[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3394 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 3394

  To establish the veterans' business center program, to improve the 
  programs for veterans of the Small Business Administration, and for 
                            other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 20, 2010

Ms. Landrieu (for herself and Ms. Snowe) introduced the following bill; 
 which was read twice and referred to the Committee on Small Business 
                          and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
  To establish the veterans' business center program, to improve the 
  programs for veterans of the Small Business Administration, 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. SHORT TITLE.

    This Act may be cited as the ``Strengthening Entrepreneurship for 
America's Veterans Act of 2010''.

SEC. 2. VETERANS' BUSINESS CENTER PROGRAM; OFFICE OF VETERANS BUSINESS 
              DEVELOPMENT.

    (a) In General.--Section 32 of the Small Business Act (15 U.S.C. 
657b) is amended by striking subsection (f) and inserting the 
following:
    ``(f) Online Coordination.--
            ``(1) Definition.--In this subsection, the term `veterans' 
        assistance provider' means--
                    ``(A) a veterans' business center established under 
                subsection (g);
                    ``(B) an employee of the Administration assigned to 
                the Office of Veterans Business Development; and
                    ``(C) a veterans business ownership representative 
                designated under subsection (g)(13)(B).
            ``(2) Establishment.--The Associate Administrator shall 
        establish an online mechanism to--
                    ``(A) provide information that assists veterans' 
                assistance providers in carrying out the activities of 
                the veterans' assistance providers; and
                    ``(B) coordinate and leverage the work of the 
                veterans' assistance providers, including by allowing a 
                veterans' assistance provider to--
                            ``(i) distribute best practices and other 
                        materials;
                            ``(ii) communicate with other veterans' 
                        assistance providers regarding the activities 
                        of the veterans' assistance provider on behalf 
                        of veterans; and
                            ``(iii) pose questions to and request input 
                        from other veterans' assistance providers.
    ``(g) Veterans' Business Center Program.--
            ``(1) Definitions.--In this subsection--
                    ``(A) the term `active duty' has the meaning given 
                that term in section 101 of title 10, United States 
                Code;
                    ``(B) the term `private nonprofit organization' 
                means an entity that is described in section 501(c) of 
                the Internal Revenue Code of 1986 and exempt from 
                taxation under section 501(a) of such Code;
                    ``(C) the term `Reservist' means a member of a 
                reserve component of the Armed Forces, as described in 
                section 10101 of title 10, United States Code;
                    ``(D) the term `Service Corps of Retired 
                Executives' means the Service Corps of Retired 
                Executives authorized under section 8(b)(1);
                    ``(E) the term `small business concern owned and 
                controlled by veterans'--
                            ``(i) has the same meaning as in section 
                        3(q); and
                            ``(ii) includes a small business concern--
                                    ``(I) not less than 51 percent of 
                                which is owned by one or more spouses 
                                of veterans or, in the case of any 
                                publicly owned business, not less than 
                                51 percent of the stock of which is 
                                owned by one or more spouses of 
                                veterans; and
                                    ``(II) the management and daily 
                                business operations of which are 
                                controlled by one or more spouses of 
                                veterans;
                    ``(F) the term `spouse', relating to a veteran, 
                service-disabled veteran, or Reservist, includes an 
                individual who is the spouse of a veteran, service-
                disabled veteran, or Reservist on the date on which the 
                veteran, service-disabled veteran, or Reservist died;
                    ``(G) the term `veterans' business center program' 
                means the program established under paragraph (2)(A); 
                and
                    ``(H) the term `women's business center' means a 
                women's business center described in section 29.
            ``(2) Program established.--
                    ``(A) In general.--The Administrator, acting 
                through the Associate Administrator, shall establish a 
                veterans' business center program, under which the 
                Associate Administrator may provide financial 
                assistance to a private nonprofit organization to 
                conduct a 5-year project for the benefit of small 
                business concerns owned and controlled by veterans, 
                which may be renewed for one or more additional 5-year 
                periods.
                    ``(B) Form of financial assistance.--Financial 
                assistance under this subsection may be in the form of 
                a grant, a contract, or a cooperative agreement.
            ``(3) Veterans' business centers.--Each private nonprofit 
        organization that receives financial assistance under this 
        subsection shall establish or operate a veterans' business 
        center (which may include establishing or operating satellite 
        offices in the region described in paragraph (5) served by that 
        private nonprofit organization) that provides to veterans 
        (including service-disabled veterans), Reservists, and the 
        spouses of veterans (including service-disabled veterans) and 
        Reservists--
                    ``(A) financial advice, including training and 
                counseling on applying for and securing business credit 
                and investment capital, preparing and presenting 
                financial statements, and managing cash flow and other 
                financial operations of a small business concern;
                    ``(B) management advice, including training and 
                counseling on the planning, organization, staffing, 
                direction, and control of each major activity and 
                function of a small business concern;
                    ``(C) marketing advice, including training and 
                counseling on identifying and segmenting domestic and 
                international market opportunities, preparing and 
                executing marketing plans, developing pricing 
                strategies, locating contract opportunities, 
                negotiating contracts, and using public relations and 
                advertising techniques; and
                    ``(D) advice, including training and counseling, 
                for Reservists and the spouses of Reservists.
