7(a)(3)(B) of the Small Business Act (15 U.S.C. 636(a)(3)(B)) is amended by striking “<quotedText style="-uslm-dtd:quote">$1,750,000, of which not more than $1,250,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$4,500,000 (or if the gross loan amount would exceed $5,000,000), of which not more than $4,000,000</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Participation.—</heading><chapeau style="-uslm-dtd:text">Section 7(a)(2) of the Small Business Act (15 U.S.C. 636(a)(2)) is amended—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/a/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in subparagraph (A), in the matter preceding clause (i), by striking “<quotedText style="-uslm-dtd:quote">subparagraph (B)</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">subparagraphs (B), (D), and (E)</quotedText>”;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/a/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in subparagraph (D), by striking “<quotedText style="-uslm-dtd:quote">Notwithstanding subparagraph (A), in</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">In</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/a/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Participation in international trade loan. </heading><content style="-uslm-dtd:text">In an agreement to participate in a loan on a deferred basis under paragraph (16), the participation by the Administration may not exceed 90 percent.”</content>
</subparagraph></quotedContent>.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1206/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Working Capital.—</heading><chapeau style="-uslm-dtd:text">Section 7(a)(16)(A) of the Small Business Act (15 U.S.C. 636(a)(16)(A)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in the matter preceding clause (i), by striking “<quotedText style="-uslm-dtd:quote">in—</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">—</quotedText>”;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in clause (i)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/b/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">in</quotedText>” after “<quotedText style="-uslm-dtd:quote">(i)</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/b/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">or</quotedText>” at the end;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">in clause (ii)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/b/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">in</quotedText>” after “<quotedText style="-uslm-dtd:quote">(ii)</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/b/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">, including any debt that qualifies for refinancing under any other provision of this subsection; or</quotedText>”; and</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">by providing working capital.”</content>
</clause></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1206/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Collateral.—</heading><chapeau style="-uslm-dtd:text">Section 7(a)(16)(B) of the Small Business Act (15 U.S.C. 636(a)(16)(B)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Each loan</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Except as provided in clause (ii), each loan”</content>
</clause></quotedContent>; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Exception. </heading><content style="-uslm-dtd:text">A loan under this paragraph may be secured by a second lien position on the property or equipment financed by the loan or on other assets of the small business concern, if the Administrator determines the lien provides adequate assurance of the payment of the loan.”</content>
</clause></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1206/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Export Working Capital Program.—</heading><chapeau style="-uslm-dtd:text">Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (2)(D), by striking “<quotedText style="-uslm-dtd:quote">not exceed</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">be</quotedText>”; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in paragraph (14)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/d/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">(A) The Administration</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block" class="inline"><chapeau style="-uslm-dtd:text">“Export working capital program.—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Administrator”</content>
</subparagraph></quotedContent>;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/d/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">(B) When considering</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Considerations. </heading><content style="-uslm-dtd:text">When considering”</content>
</subparagraph></quotedContent>;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/d/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">(C) The Administration</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Marketing. </heading><content style="-uslm-dtd:text">The Administrator”</content>
</subparagraph></quotedContent>; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1206/d/2/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">by inserting after subparagraph (A) the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Terms. </heading>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Loan amount. </heading><content style="-uslm-dtd:text">The Administrator may not guarantee a loan under this paragraph of more than $5,000,000.</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Fees. </heading>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">For a loan under this paragraph, the Administrator shall collect the fee assessed under paragraph (23) not more frequently than once each year.</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><heading style="-uslm-dtd:header">Untapped credit. </heading><content style="-uslm-dtd:text">The Administrator may not assess a fee on capital that is not accessed by the small business concern.”</content>
</subclause>
</clause>
</subparagraph></quotedContent>.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1206/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Participation in Preferred Lenders Program.—</heading><chapeau style="-uslm-dtd:text">Section 7(a)(2)(C) of the Small Business Act (15 U.S.C. 636(a)(2)(C)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/e/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by redesignating clause (ii) as clause (iii); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1206/e/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by inserting after clause (i) the following:<quotedContent style="-uslm-dtd:quoted-block">
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Export-import bank lenders. </heading><content style="-uslm-dtd:text">Any lender that is participating in the Delegated Authority Lender Program of the Export-Import Bank of the United States (or any successor to the Program) shall be eligible to participate in the Preferred Lenders Program.”</content>
</clause></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1206/f" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Export Express Program.—</heading><content style="-uslm-dtd:text">Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="35">“(35) </num><heading style="-uslm-dtd:header">Export express program. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Definitions. </heading><chapeau style="-uslm-dtd:text">In this paragraph—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><chapeau style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">export development activity</quotedText>’ includes—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">obtaining a standby letter of credit when required as a bid bond, performance bond, or advance payment guarantee;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">participation in a trade show that takes place outside the United States;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">translation of product brochures or catalogues for use in markets outside the United States;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="IV">“(IV) </num><content style="-uslm-dtd:text">obtaining a general line of credit for export purposes;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="V">“(V) </num><content style="-uslm-dtd:text">performing a service contract from buyers located outside the United States;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="VI">“(VI) </num><content style="-uslm-dtd:text">obtaining transaction-specific financing associated with completing export orders;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="VII">“(VII) </num><content style="-uslm-dtd:text">purchasing real estate or equipment to be used in the production of goods or services for export;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="VIII">“(VIII) </num><content style="-uslm-dtd:text">providing term loans or other financing to enable a small business concern, including an export trading company and an export management company, to develop a market outside the United States; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="IX">“(IX) </num><content style="-uslm-dtd:text">acquiring, constructing, renovating, modernizing, improving, or expanding a production facility or equipment to be used in the United States in the production of goods or services for export; and</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">express loan</quotedText>’ means a loan in which a lender uses to the maximum extent practicable the loan analyses, procedures, and documentation of the lender to provide expedited processing of the loan application.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Authority. </heading><content style="-uslm-dtd:text">The Administrator may guarantee the timely payment of an express loan to a small business concern made for an export development activity.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Level of participation. </heading>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Maximum amount. </heading><content style="-uslm-dtd:text">The maximum amount of an express loan guaranteed under this paragraph shall be $500,000.</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Percentage. </heading><chapeau style="-uslm-dtd:text">For an express loan guaranteed under this paragraph, the Administrator shall guarantee—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">90 percent of a loan that is not more than $350,000; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">75 percent of a loan that is more than $350,000 and not more than $500,000.”</content>
</subclause>
</clause>
</subparagraph>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1206/g" styleType="OLC">
<num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Annual Listing of Export Finance Lenders.—</heading><content style="-uslm-dtd:text">Section 7(a)(16) of the Small Business Act (15 U.S.C. 636(a)(16)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">“(F) </num><heading style="-uslm-dtd:header">List of export finance lenders. </heading>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">Publication of list required. </heading><chapeau style="-uslm-dtd:text">The Administrator shall publish an annual list of the banks and participating lending institutions that, during the 1-year period ending on the date of publication of the list, have made loans guaranteed by the Administration under—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">this paragraph;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">paragraph (14); or</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">paragraph (34).</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Availability of list. </heading><chapeau style="-uslm-dtd:text">The Administrator shall—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">post the list published under clause (i) on the website of the Administration; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">make the list published under clause (i) available, upon request, at each district office of the Administration.”</content>
</subclause>
</clause>
</subparagraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1206/h" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">(h) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s636">15 U.S.C. 636 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Applicability.—</heading><content style="-uslm-dtd:text">The amendments made by subsections (a) through (f) shall apply with respect to any loan made after the date of enactment of this Act.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stB/s1207" styleType="OLC">
<num style="-uslm-dtd:enum" value="1207">SEC. 1207. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s649b">15 U.S.C. 649b note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">STATE TRADE AND EXPORT PROMOTION GRANT PROGRAM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">the term “<quotedText style="-uslm-dtd:quote">eligible small business concern</quotedText>” means a small business concern that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/a/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">has been in business for not less than the 1-year period ending on the date on which assistance is provided using a grant under this section;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/a/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">is operating profitably, based on operations in the United States;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/a/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">has demonstrated understanding of the costs associated with exporting and doing business with foreign purchasers, including the costs of freight forwarding, customs brokers, packing and shipping, as determined by the Associate Administrator; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/a/1/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">has in effect a strategic plan for exporting;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the term “<quotedText style="-uslm-dtd:quote">program</quotedText>” means the State Trade and Export Promotion Grant Program established under subsection (b);</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">the term “<quotedText style="-uslm-dtd:quote">small business concern owned and controlled by women</quotedText>” has the meaning given that term in section 3 of the Small Business Act (15 U.S.C. 632);</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/a/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">the term “<quotedText style="-uslm-dtd:quote">socially and economically disadvantaged small business concern</quotedText>” has the meaning given that term in section 8(a)(4)(A) of the Small Business Act (15 U.S.C. 6537(a)(4)(A)); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/a/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">the term “<quotedText style="-uslm-dtd:quote">State</quotedText>” means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, the Commonwealth of the Northern Mariana Islands, and American Samoa.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Establishment of Program.—</heading><chapeau style="-uslm-dtd:text">The Associate Administrator shall establish a 3-year trade and export promotion pilot program to be known as the State Trade and Export Promotion Grant Program, to make grants to States to carry out export programs that assist eligible small business concerns in—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">participation in a foreign trade mission;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">a foreign market sales trip;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">a subscription to services provided by the Department of Commerce;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">the payment of website translation fees;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/b/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">the design of international marketing media;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/b/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">a trade show exhibition;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/b/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><content style="-uslm-dtd:text">participation in training workshops; or</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/b/8" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">(8) </num><content style="-uslm-dtd:text">any other export initiative determined appropriate by the Associate Administrator.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Grants.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Joint review.—</heading><content style="-uslm-dtd:text">In carrying out the program, the Associate Administrator may make a grant to a State to increase the number of eligible small business concerns in the State that export or to increase the value of the exports by eligible small business concerns in the State.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Considerations.—</heading><chapeau style="-uslm-dtd:text">In making grants under this section, the Associate Administrator may give priority to an application by a State that proposes a program that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">focuses on eligible small business concerns as part of an export promotion program;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">demonstrates success in promoting exports by—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1207/c/2/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">socially and economically disadvantaged small business concerns;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1207/c/2/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">small business concerns owned or controlled by women; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stB/s1207/c/2/B/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">rural small business concerns;</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">promotes exports from a State that is not 1 of the 10 States with the highest percentage of exporters that are small business concerns, based upon the latest data available from the Department of Commerce; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/2/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">promotes new-to-market export opportunities to the People’s Republic of China for eligible small business concerns in the United States.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Limitations.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Single application.—</heading><content style="-uslm-dtd:text">A State may not submit more than 1 application for a grant under the program in any 1 fiscal year.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Proportion of amounts.—</heading><content style="-uslm-dtd:text">The total value of grants under the program made during a fiscal year to the 10 States with the highest number of exporters that are small business concerns, based upon the latest data available from the Department of Commerce, shall be not more than 40 percent of the amounts appropriated for the program for that fiscal year.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/c/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Application.—</heading><content style="-uslm-dtd:text">A State desiring a grant under the program shall submit an application at such time, in such manner, and accompanied by such information as the Associate Administrator may establish.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Competitive Basis.—</heading><content style="-uslm-dtd:text">The Associate Administrator shall award grants under the program on a competitive basis.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Federal Share.—</heading><chapeau style="-uslm-dtd:text">The Federal share of the cost of an export program carried out using a grant under the program shall be—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/e/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">for a State that has a high export volume, as determined by the Associate Administrator, not more than 65 percent; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/e/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">for a State that does not have a high export volume, as determined by the Associate Administrator, not more than 75 percent.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/f" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Non-Federal Share.—</heading><content style="-uslm-dtd:text">The non-Federal share of the cost of an export program carried using a grant under the program shall be comprised of not less than 50 percent cash and not more than 50 percent of indirect costs and in-kind contributions, except that no such costs or contributions may be derived from funds from any other Federal program.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/g" styleType="OLC">
<num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Reports.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/g/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Initial report.—</heading><chapeau style="-uslm-dtd:text">Not later than 120 days after the date of enactment of this Act, the Associate Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report, which shall include—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/g/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a description of the structure of and procedures for the program;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/g/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">a management plan for the program; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/g/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">a description of the merit-based review process to be used in the program.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/g/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Annual reports.—</heading><chapeau style="-uslm-dtd:text">The Associate Administrator shall submit an annual report to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives regarding the program, which shall include—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/g/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the number and amount of grants made under the program during the preceding year;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/g/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">a list of the States receiving a grant under the program during the preceding year, including the activities being performed with grant; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/g/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the effect of each grant on exports by eligible small business concerns in the State receiving the grant.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/h" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Reviews by Inspector General.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/h/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Inspector General of the Administration shall conduct a review of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/h/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the extent to which recipients of grants under the program are measuring the performance of the activities being conducted and the results of the measurements; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1207/h/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the overall management and effectiveness of the program.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1207/h/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than September 30, 2012, the Inspector General of the Administration shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report regarding the review conducted under paragraph (1).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">Authorization of Appropriations.—</heading><content style="-uslm-dtd:text">There is authorized to be appropriated to carry out the program $30,000,000 for each of fiscal years 2011, 2012, and 2013.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stB/s1207/j" styleType="OLC">
<num style="-uslm-dtd:enum" value="j">(j) </num><heading style="-uslm-dtd:header">Termination.—</heading><content style="-uslm-dtd:text">The authority to carry out the program shall terminate 3 years after the date on which the Associate Administrator establishes the program.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stB/s1208" styleType="OLC">
<num style="-uslm-dtd:enum" value="1208">SEC. 1208. </num><heading style="-uslm-dtd:header">RURAL EXPORT PROMOTION. </heading>
<chapeau style="-uslm-dtd:text" class="block">Not later than 6 months after the date of enactment of this Act, the Administrator, in consultation with the Secretary of Agriculture and the Secretary of Commerce, shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report that contains—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1208/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">a description of each program of the Administration that promotes exports by rural small business concerns, including—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1208/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the number of rural small business concerns served by the program;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1208/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the change, if any, in the number of rural small business concerns as a result of participation in the program during the 10-year period ending on the date of enactment of this Act;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1208/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the volume of exports by rural small business concerns that participate in the program; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1208/1/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">the change, if any, in the volume of exports by rural small businesses that participate in the program during the 10-year period ending on the date of enactment of this Act;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1208/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">a description of the coordination between programs of the Administration and other Federal programs that promote exports by rural small business concerns;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1208/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">recommendations, if any, for improving the coordination described in paragraph (2);</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1208/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><chapeau style="-uslm-dtd:text">a description of any plan by the Administration to market the international trade financing programs of the Administration through lenders that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1208/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">serve rural small business concerns; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1208/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">are associated with financing programs of the Department of Agriculture;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1208/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">recommendations, if any, for improving coordination between the counseling programs and export financing programs of the Administration, in order to increase the volume of exports by rural small business concerns; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1208/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">any additional information the Administrator determines is necessary.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stB/s1209" styleType="OLC">
<num style="-uslm-dtd:enum" value="1209">SEC. 1209. </num><heading style="-uslm-dtd:header">INTERNATIONAL TRADE COOPERATION BY SMALL BUSINESS DEVELOPMENT CENTERS. </heading>
<chapeau style="-uslm-dtd:text" class="block">Section 21(a) of the Small Business Act (15 U.S.C. 648(a)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1209/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">(2) The Small Business Development Centers</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Cooperation to provide international trade services. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Information and services. </heading><content style="-uslm-dtd:text">The small business development centers”</content>
</subparagraph>
</paragraph></quotedContent>; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stB/s1209/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in paragraph (2)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1209/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in subparagraph (A), as so designated, by inserting “<quotedText style="-uslm-dtd:quote">(including State trade agencies),</quotedText>” after “<quotedText style="-uslm-dtd:quote">local agencies</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stB/s1209/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Cooperation with state trade agencies and export assistance centers. </heading><chapeau style="-uslm-dtd:text">A small business development center that counsels a small business concern on issues relating to international trade shall—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">consult with State trade agencies and Export Assistance Centers to provide appropriate services to the small business concern; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">as necessary, refer the small business concern to a State trade agency or an Export Assistance Center for further counseling or assistance.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Definition. </heading><content style="-uslm-dtd:text">In this paragraph, the term ‘<quotedText style="-uslm-dtd:quote">Export Assistance Center</quotedText>’ has the same meaning as in section 22.”</content>
</subparagraph></quotedContent>.</content>
</subparagraph>
</paragraph>
</section>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tI/stC">
<num style="-uslm-dtd:enum" value="C">Subtitle C—</num><heading style="-uslm-dtd:header">Small Business Contracting </heading>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tI/stC/ptI">
<num style="-uslm-dtd:enum" value="I">PART I—</num><heading style="-uslm-dtd:header">CONTRACT BUNDLING </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptI/s1311" styleType="OLC">
<num style="-uslm-dtd:enum" value="1311">SEC. 1311. </num><heading style="-uslm-dtd:header">SMALL BUSINESS ACT. </heading>
<content style="-uslm-dtd:text" class="block">Section 3 of the Small Business Act (15 U.S.C. 632), as amended by section 1202, is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="v">“(v) </num><heading style="-uslm-dtd:header">Multiple Award Contract. </heading><chapeau style="-uslm-dtd:text">In this Act, the term ‘<quotedText style="-uslm-dtd:quote">multiple award contract</quotedText>’ means—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">a multiple award task order contract or delivery order contract that is entered into under the authority of sections 303H through 303K of the Federal Property and Administrative Services Act of 1949 (41 U.S.C. 253h through 253k); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">any other indefinite delivery, indefinite quantity contract that is entered into by the head of a Federal agency with 2 or more sources pursuant to the same solicitation.”</content>
</paragraph>
</subsection></quotedContent>.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptI/s1312" styleType="OLC">
<num style="-uslm-dtd:enum" value="1312">SEC. 1312. </num><heading style="-uslm-dtd:header">LEADERSHIP AND OVERSIGHT. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 15 of the Small Business Act (15 U.S.C. 644) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="q">“(q) </num><heading style="-uslm-dtd:header">Bundling Accountability Measures. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Teaming requirements. </heading><content style="-uslm-dtd:text">Each Federal agency shall include in each solicitation for any multiple award contract above the substantial bundling threshold of the Federal agency a provision soliciting bids from any responsible source, including responsible small business concerns and teams or joint ventures of small business concerns.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Policies on reduction of contract bundling. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this subsection, the Federal Acquisition Regulatory Council established under section 25(a) of the Office of Federal Procurement Policy Act (41 U.S.C. 4219(a)) shall amend the Federal Acquisition Regulation issued under section 25 of such Act to—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">establish a Government-wide policy regarding contract bundling, including regarding the solicitation of teaming and joint ventures under paragraph (1); and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">require that the policy established under clause (i) be published on the website of each Federal agency.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Rationale for contract bundling. </heading><content style="-uslm-dtd:text">Not later than 30 days after the date on which the head of a Federal agency submits data certifications to the Administrator for Federal Procurement Policy, the head of the Federal agency shall publish on the website of the Federal agency a list and rationale for any bundled contract for which the Federal agency solicited bids or that was awarded by the Federal agency.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Reporting. </heading><chapeau style="-uslm-dtd:text">Not later than 90 days after the date of enactment of this subsection, and every 3 years thereafter, the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report regarding procurement center representatives and commercial market representatives, which shall—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">identify each area for which the Administration has assigned a procurement center representative or a commercial market representative;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">explain why the Administration selected the areas identified under subparagraph (A); and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">describe the activities performed by procurement center representatives and commercial market representatives.”</content>
</subparagraph>
</paragraph>
</subsection></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Technical Correction.—</heading><content style="-uslm-dtd:text">Section 15(g) of the Small Business Act (15 U.S.C. 644(g)) is amended by striking “<quotedText style="-uslm-dtd:quote">Administrator of the Office of Federal Procurement Policy</quotedText>” each place it appears and inserting “<quotedText style="-uslm-dtd:quote">Administrator for Federal Procurement Policy</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Report.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 180 days after the date of enactment of this Act, the Comptroller General of the United States shall submit to Congress a report regarding the procurement center representative program of the Administration.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Contents.—</heading><chapeau style="-uslm-dtd:text">The report submitted under paragraph (1) shall—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/c/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">address ways to improve the effectiveness of the procurement center representative program in helping small business concerns obtain Federal contracts;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/c/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">evaluate the effectiveness of procurement center representatives and commercial marketing representatives; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/c/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">include recommendations, if any, on how to improve the procurement center representative program.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s644">15 U.S.C. 644 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Electronic Procurement Center Representative.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Administrator shall implement a 3-year pilot electronic procurement center representative program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1312/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 30 days after the pilot program under paragraph (1) ends, the Comptroller General of the United States shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report regarding the pilot program.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptI/s1313" styleType="OLC">
<num style="-uslm-dtd:enum" value="1313">SEC. 1313. </num><heading style="-uslm-dtd:header">CONSOLIDATION OF CONTRACT REQUIREMENTS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1313/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">The Small Business Act (15 U.S.C. 631 et seq.) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1313/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by redesignating section 44 as section 45; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1313/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by inserting after section 43 the following:<quotedContent style="-uslm-dtd:quoted-block">
<section style="-uslm-dtd:section" styleType="OLC">
<num style="-uslm-dtd:enum" value="44">“SEC. 44. </num><heading style="-uslm-dtd:header">CONSOLIDATION OF CONTRACT REQUIREMENTS </heading>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Definitions. </heading><chapeau style="-uslm-dtd:text">In this section—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">Chief Acquisition Officer</quotedText>’ means the employee of a Federal agency designated as the Chief Acquisition Officer for the Federal agency under section 16(a) of the Office of Federal Procurement Policy Act (41 U.S.C. 414(a));</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">consolidation of contract requirements</quotedText>’, with respect to contract requirements of a Federal agency, means a use of a solicitation to obtain offers for a single contract or a multiple award contract to satisfy 2 or more requirements of the Federal agency for goods or services that have been provided to or performed for the Federal agency under 2 or more separate contracts lower in cost than the total cost of the contract for which the offers are solicited; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">the term ‘<quotedText style="-uslm-dtd:quote">senior procurement executive</quotedText>’ means an official designated under section 16(c) of the Office of Federal Procurement Policy Act (41 U.S.C. 414(c)) as the senior procurement executive for a Federal agency.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Policy. </heading><content style="-uslm-dtd:text">The head of each Federal agency shall ensure that the decisions made by the Federal agency regarding consolidation of contract requirements of the Federal agency are made with a view to providing small business concerns with appropriate opportunities to participate as prime contractors and subcontractors in the procurements of the Federal agency.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Limitation on Use of Acquisition Strategies Involving Consolidation. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">Subject to paragraph (4), the head of a Federal agency may not carry out an acquisition strategy that includes a consolidation of contract requirements of the Federal agency with a total value of more than $2,000,000, unless the senior procurement executive or Chief Acquisition Officer for the Federal agency, before carrying out the acquisition strategy—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">conducts market research;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">identifies any alternative contracting approaches that would involve a lesser degree of consolidation of contract requirements;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">makes a written determination that the consolidation of contract requirements is necessary and justified;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">identifies any negative impact by the acquisition strategy on contracting with small business concerns; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">certifies to the head of the Federal agency that steps will be taken to include small business concerns in the acquisition strategy.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Determination that consolidation is necessary and justified. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">A senior procurement executive or Chief Acquisition Officer may determine that an acquisition strategy involving a consolidation of contract requirements is necessary and justified for the purposes of paragraph (1)(C) if the benefits of the acquisition strategy substantially exceed the benefits of each of the possible alternative contracting approaches identified under paragraph (1)(B).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Savings in administrative or personnel costs. </heading><content style="-uslm-dtd:text">For purposes of subparagraph (A), savings in administrative or personnel costs alone do not constitute a sufficient justification for a consolidation of contract requirements in a procurement unless the expected total amount of the cost savings, as determined by the senior procurement executive or Chief Acquisition Officer, is expected to be substantial in relation to the total cost of the procurement.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Benefits to be considered. </heading><chapeau style="-uslm-dtd:text">The benefits considered for the purposes of paragraphs (1) and (2) may include cost and, regardless of whether quantifiable in dollar amounts—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">quality;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">acquisition cycle;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">terms and conditions; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">any other benefit.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Department of defense. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Department of Defense and each military department shall comply with this section until after the date described in subparagraph (C).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Rule. </heading><content style="-uslm-dtd:text">After the date described in subparagraph (C), contracting by the Department of Defense or a military department shall be conducted in accordance with section 2382 of title 10, United States Code.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Date. </heading><content style="-uslm-dtd:text">The date described in this subparagraph is the date on which the Administrator determines the Department of Defense or a military department is in compliance with the Government-wide contracting goals under section 15.”</content>
</subparagraph>
</paragraph>
</subsection>
</section></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1313/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Technical and Conforming Amendment.—</heading><content style="-uslm-dtd:text">Section 2382(b)(1) of title 10, United States Code, is amended by striking “<quotedText style="-uslm-dtd:quote">An official</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Subject to section 44(c)(4), an official</quotedText>”.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptI/s1314" styleType="OLC">
<num style="-uslm-dtd:enum" value="1314">SEC. 1314. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s644">15 U.S.C. 644 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">SMALL BUSINESS TEAMS PILOT PROGRAM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the term “<quotedText style="-uslm-dtd:quote">Pilot Program</quotedText>” means the Small Business Teaming Pilot Program established under subsection (b); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">the term “<quotedText style="-uslm-dtd:quote">eligible organization</quotedText>” means a well-established national organization for small business concerns with the capacity to provide assistance to small business concerns (which may be provided with the assistance of the Administrator) relating to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/a/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">customer relations and outreach;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/a/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">team relations and outreach; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/a/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">performance measurement and quality assurance.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">The Administrator shall establish a Small Business Teaming Pilot Program for teaming and joint ventures involving small business concerns.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Grants.—</heading><content style="-uslm-dtd:text">Under the Pilot Program, the Administrator may make grants to eligible organizations to provide assistance and guidance to teams of small business concerns seeking to compete for larger procurement contracts.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Contracting Opportunities.—</heading><content style="-uslm-dtd:text">The Administrator shall work with eligible organizations receiving a grant under the Pilot Program to recommend appropriate contracting opportunities for teams or joint ventures of small business concerns.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 1 year before the date on which the authority to carry out the Pilot Program terminates under subsection (f), the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on the effectiveness of the Pilot Program.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/f" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Termination.—</heading><content style="-uslm-dtd:text">The authority to carry out the Pilot Program shall terminate 5 years after the date of enactment of this Act.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptI/s1314/g" styleType="OLC">
<num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Authorization of Appropriations.—</heading><content style="-uslm-dtd:text">There are authorized to be appropriated for grants under subsection (c) $5,000,000 for each of fiscal years 2010 through 2015.</content>
</subsection>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tI/stC/ptII">
<num style="-uslm-dtd:enum" value="II">PART II—</num><heading style="-uslm-dtd:header">SUBCONTRACTING INTEGRITY </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptII/s1321" styleType="OLC">
<num style="-uslm-dtd:enum" value="1321">SEC. 1321. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s637">15 U.S.C. 637 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">SUBCONTRACTING MISREPRESENTATIONS. </heading>
<content style="-uslm-dtd:text" class="block">Not later than 1 year after the date of enactment of this Act, the Administrator, in consultation with the Administrator for Federal Procurement Policy, shall promulgate regulations relating to, and the Federal Acquisition Regulatory Council established under section 25(a) of the Office of Federal Procurement Policy Act (41 U.S.C. 421(a)) shall amend the Federal Acquisition Regulation issued under section 25 of such Act to establish a policy on, subcontracting compliance relating to small business concerns, including assignment of compliance responsibilities between contracting offices, small business offices, and program offices and periodic oversight and review activities.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptII/s1322" styleType="OLC">
<num style="-uslm-dtd:enum" value="1322">SEC. 1322. </num><heading style="-uslm-dtd:header">SMALL BUSINESS SUBCONTRACTING IMPROVEMENTS. </heading>
<chapeau style="-uslm-dtd:text" class="block">Section 8(d)(6) of the Small Business Act (15 U.S.C. 637(d)(6)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptII/s1322/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in subparagraph (E), by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptII/s1322/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in subparagraph (F), by striking the period at the end and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptII/s1322/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end, the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">“(G) </num><chapeau style="-uslm-dtd:text">a representation that the offeror or bidder will—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">make a good faith effort to acquire articles, equipment, supplies, services, or materials, or obtain the performance of construction work from the small business concerns used in preparing and submitting to the contracting agency the bid or proposal, in the same amount and quality used in preparing and submitting the bid or proposal; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">provide to the contracting officer a written explanation if the offeror or bidder fails to acquire articles, equipment, supplies, services, or materials or obtain the performance of construction work as described in clause (i).”</content>
</clause>
</subparagraph></quotedContent>.</content>
</paragraph>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tI/stC/ptIII">
<num style="-uslm-dtd:enum" value="III">PART III—</num><heading style="-uslm-dtd:header">ACQUISITION PROCESS </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIII/s1331" styleType="OLC">
<num style="-uslm-dtd:enum" value="1331">SEC. 1331. </num><heading style="-uslm-dtd:header">RESERVATION OF PRIME CONTRACT AWARDS FOR SMALL BUSINESSES. </heading>
<content style="-uslm-dtd:text" class="block">Section 15 of the Small Business Act (15 U.S.C. 644), as amended by this Act, is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="r">“(r) </num><heading style="-uslm-dtd:header">Multiple Award Contracts. </heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this subsection, the Administrator for Federal Procurement Policy and the Administrator, in consultation with the Administrator of General Services, shall, by regulation, establish guidance under which Federal agencies may, at their discretion—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">set aside part or parts of a multiple award contract for small business concerns, including the subcategories of small business concerns identified in subsection (g)(2);</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><content style="-uslm-dtd:text">notwithstanding the fair opportunity requirements under section 2304c(b) of title 10, United States Code, and section 303J(b) of the Federal Property and Administrative Services Act of 1949 (41 U.S.C. 253j(b)), set aside orders placed against multiple award contracts for small business concerns, including the subcategories of small business concerns identified in subsection (g)(2); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">reserve 1 or more contract awards for small business concerns under full and open multiple award procurements, including the subcategories of small business concerns identified in subsection (g)(2).”</content>
</paragraph>
</subsection></quotedContent>.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIII/s1332" styleType="OLC">
<num style="-uslm-dtd:enum" value="1332">SEC. 1332. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t41/s428">41 U.S.C. 428 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">MICRO-PURCHASE GUIDELINES. </heading>
<content style="-uslm-dtd:text" class="block">Not later than 1 year after the date of enactment of this Act, the Director of the Office of Management and Budget, in coordination with the Administrator of General Services, shall issue guidelines regarding the analysis of purchase card expenditures to identify opportunities for achieving and accurately measuring fair participation of small business concerns in purchases in an amount not in excess of the micro-purchase threshold, as defined in section 32 of the Office of Federal Procurement Policy Act (41 U.S.C. 428) (in this section referred to as “<quotedText style="-uslm-dtd:quote">micro-purchases</quotedText>”), consistent with the national policy on small business participation in Federal procurements set forth in sections 2(a) and 15(g) of the Small Business Act (15 U.S.C. 631(a) and 644(g)), and dissemination of best practices for participation of small business concerns in micro-purchases.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333" styleType="OLC">
<num style="-uslm-dtd:enum" value="1333">SEC. 1333. </num><heading style="-uslm-dtd:header">AGENCY ACCOUNTABILITY. </heading>
<chapeau style="-uslm-dtd:text" class="block">Section 15(g)(2) of the Small Business Act (15 U.S.C. 644(g)(2)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">(A)</quotedText>” after “<quotedText style="-uslm-dtd:quote">(2)</quotedText>”;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Goals established</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC" class="leftIndentDecrease2">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">Goals established”</content>
</subparagraph></quotedContent>;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Whenever</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subclause style="-uslm-dtd:subclause" styleType="OLC" class="leftIndentDecrease4">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">Whenever”</content>
</subclause></quotedContent>;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">For the purpose of</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC" class="leftIndentDecrease2">
<num style="-uslm-dtd:enum" value="D">“(D) </num><content style="-uslm-dtd:text">For the purpose of”</content>
</subparagraph></quotedContent>;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">The head of each Federal agency, in attempting to attain such participation</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC" class="leftIndentDecrease2">
<num style="-uslm-dtd:enum" value="E">“(E) </num><content style="-uslm-dtd:text">The head of each Federal agency, in attempting to attain the participation described in subparagraph (D)”</content>
</subparagraph></quotedContent>.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><chapeau style="-uslm-dtd:text">in subparagraph (E), as so designated—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333/6/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">(A) contracts</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">(i) contracts</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333/6/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">(B) contracts</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">(ii) contracts</quotedText>”; and</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1333/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC" class="leftIndentDecrease2">
<num style="-uslm-dtd:enum" value="F">“(F)</num><clause style="-uslm-dtd:clause" styleType="OLC" class="inline"><num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">Each procurement employee or program manager described in clause (ii) shall communicate to the subordinates of the procurement employee or program manager the importance of achieving small business goals.</content></clause>
<clause style="-uslm-dtd:clause" styleType="OLC" class="leftIndentDecrease1">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">A procurement employee or program manager described in this clause is a senior procurement executive, senior program manager, or Director of Small and Disadvantaged Business Utilization of a Federal agency having contracting authority.”</content>
</clause>
</subparagraph></quotedContent>.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIII/s1334" styleType="OLC">
<num style="-uslm-dtd:enum" value="1334">SEC. 1334. </num><heading style="-uslm-dtd:header">PAYMENT OF SUBCONTRACTORS. </heading>
<content style="-uslm-dtd:text" class="block">Section 8(d) of the Small Business Act (15 U.S.C. 637(d)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC" class="leftIndentDecrease1">
<num style="-uslm-dtd:enum" value="12">“(12) </num><heading style="-uslm-dtd:header">Payment of Subcontractors. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">Definition. </heading><content style="-uslm-dtd:text">In this paragraph, the term ‘<quotedText style="-uslm-dtd:quote">covered contract</quotedText>’ means a contract relating to which a prime contractor is required to develop a subcontracting plan under paragraph (4) or (5).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Notice. </heading>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">A prime contractor for a covered contract shall notify in writing the contracting officer for the covered contract if the prime contractor pays a reduced price to a subcontractor for goods and services upon completion of the responsibilities of the subcontractor or the payment to a subcontractor is more than 90 days past due for goods or services provided for the covered contract for which the Federal agency has paid the prime contractor.</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Contents. </heading><content style="-uslm-dtd:text">A prime contractor shall include the reason for the reduction in a payment to or failure to pay a subcontractor in any notice made under clause (i).</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Performance. </heading><content style="-uslm-dtd:text">A contracting officer for a covered contract shall consider the unjustified failure by a prime contractor to make a full or timely payment to a subcontractor in evaluating the performance of the prime contractor.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Control of funds. </heading><content style="-uslm-dtd:text">If the contracting officer for a covered contract determines that a prime contractor has a history of unjustified, untimely payments to contractors, the contracting officer shall record the identity of the contractor in accordance with the regulations promulgated under subparagraph (E).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">“(E) </num><heading style="-uslm-dtd:header">Regulations. </heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this paragraph, the Federal Acquisition Regulatory Council established under section 25(a) of the Office of Federal Procurement Policy Act (41 U.S.C. 421(a)) shall amend the Federal Acquisition Regulation issued under section 25 of such Act to—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">describe the circumstances under which a contractor may be determined to have a history of unjustified, untimely payments to subcontractors;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">establish a process for contracting officers to record the identity of a contractor described in clause (i); and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">require the identity of a contractor described in clause (i) to be incorporated in, and made publicly available through, the Federal Awardee Performance and Integrity Information System, or any successor thereto.”</content>
</clause>
</subparagraph>
</paragraph></quotedContent>.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIII/s1335" styleType="OLC">
<num style="-uslm-dtd:enum" value="1335">SEC. 1335. </num><heading style="-uslm-dtd:header">REPEAL OF SMALL BUSINESS COMPETITIVENESS DEMONSTRATION PROGRAM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIII/s1335/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">The Business Opportunity Development Reform Act of 1988 (Public Law 100-656) is amended by striking title VII (15 U.S.C. 644 note).</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIII/s1335/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s644">15 U.S.C. 644 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Effective Date and Applicability.—</heading><chapeau style="-uslm-dtd:text">The amendment made by this section—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1335/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">shall take effect on the date of enactment of this Act; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIII/s1335/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">apply to the first full fiscal year after the date of enactment of this Act.</content>
</paragraph>
</subsection>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tI/stC/ptIV">
<num style="-uslm-dtd:enum" value="IV">PART IV—</num><heading style="-uslm-dtd:header">SMALL BUSINESS SIZE AND STATUS INTEGRITY </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIV/s1341" styleType="OLC">
<num style="-uslm-dtd:enum" value="1341">SEC. 1341. </num><heading style="-uslm-dtd:header">POLICY AND PRESUMPTIONS. </heading>
<content style="-uslm-dtd:text" class="block">Section 3 of the Small Business Act (15 U.S.C. 632), as amended by section 1311, is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="w">“(w) </num><heading style="-uslm-dtd:header">Presumption. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">In every contract, subcontract, cooperative agreement, cooperative research and development agreement, or grant which is set aside, reserved, or otherwise classified as intended for award to small business concerns, there shall be a presumption of loss to the United States based on the total amount expended on the contract, subcontract, cooperative agreement, cooperative research and development agreement, or grant whenever it is established that a business concern other than a small business concern willfully sought and received the award by misrepresentation.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Deemed certifications. </heading><chapeau style="-uslm-dtd:text">The following actions shall be deemed affirmative, willful, and intentional certifications of small business size and status:</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">Submission of a bid or proposal for a Federal grant, contract, subcontract, cooperative agreement, or cooperative research and development agreement reserved, set aside, or otherwise classified as intended for award to small business concerns.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">Submission of a bid or proposal for a Federal grant, contract, subcontract, cooperative agreement, or cooperative research and development agreement which in any way encourages a Federal agency to classify the bid or proposal, if awarded, as an award to a small business concern.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">Registration on any Federal electronic database for the purpose of being considered for award of a Federal grant, contract, subcontract, cooperative agreement, or cooperative research agreement, as a small business concern.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Certification by signature of responsible official. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Each solicitation, bid, or application for a Federal contract, subcontract, or grant shall contain a certification concerning the small business size and status of a business concern seeking the Federal contract, subcontract, or grant.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Content of certifications. </heading><content style="-uslm-dtd:text">A certification that a business concern qualifies as a small business concern of the exact size and status claimed by the business concern for purposes of bidding on a Federal contract or subcontract, or applying for a Federal grant, shall contain the signature of an authorized official on the same page on which the certification is contained.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Regulations. </heading><content style="-uslm-dtd:text">The Administrator shall promulgate regulations to provide adequate protections to individuals and business concerns from liability under this subsection in cases of unintentional errors, technical malfunctions, and other similar situations.”</content>
</paragraph>
</subsection></quotedContent>.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIV/s1342" styleType="OLC">
<num style="-uslm-dtd:enum" value="1342">SEC. 1342. </num><heading style="-uslm-dtd:header">ANNUAL CERTIFICATION. </heading>
<content style="-uslm-dtd:text" class="block">Section 3 of the Small Business Act (15 U.S.C. 632), as amended by section 1341, is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="x">“(x) </num><heading style="-uslm-dtd:header">Annual Certification. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Each business certified as a small business concern under this Act shall annually certify its small business size and, if appropriate, its small business status, by means of a confirming entry on the Online Representations and Certifications Application database of the Administration, or any successor thereto.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Regulations. </heading><chapeau style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this subsection, the Administrator, in consultation with the Inspector General and the Chief Counsel for Advocacy of the Administration, shall promulgate regulations to ensure that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">no business concern continues to be certified as a small business concern on the Online Representations and Certifications Application database of the Administration, or any successor thereto, without fulfilling the requirements for annual certification under this subsection; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the requirements of this subsection are implemented in a manner presenting the least possible regulatory burden on small business concerns.”</content>
</subparagraph>
</paragraph>
</subsection></quotedContent>.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIV/s1343" styleType="OLC">
<num style="-uslm-dtd:enum" value="1343">SEC. 1343. </num><heading style="-uslm-dtd:header">TRAINING FOR CONTRACTING AND ENFORCEMENT PERSONNEL. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1343/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t41/s433">41 U.S.C. 433 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Federal Acquisition Institute, in consultation with the Administrator for Federal Procurement Policy, the Defense Acquisition University, and the Administrator, shall develop courses for acquisition personnel concerning proper classification of business concerns and small business size and status for purposes of Federal contracts, subcontracts, grants, cooperative agreements, and cooperative research and development agreements.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1343/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Policy on Prosecutions of Small Business Size and Status Fraud.—</heading><content style="-uslm-dtd:text">Section 3 of the Small Business Act (15 U.S.C. 632), as amended by section 1342, is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="y">“(y) </num><heading style="-uslm-dtd:header">Policy on Prosecutions of Small Business Size and Status Fraud. </heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this subsection, the Administrator, in consultation with the Attorney General, shall issue a Government-wide policy on prosecution of small business size and status fraud, which shall direct Federal agencies to appropriately publicize the policy.”</content>
</subsection></quotedContent>.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344" styleType="OLC">
<num style="-uslm-dtd:enum" value="1344">SEC. 1344. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s632">15 U.S.C. 632 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">UPDATED SIZE STANDARDS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Rolling Review.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Administrator shall—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">during the 18-month period beginning on the date of enactment of this Act, and during every 18-month period thereafter, conduct a detailed review of not less than ⅓ of the size standards for small business concerns established under section 3(a)(2) of the Small Business Act (15 U.S.C. 632(a)(2)), which shall include holding not less than 2 public forums located in different geographic regions of the United States;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">after completing each review under subparagraph (A) make appropriate adjustments to the size standards established under section 3(a)(2) of the Small Business Act to reflect market conditions;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><chapeau style="-uslm-dtd:text">make publicly available—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/1/C/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">information regarding the factors evaluated as part of each review conducted under subparagraph (A); and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/1/C/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">information regarding the criteria used for any revised size standards promulgated under subparagraph (B); and</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/1/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><chapeau style="-uslm-dtd:text">not later than 30 days after the date on which the Administrator completes each review under subparagraph (A), submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives and make publicly available a report regarding the review, including why the Administrator—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/1/D/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">used the factors and criteria described in subparagraph (C); and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/1/D/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">adjusted or did not adjust each size standard that was reviewed under the review.</content>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Complete review of size standards.—</heading><content style="-uslm-dtd:text">The Administrator shall ensure that each size standard for small business concerns established under section 3(a)(2) of the Small Business Act (15 U.S.C. 632(a)(2)) is reviewed under paragraph (1) not less frequently than once every 5 years.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1344/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Rules.—</heading><content style="-uslm-dtd:text">Not later than 1 year after the date of enactment of this Act, the Administrator shall promulgate rules for conducting the reviews required under subsection (a).</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIV/s1345" styleType="OLC">
<num style="-uslm-dtd:enum" value="1345">SEC. 1345. </num><heading style="-uslm-dtd:header">STUDY AND REPORT ON THE MENTOR-PROTEGE PROGRAM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1345/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">The Comptroller General of the United States shall conduct a study of the mentor-protege program of the Administration for small business concerns participating in programs under section 8(a) of the Small Business Act (15 U.S.C. 637(a)), and other relationships and strategic alliances pairing a larger business and a small business concern partner to gain access to Federal Government contracts, to determine whether the programs and relationships are effectively supporting the goal of increasing the participation of small business concerns in Government contracting.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1345/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Matters To Be Studied.—</heading><chapeau style="-uslm-dtd:text">The study conducted under this section shall include—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1345/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">a review of a broad cross-section of industries; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1345/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">an evaluation of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1345/b/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">how each Federal agency carrying out a program described in subsection (a) administers and monitors the program;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1345/b/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">whether there are systems in place to ensure that the mentor-protege relationship, or similar affiliation, promotes real gain to the protege, and is not just a mechanism to enable participants that would not otherwise qualify under section 8(a) of the Small Business Act (15 U.S.C. 637(a)) to receive contracts under that section; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1345/b/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the degree to which protege businesses become able to compete for Federal contracts without the assistance of a mentor.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1345/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Report to Congress.—</heading><content style="-uslm-dtd:text">Not later than 180 days after the date of enactment of this Act, the Comptroller General shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on the results of the study conducted under this section.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIV/s1346" styleType="OLC">
<num style="-uslm-dtd:enum" value="1346">SEC. 1346. </num><heading style="-uslm-dtd:header">CONTRACTING GOALS REPORTS. </heading>
<content style="-uslm-dtd:text" class="block">Section 15(h)(2) of the Small Business Act (15 U.S.C. 644(h)(2)) is amended by striking “<quotedText style="-uslm-dtd:quote">submit them</quotedText>” and all that follows through “<quotedText style="-uslm-dtd:quote">the following:</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">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 the compilation and analysis, which shall include the following:</quotedText>”.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347" styleType="OLC">
<num style="-uslm-dtd:enum" value="1347">SEC. 1347. </num><heading style="-uslm-dtd:header">SMALL BUSINESS CONTRACTING PARITY. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s637">15 U.S.C. 637 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the terms “<quotedText style="-uslm-dtd:quote">Administration</quotedText>” and “<quotedText style="-uslm-dtd:quote">Administrator</quotedText>” mean the Small Business Administration and the Administrator thereof, respectively; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the terms “<quotedText style="-uslm-dtd:quote">HUBZone small business concern</quotedText>”, “<quotedText style="-uslm-dtd:quote">small business concern</quotedText>”, “<quotedText style="-uslm-dtd:quote">small business concern owned and controlled by service-disabled veterans</quotedText>”, and “<quotedText style="-uslm-dtd:quote">small business concern owned and controlled by women</quotedText>” have the same meanings as in section 3 of the Small Business Act (15 U.S.C. 632).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Contracting Improvements.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Contracting opportunities.—</heading><content style="-uslm-dtd:text">Section 31(b)(2)(B) of the Small Business Act (15 U.S.C. 657a(b)(2)(B)) is amended by striking “<quotedText style="-uslm-dtd:quote">shall</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">may</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Contracting goals.—</heading><content style="-uslm-dtd:text">Section 15(g)(1) of the Small Business Act (15 U.S.C. 644(g)(1)) is amended in the fourth sentence by inserting “<quotedText style="-uslm-dtd:quote">and subcontract</quotedText>” after “<quotedText style="-uslm-dtd:quote">not less than 3 percent of the total value of all prime contract</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Mentor-protege programs.—</heading><content style="-uslm-dtd:text">The Administrator may establish mentor-protege programs for small business concerns owned and controlled by service-disabled veterans, small business concerns owned and controlled by women, and HUBZone small business concerns modeled on the mentor-protege program of the Administration for small business concerns participating in programs under section 8(a) of the Small Business Act (15 U.S.C. 637(a)).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Small Business Contracting Programs Parity.—</heading><chapeau style="-uslm-dtd:text">Section 31(b)(2) of the Small Business Act (15 U.S.C. 657a(b)(2)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in the matter preceding subparagraph (A), by striking “<quotedText style="-uslm-dtd:quote">Notwithstanding any other provision of law—</quotedText>”;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in subparagraph (A)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/c/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in the matter preceding clause (i), by striking “<quotedText style="-uslm-dtd:quote">a contracting</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Sole source contracts.—A contracting</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/c/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in clause (iii), by striking the semicolon at the end and inserting a period;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/c/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">in subparagraph (B)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/c/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">a contract opportunity shall</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Restricted competition.—A contract opportunity may</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/c/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">; and</quotedText>” and inserting a period; and</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stC/ptIV/s1347/c/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">in subparagraph (C), by striking “<quotedText style="-uslm-dtd:quote">not later</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Appeals.—Not later</quotedText>”.</content>
</paragraph>
</subsection>
</section>
</part>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tI/stD">
<num style="-uslm-dtd:enum" value="D">Subtitle D—</num><heading style="-uslm-dtd:header">Small Business Management and Counseling Assistance </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stD/s1401" styleType="OLC">
<num style="-uslm-dtd:enum" value="1401">SEC. 1401. </num><heading style="-uslm-dtd:header">MATCHING REQUIREMENTS UNDER SMALL BUSINESS PROGRAMS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stD/s1401/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Microloan Program.—</heading><chapeau style="-uslm-dtd:text">Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stD/s1401/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">in paragraph (3)(B)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1401/a/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">As a condition</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Subject to clause (ii), as a condition”</content>
</clause></quotedContent>;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1401/a/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">the Administration</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">the Administrator</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1401/a/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Waiver of non-federal share. </heading>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Upon request by an intermediary, and in accordance with this clause, the Administrator may waive, in whole or in part, the requirement to obtain non-Federal funds under clause (i) for a fiscal year. The Administrator may waive the requirement to obtain non-Federal funds under this clause for successive fiscal years.</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><heading style="-uslm-dtd:header">Considerations. </heading><chapeau style="-uslm-dtd:text">In determining whether to waive the requirement to obtain non-Federal funds under this clause, the Administrator shall consider—</chapeau>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">“(aa) </num><content style="-uslm-dtd:text">the economic conditions affecting the intermediary;</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">“(bb) </num><content style="-uslm-dtd:text">the impact a waiver under this clause would have on the credibility of the microloan program under this subsection;</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="cc">“(cc) </num><content style="-uslm-dtd:text">the demonstrated ability of the intermediary to raise non-Federal funds; and</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="dd">“(dd) </num><content style="-uslm-dtd:text">the performance of the intermediary.</content>
</item>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><heading style="-uslm-dtd:header">Limitations. </heading>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">“(aa) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Administrator may not waive the requirement to obtain non-Federal funds under this clause if granting the waiver would undermine the credibility of the microloan program under this subsection.</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">“(bb) </num><heading style="-uslm-dtd:header">Sunset. </heading><content style="-uslm-dtd:text">The Administrator may not waive the requirement to obtain non-Federal funds under this clause for fiscal year 2013 or any fiscal year thereafter.”</content>
</item>
</subclause>
</clause></quotedContent>; and</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stD/s1401/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in paragraph (4)(B)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1401/a/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">As a condition</quotedText>” and all that follows through “<quotedText style="-uslm-dtd:quote">the Administration shall require</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Subject to clause (ii), as a condition of a grant made under subparagraph (A), the Administrator shall require”</content>
</clause></quotedContent>; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1401/a/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Waiver of non-federal share. </heading>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Upon request by an intermediary, and in accordance with this clause, the Administrator may waive, in whole or in part, the requirement to obtain non-Federal funds under clause (i) for a fiscal year. The Administrator may waive the requirement to obtain non-Federal funds under this clause for successive fiscal years.</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><heading style="-uslm-dtd:header">Considerations. </heading><chapeau style="-uslm-dtd:text">In determining whether to waive the requirement to obtain non-Federal funds under this clause, the Administrator shall consider—</chapeau>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">“(aa) </num><content style="-uslm-dtd:text">the economic conditions affecting the intermediary;</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">“(bb) </num><content style="-uslm-dtd:text">the impact a waiver under this clause would have on the credibility of the microloan program under this subsection;</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="cc">“(cc) </num><content style="-uslm-dtd:text">the demonstrated ability of the intermediary to raise non-Federal funds; and</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="dd">“(dd) </num><content style="-uslm-dtd:text">the performance of the intermediary.</content>
</item>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><heading style="-uslm-dtd:header">Limitations. </heading>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">“(aa) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Administrator may not waive the requirement to obtain non-Federal funds under this clause if granting the waiver would undermine the credibility of the microloan program under this subsection.</content>
</item>
<item style="-uslm-dtd:item" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">“(bb) </num><heading style="-uslm-dtd:header">Sunset. </heading><content style="-uslm-dtd:text">The Administrator may not waive the requirement to obtain non-Federal funds under this clause for fiscal year 2013 or any fiscal year thereafter.”</content>
</item>
</subclause>
</clause></quotedContent>.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stD/s1401/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Women’s Business Center Program.—</heading><chapeau style="-uslm-dtd:text">Section 29(c) of the Small Business Act (15 U.S.C. 656(c)) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stD/s1401/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (1), by striking “<quotedText style="-uslm-dtd:quote">As a condition</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Subject to paragraph (5), as a condition</quotedText>”; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stD/s1401/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Waiver of non-federal share relating to technical assistance and counseling. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Upon request by a recipient organization, and in accordance with this paragraph, the Administrator may waive, in whole or in part, the requirement to obtain non-Federal funds under this subsection for the technical assistance and counseling activities of the recipient organization carried out using financial assistance under this section for a fiscal year. The Administrator may waive the requirement to obtain non-Federal funds under this paragraph for successive fiscal years.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Considerations. </heading><chapeau style="-uslm-dtd:text">In determining whether to waive the requirement to obtain non-Federal funds under this paragraph, the Administrator shall consider—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">the economic conditions affecting the recipient organization;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">the impact a waiver under this clause would have on the credibility of the women’s business center program under this section;</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">the demonstrated ability of the recipient organization to raise non-Federal funds; and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">the performance of the recipient organization.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Limitations. </heading>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">The Administrator may not waive the requirement to obtain non-Federal funds under this paragraph if granting the waiver would undermine the credibility of the women’s business center program under this section.</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><heading style="-uslm-dtd:header">Sunset. </heading><content style="-uslm-dtd:text">The Administrator may not waive the requirement to obtain non-Federal funds under this paragraph for fiscal year 2013 or any fiscal year thereafter.”</content>
</clause>
</subparagraph>
</paragraph></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stD/s1401/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Prospective Repeals.—</heading><chapeau style="-uslm-dtd:text">Effective October 1, 2012, the Small Business Act (15 U.S.C. 631 et seq.) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stD/s1401/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">in section 7(m) (15 U.S.C. 636(m))—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1401/c/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">in paragraph (3)(B)—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stD/s1401/c/1/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Intermediary contribution.—</quotedText>” and all that follows through “<quotedText style="-uslm-dtd:quote">Subject to clause (ii), as</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Intermediary contribution.—As</quotedText>”; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stD/s1401/c/1/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by striking clause (ii); and</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1401/c/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">in paragraph (4)(B)—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stD/s1401/c/1/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">Contribution.—</quotedText>” and all that follows through “<quotedText style="-uslm-dtd:quote">Subject to clause (ii), as</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Contribution.—As</quotedText>”; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tI/stD/s1401/c/1/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">by striking clause (ii); and</content>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stD/s1401/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">in section 29(c) (15 U.S.C. 656(c))—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1401/c/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">in paragraph (1), by striking “<quotedText style="-uslm-dtd:quote">Subject to paragraph (5), as</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">As</quotedText>”; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1401/c/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking paragraph (5).</content>
</subparagraph>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stD/s1402" styleType="OLC">
<num style="-uslm-dtd:enum" value="1402">SEC. 1402. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s648b">15 U.S.C. 648b</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">GRANTS FOR SBDCS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stD/s1402/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">The Administrator may make grants to small business development centers under section 21 of the Small Business Act (15 U.S.C. 648) to provide targeted technical assistance to small business concerns seeking access to capital or credit, Federal procurement opportunities, energy efficiency audits to reduce energy bills, opportunities to export products or provide services to foreign customers, adopting, making innovations in, and using broadband technologies, or other assistance.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stD/s1402/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Allocation.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stD/s1402/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Subject to paragraph (2), and notwithstanding the requirements of section 21(a)(4)(C)(iii) of the Small Business Act (15 U.S.C. 648(a)(4)(C)(iii)), the amount appropriated to carry out this section shall be allocated under the formula under section 21(a)(4)(C)(i) of that Act.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stD/s1402/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Minimum funding.—</heading><content style="-uslm-dtd:text">The amount made available under this section to each State shall be not less than $325,000.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stD/s1402/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Types of uses.—</heading><chapeau style="-uslm-dtd:text">Of the total amount of the grants awarded by the Administrator under this section—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1402/b/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">not less than 80 percent shall be used for counseling of small business concerns; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stD/s1402/b/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">not more than 20 percent may be used for classes or seminars.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stD/s1402/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">No Non-Federal Share Required.—</heading><content style="-uslm-dtd:text">Notwithstanding section 21(a)(4)(A) of the Small Business Act (15 U.S.C. 648(a)(4)(A)), the recipient of a grant made under this section shall not be required to provide non-Federal matching funds.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stD/s1402/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Distribution.—</heading><content style="-uslm-dtd:text">Not later than 30 days after the date on which amounts are appropriated to carry out this section, the Administrator shall disburse the total amount appropriated.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stD/s1402/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Authorization of Appropriations.—</heading><content style="-uslm-dtd:text">There is authorized to be appropriated to the Administrator $50,000,000 to carry out this section.</content>
</subsection>
</section>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tI/stE">
<num style="-uslm-dtd:enum" value="E">Subtitle E—</num><heading style="-uslm-dtd:header">Disaster Loan Improvement </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stE/s1501" styleType="OLC">
<num style="-uslm-dtd:enum" value="1501">SEC. 1501. </num><heading style="-uslm-dtd:header">AQUACULTURE BUSINESS DISASTER ASSISTANCE. </heading>
<content style="-uslm-dtd:text" class="block">Section 3 of the Small Business Act (15 U.S.C. 632), as amended by section 1343, is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="z">“(z) </num><heading style="-uslm-dtd:header">Aquaculture Business Disaster Assistance. </heading><content style="-uslm-dtd:text">Subject to section 18(a) and notwithstanding section 18(b)(1), the Administrator may provide disaster assistance under section 7(b)(2) to aquaculture enterprises that are small businesses.”</content>
</subsection></quotedContent>.</content>
</section>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tI/stF">
<num style="-uslm-dtd:enum" value="F">Subtitle F—</num><heading style="-uslm-dtd:header">Small Business Regulatory Relief </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stF/s1601" styleType="OLC">
<num style="-uslm-dtd:enum" value="1601">SEC. 1601. </num><heading style="-uslm-dtd:header">REQUIREMENTS PROVIDING FOR MORE DETAILED ANALYSES. </heading>
<chapeau style="-uslm-dtd:text" class="block">Section 604(a) of title 5, United States Code, is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stF/s1601/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (1), by striking “<quotedText style="-uslm-dtd:quote">succinct</quotedText>”;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stF/s1601/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (2), by striking “<quotedText style="-uslm-dtd:quote">summary</quotedText>” each place it appears and inserting “<quotedText style="-uslm-dtd:quote">statement</quotedText>”;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stF/s1601/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by redesignating paragraphs (3), (4), and (5) as paragraphs (4), (5), and (6), respectively; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stF/s1601/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">by inserting after paragraph (2) the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><content style="-uslm-dtd:text">the response of the agency to any comments filed by the Chief Counsel for Advocacy of the Small Business Administration in response to the proposed rule, and a detailed statement of any change made to the proposed rule in the final rule as a result of the comments;”</content>
</paragraph></quotedContent>.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stF/s1602" styleType="OLC">
<num style="-uslm-dtd:enum" value="1602">SEC. 1602. </num><heading style="-uslm-dtd:header">OFFICE OF ADVOCACY. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stF/s1602/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">Section 203 of Public Law 94-305 (15 U.S.C. 634c) is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stF/s1602/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">in paragraph (4), by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stF/s1602/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">in paragraph (5), by striking the period and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stF/s1602/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">“(6) </num><content style="-uslm-dtd:text">carry out the responsibilities of the Office of Advocacy under chapter 6 of title 5, United States Code.”</content>
</paragraph></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stF/s1602/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Budgetary Line Item and Authorization of Appropriations.—</heading><content style="-uslm-dtd:text">Title II of Public Law 94-305 (15 U.S.C. 634a et seq.) is amended by striking section 207 and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<section style="-uslm-dtd:section" styleType="OLC">
<num style="-uslm-dtd:enum" value="207">“SEC. 207. </num><heading style="-uslm-dtd:header">BUDGETARY LINE ITEM AND AUTHORIZATION OF APPROPRIATIONS </heading>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Appropriation Requests. </heading><content style="-uslm-dtd:text">Each budget of the United States Government submitted by the President under section 1105 of title 31, United States Code, shall include a separate statement of the amount of appropriations requested for the Office of Advocacy of the Small Business Administration, which shall be designated in a separate account in the General Fund of the Treasury.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Administrative Operations. </heading><content style="-uslm-dtd:text">The Administrator of the Small Business Administration shall provide the Office of Advocacy with appropriate and adequate office space at central and field office locations, together with such equipment, operating budget, and communications facilities and services as may be necessary, and shall provide necessary maintenance services for such offices and the equipment and facilities located in such offices.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Authorization of Appropriations. </heading><content style="-uslm-dtd:text">There are authorized to be appropriated such sums as are necessary to carry out this title. Any amount appropriated under this subsection shall remain available, without fiscal year limitation, until expended.”</content>
</subsection>
</section></quotedContent>.</content>
</subsection>
</section>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tI/stG">
<num style="-uslm-dtd:enum" value="G">Subtitle G—</num><heading style="-uslm-dtd:header">Appropriations Provisions </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stG/s1701" styleType="OLC">
<num style="-uslm-dtd:enum" value="1701">SEC. 1701. </num><heading style="-uslm-dtd:header">SALARIES AND EXPENSES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stG/s1701/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Appropriation.—</heading><chapeau style="-uslm-dtd:text">There is appropriated, out of any money in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2010, $150,000,000, to remain available until September 30, 2012, for an additional amount for the appropriations account appropriated under the heading “<quotedText style="-uslm-dtd:quote">salaries and expenses</quotedText>” under the heading “<quotedText style="-uslm-dtd:quote">Small Business Administration</quotedText>”, of which—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1701/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">$50,000,000 is for grants to small business development centers authorized under section 1402;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1701/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">$1,000,000 is for the costs of administering grants authorized under section 1402;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1701/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">$30,000,000 is for grants to States for fiscal year 2011 to carry out export programs that assist small business concerns authorized under section 1207;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1701/a/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">$30,000,000 is for grants to States for fiscal year 2012 to carry out export programs that assist small business concerns authorized under section 1207;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1701/a/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">$2,500,000 is for the costs of administering grants authorized under section 1207;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1701/a/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">$5,000,000 is for grants for fiscal year 2011 under the Small Business Teaming Pilot Program under section 1314; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1701/a/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><content style="-uslm-dtd:text">$5,000,000 is for grants for fiscal year 2012 under the Small Business Teaming Pilot Program under section 1314.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stG/s1701/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 60 days after the date of enactment of this Act, the Administrator shall submit to the Committee on Appropriations of the Senate and the Committee on Appropriations of the House of Representatives a detailed expenditure plan for using the funds provided under subsection (a).</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stG/s1702" styleType="OLC">
<num style="-uslm-dtd:enum" value="1702">SEC. 1702. </num><heading style="-uslm-dtd:header">BUSINESS LOANS PROGRAM ACCOUNT. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stG/s1702/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">There is appropriated, out of any money in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2010, for an additional amount for the appropriations account appropriated under the heading “<quotedText style="-uslm-dtd:quote">business loans program account</quotedText>” under the heading “<quotedText style="-uslm-dtd:quote">Small Business Administration</quotedText>”—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1702/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">$8,000,000, to remain available until September 30, 2012, for fiscal year 2011 for the cost of direct loans authorized under section 7(l) of the Small Business Act, as added by section 1131 of this title, including the cost of modifying the loans;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1702/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">$8,000,000, to remain available until September 30, 2012, for fiscal year 2012 for the cost of direct loans authorized under section 7(l) of the Small Business Act, as added by section 1131 of this title, including the cost of modifying the loans;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1702/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">$6,500,000, to remain available until September 30, 2012, for administrative expenses to carry out the direct loan program authorized under section 7(l) of the Small Business Act, as added by section 1131 of this title, which may be transferred to and merged with the appropriations account appropriated under the heading “<quotedText style="-uslm-dtd:quote">salaries and expenses</quotedText>” under the heading “<quotedText style="-uslm-dtd:quote">Small Business Administration</quotedText>”; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1702/a/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">$15,000,000, to remain available until September 30, 2011, for the cost of guaranteed loans as authorized under section 7(a) of the Small Business Act, including the cost of modifying the loans.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stG/s1702/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Definition.—</heading><content style="-uslm-dtd:text">In this section, the term “<quotedText style="-uslm-dtd:quote">cost</quotedText>” has the meaning given that term in section 502 of the Congressional Budget Act of 1974.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stG/s1703" styleType="OLC">
<num style="-uslm-dtd:enum" value="1703">SEC. 1703. </num><heading style="-uslm-dtd:header">COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND PROGRAM ACCOUNT. </heading>
<content style="-uslm-dtd:text" class="block">There is appropriated, out of any money in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2010, for an additional amount for the appropriations account appropriated under the heading “<quotedText style="-uslm-dtd:quote">community development financial institutions fund program account</quotedText>” under the heading “<quotedText style="-uslm-dtd:quote">DEPARTMENT OF THE TREASURY</quotedText>”, $13,500,000, to remain available until September 30, 2012, for the costs of administering guarantees for bonds and notes as authorized under section 114A of the Riegle Community Development and Regulatory Improvement Act of 1994, as added by section 1134 of this Act.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tI/stG/s1704" styleType="OLC">
<num style="-uslm-dtd:enum" value="1704">SEC. 1704. </num><heading style="-uslm-dtd:header">SMALL BUSINESS LOAN GUARANTEE ENHANCEMENT EXTENSIONS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stG/s1704/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Extension of Programs.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1704/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">There is appropriated, out of any funds in the Treasury not otherwise appropriated, for an additional amount for “<quotedText style="-uslm-dtd:quote">Small Business Administration—Business Loans Program Account</quotedText>”, $505,000,000, to remain available through March 4, 2011, for the cost of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stG/s1704/a/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">fee reductions and eliminations under section 501 of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 151), as amended by this Act; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tI/stG/s1704/a/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">loan guarantees under section 502 of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 152), as amended by this Act.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tI/stG/s1704/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Cost.—</heading><content style="-uslm-dtd:text">For purposes of this subsection, the term “<quotedText style="-uslm-dtd:quote">cost</quotedText>” has the same meaning as in section 502 of the Congressional Budget Act of 1974 (2 U.S.C. 661a).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stG/s1704/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Administrative Expenses.—</heading><content style="-uslm-dtd:text">There is appropriated for an additional amount, out of any funds in the Treasury not otherwise appropriated, for administrative expenses to carry out sections 501 and 502 of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5), $5,000,000, to remain available until expended, which may be transferred and merged with the appropriation for “<quotedText style="-uslm-dtd:quote">Small Business Administration—Salaries and Expenses</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tI/stG/s1704/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><content style="-uslm-dtd:text">For purposes of the loans made under this section, the maximum guaranteed amount outstanding to the borrower may not exceed $4,500,000.</content>
</subsection>
</section>
</subtitle>
<num style="-uslm-dtd:enum" value="II">TITLE II—</num><heading style="-uslm-dtd:header">TAX PROVISIONS </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/s2001" styleType="OLC">
<num style="-uslm-dtd:enum" value="2001">SEC. 2001. </num><heading style="-uslm-dtd:header">SHORT TITLE. </heading>
<content style="-uslm-dtd:text" class="block">This title may be cited as the “<shortTitle style="-uslm-dtd:quote"><inline style="-uslm-dtd:short-title">Creating Small Business Jobs Act of 2010</inline></shortTitle>”.</content>
</section>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tII/stA">
<num style="-uslm-dtd:enum" value="A">Subtitle A—</num><heading style="-uslm-dtd:header">Small Business Relief </heading>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tII/stA/ptI">
<num style="-uslm-dtd:enum" value="I">PART I—</num><heading style="-uslm-dtd:header">PROVIDING ACCESS TO CAPITAL </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptI/s2011" styleType="OLC">
<num style="-uslm-dtd:enum" value="2011">SEC. 2011. </num><heading style="-uslm-dtd:header">TEMPORARY EXCLUSION OF 100 PERCENT OF GAIN ON CERTAIN SMALL BUSINESS STOCK. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2011/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Subsection (a) of section 1202 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">100 PERCENT EXCLUSION FOR STOCK ACQUIRED DURING CERTAIN PERIODS IN 2010. </heading><chapeau style="-uslm-dtd:text">In the case of qualified small business stock acquired after the date of the enactment of the Creating Small Business Jobs Act of 2010 and before January 1, 2011—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">paragraph (1) shall be applied by substituting ‘<quotedText style="-uslm-dtd:quote">100 percent</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">50 percent</quotedText>’,</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">paragraph (2) shall not apply, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">paragraph (7) of section 57(a) shall not apply.”</content>
</subparagraph>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2011/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Conforming Amendment.—</heading><chapeau style="-uslm-dtd:text">Paragraph (3) of section 1202(a) of the Internal Revenue Code of 1986 is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptI/s2011/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by inserting “<quotedText style="-uslm-dtd:quote">certain periods in</quotedText>” before “<quotedText style="-uslm-dtd:quote">2010</quotedText>” in the heading, and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptI/s2011/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">before January 1, 2011</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">on or before the date of the enactment of the Creating Small Business Jobs Act of 2010</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2011/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply to stock acquired after the date of the enactment of this Act.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptI/s2012" styleType="OLC">
<num style="-uslm-dtd:enum" value="2012">SEC. 2012. </num><heading style="-uslm-dtd:header">GENERAL BUSINESS CREDITS OF ELIGIBLE SMALL BUSINESSES FOR 2010 CARRIED BACK 5 YEARS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2012/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 39(a) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">5-YEAR CARRYBACK FOR ELIGIBLE SMALL BUSINESS CREDITS. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">Notwithstanding subsection (d), in the case of eligible small business credits determined in the first taxable year of the taxpayer beginning in 2010—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">paragraph (1) shall be applied by substituting ‘<quotedText style="-uslm-dtd:quote">each of the 5 taxable years</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">the taxable year</quotedText>’ in subparagraph (A) thereof, and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><chapeau style="-uslm-dtd:text">paragraph (2) shall be applied—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">by substituting ‘<quotedText style="-uslm-dtd:quote">25 taxable years</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">21 taxable years</quotedText>’ in subparagraph (A) thereof, and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">by substituting ‘<quotedText style="-uslm-dtd:quote">24 taxable years</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">20 taxable years</quotedText>’ in subparagraph (B) thereof.</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Eligible small business credits. </heading><content style="-uslm-dtd:text">For purposes of this subsection, the term ‘<quotedText style="-uslm-dtd:quote">eligible small business credits</quotedText>’ has the meaning given such term by section 38(c)(5)(B).”</content>
</subparagraph>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2012/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Conforming Amendment.—</heading><content style="-uslm-dtd:text">Section 39(a)(3)(A) of the Internal Revenue Code of 1986 is amended by inserting “<quotedText style="-uslm-dtd:quote">or the eligible small business credits</quotedText>” after “<quotedText style="-uslm-dtd:quote">credit)</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2012/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply to credits determined in taxable years beginning after December 31, 2009.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptI/s2013" styleType="OLC">
<num style="-uslm-dtd:enum" value="2013">SEC. 2013. </num><heading style="-uslm-dtd:header">GENERAL BUSINESS CREDITS OF ELIGIBLE SMALL BUSINESSES IN 2010 NOT SUBJECT TO ALTERNATIVE MINIMUM TAX. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2013/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 38(c) of the Internal Revenue Code of 1986 is amended by redesignating paragraph (5) as paragraph (6) and by inserting after paragraph (4) the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">“(5) </num><heading style="-uslm-dtd:header">Special rules for eligible small business credits in 2010. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">In the case of eligible small business credits determined in taxable years beginning in 2010—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">this section and section 39 shall be applied separately with respect to such credits, and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><chapeau style="-uslm-dtd:text">in applying paragraph (1) to such credits—</chapeau>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">“(I) </num><content style="-uslm-dtd:text">the tentative minimum tax shall be treated as being zero, and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">“(II) </num><content style="-uslm-dtd:text">the limitation under paragraph (1) (as modified by subclause (I)) shall be reduced by the credit allowed under subsection (a) for the taxable year (other than the eligible small business credits).</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Eligible small business credits. </heading><content style="-uslm-dtd:text">For purposes of this subsection, the term ‘<quotedText style="-uslm-dtd:quote">eligible small business credits</quotedText>’ means the sum of the credits listed in subsection (b) which are determined for the taxable year with respect to an eligible small business. Such credits shall not be taken into account under paragraph (2), (3), or (4).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Eligible small business. </heading><chapeau style="-uslm-dtd:text">For purposes of this subsection, the term ‘<quotedText style="-uslm-dtd:quote">eligible small business</quotedText>’ means, with respect to any taxable year—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">a corporation the stock of which is not publicly traded,</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">a partnership, or</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">a sole proprietorship,</content>
</clause><continuation style="-uslm-dtd:continuation-text" role="subparagraph">if the average annual gross receipts of such corporation, partnership, or sole proprietorship for the 3-taxable-year period preceding such taxable year does not exceed $50,000,000. For purposes of applying the test under the preceding sentence, rules similar to the rules of paragraphs (2) and (3) of section 448(c) shall apply.</continuation>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Treatment of partners and s corporation shareholders. </heading><content style="-uslm-dtd:text">Credits determined with respect to a partnership or S corporation shall not be treated as eligible small business credits by any partner or shareholder unless such partner or shareholder meets the gross receipts test under subparagraph (C) for the taxable year in which such credits are treated as current year business credits.”</content>
</subparagraph>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2013/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Technical Amendment.—</heading><content style="-uslm-dtd:text">Section 55(e)(5) of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">38(c)(3)(B)</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">38(c)(6)(B)</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2013/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Conforming Amendments.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptI/s2013/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">Subclause (II) of section 38(c)(2)(A)(ii) of the Internal Revenue Code of 1986 is amended by inserting “<quotedText style="-uslm-dtd:quote">the eligible small business credits,</quotedText>” after “<quotedText style="-uslm-dtd:quote">the New York Liberty Zone business employee credit,</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptI/s2013/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">Subclause (II) of section 38(c)(3)(A)(ii) of such Code is amended by inserting “<quotedText style="-uslm-dtd:quote">, the eligible small business credits,</quotedText>” after “<quotedText style="-uslm-dtd:quote">the New York Liberty Zone business employee credit</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptI/s2013/c/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">Subclause (II) of section 38(c)(4)(A)(ii) of such Code is amended by inserting “<quotedText style="-uslm-dtd:quote">the eligible small business credits and</quotedText>” before “<quotedText style="-uslm-dtd:quote">the specified credits</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2013/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by subsection (a) shall apply to credits determined in taxable years beginning after December 31, 2009, and to carrybacks of such credits.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptI/s2014" styleType="OLC">
<num style="-uslm-dtd:enum" value="2014">SEC. 2014. </num><heading style="-uslm-dtd:header">TEMPORARY REDUCTION IN RECOGNITION PERIOD FOR BUILT-IN GAINS TAX. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2014/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Subparagraph (B) of section 1374(d)(7) of the Internal Revenue Code of 1986 is amended to read as follows:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Special rules for 2009, 2010, and 2011. </heading><chapeau style="-uslm-dtd:text">No tax shall be imposed on the net recognized built-in gain of an S corporation—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">in the case of any taxable year beginning in 2009 or 2010, if the 7th taxable year in the recognition period preceded such taxable year, or</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">in the case of any taxable year beginning in 2011, if the 5th year in the recognition period preceded such taxable year.</content>
</clause><continuation style="-uslm-dtd:continuation-text" role="subparagraph">The preceding sentence shall be applied separately with respect to any asset to which paragraph (8) applies.”</continuation>
</subparagraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptI/s2014/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendment made by this section shall apply to taxable years beginning after December 31, 2010.</content>
</subsection>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tII/stA/ptII">
<num style="-uslm-dtd:enum" value="II">PART II—</num><heading style="-uslm-dtd:header">ENCOURAGING INVESTMENT </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptII/s2021" styleType="OLC">
<num style="-uslm-dtd:enum" value="2021">SEC. 2021. </num><heading style="-uslm-dtd:header">INCREASED EXPENSING LIMITATIONS FOR 2010 AND 2011; CERTAIN REAL PROPERTY TREATED AS SECTION 179 PROPERTY. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2021/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Increased Limitations.—</heading><chapeau style="-uslm-dtd:text">Subsection (b) of section 179 of the Internal Revenue Code of 1986 is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2021/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">shall not exceed</quotedText>” and all that follows in paragraph (1) and inserting<quotedContent style="-uslm-dtd:quoted-block" class="inline"><chapeau style="-uslm-dtd:text">“shall not exceed—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">$250,000 in the case of taxable years beginning after 2007 and before 2010,</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">$500,000 in the case of taxable years beginning in 2010 or 2011, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">$25,000 in the case of taxable years beginning after 2011.”</content>
</subparagraph></quotedContent>, and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2021/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">exceeds</quotedText>” and all that follows in paragraph (2) and inserting<quotedContent style="-uslm-dtd:quoted-block" class="inline"><chapeau style="-uslm-dtd:text">“exceeds—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">$800,000 in the case of taxable years beginning after 2007 and before 2010,</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">$2,000,000 in the case of taxable years beginning in 2010 or 2011, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">$200,000 in the case of taxable years beginning after 2011.”</content>
</subparagraph></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2021/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Inclusion of Certain Real Property.—</heading><content style="-uslm-dtd:text">Section 179 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Special Rules for Qualified Real Property. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">If a taxpayer elects the application of this subsection for any taxable year beginning in 2010 or 2011, the term ‘<quotedText style="-uslm-dtd:quote">section 179 property</quotedText>’ shall include any qualified real property which is—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">of a character subject to an allowance for depreciation,</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">acquired by purchase for use in the active conduct of a trade or business, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">not described in the last sentence of subsection (d)(1).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Qualified real property. </heading><chapeau style="-uslm-dtd:text">For purposes of this subsection, the term ‘<quotedText style="-uslm-dtd:quote">qualified real property</quotedText>’ means—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">qualified leasehold improvement property described in section 168(e)(6),</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">qualified restaurant property described in section 168(e)(7) (without regard to the dates specified in subparagraph (A)(i) thereof), and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">qualified retail improvement property described in section 168(e)(8) (without regard to subparagraph (E) thereof).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Limitation. </heading><content style="-uslm-dtd:text">For purposes of applying the limitation under subsection (b)(1)(B), not more than $250,000 of the aggregate cost which is taken into account under subsection (a) for any taxable year may be attributable to qualified real property.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Carryover limitation. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Notwithstanding subsection (b)(3)(B), no amount attributable to qualified real property may be carried over to a taxable year beginning after 2011.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Treatment of disallowed amounts. </heading><content style="-uslm-dtd:text">Except as provided in subparagraph (C), to the extent that any amount is not allowed to be carried over to a taxable year beginning after 2011 by reason of subparagraph (A), this title shall be applied as if no election under this section had been made with respect to such amount.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Amounts carried over from 2010. </heading><content style="-uslm-dtd:text">If subparagraph (B) applies to any amount (or portion of an amount) which is carried over from a taxable year other than the taxpayer’s last taxable year beginning in 2011, such amount (or portion of an amount) shall be treated for purposes of this title as attributable to property placed in service on the first day of the taxpayer’s last taxable year beginning in 2011.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Allocation of amounts. </heading><chapeau style="-uslm-dtd:text">For purposes of applying this paragraph and subsection (b)(3)(B) to any taxable year, the amount which is disallowed under subsection (b)(3)(A) for such taxable year which is attributed to qualified real property shall be the amount which bears the same ratio to the total amount so disallowed as—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">the aggregate amount attributable to qualified real property placed in service during such taxable year, increased by the portion of any amount carried over to such taxable year from a prior taxable year which is attributable to such property, bears to</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">the total amount of section 179 property placed in service during such taxable year, increased by the aggregate amount carried over to such taxable year from any prior taxable year.</content>
</clause><continuation style="-uslm-dtd:continuation-text" role="subparagraph">For purposes of the preceding sentence, only section 179 property with respect to which an election was made under subsection (c)(1) (determined without regard to subparagraph (B) of this paragraph) shall be taken into account.”</continuation>
</subparagraph>
</paragraph>
</subsection></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2021/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Revocability of Election.—</heading><content style="-uslm-dtd:text">Paragraph (2) of section 179(c) of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">2011</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">2012</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2021/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Computer Software Treated as 179 Property.—</heading><content style="-uslm-dtd:text">Clause (ii) of section 179(d)(1)(A) is amended by striking “<quotedText style="-uslm-dtd:quote">2011</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">2012</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2021/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Effective Dates.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2021/e/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Except as provided in paragraph (2), the amendments made by this section shall apply to property placed in service after December 31, 2009, in taxable years beginning after such date.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2021/e/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Extensions.—</heading><content style="-uslm-dtd:text">The amendments made by subsections (c) and (d) shall apply to taxable years beginning after December 31, 2010.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptII/s2022" styleType="OLC">
<num style="-uslm-dtd:enum" value="2022">SEC. 2022. </num><heading style="-uslm-dtd:header">ADDITIONAL FIRST-YEAR DEPRECIATION FOR 50 PERCENT OF THE BASIS OF CERTAIN QUALIFIED PROPERTY. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">Paragraph (2) of section 168(k) of the Internal Revenue Code of 1986 is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">January 1, 2011</quotedText>” in subparagraph (A)(iv) and inserting “<quotedText style="-uslm-dtd:quote">January 1, 2012</quotedText>”, and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">January 1, 2010</quotedText>” each place it appears and inserting “<quotedText style="-uslm-dtd:quote">January 1, 2011</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Conforming Amendments.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">The heading for subsection (k) of section 168 of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">January 1, 2010</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">January 1, 2011</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">The heading for clause (ii) of section 168(k)(2)(B) of such Code is amended by striking “<quotedText style="-uslm-dtd:quote">Pre-january 1, 2010</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Pre-january 1, 2011</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">Subparagraph (D) of section 168(k)(4) of such Code is amended by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end of clause (ii), by striking the period at the end of clause (iii) and inserting a comma, and by adding at the end the following new clauses:<quotedContent style="-uslm-dtd:quoted-block">
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">“(iv) </num><content style="-uslm-dtd:text">
‘<quotedText style="-uslm-dtd:quote">January 1, 2011</quotedText>’ shall be substituted for ‘<quotedText style="-uslm-dtd:quote">January 1, 2012</quotedText>’ in subparagraph (A)(iv) thereof, and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="v">“(v) </num><content style="-uslm-dtd:text">
‘<quotedText style="-uslm-dtd:quote">January 1, 2010</quotedText>’ shall be substituted for ‘<quotedText style="-uslm-dtd:quote">January 1, 2011</quotedText>’ each place it appears in subparagraph (A) thereof.”</content>
</clause></quotedContent>.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">Subparagraph (B) of section 168(l)(5) of such Code is amended by striking “<quotedText style="-uslm-dtd:quote">January 1, 2010</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">January 1, 2011</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/b/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">Subparagraph (C) of section 168(n)(2) of such Code is amended by striking “<quotedText style="-uslm-dtd:quote">January 1, 2010</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">January 1, 2011</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/b/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">Subparagraph (D) of section 1400L(b)(2) of such Code is amended by striking “<quotedText style="-uslm-dtd:quote">January 1, 2010</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">January 1, 2011</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/b/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><content style="-uslm-dtd:text">Subparagraph (B) of section 1400N(d)(3) of such Code is amended by striking “<quotedText style="-uslm-dtd:quote">January 1, 2010</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">January 1, 2011</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2022/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply to property placed in service after December 31, 2009, in taxable years ending after such date.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptII/s2023" styleType="OLC">
<num style="-uslm-dtd:enum" value="2023">SEC. 2023. </num><heading style="-uslm-dtd:header">SPECIAL RULE FOR LONG-TERM CONTRACT ACCOUNTING. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2023/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 460(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">“(6) </num><heading style="-uslm-dtd:header">Special rule for allocation of bonus depreciation with respect to certain property. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Solely for purposes of determining the percentage of completion under subsection (b)(1)(A), the cost of qualified property shall be taken into account as a cost allocated to the contract as if subsection (k) of section 168 had not been enacted.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Qualified property. </heading><chapeau style="-uslm-dtd:text">For purposes of this paragraph, the term ‘<quotedText style="-uslm-dtd:quote">qualified property</quotedText>’ means property described in section 168(k)(2) which—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">has a recovery period of 7 years or less, and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">is placed in service after December 31, 2009, and before January 1, 2011 (January 1, 2012, in the case of property described in section 168(k)(2)(B)).”</content>
</clause>
</subparagraph>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptII/s2023/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendment made by this section shall apply to property placed in service after December 31, 2009.</content>
</subsection>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tII/stA/ptIII">
<num style="-uslm-dtd:enum" value="III">PART III—</num><heading style="-uslm-dtd:header">PROMOTING ENTREPRENEURSHIP </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptIII/s2031" styleType="OLC">
<num style="-uslm-dtd:enum" value="2031">SEC. 2031. </num><heading style="-uslm-dtd:header">INCREASE IN AMOUNT ALLOWED AS DEDUCTION FOR START-UP EXPENDITURES IN 2010. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIII/s2031/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Start-up Expenditures.—</heading><content style="-uslm-dtd:text">Subsection (b) of section 195 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Special rule for taxable years beginning in 2010. </heading><chapeau style="-uslm-dtd:text">In the case of a taxable year beginning in 2010, paragraph (1)(A)(ii) shall be applied—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">by substituting ‘<quotedText style="-uslm-dtd:quote">$10,000</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">$5,000</quotedText>’, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">by substituting ‘<quotedText style="-uslm-dtd:quote">$60,000</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">$50,000</quotedText>’.”</content>
</subparagraph>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIII/s2031/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendment made by this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2009.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptIII/s2032" styleType="OLC">
<num style="-uslm-dtd:enum" value="2032">SEC. 2032. </num><heading style="-uslm-dtd:header">AUTHORIZATION OF APPROPRIATIONS FOR THE UNITED STATES TRADE REPRESENTATIVE TO DEVELOP MARKET ACCESS OPPORTUNITIES FOR UNITED STATES SMALL- AND MEDIUM-SIZED BUSINESSES AND TO ENFORCE TRADE AGREEMENTS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIII/s2032/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">There are authorized to be appropriated to the Office of the United States Trade Representative $5,230,000, to remain available until expended, for—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptIII/s2032/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">analyzing and developing opportunities for businesses in the United States to access the markets of foreign countries; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptIII/s2032/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">enforcing trade agreements to which the United States is a party.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIII/s2032/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Requirements.—</heading><chapeau style="-uslm-dtd:text">In obligating and expending the funds authorized to be appropriated under subsection (a), the United States Trade Representative shall—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptIII/s2032/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">give preference to those initiatives that the United States Trade Representative determines will create or sustain the greatest number of jobs in the United States or result in the greatest benefit to the economy of the United States; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stA/ptIII/s2032/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">consider the needs of small- and medium-sized businesses in the United States with respect to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tII/stA/ptIII/s2032/b/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">accessing the markets of foreign countries; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tII/stA/ptIII/s2032/b/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the enforcement of trade agreements to which the United States is a party.</content>
</subparagraph>
</paragraph>
</subsection>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tII/stA/ptIV">
<num style="-uslm-dtd:enum" value="IV">PART IV—</num><heading style="-uslm-dtd:header">PROMOTING SMALL BUSINESS FAIRNESS </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptIV/s2041" styleType="OLC">
<num style="-uslm-dtd:enum" value="2041">SEC. 2041. </num><heading style="-uslm-dtd:header">LIMITATION ON PENALTY FOR FAILURE TO DISCLOSE REPORTABLE TRANSACTIONS BASED ON RESULTING TAX BENEFITS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIV/s2041/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Subsection (b) of section 6707A of the Internal Revenue Code of 1986 is amended to read as follows:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Amount of Penalty. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Except as otherwise provided in this subsection, the amount of the penalty under subsection (a) with respect to any reportable transaction shall be 75 percent of the decrease in tax shown on the return as a result of such transaction (or which would have resulted from such transaction if such transaction were respected for Federal tax purposes).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Maximum penalty. </heading><chapeau style="-uslm-dtd:text">The amount of the penalty under subsection (a) with respect to any reportable transaction shall not exceed—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">in the case of a listed transaction, $200,000 ($100,000 in the case of a natural person), or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">in the case of any other reportable transaction, $50,000 ($10,000 in the case of a natural person).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><heading style="-uslm-dtd:header">Minimum penalty. </heading><content style="-uslm-dtd:text">The amount of the penalty under subsection (a) with respect to any transaction shall not be less than $10,000 ($5,000 in the case of a natural person).”</content>
</paragraph>
</subsection></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIV/s2041/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendment made by this section shall apply to penalties assessed after December 31, 2006.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptIV/s2042" styleType="OLC">
<num style="-uslm-dtd:enum" value="2042">SEC. 2042. </num><heading style="-uslm-dtd:header">DEDUCTION FOR HEALTH INSURANCE COSTS IN COMPUTING SELF-EMPLOYMENT TAXES IN 2010. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIV/s2042/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Paragraph (4) of section 162(l) of the Internal Revenue Code of 1986 is amended by inserting “<quotedText style="-uslm-dtd:quote">for taxable years beginning before January 1, 2010, or after December 31, 2010</quotedText>” before the period.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIV/s2042/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply to taxable years beginning after December 31, 2009.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stA/ptIV/s2043" styleType="OLC">
<num style="-uslm-dtd:enum" value="2043">SEC. 2043. </num><heading style="-uslm-dtd:header">REMOVAL OF CELLULAR TELEPHONES AND SIMILAR TELECOMMUNICATIONS EQUIPMENT FROM LISTED PROPERTY. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIV/s2043/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Subparagraph (A) of section 280F(d)(4) of the Internal Revenue Code of 1986 (defining listed property) is amended by adding “<quotedText style="-uslm-dtd:quote">‘<quotedText style="-uslm-dtd:quote">and</quotedText>’</quotedText>” at the end of clause (iv), by striking clause (v), and by redesignating clause (vi) as clause (v).</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stA/ptIV/s2043/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendment made by this section shall apply to taxable years beginning after December 31, 2009.</content>
</subsection>
</section>
</part>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tII/stB">
<num style="-uslm-dtd:enum" value="B">Subtitle B—</num><heading style="-uslm-dtd:header">Revenue Provisions </heading>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tII/stB/ptI">
<num style="-uslm-dtd:enum" value="I">PART I—</num><heading style="-uslm-dtd:header">REDUCING THE TAX GAP </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptI/s2101" styleType="OLC">
<num style="-uslm-dtd:enum" value="2101">SEC. 2101. </num><heading style="-uslm-dtd:header">INFORMATION REPORTING FOR RENTAL PROPERTY EXPENSE PAYMENTS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2101/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 6041 of the Internal Revenue Code of 1986, as amended by section 9006 of the Patient Protection and Affordable Care Act, is amended by redesignating subsections (h) and (i) as subsections (i) and (j), respectively, and by inserting after subsection (g) the following new subsection:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">“(h) </num><heading style="-uslm-dtd:header">Treatment of Rental Property Expense Payments. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">Solely for purposes of subsection (a) and except as provided in paragraph (2), a person receiving rental income from real estate shall be considered to be engaged in a trade or business of renting property.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Exceptions. </heading><chapeau style="-uslm-dtd:text">Paragraph (1) shall not apply to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">any individual, including any individual who is an active member of the uniformed services or an employee of the intelligence community (as defined in section 121(d)(9)(C)(iv)), if substantially all rental income is derived from renting the principal residence (within the meaning of section 121) of such individual on a temporary basis,</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">any individual who receives rental income of not more than the minimal amount, as determined under regulations prescribed by the Secretary, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">any other individual for whom the requirements of this section would cause hardship, as determined under regulations prescribed by the Secretary.”</content>
</subparagraph>
</paragraph>
</subsection></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2101/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by subsection (a) shall apply to payments made after December 31, 2010.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptI/s2102" styleType="OLC">
<num style="-uslm-dtd:enum" value="2102">SEC. 2102. </num><heading style="-uslm-dtd:header">INCREASE IN INFORMATION RETURN PENALTIES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Failure To File Correct Information Returns.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Subsections (a)(1), (b)(1)(A), and (b)(2)(A) of section 6721 of the Internal Revenue Code of 1986 are each amended by striking “<quotedText style="-uslm-dtd:quote">$50</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$100</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Aggregate annual limitation.—</heading><content style="-uslm-dtd:text">Subsections (a)(1), (d)(1)(A), and (e)(3)(A) of section 6721 of such Code are each amended by striking “<quotedText style="-uslm-dtd:quote">$250,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$1,500,000</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Reduction Where Correction Within 30 Days.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Subparagraph (A) of section 6721(b)(1) of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">$15</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$30</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Aggregate annual limitation.—</heading><content style="-uslm-dtd:text">Subsections (b)(1)(B) and (d)(1)(B) of section 6721 of such Code are each amended by striking “<quotedText style="-uslm-dtd:quote">$75,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$250,000</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Reduction Where Correction on or Before August 1.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Subparagraph (A) of section 6721(b)(2) of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">$30</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$60</quotedText>”.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Aggregate annual limitation.—</heading><content style="-uslm-dtd:text">Subsections (b)(2)(B) and (d)(1)(C) of section 6721 of such Code are each amended by striking “<quotedText style="-uslm-dtd:quote">$150,000</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$500,000</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Aggregate Annual Limitations for Persons With Gross Receipts of Not More Than $5,000,000.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Paragraph (1) of section 6721(d) of the Internal Revenue Code of 1986 is amended—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/d/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$100,000</quotedText>” in subparagraph (A) and inserting “<quotedText style="-uslm-dtd:quote">$500,000</quotedText>”,</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/d/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$25,000</quotedText>” in subparagraph (B) and inserting “<quotedText style="-uslm-dtd:quote">$75,000</quotedText>”, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/d/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">$50,000</quotedText>” in subparagraph (C) and inserting “<quotedText style="-uslm-dtd:quote">$200,000</quotedText>”.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Technical amendment.—</heading><content style="-uslm-dtd:text">Paragraph (1) of section 6721(d) of such Code is amended by striking “<quotedText style="-uslm-dtd:quote">such taxable year</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">such calendar year</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Penalty in Case of Intentional Disregard.—</heading><content style="-uslm-dtd:text">Paragraph (2) of section 6721(e) of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">$100</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">$250</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/f" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Adjustment for Inflation.—</heading><content style="-uslm-dtd:text">Section 6721 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Adjustment for Inflation. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">For each fifth calendar year beginning after 2012, each of the dollar amounts under subsections (a), (b), (d) (other than paragraph (2)(A) thereof), and (e) shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section 1(f)(3) determined by substituting ‘<quotedText style="-uslm-dtd:quote">calendar year 2011</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">calendar year 1992</quotedText>’ in subparagraph (B) thereof.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Rounding. </heading><chapeau style="-uslm-dtd:text">If any amount adjusted under paragraph (1)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">is not less than $75,000 and is not a multiple of $500, such amount shall be rounded to the next lowest multiple of $500, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">is not described in subparagraph (A) and is not a multiple of $10, such amount shall be rounded to the next lowest multiple of $10.”</content>
</subparagraph>
</paragraph>
</subsection></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/g" styleType="OLC">
<num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Failure To Furnish Correct Payee Statements.—</heading><content style="-uslm-dtd:text">Section 6722 of the Internal Revenue Code of 1986 is amended to read as follows:<quotedContent style="-uslm-dtd:quoted-block">
<section style="-uslm-dtd:section" styleType="OLC">
<num style="-uslm-dtd:enum" value="6722">“SEC. 6722. </num><heading style="-uslm-dtd:header">FAILURE TO FURNISH CORRECT PAYEE STATEMENTS </heading>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">Imposition of Penalty. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">General rule. </heading><content style="-uslm-dtd:text">In the case of each failure described in paragraph (2) by any person with respect to a payee statement, such person shall pay a penalty of $100 for each statement with respect to which such a failure occurs, but the total amount imposed on such person for all such failures during any calendar year shall not exceed $1,500,000.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Failures subject to penalty. </heading><chapeau style="-uslm-dtd:text">For purposes of paragraph (1), the failures described in this paragraph are—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">any failure to furnish a payee statement on or before the date prescribed therefor to the person to whom such statement is required to be furnished, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">any failure to include all of the information required to be shown on a payee statement or the inclusion of incorrect information.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">“(b) </num><heading style="-uslm-dtd:header">Reduction Where Correction in Specified Period. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Correction within 30 days. </heading><chapeau style="-uslm-dtd:text">If any failure described in subsection (a)(2) is corrected on or before the day 30 days after the required filing date—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the penalty imposed by subsection (a) shall be $30 in lieu of $100, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the total amount imposed on the person for all such failures during any calendar year which are so corrected shall not exceed $250,000.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Failures corrected on or before august 1. </heading><chapeau style="-uslm-dtd:text">If any failure described in subsection (a)(2) is corrected after the 30th day referred to in paragraph (1) but on or before August 1 of the calendar year in which the required filing date occurs—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the penalty imposed by subsection (a) shall be $60 in lieu of $100, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">the total amount imposed on the person for all such failures during the calendar year which are so corrected shall not exceed $500,000.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">“(c) </num><heading style="-uslm-dtd:header">Exception for De Minimis Failures. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">If—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">a payee statement is furnished to the person to whom such statement is required to be furnished,</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">there is a failure described in subsection (a)(2)(B) (determined after the application of section 6724(a)) with respect to such statement, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">such failure is corrected on or before August 1 of the calendar year in which the required filing date occurs,</content>
</subparagraph><continuation style="-uslm-dtd:continuation-text" role="paragraph">for purposes of this section, such statement shall be treated as having been furnished with all of the correct required information.</continuation>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Limitation. </heading><chapeau style="-uslm-dtd:text">The number of payee statements to which paragraph (1) applies for any calendar year shall not exceed the greater of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">10, or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">one-half of 1 percent of the total number of payee statements required to be filed by the person during the calendar year.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">“(d) </num><heading style="-uslm-dtd:header">Lower Limitations for Persons With Gross Receipts of Not More Than $5,000,000. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">If any person meets the gross receipts test of paragraph (2) with respect to any calendar year, with respect to failures during such calendar year—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">subsection (a)(1) shall be applied by substituting ‘<quotedText style="-uslm-dtd:quote">$500,000</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">$1,500,000</quotedText>’,</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">subsection (b)(1)(B) shall be applied by substituting ‘<quotedText style="-uslm-dtd:quote">$75,000</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">$250,000</quotedText>’, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">subsection (b)(2)(B) shall be applied by substituting ‘<quotedText style="-uslm-dtd:quote">$200,000</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">$500,000</quotedText>’.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Gross receipts test. </heading><content style="-uslm-dtd:text">A person meets the gross receipts test of this paragraph if such person meets the gross receipts test of section 6721(d)(2).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">“(e) </num><heading style="-uslm-dtd:header">Penalty in Case of Intentional Disregard. </heading><chapeau style="-uslm-dtd:text">If 1 or more failures to which subsection (a) applies are due to intentional disregard of the requirement to furnish a payee statement (or the correct information reporting requirement), then, with respect to each such failure—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><content style="-uslm-dtd:text">subsections (b), (c), and (d) shall not apply,</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><chapeau style="-uslm-dtd:text">the penalty imposed under subsection (a)(1) shall be $250, or, if greater—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">in the case of a payee statement other than a statement required under section 6045(b), 6041A(e) (in respect of a return required under section 6041A(b)), 6050H(d), 6050J(e), 6050K(b), or 6050L(c), 10 percent of the aggregate amount of the items required to be reported correctly, or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">in the case of a payee statement required under section 6045(b), 6050K(b), or 6050L(c), 5 percent of the aggregate amount of the items required to be reported correctly, and</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">“(3) </num><chapeau style="-uslm-dtd:text">in the case of any penalty determined under paragraph (2)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">the $1,500,000 limitation under subsection (a) shall not apply, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">such penalty shall not be taken into account in applying such limitation to penalties not determined under paragraph (2).</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">“(f) </num><heading style="-uslm-dtd:header">Adjustment for Inflation. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">In general. </heading><content style="-uslm-dtd:text">For each fifth calendar year beginning after 2012, each of the dollar amounts under subsections (a), (b), (d)(1), and (e) shall be increased by such dollar amount multiplied by the cost-of-living adjustment determined under section 1(f)(3) determined by substituting ‘<quotedText style="-uslm-dtd:quote">calendar year 2011</quotedText>’ for ‘<quotedText style="-uslm-dtd:quote">calendar year 1992</quotedText>’ in subparagraph (B) thereof.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Rounding. </heading><chapeau style="-uslm-dtd:text">If any amount adjusted under paragraph (1)—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">is not less than $75,000 and is not a multiple of $500, such amount shall be rounded to the next lowest multiple of $500, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">is not described in subparagraph (A) and is not a multiple of $10, such amount shall be rounded to the next lowest multiple of $10.”</content>
</subparagraph>
</paragraph>
</subsection>
</section></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2102/h" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply with respect to information returns required to be filed, and payee statements required to be furnished, on or after January 1, 2011.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptI/s2103" styleType="OLC">
<num style="-uslm-dtd:enum" value="2103">SEC. 2103. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t26/s6662A">26 U.S.C. 6662A note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">REPORT ON TAX SHELTER PENALTIES AND CERTAIN OTHER ENFORCEMENT ACTIONS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">The Commissioner of Internal Revenue, in consultation with the Secretary of the Treasury, shall submit to the Committee on Ways and Means of the House of Representatives and the Committee on Finance of the Senate an annual report on the penalties assessed by the Internal Revenue Service during the preceding year under each of the following provisions of the Internal Revenue Code of 1986:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">Section 6662A (relating to accuracy-related penalty on understatements with respect to reportable transactions).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">Section 6700(a) (relating to promoting abusive tax shelters).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">Section 6707 (relating to failure to furnish information regarding reportable transactions).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/a/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">Section 6707A (relating to failure to include reportable transaction information with return).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/a/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">Section 6708 (relating to failure to maintain lists of advisees with respect to reportable transactions).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Additional Information.—</heading><chapeau style="-uslm-dtd:text">The report required under subsection (a) shall also include information on the following with respect to each year:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">Any action taken under section 330(b) of title 31, United States Code, with respect to any reportable transaction (as defined in section 6707A(c) of the Internal Revenue Code of 1986).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">Any extension of the time for assessment of tax enforced, or assessment of any amount under such an extension, under paragraph (10) of section 6501(c) of the Internal Revenue Code of 1986.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2103/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Date of Report.—</heading><content style="-uslm-dtd:text">The first report required under subsection (a) shall be submitted not later than December 31, 2010.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptI/s2104" styleType="OLC">
<num style="-uslm-dtd:enum" value="2104">SEC. 2104. </num><heading style="-uslm-dtd:header">APPLICATION OF CONTINUOUS LEVY TO TAX LIABILITIES OF CERTAIN FEDERAL CONTRACTORS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2104/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Subsection (f) of section 6330 of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">or</quotedText>” at the end of paragraph (2), by inserting “<quotedText style="-uslm-dtd:quote">or</quotedText>” at the end of paragraph (3), and by inserting after paragraph (3) the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><content style="-uslm-dtd:text">the Secretary has served a Federal contractor levy,”</content>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2104/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Federal Contractor Levy.—</heading><chapeau style="-uslm-dtd:text">Subsection (h) of section 6330 of the Internal Revenue Code of 1986 is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2104/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking all that precedes “<quotedText style="-uslm-dtd:quote">any levy in connection with the collection</quotedText>” and inserting the following:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">“(h) </num><heading style="-uslm-dtd:header">Definitions Related to Exceptions. </heading><chapeau style="-uslm-dtd:text">For purposes of subsection (f)—</chapeau>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Disqualified employment tax levy. </heading><content style="-uslm-dtd:text">A disqualified employment tax levy is”</content>
</paragraph>
</subsection></quotedContent>; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptI/s2104/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by adding at the end the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Federal contractor levy. </heading><content style="-uslm-dtd:text">A Federal contractor levy is any levy if the person whose property is subject to the levy (or any predecessor thereof) is a Federal contractor.”</content>
</paragraph></quotedContent>.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2104/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Conforming Amendment.—</heading><content style="-uslm-dtd:text">The heading of subsection (f) of section 6330 of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">Jeopardy and State Refund Collection</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">Exceptions</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptI/s2104/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply to levies issued after the date of the enactment of this Act.</content>
</subsection>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tII/stB/ptII">
<num style="-uslm-dtd:enum" value="II">PART II—</num><heading style="-uslm-dtd:header">PROMOTING RETIREMENT PREPARATION </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptII/s2111" styleType="OLC">
<num style="-uslm-dtd:enum" value="2111">SEC. 2111. </num><heading style="-uslm-dtd:header">PARTICIPANTS IN GOVERNMENT SECTION 457 PLANS ALLOWED TO TREAT ELECTIVE DEFERRALS AS ROTH CONTRIBUTIONS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptII/s2111/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 402A(e)(1) of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting “<quotedText style="-uslm-dtd:quote">, and</quotedText>”, and by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A).”</content>
</subparagraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptII/s2111/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Elective Deferrals.—</heading><content style="-uslm-dtd:text">Section 402A(e)(2) of the Internal Revenue Code of 1986 is amended to read as follows:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Elective deferral. </heading><chapeau style="-uslm-dtd:text">The term ‘<quotedText style="-uslm-dtd:quote">elective deferral</quotedText>’ means—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">any elective deferral described in subparagraph (A) or (C) of section 402(g)(3), and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">any elective deferral of compensation by an individual under an eligible deferred compensation plan (as defined in section 457(b)) of an eligible employer described in section 457(e)(1)(A).”</content>
</subparagraph>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptII/s2111/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply to taxable years beginning after December 31, 2010.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptII/s2112" styleType="OLC">
<num style="-uslm-dtd:enum" value="2112">SEC. 2112. </num><heading style="-uslm-dtd:header">ROLLOVERS FROM ELECTIVE DEFERRAL PLANS TO DESIGNATED ROTH ACCOUNTS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptII/s2112/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Section 402A(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">“(4) </num><heading style="-uslm-dtd:header">Taxable rollovers to designated roth accounts. </heading>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><heading style="-uslm-dtd:header">In general. </heading><chapeau style="-uslm-dtd:text">Notwithstanding sections 402(c), 403(b)(8), and 457(e)(16), in the case of any distribution to which this paragraph applies—</chapeau>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">“(i) </num><content style="-uslm-dtd:text">there shall be included in gross income any amount which would be includible were it not part of a qualified rollover contribution,</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">“(ii) </num><content style="-uslm-dtd:text">section 72(t) shall not apply, and</content>
</clause>
<clause style="-uslm-dtd:clause" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">“(iii) </num><content style="-uslm-dtd:text">unless the taxpayer elects not to have this clause apply, any amount required to be included in gross income for any taxable year beginning in 2010 by reason of this paragraph shall be so included ratably over the 2-taxable-year period beginning with the first taxable year beginning in 2011.</content>
</clause><continuation style="-uslm-dtd:continuation-text" role="subparagraph">Any election under clause (iii) for any distributions during a taxable year may not be changed after the due date for such taxable year.</continuation>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><heading style="-uslm-dtd:header">Distributions to which paragraph applies. </heading><content style="-uslm-dtd:text">In the case of an applicable retirement plan which includes a qualified Roth contribution program, this paragraph shall apply to a distribution from such plan other than from a designated Roth account which is contributed in a qualified rollover contribution (within the meaning of section 408A(e)) to the designated Roth account maintained under such plan for the benefit of the individual to whom the distribution is made.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><heading style="-uslm-dtd:header">Coordination with limit. </heading><content style="-uslm-dtd:text">Any distribution to which this paragraph applies shall not be taken into account for purposes of paragraph (1).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">“(D) </num><heading style="-uslm-dtd:header">Other rules. </heading><content style="-uslm-dtd:text">The rules of subparagraphs (D), (E), and (F) of section 408A(d)(3) (as in effect for taxable years beginning after 2009) shall apply for purposes of this paragraph.”</content>
</subparagraph>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptII/s2112/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply to distributions after the date of the enactment of this Act.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptII/s2113" styleType="OLC">
<num style="-uslm-dtd:enum" value="2113">SEC. 2113. </num><heading style="-uslm-dtd:header">SPECIAL RULES FOR ANNUITIES RECEIVED FROM ONLY A PORTION OF A CONTRACT. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptII/s2113/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">Subsection (a) of section 72 of the Internal Revenue Code of 1986 is amended to read as follows:<quotedContent style="-uslm-dtd:quoted-block">
<subsection style="-uslm-dtd:subsection" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">“(a) </num><heading style="-uslm-dtd:header">General Rules for Annuities. </heading>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">“(1) </num><heading style="-uslm-dtd:header">Income inclusion. </heading><content style="-uslm-dtd:text">Except as otherwise provided in this chapter, gross income includes any amount received as an annuity (whether for a period certain or during one or more lives) under an annuity, endowment, or life insurance contract.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">“(2) </num><heading style="-uslm-dtd:header">Partial annuitization. </heading><chapeau style="-uslm-dtd:text">If any amount is received as an annuity for a period of 10 years or more or during one or more lives under any portion of an annuity, endowment, or life insurance contract—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">such portion shall be treated as a separate contract for purposes of this section,</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">for purposes of applying subsections (b), (c), and (e), the investment in the contract shall be allocated pro rata between each portion of the contract from which amounts are received as an annuity and the portion of the contract from which amounts are not received as an annuity, and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">“(C) </num><content style="-uslm-dtd:text">a separate annuity starting date under subsection (c)(4) shall be determined with respect to each portion of the contract from which amounts are received as an annuity.”</content>
</subparagraph>
</paragraph>
</subsection></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptII/s2113/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendment made by this section shall apply to amounts received in taxable years beginning after December 31, 2010.</content>
</subsection>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tII/stB/ptIII">
<num style="-uslm-dtd:enum" value="III">PART III—</num><heading style="-uslm-dtd:header">CLOSING UNINTENDED LOOPHOLES </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptIII/s2121" styleType="OLC">
<num style="-uslm-dtd:enum" value="2121">SEC. 2121. </num><heading style="-uslm-dtd:header">CRUDE TALL OIL INELIGIBLE FOR CELLULOSIC BIOFUEL PRODUCER CREDIT. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptIII/s2121/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">Clause (iii) of section 40(b)(6)(E) of the Internal Revenue Code of 1986, as added by the Health Care and Education Reconciliation Act of 2010, is amended—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptIII/s2121/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">or</quotedText>” at the end of subclause (I),</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptIII/s2121/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">by striking the period at the end of subclause (II) and inserting “<quotedText style="-uslm-dtd:quote">, or</quotedText>”,</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptIII/s2121/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">by adding at the end the following new subclause:<quotedContent style="-uslm-dtd:quoted-block">
<subclause style="-uslm-dtd:subclause" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">“(III) </num><content style="-uslm-dtd:text">such fuel has an acid number greater than 25.”</content>
</subclause></quotedContent>, and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tII/stB/ptIII/s2121/a/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">by striking “<quotedText style="-uslm-dtd:quote">unprocessed</quotedText>” in the heading and inserting “<quotedText style="-uslm-dtd:quote">certain</quotedText>”.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptIII/s2121/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply to fuels sold or used on or after January 1, 2010.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptIII/s2122" styleType="OLC">
<num style="-uslm-dtd:enum" value="2122">SEC. 2122. </num><heading style="-uslm-dtd:header">SOURCE RULES FOR INCOME ON GUARANTEES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptIII/s2122/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Amounts Sourced Within the United States.—</heading><content style="-uslm-dtd:text">Subsection (a) of section 861 of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="9">“(9) </num><heading style="-uslm-dtd:header">Guarantees. </heading><chapeau style="-uslm-dtd:text">Amounts received, directly or indirectly, from—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">a noncorporate resident or domestic corporation for the provision of a guarantee of any indebtedness of such resident or corporation, or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">any foreign person for the provision of a guarantee of any indebtedness of such person, if such amount is connected with income which is effectively connected (or treated as effectively connected) with the conduct of a trade or business in the United States.”</content>
</subparagraph>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptIII/s2122/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Amounts Sourced Without the United States.—</heading><content style="-uslm-dtd:text">Subsection (a) of section 862 of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">and</quotedText>” at the end of paragraph (7), by striking the period at the end of paragraph (8) and inserting “<quotedText style="-uslm-dtd:quote">; and</quotedText>”, and by adding at the end the following new paragraph:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="9">“(9) </num><content style="-uslm-dtd:text">amounts received, directly or indirectly, from a foreign person for the provision of a guarantee of indebtedness of such person other than amounts which are derived from sources within the United States as provided in section 861(a)(9).”</content>
</paragraph></quotedContent>.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptIII/s2122/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Conforming Amendment.—</heading><content style="-uslm-dtd:text">Clause (ii) of section 864(c)(4)(B) of the Internal Revenue Code of 1986 is amended by striking “<quotedText style="-uslm-dtd:quote">dividends or interest</quotedText>” and inserting “<quotedText style="-uslm-dtd:quote">dividends, interest, or amounts received for the provision of guarantees of indebtedness</quotedText>”.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tII/stB/ptIII/s2122/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Effective Date.—</heading><content style="-uslm-dtd:text">The amendments made by this section shall apply to guarantees issued after the date of the enactment of this Act.</content>
</subsection>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tII/stB/ptIV">
<num style="-uslm-dtd:enum" value="IV">PART IV—</num><heading style="-uslm-dtd:header">TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tII/stB/ptIV/s2131" styleType="OLC">
<num style="-uslm-dtd:enum" value="2131">SEC. 2131. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t26/s6655">26 U.S.C. 6655 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES. </heading>
<content style="-uslm-dtd:text" class="block">The percentage under paragraph (2) of section 561 of the Hiring Incentives to Restore Employment Act in effect on the date of the enactment of this Act is increased by 36 percentage points.</content>
</section>
</part>
</subtitle>
<num style="-uslm-dtd:enum" value="III">TITLE III—</num><heading style="-uslm-dtd:header">STATE SMALL BUSINESS CREDIT INITIATIVE </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3001" styleType="OLC">
<num style="-uslm-dtd:enum" value="3001">SEC. 3001. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5701">12 U.S.C. 5701 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">SHORT TITLE. </heading>
<content style="-uslm-dtd:text" class="block">This title may be cited as the “<shortTitle style="-uslm-dtd:quote"><inline style="-uslm-dtd:short-title">State Small Business Credit Initiative Act of 2010</inline></shortTitle>”.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3002" styleType="OLC" role="definitions">
<num style="-uslm-dtd:enum" value="3002">SEC. 3002. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5701">12 U.S.C. 5701</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">DEFINITIONS. </heading>
<chapeau style="-uslm-dtd:text" class="block">In this title, the following definitions shall apply:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Appropriate committees of congress.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">appropriate committees of Congress</term>” means—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the Committee on Small Business and Entrepreneurship, the Committee on Agriculture, Nutrition, and Forestry, the Committee on Banking, Housing, and Urban Affairs, the Committee on Finance, the Committee on the Budget, and the Committee on Appropriations of the Senate; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the Committee on Small Business, the Committee on Agriculture, the Committee on Financial Services, the Committee on Ways and Means, the Committee on the Budget, and the Committee on Appropriations of the House of Representatives.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Appropriate federal banking agency.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">appropriate Federal banking agency</term>”—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">has the same meaning as in section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)); and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">includes the National Credit Union Administration Board in the case of any credit union the deposits of which are insured in accordance with the Federal Credit Union Act.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Enrolled loan.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">enrolled loan</term>” means a loan made by a financial institution lender that is enrolled by a participating State in an approved State capital access program in accordance with this title.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Federal contribution.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">Federal contribution</term>” means the portion of the contribution made by a participating State to, or for the account of, an approved State program that is made with Federal funds allocated to the State by the Secretary under section 3003.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Financial institution.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">financial institution</term>” means any insured depository institution, insured credit union, or community development financial institution, as those terms are each defined in section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (12 U.S.C. 4702).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Participating state.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">participating State</term>” means any State that has been approved for participation in the Program under section 3004.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Program.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">Program</term>” means the State Small Business Credit Initiative established under this title.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/8" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">Qualifying loan or swap funding facility.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">qualifying loan or swap funding facility</term>” means a contractual arrangement between a participating State and a private financial entity under which—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/8/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the participating State delivers funds to the entity as collateral;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/8/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the entity provides funding from the arrangement back to the participating State; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/8/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">the full amount of resulting funding from the arrangement, less any fees and other costs of the arrangement, is contributed to, or for the account of, an approved State program.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/9" styleType="OLC">
<num style="-uslm-dtd:enum" value="9">(9) </num><heading style="-uslm-dtd:header">Reserve fund.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">reserve fund</term>” means a fund, established by a participating State, dedicated to a particular financial institution lender, for the purposes of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/9/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">depositing all required premium charges paid by the financial institution lender and by each borrower receiving a loan under an approved State program from that financial institution lender;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/9/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">depositing contributions made by the participating State, including State contributions made with Federal contributions; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/9/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">covering losses on enrolled loans by disbursing accumulated funds.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/10" styleType="OLC">
<num style="-uslm-dtd:enum" value="10">(10) </num><heading style="-uslm-dtd:header">State.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">State</term>” means—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/10/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">a State of the United States;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/10/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of Northern Mariana Islands, Guam, American Samoa, and the United States Virgin Islands;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/10/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">when designated by a State of the United States, a political subdivision of that State that the Secretary determines has the capacity to participate in the Program; </content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/10/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">under the circumstances described in section 3004(d), a municipality of a State of the United States to which the Secretary has given a special permission under section 3004(d); and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/10/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">a Tribal government, or a group of Tribal governments that jointly apply for an allocation.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/11" styleType="OLC">
<num style="-uslm-dtd:enum" value="11">(11) </num><heading style="-uslm-dtd:header">State capital access program.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">State capital access program</term>” means a program of a State that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/11/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">uses public resources to promote private access to credit; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/11/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">meets the eligibility criteria in section 3005(c).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/12" styleType="OLC">
<num style="-uslm-dtd:enum" value="12">(12) </num><heading style="-uslm-dtd:header">State other credit support program.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">State other credit support program</term>”—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/12/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">means a program of a State that—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3002/12/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">uses public resources to promote private access to credit;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3002/12/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">is not a State capital access program; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3002/12/A/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">meets the eligibility criteria in section 3006(c); and</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/12/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">includes, collateral support programs, loan participation programs, State-run venture capital fund programs, and credit guarantee programs.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/13" styleType="OLC">
<num style="-uslm-dtd:enum" value="13">(13) </num><heading style="-uslm-dtd:header">State program.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">State program</term>” means a State capital access program or a State other credit support program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/14" styleType="OLC">
<num style="-uslm-dtd:enum" value="14">(14) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">Secretary</term>” means the Secretary of the Treasury.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/15" styleType="OLC">
<num style="-uslm-dtd:enum" value="15">(15) </num><heading style="-uslm-dtd:header">Business enterprise owned and controlled by socially and economically disadvantaged individuals.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">business enterprise owned and controlled by socially and economically disadvantaged individuals</term>” means a business that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/15/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">if privately owned, 51 percent is owned by one or more socially and economically disadvantaged individuals;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/15/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">if publicly owned, 51 percent of the stock is owned by one or more socially and economically disadvantaged individuals; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3002/15/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">in the case of a mutual institution, a majority of the Board of Directors, account holders, and the community which the institution services is predominantly comprised of socially and economically disadvantaged individuals.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/16" styleType="OLC">
<num style="-uslm-dtd:enum" value="16">(16) </num><heading style="-uslm-dtd:header">Community development financial institution.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">community development financial institution</term>” has the meaning given that term under section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/17" styleType="OLC">
<num style="-uslm-dtd:enum" value="17">(17) </num><heading style="-uslm-dtd:header">Minority depository institution.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">minority depository institution</term>” has the meaning given that term under section 308(b) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/18" styleType="OLC">
<num style="-uslm-dtd:enum" value="18">(18) </num><heading style="-uslm-dtd:header">Socially and economically disadvantaged individual.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">socially and economically disadvantaged individual</term>” means an individual who is a socially disadvantaged individual or an economically disadvantaged individual, as such terms are defined, respectively, under section 8 of the Small Business Act (15 U.S.C. 637) and the regulations thereunder.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3002/19" styleType="OLC">
<num style="-uslm-dtd:enum" value="19">(19) </num><heading style="-uslm-dtd:header">Tribal government.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">Tribal government</term>” means the recognized governing body of any Indian or Alaska Native tribe, band, nation, pueblo, village, community, component band, or component reservation, individually identified (including parenthetically) in the list published most recently as of the date of enactment of this paragraph pursuant to section 104 of the Federally Recognized Indian Tribe List Act of 1994 (25 U.S.C. 5131).</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3003" styleType="OLC">
<num style="-uslm-dtd:enum" value="3003">SEC. 3003. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5702">12 U.S.C. 5702</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">FEDERAL FUNDS ALLOCATED TO STATES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3003/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Program Established; Purpose.—</heading><content style="-uslm-dtd:text">There is established the State Small Business Credit Initiative, to be administered by the Secretary. Under the Program, the Secretary shall allocate Federal funds to participating States and make the allocated funds available to the participating States as provided in this section for the uses described in this section.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3003/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Allocation Formula.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 30 days after the date of enactment of subsection (d), the Secretary shall allocate Federal funds to participating States so that each State is eligible to receive an amount equal to what the State would receive under the 2021 allocation, as determined under paragraph (2).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">2021 ALLOCATION FORMULA.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/b/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">With respect to States other than Tribal governments, the Secretary shall determine the 2021 allocation by allocating Federal funds among the States in the proportion that each such State’s 2020 State employment decline bears to the aggregate of the 2020 State employment declines for all States.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/b/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Minimum allocation.—</heading><content style="-uslm-dtd:text">The Secretary shall adjust the allocations under subparagraph (A) for each State to the extent necessary to ensure that no State receives less than 0.9 percent of the Federal funds.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/b/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C)<ref style="-uslm-dtd:footnote-ref" idref="ID1C7A88A8B15E4CFCB4BF02D506F2F9EE" class="footnoteRef">1</ref> </num><heading style="-uslm-dtd:header">2020 STATE EMPLOYMENT DECLINE DEFINED.—</heading><chapeau style="-uslm-dtd:text">In this paragraph and with respect to a State, the term “<quotedText style="-uslm-dtd:quote">2020 State employment decline</quotedText>” means the excess (if any) of—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/b/2/C/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the number of individuals employed in such State determined for December 2019; over</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/b/2/C/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the number of individuals employed in such State determined for December 2020.</content>
</clause><footnote id="ID1C7A88A8B15E4CFCB4BF02D506F2F9EE" style="-uslm-dtd:footnote"><sup style="-uslm-dtd:superscript">1</sup><p style="-uslm-dtd:para; margin-left:1em">There are two subparagraph (C)s’ so in law.</p></footnote>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/b/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C)<ref style="-uslm-dtd:dangling-footnote-ref" class="footnoteRef">1</ref> </num><heading style="-uslm-dtd:header">Separate allocation for tribal governments.—</heading>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/b/2/C/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">With respect to States that are Tribal governments, the Secretary shall determine the 2021 allocation by allocating $500,000,000 among the Tribal governments in the proportion the Secretary determines appropriate, including with consideration to available employment and economic data regarding each such Tribal government.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/b/2/C/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><heading style="-uslm-dtd:header">Notice of intent; timing of allocation.—</heading><chapeau style="-uslm-dtd:text">With respect to allocations to States that are Tribal governments, the Secretary may—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIII/s3003/b/2/C/ii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">require Tribal governments that individually or jointly wish to participate in the Program to file a notice of intent with the Secretary not later than 30 days after the date of enactment of subsection (d); and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIII/s3003/b/2/C/ii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">notwithstanding paragraph (1), allocate Federal funds to participating Tribal governments not later than 60 days after the date of enactment of subsection (d).</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/b/2/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><heading style="-uslm-dtd:header">Employment data.—</heading><content style="-uslm-dtd:text">If the Secretary determines that employment data with respect to a State is unavailable from the Bureau of Labor Statistics of the Department of Labor, the Secretary shall consider such other economic and employment data that is otherwise available for purposes of determining the employment data of such State.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3003/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Availability of Allocated Amount.—</heading><chapeau style="-uslm-dtd:text">The amount allocated by the Secretary to each participating State under subsection (b) shall be made available to the State as follows:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Allocated amount generally to be available to state in one-thirds.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/1/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">apportion the participating State’s allocated amount into thirds;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/1/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">transfer to the participating State the first ⅓ when the Secretary approves the State for participation under section 3004; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/1/A/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">transfer to the participating State each successive ⅓ when the State has certified to the Secretary that it has expended, transferred, or obligated 80 percent of the last transferred ⅓ for Federal contributions to, or for the account of, State programs that have delivered loans or investments to eligible businesses.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Authority to withhold pending audit.—</heading><content style="-uslm-dtd:text">The Secretary may withhold the transfer of any successive ⅓ pending results of a financial audit.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Inspector general audits.—</heading>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/1/C/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Inspector General of the Department of the Treasury shall carry out an audit of the participating State’s use of allocated Federal funds transferred to the State.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/1/C/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><heading style="-uslm-dtd:header">Recoupment of misused transferred funds required.—</heading><content style="-uslm-dtd:text">The allocation agreement between the Secretary and the participating State shall provide that the Secretary shall recoup any allocated Federal funds transferred to the participating State if the results of the an audit include a finding that there was an intentional or reckless misuse of transferred funds by the State.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/1/C/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><heading style="-uslm-dtd:header">Penalty for misstatement.—</heading><content style="-uslm-dtd:text">Any participating State that is found to have intentionally misstated any report issued to the Secretary under the Program shall be ineligible to receive any additional funds under the Program. Funds that had been allocated or that would otherwise have been allocated to such participating State shall be paid into the general fund of the Treasury for reduction of the public debt.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/1/C/iv" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">(iv) </num><heading style="-uslm-dtd:header">Municipalities.—</heading><content style="-uslm-dtd:text">In this subparagraph, the term “<quotedText style="-uslm-dtd:quote">participating State</quotedText>” shall include a municipality given special permission to participate in the Program, under section 3004(d).</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/1/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><heading style="-uslm-dtd:header">Exception.—</heading><content style="-uslm-dtd:text">The Secretary may, in the Secretary’s discretion, transfer the full amount of the participating State’s allocated amount to the State in a single transfer if the participating State applies to the Secretary for approval to use the full amount of the allocation as collateral for a qualifying loan or swap funding facility.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Transferred amounts.—</heading><content style="-uslm-dtd:text">Each amount transferred to a participating State under this section shall remain available to the State until used by the State as permitted under paragraph (3).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/c/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Use of transferred funds.—</heading><chapeau style="-uslm-dtd:text">Each participating State may use funds transferred to it under this section only—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">for making Federal contributions to, or for the account of, an approved State program;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">as collateral for a qualifying loan or swap funding facility;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/3/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">in the case of the first ⅓ transferred, for paying administrative costs incurred by the State in implementing an approved State program in an amount not to exceed 5 percent of that first ⅓; or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/3/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">in the case of each successive ⅓ transferred, for paying administrative costs incurred by the State in implementing an approved State program in an amount not to exceed 3 percent of that successive ⅓.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/c/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Termination of availability of amounts not transferred.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">Any portion of a participating State’s allocated amount that has not been transferred to the State under this section may be deemed by the Secretary to be no longer allocated to the State and no longer available to the State and shall be returned to the general fund of the Treasury or reallocated as described under subparagraph (B), if—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/4/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the second ⅓ of a State’s allocated amount has not been transferred to the State before the end of the end of the 3-year period beginning on the date that the Secretary approves the State for participation; or</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/4/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the last ⅓ of a State’s allocated amount has not been transferred to the State before the end of the end of the 6-year period beginning on the date that the Secretary approves the State for participation.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Reallocation.—</heading><content style="-uslm-dtd:text">Any amount deemed by the Secretary to be no longer allocated to a State and no longer available to such State under subparagraph (A) may be reallocated by the Secretary to other participating States. In making such a reallocation, the Secretary shall not take into account the minimum allocation requirements under subsection (b)(2)(B) or the specific allocation for Tribal governments described under subsection (b)(2)(C).</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/c/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Transferred amounts not assistance.—</heading><content style="-uslm-dtd:text">The amounts transferred to a participating State under this section shall not be considered assistance for purposes of subtitle V of title 31, United States Code.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/c/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/6/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the term “<quotedText style="-uslm-dtd:quote">allocated amount</quotedText>” means the total amount of Federal funds allocated by the Secretary under subsection (b) to the participating State; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/c/6/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">the term “<quotedText style="-uslm-dtd:quote">⅓</quotedText>” means—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/6/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">in the case of the first ⅓ and second ⅓, an amount equal to 33 percent of a participating State’s allocated amount; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3003/c/6/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">in the case of the last ⅓, an amount equal to 34 percent of a participating State’s allocated amount.</content>
</clause>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3003/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Additional Allocations to Support Business Enterprises Owned and Controlled by Socially and Economically Disadvantaged Individuals.—</heading><chapeau style="-uslm-dtd:text">Of the amounts appropriated for fiscal year 2021 to carry out the Program, the Secretary shall—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">allocate $1,500,000,000 to States from funds allocated under this section and, by regulation or other guidance, prescribe Program requirements that the funds be expended for business enterprises owned and controlled by socially and economically disadvantaged individuals; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">allocate such amounts to States based on the needs of business enterprises owned and controlled by socially and economically disadvantaged individuals, as determined by the Secretary, in each State, and not subject to the allocation formula described under subsection (b).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3003/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Incentive Allocations to Support Business Enterprises Owned and Controlled by Socially and Economically Disadvantaged Individuals.—</heading><content style="-uslm-dtd:text">Of the amounts appropriated for fiscal year 2021 to carry out the Program, the Secretary shall set aside $1,000,000,000 for an incentive program under which the Secretary shall increase the second ⅓ and last ⅓ allocations for States that demonstrate robust support, as determined by the Secretary, for business concerns owned and controlled by socially and economically disadvantaged individuals in the deployment of prior allocation amounts.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3003/f" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Additional Allocations to Support Very Small Businesses.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/f/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Of the amounts appropriated to carry out the Program, the Secretary shall allocate not less than $500,000,000 to States from funds allocated under this section to be expended for very small businesses.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3003/f/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Very small business defined.—</heading><chapeau style="-uslm-dtd:text">In this subsection, the term “<quotedText style="-uslm-dtd:quote">very small business</quotedText>”—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/f/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">means a business with fewer than 10 employees; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3003/f/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">may include independent contractors and sole proprietors.</content>
</subparagraph>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3004" styleType="OLC">
<num style="-uslm-dtd:enum" value="3004">SEC. 3004. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5703">12 U.S.C. 5703</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">APPROVING STATES FOR PARTICIPATION. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3004/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Application.—</heading><content style="-uslm-dtd:text">Any State may apply to the Secretary for approval to be a participating State under the Program and to be eligible for an allocation of Federal funds under the Program.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3004/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">General Approval Criteria.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall approve a State to be a participating State, if—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">a specific department, agency, or political subdivision of the State has been designated to implement a State program and participate in the Program;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">all legal actions necessary to enable such designated department, agency, or political subdivision to implement a State program and participate in the Program have been accomplished;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">the State has filed an application with the Secretary for approval of a State capital access program under section 3005 or approval as a State other credit support program under section 3006, in each case within the time period provided in the respective section; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><chapeau style="-uslm-dtd:text">the State and the Secretary have executed an allocation agreement that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3004/b/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">conforms to the requirements of this title;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3004/b/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">ensures that the State program complies with such national standards as are established by the Secretary under section 3009(a)(2);</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3004/b/4/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">sets forth internal control, compliance, and reporting requirements as established by the Secretary, and such other terms and conditions necessary to carry out the purposes of this title, including an agreement by the State to allow the Secretary to audit State programs;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3004/b/4/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">requires that the State program be fully positioned, within 90 days of the State’s execution of the allocation agreement with the Secretary, to act on providing the kind of credit support that the State program was established to provide; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3004/b/4/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">includes an agreement by the State to deliver to the Secretary, and update annually, a schedule describing how the State intends to apportion among its State programs the Federal funds allocated to the State.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3004/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Contractual Arrangements for Implementation of State Programs.—</heading><chapeau style="-uslm-dtd:text">A State may be approved to be a participating State, and be eligible for an allocation of Federal funds under the Program, if the State has contractual arrangements for the implementation and administration of its State program with—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">an existing, approved State program administered by another State; or</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">an authorized agent of, or entity supervised by, the State, including for-profit and not-for-profit entities.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3004/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Special Permission.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Circumstances when a municipality may apply directly.—</heading><content style="-uslm-dtd:text">If a State does not, within 60 days after the date of the enactment of section 3003(d), file with the Secretary a notice of its intent to apply for approval by the Secretary of a State program or within 9 months after the date of the enactment of section 3003(d), file with the Secretary a complete application for approval of a State program, the Secretary may grant to municipalities of that State a special permission that will allow them to apply directly to the Secretary without the State for approval to be participating municipalities.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Timing requirements applicable to municipalities applying directly.—</heading><content style="-uslm-dtd:text">To qualify for the special permission, a municipality of a State shall be required, within 12 months after the date of the enactment of section 3003(d), to file with the Secretary a complete application for approval by the Secretary of a State program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/d/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Notices of intent and applications from more than 1 municipality.—</heading><content style="-uslm-dtd:text">A municipality of a State may combine with 1 or more other municipalities of that State to file a joint notice of intent to file and a joint application.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/d/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Approval criteria.—</heading><content style="-uslm-dtd:text">The general approval criteria in paragraphs (2) and (4) shall apply.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/d/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Allocation to municipalities.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3004/d/5/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">If more than 3.—</heading><content style="-uslm-dtd:text">If more than 3 municipalities, or combination of municipalities as provided in paragraph (3), of a State apply for approval by the Secretary to be participating municipalities under this subsection, and the applications meet the approval criteria in paragraph (4), the Secretary shall allocate Federal funds to the 3 municipalities with the largest populations.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3004/d/5/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">If 3 or fewer.—</heading><content style="-uslm-dtd:text">If 3 or fewer municipalities, or combination of municipalities as provided in paragraph (3), of a State apply for approval by the Secretary to be participating municipalities under this subsection, and the applications meet the approval criteria in paragraph (4), the Secretary shall allocate Federal funds to each applicant municipality or combination of municipalities.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/d/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Apportionment of allocated amount among participating municipalities.—</heading><content style="-uslm-dtd:text">If the Secretary approves municipalities to be participating municipalities under this subsection, the Secretary shall apportion the full amount of the Federal funds that are allocated to that State to municipalities that are approved under this subsection in amounts proportionate to the population of those municipalities, based on the most recent available decennial census.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3004/d/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Approving state programs for municipalities.—</heading><content style="-uslm-dtd:text">If the Secretary approves municipalities to be participating municipalities under this subsection, the Secretary shall take into account the additional considerations in section 3006(d) in making the determination under section 3005 or 3006 that the State program or programs to be implemented by the participating municipalities, including a State capital access program, is eligible for Federal contributions to, or for the account of, the State program.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3005" styleType="OLC">
<num style="-uslm-dtd:enum" value="3005">SEC. 3005. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5704">12 U.S.C. 5704</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">APPROVING STATE CAPITAL ACCESS PROGRAMS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3005/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Application.—</heading><content style="-uslm-dtd:text">A participating State that establishes a new, or has an existing, State capital access program that meets the eligibility criteria in subsection (c) may apply to Secretary to have the State capital access program approved as eligible for Federal contributions to the reserve fund.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3005/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Approval.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall approve such State capital access program as eligible for Federal contributions to the reserve fund if—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">within 60 days after the date of the enactment of section 3003(d), the State has filed with the Secretary a notice of intent to apply for approval by the Secretary of a State capital access program;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">within 9 months after the date of the enactment of section 3003(d), the State has filed with the Secretary a complete application for approval by the Secretary of a capital access program;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">the State satisfies the requirements of subsections (a) and (b) of section 3004; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">the State capital access program meets the eligibility criteria in subsection (c).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3005/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Eligibility Criteria for State Capital Access Programs.—</heading><chapeau style="-uslm-dtd:text">For a State capital access program to be approved under this section, that program shall be required to be a program of the State that—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">provides portfolio insurance for business loans based on a separate loan-loss reserve fund for each financial institution;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">requires insurance premiums to be paid by the financial institution lenders and by the business borrowers to the reserve fund to have their loans enrolled in the reserve fund;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/c/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">provides for contributions to be made by the State to the reserve fund in amounts at least equal to the sum of the amount of the insurance premium charges paid by the borrower and the financial institution to the reserve fund for any newly enrolled loan; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/c/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><chapeau style="-uslm-dtd:text">provides its portfolio insurance solely for loans that meet both the following requirements:</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3005/c/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">The borrower has 500 employees or less at the time that the loan is enrolled in the Program.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3005/c/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">The loan amount does not exceed $5,000,000.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3005/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Federal Contributions to Approved State Capital Access Programs.—</heading><content style="-uslm-dtd:text">A State capital access program approved under this section will be eligible for receiving Federal contributions to the reserve fund in an amount equal to the sum of the amount of the insurance premium charges paid by the borrowers and by the financial institution to the reserve fund for loans that meet the requirements in subsection (c)(4). A participating State may use the Federal contribution to make its contribution to the reserve fund of an approved State capital access program.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3005/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Minimum Program Requirements for State Capital Access Programs.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall, by regulation or other guidance, prescribe Program requirements that meet the following minimum requirements:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/e/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Experience and capacity.—</heading><content style="-uslm-dtd:text">The participating State shall determine for each financial institution that participates in the State capital access program, after consultation with the appropriate Federal banking agency or, in the case of a financial institution that is a nondepository community development financial institution, the Community Development Financial Institution Fund, that the financial institution has sufficient commercial lending experience and financial and managerial capacity to participate in the approved State capital access program. The determination by the State shall not be reviewable by the Secretary.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/e/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Investment authority.—</heading><content style="-uslm-dtd:text">Subject to applicable State law, the participating State may invest, or cause to be invested, funds held in a reserve fund by establishing a deposit account at the financial institution lender in the name of the participating State. In the event that funds in the reserve fund are not deposited in such an account, such funds shall be invested in a form that the participating State determines is safe and liquid.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/e/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Loan terms and conditions to be determined by agreement.—</heading><content style="-uslm-dtd:text">A loan to be filed for enrollment in an approved State capital access program may be made with such interest rate, fees, and other terms and conditions, and the loan may be enrolled in the approved State capital access program and claims may be filed and paid, as agreed upon by the financial institution lender and the borrower, consistent with applicable law.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/e/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Lender capital at-risk.—</heading><content style="-uslm-dtd:text">A loan to be filed for enrollment in the State capital access program shall require the financial institution lender to have a meaningful amount of its own capital resources at risk in the loan.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/e/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Premium charges minimum and maximum amounts.—</heading><content style="-uslm-dtd:text">The insurance premium charges payable to the reserve fund by the borrower and the financial institution lender shall be prescribed by the financial institution lender, within minimum and maximum limits that require that the sum of the insurance premium charges paid in connection with a loan by the borrower and the financial institution lender may not be less than 2 percent nor more than 7 percent of the amount of the loan enrolled in the approved State capital access program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/e/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">State contributions.—</heading><content style="-uslm-dtd:text">In enrolling a loan in an approved State capital access program, the participating State may make a contribution to the reserve fund to supplement Federal contributions made under this Program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/e/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Loan purpose.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3005/e/7/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Particular loan purpose requirements and prohibitions.—</heading><chapeau style="-uslm-dtd:text">In connection with the filing of a loan for enrollment in an approved State capital access program, the financial institution lender—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">shall obtain an assurance from each borrower that—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/i/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">the proceeds of the loan will be used for a business purpose;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/i/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">the loan will not be used to finance such business activities as the Secretary, by regulation, may proscribe as prohibited loan purposes for enrollment in an approved State capital access program; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/i/III" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">(III) </num><chapeau style="-uslm-dtd:text">the borrower is not—</chapeau>
<item style="-uslm-dtd:item" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/i/III/aa" styleType="OLC">
<num style="-uslm-dtd:enum" value="aa">(aa) </num><content style="-uslm-dtd:text">an executive officer, director, or principal shareholder of the financial institution lender;</content>
</item>
<item style="-uslm-dtd:item" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/i/III/bb" styleType="OLC">
<num style="-uslm-dtd:enum" value="bb">(bb) </num><content style="-uslm-dtd:text">a member of the immediate family of an executive officer, director, or principal shareholder of the financial institution lender; or</content>
</item>
<item style="-uslm-dtd:item" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/i/III/cc" styleType="OLC">
<num style="-uslm-dtd:enum" value="cc">(cc) </num><content style="-uslm-dtd:text">a related interest of any such executive officer, director, principal shareholder, or member of the immediate family;</content>
</item>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">shall provide assurances to the participating State that the loan has not been made in order to place under the protection of the approved State capital access program prior debt that is not covered under the approved State capital access program and that is or was owed by the borrower to the financial institution lender or to an affiliate of the financial institution lender;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">shall not allow the enrollment of a loan to a borrower that is a refinancing of a loan previously made to that borrower by the financial institution lender or an affiliate of the financial institution lender; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3005/e/7/A/iv" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">may include additional restrictions on the eligibility of loans or borrowers that are not inconsistent with the provisions and purposes of this title, including compliance with all applicable Federal and State laws, regulations, ordinances, and Executive orders.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3005/e/7/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Definitions.—</heading><content style="-uslm-dtd:text">In this paragraph, the terms “<quotedText style="-uslm-dtd:quote">executive officer</quotedText>”, “<quotedText style="-uslm-dtd:quote">director</quotedText>”, “<quotedText style="-uslm-dtd:quote">principal shareholder</quotedText>”, “<quotedText style="-uslm-dtd:quote">immediate family</quotedText>”, and “<quotedText style="-uslm-dtd:quote">related interest</quotedText>” refer to the same relationship to a financial institution lender as the relationship described in part 215 of title 12 of the Code of Federal Regulations, or any successor to such part.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3005/e/8" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">Capital access for small businesses in underserved communities.—</heading><content style="-uslm-dtd:text">At the time that a State applies to the Secretary to have the State capital access program approved as eligible for Federal contributions, the State shall deliver to the Secretary a report stating how the State plans to use the Federal contributions to the reserve fund to provide access to capital for small businesses in low- and moderate-income, minority, and other underserved communities, including women- and minority-owned small businesses.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3006" styleType="OLC">
<num style="-uslm-dtd:enum" value="3006">SEC. 3006. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5705">12 U.S.C. 5705</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">APPROVING COLLATERAL SUPPORT AND OTHER INNOVATIVE CREDIT ACCESS AND GUARANTEE INITIATIVES FOR SMALL BUSINESSES AND MANUFACTURERS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3006/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Application.—</heading><content style="-uslm-dtd:text">A participating State that establishes a new, or has an existing, credit support program that meets the eligibility criteria in subsection (c) may apply to the Secretary to have the State other credit support program approved as eligible for Federal contributions to, or for the account of, the State program.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3006/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Approval.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall approve such State other credit support program as eligible for Federal contributions to, or for the account of, the program if—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">the Secretary determines that the State satisfies the requirements of paragraphs (1) through (3) of section 3005(b);</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the Secretary determines that the State other credit support program meets the eligibility criteria in subsection (c);</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">the Secretary determines the State other credit support program to be eligible based on the additional considerations in subsection (d); and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">within 9 months after the date of the enactment of section 3003(d), the State has filed with Treasury a complete application for Treasury approval.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3006/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Eligibility Criteria for State Other Credit Support Programs.—</heading><chapeau style="-uslm-dtd:text">For a State other credit support program to be approved under this section, that program shall be required to be a program of the State that—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">can demonstrate that, at a minimum, $1 of public investment by the State program will cause and result in $1 of new private credit;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">can demonstrate a reasonable expectation that, when considered with all other State programs of the State, such State programs together have the ability to use amounts of new Federal contributions to, or for the account of, all such programs in the State to cause and result in amounts of new small business lending at least 10 times the new Federal contribution amount;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/c/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">for those State other credit support programs that provide their credit support through 1 or more financial institution lenders, requires the financial institution lenders to have a meaningful amount of their own capital resources at risk in their small business lending; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/c/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><chapeau style="-uslm-dtd:text">uses Federal funds allocated under this title to extend credit support that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3006/c/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">targets an average borrower size of 500 employees or less;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3006/c/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">does not extend credit support to borrowers that have more than 750 employees;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3006/c/4/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">targets support towards loans with an average principal amount of $5,000,000 or less; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3006/c/4/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">does not extend credit support to loans that exceed a principal amount of $20,000,000.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3006/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Additional Considerations.—</heading><chapeau style="-uslm-dtd:text">In making a determination that a State other credit support program is eligible for Federal contributions to, or for the account of, the State program, the Secretary shall take into account the following additional considerations:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">The anticipated benefits to the State, its businesses, and its residents to be derived from the Federal contributions to, or for the account of, the approved State other credit support program, including the extent to which resulting small business lending will expand economic opportunities.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">The operational capacity, skills, and experience of the management team of the State other credit support program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/d/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">The capacity of the State other credit support program to manage increases in the volume of its small business lending.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/d/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">The internal accounting and administrative controls systems of the State other credit support program, and the extent to which they can provide reasonable assurance that funds of the State program are safeguarded against waste, loss, unauthorized use, or misappropriation.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/d/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">The soundness of the program design and implementation plan of the State other credit support program.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3006/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Federal Contributions to Approved State Other Credit Support Programs.—</heading><content style="-uslm-dtd:text">A State other credit support program approved under this section will be eligible for receiving Federal contributions to, or for the account of, the State program in an amount consistent with the schedule describing the apportionment of allocated Federal funds among State programs delivered by the State to the Secretary under the allocation agreement.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3006/f" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Minimum Program Requirements for State Other Credit Support Programs.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/f/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Fund to prescribe.—</heading><content style="-uslm-dtd:text">The Secretary shall, by regulation or other guidance, prescribe Program requirements for approved State other credit support programs.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3006/f/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Considerations for fund.—</heading><content style="-uslm-dtd:text">In prescribing minimum Program requirements for approved State other credit support programs, the Secretary shall take into consideration, to the extent the Secretary determines applicable and appropriate, the minimum Program requirements for approved State capital access programs in section 3005(e).</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3007" styleType="OLC">
<num style="-uslm-dtd:enum" value="3007">SEC. 3007. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5706">12 U.S.C. 5706</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">REPORTS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3007/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Quarterly Use-of-funds Report.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3007/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not later than 30 days after the beginning of each calendar quarter, beginning after the first full calendar quarter to occur after the date the Secretary approves a State for participation, the participating State shall submit to the Secretary a report on the use of Federal funding by the participating State during the previous calendar quarter.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3007/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Report contents.—</heading><chapeau style="-uslm-dtd:text">Each report under this subsection shall—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3007/a/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">indicate the total amount of Federal funding used by the participating State; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3007/a/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">include a certification by the participating State that—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3007/a/2/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the information provided in accordance with subparagraph (A) is accurate;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3007/a/2/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">funds continue to be available and legally committed to contributions by the State to, or for the account of, approved State programs, less any amount that has been contributed by the State to, or for the account of, approved State programs subsequent to the State being approved for participation in the Program; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIII/s3007/a/2/B/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">the participating State is implementing its approved State program or programs in accordance with this title and regulations issued under section 3010.</content>
</clause>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3007/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Annual Report.—</heading><chapeau style="-uslm-dtd:text">Not later than March 31 of each year, beginning March 31, 2022, each participating State shall submit to the Secretary an annual report that shall include the following information:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3007/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">The number of borrowers that received new loans originated under the approved State program or programs after the State program was approved as eligible for Federal contributions.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3007/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">The total amount of such new loans.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3007/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">Breakdowns by industry type, loan size, annual sales, and number of employees of the borrowers that received such new loans.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3007/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">The zip code of each borrower that received such a new loan.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3007/b/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">Such other data as the Secretary, in the Secretary’s sole discretion, may require to carry out the purposes of the Program.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3007/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Form.—</heading><content style="-uslm-dtd:text">The reports and data filed under subsections (a) and (b) shall be in such form as the Secretary, in the Secretary’s sole discretion, may require.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3007/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Termination of Reporting Requirements.—</heading><content style="-uslm-dtd:text">The requirement to submit reports under subsections (a) and (b) shall terminate for a participating State with the submission of the completed reports due on the first March 31 to occur after 5 complete 12-month periods after the State is approved by the Secretary to be a participating State.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3008" styleType="OLC">
<num style="-uslm-dtd:enum" value="3008">SEC. 3008. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5707">12 U.S.C. 5707</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">REMEDIES FOR STATE PROGRAM TERMINATION OR FAILURES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3008/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Remedies.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3008/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">If any of the events listed in paragraph (2) occur, the Secretary, in the Secretary’s discretion, may—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3008/a/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">reduce the amount of Federal funds allocated to the State under the Program; or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3008/a/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">terminate any further transfers of allocated amounts that have not yet been transferred to the State.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3008/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Causal events.—</heading><chapeau style="-uslm-dtd:text">The events referred to in paragraph (1) are—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3008/a/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">termination by a participating State of its participation in the Program;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3008/a/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">failure on the part of a participating State to submit complete reports under section 3007 on a timely basis; or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3008/a/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">noncompliance by the State with the terms of the allocation agreement between the Secretary and the State.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3008/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Deallocated Amounts To Be Reallocated.—</heading><content style="-uslm-dtd:text">If, after 13 months, any portion of the amount of Federal funds allocated to a participating State is deemed by the Secretary to be no longer allocated to the State after actions taken by the Secretary under subsection (a)(1), the Secretary shall reallocate that portion among the participating States, excluding the State whose allocated funds were deemed to be no longer allocated, as provided in section 3003(b).</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3009" styleType="OLC">
<num style="-uslm-dtd:enum" value="3009">SEC. 3009. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5708">12 U.S.C. 5708</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">IMPLEMENTATION AND ADMINISTRATION. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3009/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">General Authorities and Duties.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3009/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">consult with the Administrator of the Small Business Administration and the appropriate Federal banking agencies on the administration of the Program;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3009/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">establish minimum national standards for approved State programs;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3009/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">provide technical assistance to States for starting State programs and generally disseminate best practices;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3009/a/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">manage, administer, and perform necessary program integrity functions for the Program; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3009/a/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">ensure adequate oversight of the approved State programs, including oversight of the cash flows, performance, and compliance of each approved State program.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3009/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Appropriations.—</heading><content style="-uslm-dtd:text">There is hereby appropriated to the Secretary, out of funds in the Treasury not otherwise appropriated, $1,500,000,000 to carry out the Program, including to pay reasonable costs of administering the Program.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3009/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Termination of Secretary’s Program Administration Functions.—</heading><content style="-uslm-dtd:text">The authorities and duties of the Secretary to implement and administer the Program shall terminate at the end of the 7-year period beginning on the date of the enactment of section 3003(d).</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3009/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Expedited Contracting.—</heading><content style="-uslm-dtd:text">During the 1-year period beginning on the date of the enactment of section 3003(d), the Secretary may enter into contracts without regard to any other provision of law regarding public contracts, for purposes of carrying out this title.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3009/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Technical Assistance.—</heading><chapeau style="-uslm-dtd:text">Of the amounts appropriated for fiscal year 2021 to carry out the Program, $500,000,000 may be used by the Secretary to—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3009/e/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">provide funds to States to carry out a technical assistance plan under which a State will provide legal, accounting, and financial advisory services, either directly or contracted with legal, accounting, and financial advisory firms, with priority given to business enterprises owned and controlled by socially and economically disadvantaged individuals, to very small businesses and business enterprises owned and controlled by socially and economically disadvantaged individuals applying for—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3009/e/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">State programs under the Program; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3009/e/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">other State or Federal programs that support small businesses;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3009/e/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">transfer amounts to the Minority Business Development Agency, so that the Agency may use such amounts in a manner the Agency determines appropriate, including through contracting with third parties, to provide technical assistance to business enterprises owned and controlled by socially and economically disadvantaged individuals applying to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3009/e/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">State programs under the Program; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3009/e/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">other State or Federal programs that support small businesses; and</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3009/e/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">contract with legal, accounting, and financial advisory firms (with priority given to business enterprises owned and controlled by socially and economically disadvantaged individuals), to provide technical assistance to business enterprises owned and controlled by socially and economically disadvantaged individuals applying to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3009/e/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">State programs under the Program; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIII/s3009/e/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">other State or Federal programs that support small businesses.</content>
</subparagraph>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3010" styleType="OLC">
<num style="-uslm-dtd:enum" value="3010">SEC. 3010. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5709">12 U.S.C. 5709</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">REGULATIONS. </heading>
<content style="-uslm-dtd:text" class="block">The Secretary, in consultation with the Administrator of the Small Business Administration, shall issue such regulations and other guidance as the Secretary determines necessary or appropriate to implement this title including to define terms, to establish compliance and reporting requirements, and such other terms and conditions necessary to carry out the purposes of this title.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIII/s3011" styleType="OLC">
<num style="-uslm-dtd:enum" value="3011">SEC. 3011. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s5710">12 U.S.C. 5710</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">OVERSIGHT AND AUDITS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3011/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Inspector General Oversight.—</heading><content style="-uslm-dtd:text">The Inspector General of the Department of the Treasury shall conduct, supervise, and coordinate audits and investigations of the use of funds made available under the Program.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3011/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Required Certification.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3011/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Financial institutions certification.—</heading><content style="-uslm-dtd:text">With respect to funds received by a participating State under the Program, any financial institution that receives a loan, a loan guarantee, or other financial assistance using such funds after the date of the enactment of section 3003(d) shall certify that such institution is in compliance with the requirements of section 103.121 of title 31, Code of Federal Regulations, a regulation that, at a minimum, requires financial institutions, as that term is defined in section 5312 (a)(2) and (c)(1)(A) of title 31, United States Code, to implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable, maintain records of the information used to verify the person’s identity, and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the financial institution by any government agency.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIII/s3011/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Sex offense certification.—</heading><content style="-uslm-dtd:text">With respect to funds received by a participating State under the Program, any private entity that receives a loan, a loan guarantee, or other financial assistance using such funds after the date of the enactment of section 3003(d) shall certify to the participating State that the principals of such entity have not been convicted of a sex offense against a minor (as such terms are defined in section 111 of the Sex Offender Registration and Notification Act (42 U.S.C. 16911)).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIII/s3011/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Prohibition on Pornography.—</heading><content style="-uslm-dtd:text">None of the funds made available under this title may be used to pay the salary of any individual engaged in activities related to the Program who has been officially disciplined for violations of subpart G of the Standards of Ethical Conduct for Employees of the Executive Branch for viewing, downloading, or exchanging pornography, including child pornography, on a Federal Government computer or while performing official Federal Government duties.</content>
</subsection>
</section>
<num style="-uslm-dtd:enum" value="IV">TITLE IV—</num><heading style="-uslm-dtd:header">ADDITIONAL SMALL BUSINESS PROVISIONS </heading>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tIV/stA">
<num style="-uslm-dtd:enum" value="A">Subtitle A—</num><heading style="-uslm-dtd:header">Small Business Lending Fund </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4101" styleType="OLC">
<num style="-uslm-dtd:enum" value="4101">SEC. 4101. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">PURPOSE. </heading>
<content style="-uslm-dtd:text" class="block">The purpose of this subtitle is to address the ongoing effects of the financial crisis on small businesses by providing temporary authority to the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4102" styleType="OLC" role="definitions">
<num style="-uslm-dtd:enum" value="4102">SEC. 4102. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">DEFINITIONS. </heading>
<chapeau style="-uslm-dtd:text" class="block">For purposes of this subtitle:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Appropriate committees of congress.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">appropriate committees of Congress</term>” means—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the Committee on Small Business and Entrepreneurship, the Committee on Agriculture, Nutrition, and Forestry, the Committee on Banking, Housing, and Urban Affairs, the Committee on Finance, the Committee on the Budget, and the Committee on Appropriations of the Senate; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the Committee on Small Business, the Committee on Agriculture, the Committee on Financial Services, the Committee on Ways and Means, the Committee on the Budget, and the Committee on Appropriations of the House of Representatives.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Appropriate federal banking agency.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">appropriate Federal banking agency</term>” has the meaning given such term under section 3(q) of the Federal Deposit Insurance Act (12 U.S.C. 1813(q)).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Bank holding company.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">bank holding company</term>” has the meaning given such term under section 2(a)(1) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(2)(a)(1)).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Call report.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">call report</term>” means—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">reports of Condition and Income submitted to the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the Office of Thrift Supervision Thrift Financial Report;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/4/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">any report that is designated by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, or the Office of Thrift Supervision, as applicable, as a successor to any report referred to in subparagraph (A) or (B);</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/4/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">reports of Condition and Income as designated through guidance developed by the Secretary, in consultation with the Director of the Community Development Financial Institutions Fund; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/4/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">with respect to an eligible institution for which no report exists that is described under subparagraph (A), (B), (C), or (D), such other report or set of information as the Secretary, in consultation with the Administrator of the Small Business Administration, may prescribe.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">CDCI.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">CDCI</term>” means the Community Development Capital Initiative created by the Secretary under the Troubled Asset Relief Program established by the Emergency Economic Stabilization Act of 2008.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">CDCI investment.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">CDCI investment</term>” means, with respect to any eligible institution, the principal amount of any investment made by the Secretary in such eligible institution under the CDCI that has not been repaid.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">CDFI; community development financial institution.—</heading><content style="-uslm-dtd:text">The terms “<term style="-uslm-dtd:quote">CDFI</term>” and “<term style="-uslm-dtd:quote">community development financial institution</term>” have the meaning given the term “<term style="-uslm-dtd:quote">community development financial institution</term>” under the Riegle Community Development and Regulatory Improvement Act of 1994.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/8" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">CDLF; community development loan fund.—</heading><chapeau style="-uslm-dtd:text">The terms “<term style="-uslm-dtd:quote">CDLF</term>” and “<term style="-uslm-dtd:quote">community development loan fund</term>” mean any entity that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/8/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">is certified by the Department of the Treasury as a community development financial institution loan fund;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/8/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">is exempt from taxation under the Internal Revenue Code of 1986; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/8/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">had assets less than or equal to $10,000,000,000 as of the end of the fourth quarter of calendar year 2009.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/9" styleType="OLC">
<num style="-uslm-dtd:enum" value="9">(9) </num><heading style="-uslm-dtd:header">CPP.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">CPP</term>” means the Capital Purchase Program created by the Secretary under the Troubled Asset Relief Program established by the Emergency Economic Stabilization Act of 2008.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/10" styleType="OLC">
<num style="-uslm-dtd:enum" value="10">(10) </num><heading style="-uslm-dtd:header">CPP investment.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">CPP investment</term>” means, with respect to any eligible institution, the principal amount of any investment made by the Secretary in such eligible institution under the CPP that has not been repaid.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/11" styleType="OLC">
<num style="-uslm-dtd:enum" value="11">(11) </num><heading style="-uslm-dtd:header">Eligible institution.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">eligible institution</term>” means—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/11/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">any insured depository institution, which—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/11/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">is not controlled by a bank holding company or savings and loan holding company that is also an eligible institution;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/11/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">has total assets of equal to or less than $10,000,000,000, as reported in the call report of the insured depository institution as of the end of the fourth quarter of calendar year 2009; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/11/A/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">is not directly or indirectly controlled by any company or other entity that has total consolidated assets of more than $10,000,000,000, as so reported;</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/11/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">any bank holding company which has total consolidated assets of equal to or less than $10,000,000,000, as reported in the call report of the bank holding company as of the end of the fourth quarter of calendar year 2009;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/11/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">any savings and loan holding company which has total consolidated assets of equal to or less than $10,000,000,000, as reported in the call report of the savings and loan holding company as of the end of the fourth quarter of calendar year 2009; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/11/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">any community development financial institution loan fund which has total assets of equal to or less than $10,000,000,000, as reported in audited financial statements for the fiscal year of the community development financial institution loan fund that ends in calendar year 2009.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/12" styleType="OLC">
<num style="-uslm-dtd:enum" value="12">(12) </num><heading style="-uslm-dtd:header">Fund.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">Fund</term>” means the Small Business Lending Fund established under section 4103(a)(1).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/13" styleType="OLC">
<num style="-uslm-dtd:enum" value="13">(13) </num><heading style="-uslm-dtd:header">Insured depository institution.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">insured depository institution</term>” has the meaning given such term under section 3(c)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1813(c)(2)).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/14" styleType="OLC">
<num style="-uslm-dtd:enum" value="14">(14) </num><heading style="-uslm-dtd:header">Minority-owned and women-owned business.—</heading><content style="-uslm-dtd:text">The terms “<term style="-uslm-dtd:quote">minority-owned business</term>” and “<term style="-uslm-dtd:quote">women-owned business</term>” shall have the meaning given the terms “<term style="-uslm-dtd:quote">minority-owned business</term>” and “<term style="-uslm-dtd:quote">women’s business</term>”, respectively, under section 21A(r)(4) of the Federal Home Loan Bank Act (12 U.S.C. 1441A(r)(4)).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/15" styleType="OLC">
<num style="-uslm-dtd:enum" value="15">(15) </num><heading style="-uslm-dtd:header">Program.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">Program</term>” means the Small Business Lending Fund Program authorized under section 4103(a)(2).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/16" styleType="OLC">
<num style="-uslm-dtd:enum" value="16">(16) </num><heading style="-uslm-dtd:header">Savings and loan holding company.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">savings and loan holding company</term>” has the meaning given such term under section 10(a)(1)(D) of the Home Owners’ Loan Act (12 U.S.C. 1467a(a)(1)(D)).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/17" styleType="OLC">
<num style="-uslm-dtd:enum" value="17">(17) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">Secretary</term>” means the Secretary of the Treasury.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/18" styleType="OLC">
<num style="-uslm-dtd:enum" value="18">(18) </num><heading style="-uslm-dtd:header">Small business lending.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/18/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">small business lending</term>” means lending, as defined by and reported in an eligible institutions’ quarterly call report, where each loan comprising such lending is one of the following types:</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/18/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">Commercial and industrial loans.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/18/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">Owner-occupied nonfarm, nonresidential real estate loans.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/18/A/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">Loans to finance agricultural production and other loans to farmers.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/18/A/iv" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">Loans secured by farmland.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/18/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Exclusion.—</heading><content style="-uslm-dtd:text">No loan that has an original amount greater than $10,000,000 or that goes to a business with more than $50,000,000 in revenues shall be included in the measure.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/18/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Treatment of holding companies.—</heading><content style="-uslm-dtd:text">In the case of eligible institutions that are bank holding companies or savings and loan holding companies having one or more insured depository institution subsidiaries, small business lending shall be measured based on the combined small business lending reported in the call report of the insured depository institution subsidiaries.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4102/19" styleType="OLC">
<num style="-uslm-dtd:enum" value="19">(19) </num><heading style="-uslm-dtd:header">Veteran-owned business.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/19/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><chapeau style="-uslm-dtd:text">The term “<term style="-uslm-dtd:quote">veteran-owned business</term>” means a business—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/19/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">more than 50 percent of the ownership or control of which is held by 1 or more veterans;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/19/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">more than 50 percent of the net profit or loss of which accrues to 1 or more veterans; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4102/19/A/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">a significant percentage of senior management positions of which are held by veterans.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4102/19/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">For purposes of this paragraph, the term “<term style="-uslm-dtd:quote">veteran</term>” has the meaning given such term in section 101(2) of title 38, United States Code.</content>
</subparagraph>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4103" styleType="OLC">
<num style="-uslm-dtd:enum" value="4103">SEC. 4103. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">SMALL BUSINESS LENDING FUND. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4103/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Fund and Program.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Fund established.—</heading><content style="-uslm-dtd:text">There is established in the Treasury of the United States a fund to be known as the “<quotedText style="-uslm-dtd:quote">Small Business Lending Fund</quotedText>”, which shall be administered by the Secretary.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Programs authorized.—</heading><content style="-uslm-dtd:text">The Secretary is authorized to establish the Small Business Lending Fund Program for using the Fund consistent with this subtitle.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4103/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Use of Fund.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Subject to paragraph (2), the Fund shall be available to the Secretary, without further appropriation or fiscal year limitation, for the costs of purchases (including commitments to purchase), and modifications of such purchases, of preferred stock and other financial instruments from eligible institutions on such terms and conditions as are determined by the Secretary in accordance with this subtitle. For purposes of this paragraph and with respect to an eligible institution, the term “<quotedText style="-uslm-dtd:quote">other financial instruments</quotedText>” shall include only debt instruments for which such eligible institution is fully liable or equity equivalent capital of the eligible institution. Such debt instruments may be subordinated to the claims of other creditors of the eligible institution.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Maximum purchase limit.—</heading><content style="-uslm-dtd:text">The aggregate amount of purchases (and commitments to purchase) made pursuant to paragraph (1) may not exceed $30,000,000,000.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Proceeds used to pay down public debt.—</heading><content style="-uslm-dtd:text">All funds received by the Secretary in connection with purchases made pursuant to paragraph (1), including interest payments, dividend payments, and proceeds from the sale of any financial instrument, shall be paid into the general fund of the Treasury for reduction of the public debt.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Limitation on purchases from cdlfs.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/b/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">Not more than 1 percent of the maximum purchase limit of the Program, pursuant to paragraph (2), may be used to make purchases from community development loan funds.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/b/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Eligibility standards.—</heading><chapeau style="-uslm-dtd:text">The Secretary, in consultation with the Community Development Financial Institutions Fund, shall develop eligibility criteria to determine the financial ability of a CDLF to participate in the Program and repay the investment. Such criteria shall include the following:</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/b/4/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">Ratio of net assets to total assets is at least 20 percent.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/b/4/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">Ratio of loan loss reserves to loans and leases 90 days or more delinquent (including loans sold with full recourse) is at least 30 percent.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/b/4/B/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><content style="-uslm-dtd:text">Positive net income measured on a 3-year rolling average.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/b/4/B/iv" styleType="OLC">
<num style="-uslm-dtd:enum" value="iv">(iv) </num><content style="-uslm-dtd:text">Operating liquidity ratio of at least 1.0 for the 4 most recent quarters and for one or both of the two preceding years.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/b/4/B/v" styleType="OLC">
<num style="-uslm-dtd:enum" value="v">(v) </num><content style="-uslm-dtd:text">Ratio of loans and leases 90 days or more delinquent (including loans sold with full recourse) to total equity plus loan loss reserves is less than 40 percent.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/b/4/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Requirement to submit audited financial statements.—</heading><content style="-uslm-dtd:text">CDLFs participating in the Program shall submit audited financial statements to the Secretary, have a clean audit opinion, and have at least 3 years of operating experience.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4103/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Credits to the Fund.—</heading><content style="-uslm-dtd:text">There shall be credited to the Fund amounts made available pursuant to section 4108, to the extent provided by appropriations Acts.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4103/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Terms.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Application.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Institutions with assets of $1,000,000,000 or less.—</heading><content style="-uslm-dtd:text">Eligible institutions having total assets equal to or less than $1,000,000,000, as reported in a call report as of the end of the fourth quarter of calendar year 2009, may apply to receive a capital investment from the Fund in an amount not exceeding 5 percent of risk-weighted assets, as reported in the call report immediately preceding the date of application, less the amount of any CDCI investment and any CPP investment.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Institutions with assets of more than $1,000,000,000 and less than or equal to $10,000,000,000.—</heading><content style="-uslm-dtd:text">Eligible institutions having total assets of more than $1,000,000,000 but less than $10,000,000,000, as of the end of the fourth quarter of calendar year 2009, may apply to receive a capital investment from the Fund in an amount not exceeding 3 percent of risk-weighted assets, as reported in the call report immediately preceding the date of application, less the amount of any CDCI investment and any CPP investment.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Treatment of holding companies.—</heading><content style="-uslm-dtd:text">In the case of an eligible institution that is a bank holding company or a savings and loan holding company having one or more insured depository institution subsidiaries, total assets shall be measured based on the combined total assets reported in the call report of the insured depository institution subsidiaries as of the end of the fourth quarter of calendar year 2009 and risk-weighted assets shall be measured based on the combined risk-weighted assets of the insured depository institution subsidiaries as reported in the call report immediately preceding the date of application.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/1/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><heading style="-uslm-dtd:header">Treatment of applicants that are institutions controlled by holding companies.—</heading><content style="-uslm-dtd:text">If an eligible institution that applies to receive a capital investment under the Program is under the control of a bank holding company or a savings and loan holding company, then the Secretary may use the Fund to purchase preferred stock or other financial instruments from the top-tier bank holding company or savings and loan holding company of such eligible institution, as applicable. For purposes of this subparagraph, the term “<quotedText style="-uslm-dtd:quote">control</quotedText>” with respect to a bank holding company shall have the same meaning as in section 2(a)(2) of the Bank Holding Company Act of 1956 (12 U.S.C. 1841(2)(a)(2)). For purposes of this subparagraph, the term “<quotedText style="-uslm-dtd:quote">control</quotedText>” with respect to a savings and loan holding company shall have the same meaning as in 10(a)(2) of the Home Owners’ Loan Act (12 U.S.C. 1467a(a)(2)).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/1/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><heading style="-uslm-dtd:header">Requirement to provide a small business lending plan.—</heading><content style="-uslm-dtd:text">At the time that an applicant submits an application to the Secretary for a capital investment under the Program, the applicant shall deliver to the appropriate Federal banking agency, and, for applicants that are State-chartered banks, to the appropriate State banking regulator, a small business lending plan describing how the applicant’s business strategy and operating goals will allow it to address the needs of small businesses in the areas it serves, as well as a plan to provide linguistically and culturally appropriate outreach, where appropriate. In the case of eligible institutions that are community development loan funds, this plan shall be submitted to the Secretary. This plan shall be confidential supervisory information.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/1/F" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">(F) </num><heading style="-uslm-dtd:header">Treatment of applicants that are community development loan funds.—</heading><content style="-uslm-dtd:text">Eligible institutions that are community development loan funds may apply to receive a capital investment from the Fund in an amount not exceeding 5 percent of total assets, as reported in the audited financial statements for the fiscal year of the eligible institution that ends in calendar year 2009.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Consultation with regulators.—</heading><chapeau style="-uslm-dtd:text">For each eligible institution that applies to receive a capital investment under the Program, the Secretary shall—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">consult with the appropriate Federal banking agency or, in the case of an eligible institution that is a nondepository community development financial institution, the Community Development Financial Institution Fund, for the eligible institution, to determine whether the eligible institution may receive such capital investment;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">in the case of an eligible institution that is a State-chartered bank, consider any views received from the State banking regulator of the State of the eligible institution regarding the financial condition of the eligible institution; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/2/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">in the case of a community development financial institution loan fund, consult with the Community Development Financial Institution Fund.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Consideration of matched private investments.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">For an eligible institution that applies to receive a capital investment under the Program, if the entity to be consulted under paragraph (2) would not otherwise recommend the eligible institution to receive the capital investment, the Secretary, in consultation with the entity to be so consulted, may consider whether the entity to be consulted would recommend the eligible institution to receive a capital investment based on the financial condition of the institution if the conditions in subparagraph (B) are satisfied.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Conditions.—</heading><chapeau style="-uslm-dtd:text">The conditions referred to in subparagraph (A) are as follows:</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/3/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">Capital sources.—</heading><content style="-uslm-dtd:text">The eligible institution shall receive capital both under the Program and from private, nongovernment investors.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/3/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><heading style="-uslm-dtd:header">Amount of capital.—</heading><content style="-uslm-dtd:text">The amount of capital to be received under the Program shall not exceed 3 percent of risk-weighted assets, as reported in the call report immediately preceding the date of application, less the amount of any CDCI investment and any CPP investment.</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/3/B/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><heading style="-uslm-dtd:header">Terms.—</heading><chapeau style="-uslm-dtd:text">The amount of capital to be received from private, nongovernment investors shall be—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/3/B/iii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">equal to or greater than 100 percent of the capital to be received under the Program; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/3/B/iii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">subordinate to the capital investment made by the Secretary under the Program.</content>
</subclause>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Ineligibility of institutions on fdic problem bank list.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/4/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">An eligible institution may not receive any capital investment under the Program, if—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/4/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">such institution is on the FDIC problem bank list; or</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/4/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">such institution has been removed from the FDIC problem bank list for less than 90 days.</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/4/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Construction.—</heading><content style="-uslm-dtd:text">Nothing in subparagraph (A) shall be construed as limiting the discretion of the Secretary to deny the application of an eligible institution that is not on the FDIC problem bank list.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/4/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">FDIC problem bank list defined.—</heading><content style="-uslm-dtd:text">For purposes of this paragraph, the term “<quotedText style="-uslm-dtd:quote">FDIC problem bank list</quotedText>” means the list of depository institutions having a current rating of 4 or 5 under the Uniform Financial Institutions Rating System, or such other list designated by the Federal Deposit Insurance Corporation.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Incentives to lend.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Requirements on preferred stock and other financial instruments.—</heading><chapeau style="-uslm-dtd:text">Any preferred stock or other financial instrument issued to Treasury by an eligible institution receiving a capital investment under the Program shall provide that—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">the rate at which dividends or interest are payable shall be 5 percent per annum initially;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><chapeau style="-uslm-dtd:text">within the first 2 years after the date of the capital investment under the Program, the rate may be adjusted based on the amount of an eligible institution’s small business lending. Changes in the amount of small business lending shall be measured against the average amount of small business lending reported by the eligible institution in its call reports for the 4 full quarters immediately preceding the date of enactment of this Act, minus adjustments from each quarterly balance in respect of—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/ii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">net loan charge offs with respect to small business lending; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/ii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">gains realized by the eligible institution resulting from mergers, acquisitions or purchases of loans after origination and syndication; which adjustments shall be determined in accordance with guidance promulgated by the Secretary; and</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><chapeau style="-uslm-dtd:text">during any calendar quarter during the initial 2-year period referred to in clause (ii), an institution’s rate shall be adjusted to reflect the following schedule, based on that institution’s change in the amount of small business lending relative to the baseline—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/iii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">if the amount of small business lending has increased by less than 2.5 percent, the dividend or interest rate shall be 5 percent;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/iii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">if the amount of small business lending has increased by 2.5 percent or greater, but by less than 5.0 percent, the dividend or interest rate shall be 4 percent;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/iii/III" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">if the amount of small business lending has increased by 5.0 percent or greater, but by less than 7.5 percent, the dividend or interest rate shall be 3 percent;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/iii/IV" styleType="OLC">
<num style="-uslm-dtd:enum" value="IV">(IV) </num><content style="-uslm-dtd:text">if the amount of small business lending has increased by 7.5 percent or greater, and but by less than 10.0 percent, the dividend or interest rate shall be 2 percent; or</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/A/iii/V" styleType="OLC">
<num style="-uslm-dtd:enum" value="V">(V) </num><content style="-uslm-dtd:text">if the amount of small business lending has increased by 10 percent or greater, the dividend or interest rate shall be 1 percent.</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Basis of initial rate.—</heading><content style="-uslm-dtd:text">The initial dividend or interest rate shall be based on call report data published in the quarter immediately preceding the date of the capital investment under the Program.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><heading style="-uslm-dtd:header">Timing of rate adjustments.—</heading><content style="-uslm-dtd:text">Any rate adjustment shall occur in the calendar quarter following the publication of call report data, such that the rate based on call report data from any one calendar quarter, which is published in the first following calendar quarter, shall be adjusted in that first following calendar quarter and payable in the second following quarter.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><heading style="-uslm-dtd:header">Rate following initial 2-year period.—</heading><content style="-uslm-dtd:text">Generally, the rate based on call report data from the eighth calendar quarter after the date of the capital investment under the Program shall be payable until the expiration of the 4½-year period that begins on the date of the investment. In the case where the amount of small business lending has remained the same or decreased relative to the institution’s baseline in the eighth quarter after the date of the capital investment under the Program, the rate shall be 7 percent until the expiration of the 4½-year period that begins on the date of the investment.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><heading style="-uslm-dtd:header">Rate following initial 4½ -year period.—</heading><content style="-uslm-dtd:text">The dividend or interest rate paid on any preferred stock or other financial instrument issued by an eligible institution that receives a capital investment under the Program shall increase to 9 percent at the end of the 4½-year period that begins on the date of the capital investment under the Program.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/F" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">(F) </num><heading style="-uslm-dtd:header">Limitation on rate reductions with respect to certain amount.—</heading><content style="-uslm-dtd:text">The reduction in the dividend or interest rate payable to Treasury by any eligible institution shall be limited such that the rate reduction shall not apply to a dollar amount of the investment made by Treasury that is greater than the dollar amount increase in the amount of small business lending realized under this program. The Secretary may issue guidelines that will apply to new capital investments limiting the amount of capital available to eligible institutions consistent with this limitation.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/G" styleType="OLC">
<num style="-uslm-dtd:enum" value="G">(G) </num><heading style="-uslm-dtd:header">Rate adjustments for s corporation.—</heading><content style="-uslm-dtd:text">Before making a capital investment in an eligible institution that is an S corporation or a corporation organized on a mutual basis, the Secretary may adjust the dividend or interest rate on the financial instrument to be issued to the Secretary, from the dividend or interest rate that would apply under subparagraphs (A) through (F), to take into account any differential tax treatment of securities issued by such eligible institution. For purpose of this subparagraph, the term “<quotedText style="-uslm-dtd:quote">S corporation</quotedText>” has the same meaning as in section 1361(a) of the Internal Revenue Code of 1986.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/H" styleType="OLC">
<num style="-uslm-dtd:enum" value="H">(H) </num><heading style="-uslm-dtd:header">Repayment deadline.—</heading><chapeau style="-uslm-dtd:text">The capital investment received by an eligible institution under the Program shall be evidenced by preferred stock or other financial instrument that—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/H/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">includes, as a term and condition, that the capital investment will—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/H/i/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">be repaid not later than the end of the 10-year period beginning on the date of the capital investment under the Program; or</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/H/i/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">at the end of such 10-year period, be subject to such additional terms as the Secretary shall prescribe, which shall include a requirement that the stock or instrument shall carry the highest dividend or interest rate payable; and</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/H/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">provides that the term and condition described under clause (i) shall not apply if the application of that term and condition would adversely affect the capital treatment of the stock or financial instrument under current or successor applicable capital provisions compared to a capital instrument with identical terms other than the term and condition described under clause (i).</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/5/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><heading style="-uslm-dtd:header">Requirements on financial instruments issued by a community development financial institution loan fund.—</heading><content style="-uslm-dtd:text">Any equity equivalent capital issued to the Treasury by a community development loan fund receiving a capital investment under the Program shall provide that the rate at which interest is payable shall be 2 percent per annum for 8 years. After 8 years, the rate at which interest is payable shall be 9 percent.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Additional incentives to repay.—</heading><content style="-uslm-dtd:text">The Secretary may, by regulation or guidance issued under section 4104(9), establish repayment incentives in addition to the incentive in paragraph (5)(E) that will apply to new capital investments in a manner that the Secretary determines to be consistent with the purposes of this subtitle.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Capital purchase program refinance.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/7/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall, in a manner that the Secretary determines to be consistent with the purposes of this subtitle, issue regulations and other guidance to permit eligible institutions to refinance securities issued to Treasury under the CDCI and the CPP for securities to be issued under the Program.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/7/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Prohibition on participation by non-paying cpp participants.—</heading><content style="-uslm-dtd:text">Subparagraph (A) shall not apply to any eligible institution that has missed more than one dividend payment due under the CPP. For purposes of this subparagraph, a CPP dividend payment that is submitted within 60 days of the due date of such payment shall not be considered a missed dividend payment.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/8" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">Outreach to minorities, women, and veterans.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall require eligible institutions receiving capital investments under the Program to provide linguistically and culturally appropriate outreach and advertising in the applicant pool describing the availability and application process of receiving loans from the eligible institution that are made possible by the Program through the use of print, radio, television or electronic media outlets which target organizations, trade associations, and individuals that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/8/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">represent or work within or are members of minority communities;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/8/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">represent or work with or are women; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/8/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">represent or work with or are veterans.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/9" styleType="OLC">
<num style="-uslm-dtd:enum" value="9">(9) </num><heading style="-uslm-dtd:header">Additional terms.—</heading><content style="-uslm-dtd:text">The Secretary may, by regulation or guidance issued under section 4104(9), make modifications that will apply to new capital investments in order to manage risks associated with the administration of the Fund in a manner consistent with the purposes of this subtitle.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4103/d/10" styleType="OLC">
<num style="-uslm-dtd:enum" value="10">(10) </num><heading style="-uslm-dtd:header">Minimum underwriting standards.—</heading><content style="-uslm-dtd:text">The appropriate Federal banking agency for an eligible institution that receives funds under the Program shall within 60 days issue guidance regarding prudent underwriting standards that must be used for loans made by the eligible institution using such funds.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4104" styleType="OLC">
<num style="-uslm-dtd:enum" value="4104">SEC. 4104. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">ADDITIONAL AUTHORITIES OF THE SECRETARY. </heading>
<chapeau style="-uslm-dtd:text" class="block">The Secretary may take such actions as the Secretary deems necessary to carry out the authorities in this subtitle, including, without limitation, the following:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4104/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">The Secretary may use the services of any agency or instrumentality of the United States or component thereof on a reimbursable basis, and any such agency or instrumentality or component thereof is authorized to provide services as requested by the Secretary using all authorities vested in or delegated to that agency, instrumentality, or component.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4104/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">The Secretary may enter into contracts, including contracts for services authorized by section 3109 of title 5, United States Code.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4104/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">The Secretary may designate any bank, savings association, trust company, security broker or dealer, asset manager, or investment adviser as a financial agent of the Federal Government and such institution shall perform all such reasonable duties related to this subtitle as financial agent of the Federal Government as may be required. The Secretary shall have authority to amend existing agreements with financial agents, entered into during the 2-year period before the date of enactment of this Act, to perform reasonable duties related to this subtitle.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4104/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">The Secretary may exercise any rights received in connection with any preferred stock or other financial instruments or assets purchased or acquired pursuant to the authorities granted under this subtitle.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4104/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">Subject to section 4103(b)(3), the Secretary may manage any assets purchased under this subtitle, including revenues and portfolio risks therefrom.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4104/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">The Secretary may sell, dispose of, transfer, exchange or enter into securities loans, repurchase transactions, or other financial transactions in regard to, any preferred stock or other financial instrument or asset purchased or acquired under this subtitle, upon terms and conditions and at a price determined by the Secretary.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4104/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><content style="-uslm-dtd:text">The Secretary may manage or prohibit conflicts of interest that may arise in connection with the administration and execution of the authorities provided under this subtitle.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4104/8" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">(8) </num><content style="-uslm-dtd:text">The Secretary may establish and use vehicles, subject to supervision by the Secretary, to purchase, hold, and sell preferred stock or other financial instruments and issue obligations.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4104/9" styleType="OLC">
<num style="-uslm-dtd:enum" value="9">(9) </num><content style="-uslm-dtd:text">The Secretary may, in consultation with the Administrator of the Small Business Administration, issue such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities or purposes of this subtitle.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4105" styleType="OLC">
<num style="-uslm-dtd:enum" value="4105">SEC. 4105. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">CONSIDERATIONS. </heading>
<chapeau style="-uslm-dtd:text" class="block">In exercising the authorities granted in this subtitle, the Secretary shall take into consideration—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4105/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">increasing the availability of credit for small businesses;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4105/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">providing funding to minority-owned eligible institutions and other eligible institutions that serve small businesses that are minority-, veteran-, and women-owned and that also serve low- and moderate-income, minority, and other underserved or rural communities;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4105/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">protecting and increasing American jobs;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4105/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">increasing the opportunity for small business development in areas with high unemployment rates that exceed the national average;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4105/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">ensuring that all eligible institutions may apply to participate in the program established under this subtitle, without discrimination based on geography;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4105/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><content style="-uslm-dtd:text">providing transparency with respect to use of funds provided under this subtitle;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4105/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><content style="-uslm-dtd:text">minimizing the cost to taxpayers of exercising the authorities;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4105/8" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">(8) </num><content style="-uslm-dtd:text">promoting and engaging in financial education to would-be borrowers; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4105/9" styleType="OLC">
<num style="-uslm-dtd:enum" value="9">(9) </num><content style="-uslm-dtd:text">providing funding to eligible institutions that serve small businesses directly affected by the discharge of oil arising from the explosion on and sinking of the mobile offshore drilling unit Deepwater Horizon and small businesses in communities that have suffered negative economic effects as a result of that discharge with particular consideration to States along the coast of the Gulf of Mexico.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4106" styleType="OLC">
<num style="-uslm-dtd:enum" value="4106">SEC. 4106. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">REPORTS. </heading>
<chapeau style="-uslm-dtd:text" class="block">The Secretary shall provide to the appropriate committees of Congress—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4106/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">within 7 days of the end of each month commencing with the first month in which transactions are made under the Program, a written report describing all of the transactions made during the reporting period pursuant to the authorities granted under this subtitle;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4106/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">after the end of March and the end of September, commencing September 30, 2010, a written report on all projected costs and liabilities, all operating expenses, including compensation for financial agents, and all transactions made by the Fund, which shall include participating institutions and amounts each institution has received under the Program; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4106/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><content style="-uslm-dtd:text">within 7 days of the end of each calendar quarter commencing with the first calendar quarter in which transactions are made under the Program, a written report detailing how eligible institutions participating in the Program have used the funds such institutions received under the Program.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4107" styleType="OLC">
<num style="-uslm-dtd:enum" value="4107">SEC. 4107. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">OVERSIGHT AND AUDITS. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4107/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Inspector General Oversight.—</heading><content style="-uslm-dtd:text">The Inspector General of the Department of the Treasury shall conduct, supervise, and coordinate audits and investigations of the Program through the Office of Small Business Lending Fund Program Oversight established under subsection (b).</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4107/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Office of Small Business Lending Fund Program Oversight.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Establishment.—</heading><content style="-uslm-dtd:text">There is hereby established within the Office of the Inspector General of the Department of the Treasury a new office to be named the “<quotedText style="-uslm-dtd:quote">Office of Small Business Lending Fund Program Oversight</quotedText>” to provide oversight of the Program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Leadership.—</heading><content style="-uslm-dtd:text">The Inspector General shall appoint a Special Deputy Inspector General for SBLF Program Oversight to lead the Office, with commensurate staff, who shall report directly to the Inspector General and who shall be responsible for the performance of all auditing and investigative activities relating to the Program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Reporting.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Inspector General shall issue a report no less than two times a year to the Congress and the Secretary devoted to the oversight provided by the Office, including any recommendations for improvements to the Program.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Recommendations.—</heading><chapeau style="-uslm-dtd:text">With respect to any deficiencies identified in a report under subparagraph (A), the Secretary shall either—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4107/b/3/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">take actions to address such deficiencies; or</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stA/s4107/b/3/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">certify to the appropriate committees of Congress that no action is necessary or appropriate.</content>
</clause>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Coordination.—</heading><content style="-uslm-dtd:text">The Inspector General, in maximizing the effectiveness of the Office, shall work with other Offices of Inspector General, as appropriate, to minimize duplication of effort and ensure comprehensive oversight of the Program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Termination.—</heading><content style="-uslm-dtd:text">The Office shall terminate at the end of the 6-month period beginning on the date on which all capital investments are repaid under the Program or the date on which the Secretary determines that any remaining capital investments will not be repaid.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">For purposes of this subsection:</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/6/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Office.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Office</quotedText>” means the Office of Small Business Lending Fund Program Oversight established under paragraph (1).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stA/s4107/b/6/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Inspector general.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Inspector General</quotedText>” means the Inspector General of the Department of the Treasury.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4107/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Required Certifications.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4107/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Eligible institution certification.—</heading><content style="-uslm-dtd:text">Each eligible institution that participates in the Program must certify that such institution is in compliance with the requirements of section 103.121 of title 31, Code of Federal Regulations, a regulation that, at a minimum, requires financial institutions, as that term is defined in 31 U.S.C. 5312(a)(2) and (c)(1)(A), to implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable, maintain records of the information used to verify the person’s identity, and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the financial institution by any government agency.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stA/s4107/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Loan recipients.—</heading><content style="-uslm-dtd:text">With respect to funds received by an eligible institution under the Program, any business receiving a loan from the eligible institution using such funds after the date of the enactment of this Act shall certify to such eligible institution that the principals of such business have not been convicted of a sex offense against a minor (as such terms are defined in section 111 of the Sex Offender Registration and Notification Act (42 U.S.C. 16911)).</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4107/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Prohibition on Pornography.—</heading><content style="-uslm-dtd:text">None of the funds made available under this subtitle may be used to pay the salary of any individual engaged in activities related to the Program who has been officially disciplined for violations of subpart G of the Standards of Ethical Conduct for Employees of the Executive Branch for viewing, downloading, or exchanging pornography, including child pornography, on a Federal Government computer or while performing official Federal Government duties.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4108" styleType="OLC">
<num style="-uslm-dtd:enum" value="4108">SEC. 4108. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">CREDIT REFORM; FUNDING. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4108/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Credit Reform.—</heading><content style="-uslm-dtd:text">The cost of purchases of preferred stock and other financial instruments made as capital investments under this subtitle shall be determined as provided under the Federal Credit Reform Act of 1990 (2 U.S.C. 661 et seq.).</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4108/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Funds Made Available.—</heading><content style="-uslm-dtd:text">There are hereby appropriated, out of funds in the Treasury not otherwise appropriated, such sums as may be necessary to pay the costs of $30,000,000,000 of capital investments in eligible institutions, including the costs of modifying such investments, and reasonable costs of administering the program of making, holding, managing, and selling the capital investments.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4109" styleType="OLC">
<num style="-uslm-dtd:enum" value="4109">SEC. 4109. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">TERMINATION AND CONTINUATION OF AUTHORITIES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4109/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Termination of Investment Authority.—</heading><content style="-uslm-dtd:text">The authority to make capital investments in eligible institutions, including commitments to purchase preferred stock or other instruments, provided under this subtitle shall terminate 1 year after the date of enactment of this Act.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4109/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Continuation of Other Authorities.—</heading><content style="-uslm-dtd:text">The authorities of the Secretary under section 4104 shall not be limited by the termination date in subsection (a).</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4110" styleType="OLC">
<num style="-uslm-dtd:enum" value="4110">SEC. 4110. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">PRESERVATION OF AUTHORITY. </heading>
<content style="-uslm-dtd:text" class="block">Nothing in this subtitle may be construed to limit the authority of the Secretary under any other provision of law.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4111" styleType="OLC">
<num style="-uslm-dtd:enum" value="4111">SEC. 4111. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">ASSURANCES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4111/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Small Business Lending Fund Separate From TARP.—</heading><content style="-uslm-dtd:text">The Small Business Lending Fund Program is established as separate and distinct from the Troubled Asset Relief Program established by the Emergency Economic Stabilization Act of 2008. An institution shall not, by virtue of a capital investment under the Small Business Lending Fund Program, be considered a recipient of the Troubled Asset Relief Program.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4111/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Change in Law.—</heading><content style="-uslm-dtd:text">If, after a capital investment has been made in an eligible institution under the Program, there is a change in law that modifies the terms of the investment or program in a materially adverse respect for the eligible institution, the eligible institution may, after consultation with the appropriate Federal banking agency for the eligible institution, repay the investment without impediment.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4112" styleType="OLC">
<num style="-uslm-dtd:enum" value="4112">SEC. 4112. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">STUDY AND REPORT WITH RESPECT TO WOMEN-OWNED, VETERAN-OWNED, AND MINORITY-OWNED BUSINESSES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4112/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Study.—</heading><content style="-uslm-dtd:text">The Secretary shall conduct a study of the impact of the Program on women-owned businesses, veteran-owned businesses, and minority-owned businesses.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4112/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than one year after the date of enactment of this Act, the Secretary shall submit to Congress a report on the results of the study conducted pursuant to subsection (a). To the extent possible, the Secretary shall disaggregate the results of such study by ethnic group and gender.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stA/s4112/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Information Provided to the Secretary.—</heading><content style="-uslm-dtd:text">Eligible institutions that participate in the Program shall provide the Secretary with such information as the Secretary may require to carry out the study required by this section.</content>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stA/s4113" styleType="OLC">
<num style="-uslm-dtd:enum" value="4113">SEC. 4113. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t12/s4741">12 U.S.C. 4741 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">SENSE OF CONGRESS. </heading>
<content style="-uslm-dtd:text" class="block">It is the sense of Congress that the Federal Deposit Insurance Corporation and other bank regulators are sending mixed messages to banks regarding regulatory capital requirements and lending standards, which is a contributing cause of decreased small business lending and increased regulatory uncertainty at community banks.</content>
</section>
</subtitle>
<subtitle style="-uslm-dtd:subtitle" identifier="/us/sComp/111/240/tIV/stB">
<num style="-uslm-dtd:enum" value="B">Subtitle B—</num><heading style="-uslm-dtd:header">Other Provisions </heading>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tIV/stB/ptI">
<num style="-uslm-dtd:enum" value="I">PART I—</num><heading style="-uslm-dtd:header">SMALL BUSINESS EXPORT PROMOTION INITIATIVES </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stB/ptI/s4221" styleType="OLC">
<num style="-uslm-dtd:enum" value="4221">SEC. 4221. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t15/s271">15 U.S.C. 271 note</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">SHORT TITLE. </heading>
<content style="-uslm-dtd:text" class="block">This part may be cited as the “<shortTitle style="-uslm-dtd:quote"><inline style="-uslm-dtd:short-title">Export Promotion Act of 2010</inline></shortTitle>”.</content>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222" styleType="OLC">
<num style="-uslm-dtd:enum" value="4222">SEC. 4222. </num><heading style="-uslm-dtd:header">GLOBAL BUSINESS DEVELOPMENT AND PROMOTION ACTIVITIES OF THE DEPARTMENT OF COMMERCE. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Increase in Employees With Responsibility for Global Business Development and Promotion Activities.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">During the 24-month period beginning on the date of the enactment of this Act, the Secretary of Commerce shall increase the number of full-time departmental employees whose primary responsibilities involve promoting or facilitating participation by United States businesses in the global marketplace and facilitating the entry into, or expansion of, such participation by United States businesses. In carrying out this subsection, the Secretary shall ensure that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/a/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the cohort of such employees is increased by not less than 80 persons; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/a/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">a substantial portion of the increased cohort is stationed outside the United States.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Enhanced focus on united states small- and medium-sized businesses.—</heading><content style="-uslm-dtd:text">In carrying out this subsection, the Secretary shall take such action as may be necessary to ensure that the activities of the Department of Commerce relating to promoting and facilitating participation by United States businesses in the global marketplace include promoting and facilitating such participation by small and medium-sized businesses in the United States.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/a/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Authorization of appropriations.—</heading><content style="-uslm-dtd:text">There are authorized to be appropriated to the Secretary for each of the fiscal years 2011 and 2012 such sums as may be necessary to carry out this section.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Additional Funding for Global Business Development and Promotion Activities of the Department of Commerce.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">There are authorized to be appropriated to the Secretary of Commerce for the period beginning on the date of the enactment of this Act and ending 18 months thereafter, $30,000,000 to promote or facilitate participation by United States businesses in the global marketplace and facilitating the entry into, or expansion of, such participation by United States businesses.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Requirements.—</heading><chapeau style="-uslm-dtd:text">In obligating and expending the funds authorized to be appropriated by paragraph (1), the Secretary of Commerce shall give preference to activities that—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/b/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">assist small- and medium-sized businesses in the United States; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4222/b/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the Secretary determines will create or sustain the greatest number of jobs in the United States and obtain the maximum return on investment.</content>
</subparagraph>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stB/ptI/s4223" styleType="OLC">
<num style="-uslm-dtd:enum" value="4223">SEC. 4223. </num><heading style="-uslm-dtd:header">ADDITIONAL FUNDING TO IMPROVE ACCESS TO GLOBAL MARKETS FOR RURAL BUSINESSES. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptI/s4223/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">There are authorized to be appropriated to the Secretary of Commerce $5,000,000 for each of the fiscal years 2011 and 2012 for improving access to the global marketplace for goods and services provided by rural businesses in the United States.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptI/s4223/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Requirements.—</heading><chapeau style="-uslm-dtd:text">In obligating and expending the funds authorized to be appropriated by subsection (a), the Secretary of Commerce shall give preference to activities that—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4223/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">assist small- and medium-sized businesses in the United States; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4223/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the Secretary determines will create or sustain the greatest number of jobs in the United States and obtain the maximum return on investment.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stB/ptI/s4224" styleType="OLC">
<num style="-uslm-dtd:enum" value="4224">SEC. 4224. </num><heading style="-uslm-dtd:header">ADDITIONAL FUNDING FOR THE EXPORTECH PROGRAM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptI/s4224/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><content style="-uslm-dtd:text">There are authorized to be appropriated to the Secretary of Commerce $11,000,000 for the period beginning on the date of the enactment of this Act and ending 18 months thereafter, to expand ExporTech, a joint program of the Hollings Manufacturing Partnership Program and the Export Assistance Centers of the Department of Commerce.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptI/s4224/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Requirements.—</heading><chapeau style="-uslm-dtd:text">In obligating and expending the funds authorized to be appropriated by subsection (a), the Secretary of Commerce shall give preference to activities that—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4224/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">assist small- and medium-sized businesses in the United States; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4224/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the Secretary determines will create or sustain the greatest number of jobs in the United States and obtain the maximum return on investment.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stB/ptI/s4225" styleType="OLC">
<num style="-uslm-dtd:enum" value="4225">SEC. 4225. </num><heading style="-uslm-dtd:header">ADDITIONAL FUNDING FOR THE MARKET DEVELOPMENT COOPERATOR PROGRAM OF THE DEPARTMENT OF COMMERCE. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptI/s4225/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">In General.—</heading><chapeau style="-uslm-dtd:text">There are authorized to be appropriated to the Secretary of Commerce for the period beginning on the date of the enactment of this Act and ending 18 months thereafter, $15,000,000 for the Manufacturing and Services unit of the International Trade Administration—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4225/a/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">to establish public-private partnerships under the Market Development Cooperator Program of the International Trade Administration; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4225/a/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><chapeau style="-uslm-dtd:text">to underwrite a portion of the start-up costs for new projects carried out under that Program to strengthen the competitiveness and market share of United States industry, not to exceed, for each such project, the lesser of—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4225/a/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">
⅓ of the total start-up costs for the project; or</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4225/a/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">$500,000.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptI/s4225/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Requirements.—</heading><chapeau style="-uslm-dtd:text">In obligating and expending the funds authorized to be appropriated by subsection (a), the Secretary of Commerce shall give preference to activities that—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4225/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">assist small- and medium-sized businesses in the United States; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4225/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">the Secretary determines will create or sustain the greatest number of jobs in the United States and obtain the maximum return on investment.</content>
</paragraph>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stB/ptI/s4226" styleType="OLC">
<num style="-uslm-dtd:enum" value="4226">SEC. 4226. </num><heading style="-uslm-dtd:header">HOLLINGS MANUFACTURING PARTNERSHIP PROGRAM; TECHNOLOGY INNOVATION PROGRAM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptI/s4226/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Hollings Manufacturing Partnership Program.—</heading><content style="-uslm-dtd:text">Section 25(f) of the National Institute of Standards and Technology Act (15 U.S.C. 278k(f)) is amended by adding at the end the following:<quotedContent style="-uslm-dtd:quoted-block">
<paragraph style="-uslm-dtd:paragraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">“(7) </num><heading style="-uslm-dtd:header">Global marketplace projects. </heading><chapeau style="-uslm-dtd:text">In making awards under this subsection, the Director, in consultation with the Manufacturing Extension Partnership Advisory Board and the Secretary of Commerce, may—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">“(A) </num><content style="-uslm-dtd:text">take into consideration whether an application has significant potential for enhancing the competitiveness of small and medium-sized United States manufacturers in the global marketplace; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">“(B) </num><content style="-uslm-dtd:text">give a preference to applications for such projects to the extent the Director deems appropriate, taking into account the broader purposes of this subsection.”</content>
</subparagraph>
</paragraph></quotedContent>.</content><editorialNote style="-uslm-dtd:legis-comment"><b>[</b>Subsection (b) was repealed by section 205(a)(2)(A) of Public Law114-329.<b>]</b> </editorialNote>
</subsection>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stB/ptI/s4227" styleType="OLC">
<num style="-uslm-dtd:enum" value="4227">SEC. 4227. </num><heading style="-uslm-dtd:header">SENSE OF THE SENATE CONCERNING FEDERAL COLLABORATION WITH STATES ON EXPORT PROMOTION ISSUES. </heading>
<chapeau style="-uslm-dtd:text" class="block">It is the sense of the Senate that the Secretary of Commerce should enhance Federal collaboration with the States on export promotion issues by—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4227/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><content style="-uslm-dtd:text">providing the necessary training to the staff at State international trade agencies to enable them to assist the United States and Foreign Commercial Service (established by section 2301 of the Export Enhancement Act of 1988 (15 U.S.C. 4721)) in providing counseling and other export services to businesses in their communities; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptI/s4227/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">entering into agreements with State international trade agencies for those agencies to deliver export promotion services in their local communities in order to extend the outreach of United States and Foreign Commercial Service programs.</content>
</paragraph>
</section>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stB/ptI/s4228" styleType="OLC">
<num style="-uslm-dtd:enum" value="4228">SEC. 4228. </num><heading style="-uslm-dtd:header">REPORT ON TARIFF AND NONTARIFF BARRIERS. </heading>
<content style="-uslm-dtd:text" class="block">Not later than 90 days after the date of the enactment of this Act, the Secretary of Commerce, in consultation with the United States Trade Representative and other appropriate entities, shall report to Congress on the tariff and nontariff barriers imposed by Colombia, the Republic of Korea, and Panama with respect to exports of articles from the United States, including articles exported or produced by small- and medium-sized businesses in the United States.</content>
</section>
</part>
<part style="-uslm-dtd:part" identifier="/us/sComp/111/240/tIV/stB/ptII">
<num style="-uslm-dtd:enum" value="II">PART II—</num><heading style="-uslm-dtd:header">MEDICARE FRAUD </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241" styleType="OLC">
<num style="-uslm-dtd:enum" value="4241">SEC. 4241. </num><editorialNote style="-uslm-dtd:usc-reference" role="uscRef"><b>[</b><ref href="/us/usc/t42/s1320a-7m">42 U.S.C. 1320a-7m</ref><b>]</b> </editorialNote><heading style="-uslm-dtd:header">USE OF PREDICTIVE MODELING AND OTHER ANALYTICS TECHNOLOGIES TO IDENTIFY AND PREVENT WASTE, FRAUD, AND ABUSE IN THE MEDICARE FEE-FOR-SERVICE PROGRAM. </heading>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/a" styleType="OLC">
<num style="-uslm-dtd:enum" value="a">(a) </num><heading style="-uslm-dtd:header">Use in the Medicare Fee-for-service Program.—</heading><content style="-uslm-dtd:text">The Secretary shall use predictive modeling and other analytics technologies (in this section referred to as “<quotedText style="-uslm-dtd:quote">predictive analytics technologies</quotedText>”) to identify improper claims for reimbursement and to prevent the payment of such claims under the Medicare fee-for-service program.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b" styleType="OLC">
<num style="-uslm-dtd:enum" value="b">(b) </num><heading style="-uslm-dtd:header">Predictive Analytics Technologies Requirements.—</heading><chapeau style="-uslm-dtd:text">The predictive analytics technologies used by the Secretary shall—</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><chapeau style="-uslm-dtd:text">capture Medicare provider and Medicare beneficiary activities across the Medicare fee-for-service program to provide a comprehensive view across all providers, beneficiaries, and geographies within such program in order to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">identify and analyze Medicare provider networks, provider billing patterns, and beneficiary utilization patterns; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">identify and detect any such patterns and networks that represent a high risk of fraudulent activity;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><content style="-uslm-dtd:text">be integrated into the existing Medicare fee-for-service program claims flow with minimal effort and maximum efficiency;</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><chapeau style="-uslm-dtd:text">be able to—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">analyze large data sets for unusual or suspicious patterns or anomalies or contain other factors that are linked to the occurrence of waste, fraud, or abuse;</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">undertake such analysis before payment is made; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/3/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">prioritize such identified transactions for additional review before payment is made in terms of the likelihood of potential waste, fraud, and abuse to more efficiently utilize investigative resources;</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><content style="-uslm-dtd:text">capture outcome information on adjudicated claims for reimbursement to allow for refinement and enhancement of the predictive analytics technologies on the basis of such outcome information, including post-payment information about the eventual status of a claim; and</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/b/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><content style="-uslm-dtd:text">prevent the payment of claims for reimbursement that have been identified as potentially wasteful, fraudulent, or abusive until such time as the claims have been verified as valid.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/c" styleType="OLC">
<num style="-uslm-dtd:enum" value="c">(c) </num><heading style="-uslm-dtd:header">Implementation Requirements.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/c/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Request for proposals.—</heading><chapeau style="-uslm-dtd:text">Not later than January 1, 2011, the Secretary shall issue a request for proposals to carry out this section during the first year of implementation. To the extent the Secretary determines appropriate—</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/c/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">the initial request for proposals may include subsequent implementation years; and</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/c/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">the Secretary may issue additional requests for proposals with respect to subsequent implementation years.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/c/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">First implementation year.—</heading><content style="-uslm-dtd:text">The initial request for proposals issued under paragraph (1) shall require the contractors selected to commence using predictive analytics technologies on July 1, 2011, in the 10 States identified by the Secretary as having the highest risk of waste, fraud, or abuse in the Medicare fee-for-service program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/c/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Second implementation year.—</heading><content style="-uslm-dtd:text">Based on the results of the report and recommendation required under subsection (e)(1)(B), the Secretary shall expand the use of predictive analytics technologies on October 1, 2012, to apply to an additional 10 States identified by the Secretary as having the highest risk of waste, fraud, or abuse in the Medicare fee-for-service program, after the States identified under paragraph (2).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/c/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Third implementation year.—</heading><content style="-uslm-dtd:text">Based on the results of the report and recommendation required under subsection (e)(2), the Secretary shall expand the use of predictive analytics technologies on January 1, 2014, to apply to the Medicare fee-for-service program in any State not identified under paragraph (2) or (3) and the commonwealths and territories.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/c/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Fourth implementation year.—</heading><content style="-uslm-dtd:text">Based on the results of the report and recommendation required under subsection (e)(3), the Secretary shall expand the use of predictive analytics technologies, beginning April 1, 2015, to apply to Medicaid and CHIP. To the extent the Secretary determines appropriate, such expansion may be made on a phased-in basis.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/c/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Option for refinement and evaluation.—</heading><content style="-uslm-dtd:text">If, with respect to the first, second, or third implementation year, the Inspector General of the Department of Health and Human Services certifies as part of the report required under subsection (e) for that year no or only nominal actual savings to the Medicare fee-for-service program, the Secretary may impose a moratorium, not to exceed 12 months, on the expansion of the use of predictive analytics technologies under this section for the succeeding year in order to refine the use of predictive analytics technologies to achieve more than nominal savings before further expansion. If a moratorium is imposed in accordance with this paragraph, the implementation dates applicable for the succeeding year or years shall be adjusted to reflect the length of the moratorium period.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d" styleType="OLC">
<num style="-uslm-dtd:enum" value="d">(d) </num><heading style="-uslm-dtd:header">Contractor Selection, Qualifications, and Data Access Requirements.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Selection.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><content style="-uslm-dtd:text">The Secretary shall select contractors to carry out this section using competitive procedures as provided for in the Federal Acquisition Regulation.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Number of contractors.—</heading><content style="-uslm-dtd:text">The Secretary shall select at least 2 contractors to carry out this section with respect to any year.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Qualifications.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">In general.—</heading><chapeau style="-uslm-dtd:text">The Secretary shall enter into a contract under this section with an entity only if the entity—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/2/A/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><chapeau style="-uslm-dtd:text">has leadership and staff who—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/2/A/i/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">have the appropriate clinical knowledge of, and experience with, the payment rules and regulations under the Medicare fee-for-service program; and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/2/A/i/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">have direct management experience and proficiency utilizing predictive analytics technologies necessary to carry out the requirements under subsection (b); or</content>
</subclause>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/2/A/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">has a contract, or will enter into a contract, with another entity that has leadership and staff meeting the criteria described in clause (i).</content>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Conflict of interest.—</heading><content style="-uslm-dtd:text">The Secretary may only enter into a contract under this section with an entity to the extent that the entity complies with such conflict of interest standards as are generally applicable to Federal acquisition and procurement.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/d/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Data access.—</heading><content style="-uslm-dtd:text">The Secretary shall provide entities with a contract under this section with appropriate access to data necessary for the entity to use predictive analytics technologies in accordance with the contract.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e" styleType="OLC">
<num style="-uslm-dtd:enum" value="e">(e) </num><heading style="-uslm-dtd:header">Reporting Requirements.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">First implementation year report.—</heading><chapeau style="-uslm-dtd:text">Not later than 3 months after the completion of the first implementation year under this section, the Secretary shall submit to the appropriate committees of Congress and make available to the public a report that includes the following:</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">A description of the implementation of the use of predictive analytics technologies during the year.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><chapeau style="-uslm-dtd:text">A certification of the Inspector General of the Department of Health and Human Services that—</chapeau>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/B/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><content style="-uslm-dtd:text">specifies the actual and projected savings to the Medicare fee-for-service program as a result of the use of predictive analytics technologies, including estimates of the amounts of such savings with respect to both improper payments recovered and improper payments avoided;</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/B/ii" styleType="OLC">
<num style="-uslm-dtd:enum" value="ii">(ii) </num><content style="-uslm-dtd:text">the actual and projected savings to the Medicare fee-for-service program as a result of such use of predictive analytics technologies relative to the return on investment for the use of such technologies and in comparison to other strategies or technologies used to prevent and detect fraud, waste, and abuse in the Medicare fee-for-service program; and</content>
</clause>
<clause style="-uslm-dtd:clause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/B/iii" styleType="OLC">
<num style="-uslm-dtd:enum" value="iii">(iii) </num><chapeau style="-uslm-dtd:text">includes recommendations regarding—</chapeau>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/B/iii/I" styleType="OLC">
<num style="-uslm-dtd:enum" value="I">(I) </num><content style="-uslm-dtd:text">whether the Secretary should continue to use predictive analytics technologies;</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/B/iii/II" styleType="OLC">
<num style="-uslm-dtd:enum" value="II">(II) </num><content style="-uslm-dtd:text">whether the use of such technologies should be expanded in accordance with the requirements of subsection (c); and</content>
</subclause>
<subclause style="-uslm-dtd:subclause" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/B/iii/III" styleType="OLC">
<num style="-uslm-dtd:enum" value="III">(III) </num><content style="-uslm-dtd:text">any modifications or refinements that should be made to increase the amount of actual or projected savings or mitigate any adverse impact on Medicare beneficiaries or providers.</content>
</subclause>
</clause>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">An analysis of the extent to which the use of predictive analytics technologies successfully prevented and detected waste, fraud, or abuse in the Medicare fee-for-service program.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/D" styleType="OLC">
<num style="-uslm-dtd:enum" value="D">(D) </num><content style="-uslm-dtd:text">A review of whether the predictive analytics technologies affected access to, or the quality of, items and services furnished to Medicare beneficiaries.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/E" styleType="OLC">
<num style="-uslm-dtd:enum" value="E">(E) </num><content style="-uslm-dtd:text">A review of what effect, if any, the use of predictive analytics technologies had on Medicare providers.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/1/F" styleType="OLC">
<num style="-uslm-dtd:enum" value="F">(F) </num><content style="-uslm-dtd:text">Any other items determined appropriate by the Secretary.</content>
</subparagraph>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Second year implementation report.—</heading><content style="-uslm-dtd:text">Not later than 3 months after the completion of the second implementation year under this section, the Secretary shall submit to the appropriate committees of Congress and make available to the public a report that includes, with respect to such year, the items required under paragraph (1) as well as any other additional items determined appropriate by the Secretary with respect to the report for such year.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Third year implementation report.—</heading><chapeau style="-uslm-dtd:text">Not later than 3 months after the completion of the third implementation year under this section, the Secretary shall submit to the appropriate committees of Congress, and make available to the public, a report that includes with respect to such year, the items required under paragraph (1), as well as any other additional items determined appropriate by the Secretary with respect to the report for such year, and the following:</chapeau>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/3/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><content style="-uslm-dtd:text">An analysis of the cost-effectiveness and feasibility of expanding the use of predictive analytics technologies to Medicaid and CHIP.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/3/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><content style="-uslm-dtd:text">An analysis of the effect, if any, the application of predictive analytics technologies to claims under Medicaid and CHIP would have on States and the commonwealths and territories.</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/e/3/C" styleType="OLC">
<num style="-uslm-dtd:enum" value="C">(C) </num><content style="-uslm-dtd:text">Recommendations regarding the extent to which technical assistance may be necessary to expand the application of predictive analytics technologies to claims under Medicaid and CHIP, and the type of any such assistance.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/f" styleType="OLC">
<num style="-uslm-dtd:enum" value="f">(f) </num><heading style="-uslm-dtd:header">Independent Evaluation and Report.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/f/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Evaluation.—</heading><content style="-uslm-dtd:text">Upon completion of the first year in which predictive analytics technologies are used with respect to claims under Medicaid and CHIP, the Secretary shall, by grant, contract, or interagency agreement, conduct an independent evaluation of the use of predictive analytics technologies under the Medicare fee-for-service program and Medicaid and CHIP. The evaluation shall include an analysis with respect to each such program of the items required for the third year implementation report under subsection (e)(3).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/f/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Report.—</heading><content style="-uslm-dtd:text">Not later than 18 months after the evaluation required under paragraph (1) is initiated, the Secretary shall submit a report to Congress on the evaluation that shall include the results of the evaluation, the Secretary’s response to such results and, to the extent the Secretary determines appropriate, recommendations for legislation or administrative actions.</content>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/g" styleType="OLC">
<num style="-uslm-dtd:enum" value="g">(g) </num><heading style="-uslm-dtd:header">Waiver Authority.—</heading><content style="-uslm-dtd:text">The Secretary may waive such provisions of titles XI, XVIII, XIX, and XXI of the Social Security Act, including applicable prompt payment requirements under titles XVIII and XIX of such Act, as the Secretary determines to be appropriate to carry out this section.</content>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/h" styleType="OLC">
<num style="-uslm-dtd:enum" value="h">(h) </num><heading style="-uslm-dtd:header">Funding.—</heading>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/h/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Appropriation.—</heading><content style="-uslm-dtd:text">Out of any funds in the Treasury not otherwise appropriated, there is appropriated to the Secretary to carry out this section, $100,000,000 for the period beginning January 1, 2011, to remain available until expended.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/h/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">Reservations.—</heading>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/h/2/A" styleType="OLC">
<num style="-uslm-dtd:enum" value="A">(A) </num><heading style="-uslm-dtd:header">Independent evaluation.—</heading><content style="-uslm-dtd:text">The Secretary shall reserve not more than 5 percent of the funds appropriated under paragraph (1) for purposes of conducting the independent evaluation required under subsection (f).</content>
</subparagraph>
<subparagraph style="-uslm-dtd:subparagraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/h/2/B" styleType="OLC">
<num style="-uslm-dtd:enum" value="B">(B) </num><heading style="-uslm-dtd:header">Application to medicaid and chip.—</heading><content style="-uslm-dtd:text">The Secretary shall reserve such portion of the funds appropriated under paragraph (1) as the Secretary determines appropriate for purposes of providing assistance to States for administrative expenses in the event of the expansion of predictive analytics technologies to claims under Medicaid and CHIP.</content>
</subparagraph>
</paragraph>
</subsection>
<subsection style="-uslm-dtd:subsection" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/i" styleType="OLC">
<num style="-uslm-dtd:enum" value="i">(i) </num><heading style="-uslm-dtd:header">Definitions.—</heading><chapeau style="-uslm-dtd:text">In this section:</chapeau>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/i/1" styleType="OLC">
<num style="-uslm-dtd:enum" value="1">(1) </num><heading style="-uslm-dtd:header">Commonwealths and territories.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">commonwealth and territories</quotedText>” includes the Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, the Commonwealth of the Northern Mariana Islands, and any other territory or possession of the United States in which the Medicare fee-for-service program, Medicaid, or CHIP operates.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/i/2" styleType="OLC">
<num style="-uslm-dtd:enum" value="2">(2) </num><heading style="-uslm-dtd:header">CHIP.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">CHIP</quotedText>” means the Children’s Health Insurance Program established under title XXI of the Social Security Act (42 U.S.C. 1397aa et seq.).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/i/3" styleType="OLC">
<num style="-uslm-dtd:enum" value="3">(3) </num><heading style="-uslm-dtd:header">Medicaid.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Medicaid</quotedText>” means the program to provide grants to States for medical assistance programs established under title XIX of the Social Security Act (42 U.S.C. 1396 et seq.).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/i/4" styleType="OLC">
<num style="-uslm-dtd:enum" value="4">(4) </num><heading style="-uslm-dtd:header">Medicare beneficiary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Medicare beneficiary</quotedText>” means an individual enrolled in the Medicare fee-for-service program.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/i/5" styleType="OLC">
<num style="-uslm-dtd:enum" value="5">(5) </num><heading style="-uslm-dtd:header">Medicare fee-for-service program.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Medicare fee-for-service program</quotedText>” means the original medicare fee-for-service program under parts A and B of title XVIII of the Social Security Act (42 U.S.C. 1395 et seq.).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/i/6" styleType="OLC">
<num style="-uslm-dtd:enum" value="6">(6) </num><heading style="-uslm-dtd:header">Medicare provider.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Medicare provider</quotedText>” means a provider of services (as defined in subsection (u) of section 1861 of the Social Security Act (42 U.S.C. 1395x)) and a supplier (as defined in subsection (d) of such section).</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/i/7" styleType="OLC">
<num style="-uslm-dtd:enum" value="7">(7) </num><heading style="-uslm-dtd:header">Secretary.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">Secretary</quotedText>” means the Secretary of Health and Human Services, acting through the Administrator of the Centers for Medicare & Medicaid Services.</content>
</paragraph>
<paragraph style="-uslm-dtd:paragraph" identifier="/us/sComp/111/240/tIV/stB/ptII/s4241/i/8" styleType="OLC">
<num style="-uslm-dtd:enum" value="8">(8) </num><heading style="-uslm-dtd:header">State.—</heading><content style="-uslm-dtd:text">The term “<quotedText style="-uslm-dtd:quote">State</quotedText>” means each of the 50 States and the District of Columbia.</content>
</paragraph>
</subsection>
</section>
</part>
</subtitle>
<num style="-uslm-dtd:enum" value="V">TITLE V—</num><heading style="-uslm-dtd:header">BUDGETARY PROVISIONS </heading>
<section style="-uslm-dtd:section" identifier="/us/sComp/111/240/tV/s5001" styleType="OLC">
<num style="-uslm-dtd:enum" value="5001">SEC. 5001. </num><heading style="-uslm-dtd:header">DETERMINATION OF BUDGETARY EFFECTS. </heading>
<content style="-uslm-dtd:text" class="block">The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go-Act of 2010, shall be determined by reference to the latest statement titled “<quotedText style="-uslm-dtd:quote">Budgetary Effects of PAYGO Legislation</quotedText>” for this Act, submitted for printing in the Congressional Record by the Chairman of the Senate Budget Committee, provided that such statement has been submitted prior to the vote on passage.</content>
</section>