            ``(4) Application.--
                    ``(A) In general.--A private nonprofit organization 
                desiring to receive financial assistance under this 
                subsection shall submit an application to the Associate 
                Administrator at such time and in such manner as the 
                Associate Administrator may require.
                    ``(B) 5-year plan.--Each application described in 
                subparagraph (A) shall include a 5-year plan on 
                proposed fundraising and training activities relating 
                to the veterans' business center.
                    ``(C) Determination and notification.--Not later 
                than 60 days after the date on which a private 
                nonprofit organization submits an application under 
                subparagraph (A), the Associate Administrator shall 
                approve or deny the application and notify the 
                applicant of the determination.
                    ``(D) Availability of application.--The Associate 
                Administrator shall make every effort to make the 
                application under subparagraph (A) available online.
            ``(5) Eligibility.--The Associate Administrator may select 
        to receive financial assistance under this subsection--
                    ``(A) a Veterans Business Outreach Center 
                established by the Administrator under section 8(b)(17) 
                on or before the day before the date of enactment of 
                this subsection; or
                    ``(B) private nonprofit organizations located in 
                various regions of the United States, as the Associate 
                Administrator determines is appropriate.
            ``(6) Selection criteria.--
                    ``(A) In general.--The Associate Administrator 
                shall establish selection criteria, stated in terms of 
                relative importance, to evaluate and rank applicants 
                under paragraph (5)(C) for financial assistance under 
                this subsection.
                    ``(B) Criteria.--The selection criteria established 
                under this paragraph shall include--
                            ``(i) the experience of the applicant in 
                        conducting programs or ongoing efforts designed 
                        to impart or upgrade the business skills of 
                        veterans, and the spouses of veterans, who own 
                        or may own small business concerns;
                            ``(ii) for an applicant for initial 
                        financial assistance under this subsection--
                                    ``(I) the ability of the applicant 
                                to begin operating a veterans' business 
                                center within a minimum amount of time; 
                                and
                                    ``(II) the geographic region to be 
                                served by the veterans' business 
                                center;
                            ``(iii) the demonstrated ability of the 
                        applicant to--
                                    ``(I) provide managerial counseling 
                                and technical assistance to 
                                entrepreneurs; and
                                    ``(II) coordinate services provided 
                                by veterans services organizations and 
                                other public or private entities; and
                            ``(iv) for any applicant for a renewal of 
                        financial assistance under this subsection, the 
                        results of the most recent examination under 
                        paragraph (10) of the veterans' business center 
                        operated by the applicant.
                    ``(C) Criteria publicly available.--The Associate 
                Administrator shall--
                            ``(i) make publicly available the selection 
                        criteria established under this paragraph; and
                            ``(ii) include the criteria in each 
                        solicitation for applications for financial 
                        assistance under this subsection.
            ``(7) Amount of assistance.--The amount of financial 
        assistance provided under this subsection to a private 
        nonprofit organization for each fiscal year shall be--
                    ``(A) not less than $150,000; and
                    ``(B) not more than $200,000.
            ``(8) Federal share.--
                    ``(A) In general.--
                            ``(i) Initial financial assistance.--Except 
                        as provided in clause (ii) and subparagraph 
                        (E), a private nonprofit organization that 
                        receives financial assistance under this 
                        subsection shall provide non-Federal 
                        contributions for the operation of the 
                        veterans' business center established by the 
                        private nonprofit organization in an amount 
                        equal to--
                                    ``(I) in each of the first and 
                                second years of the project, not less 
                                than 33 percent of the amount of the 
                                financial assistance received under 
                                this subsection; and
                                    ``(II) in each of the third through 
                                fifth years of the project, not less 
                                than 50 percent of the amount of the 
                                financial assistance received under 
                                this subsection.
                            ``(ii) Renewals.--A private nonprofit 
                        organization that receives a renewal of 
                        financial assistance under this subsection 
                        shall provide non-Federal contributions for the 
                        operation of the veterans' business center 
                        established by the private nonprofit 
                        organization in an amount equal to not less 
                        than 50 percent of the amount of the financial 
                        assistance received under this subsection.
                    ``(B) Form of non-federal share.--Not more than 50 
                percent of the non-Federal share for a project carried 
                out using financial assistance under this subsection 
                may be in the form of in-kind contributions.
                    ``(C) Timing of disbursement.--The Associate 
                Administrator may disburse not more than 25 percent of 
                the financial assistance awarded to a private nonprofit 
                organization before the private nonprofit organization 
                obtains the non-Federal share required under this 
                paragraph with respect to that award.
                    ``(D) Failure to obtain non-federal funding.--
                            ``(i) In general.--If a private nonprofit 
                        organization that receives financial assistance 
                        under this subsection fails to obtain the non-
                        Federal share required under this paragraph 
                        during any fiscal year, the private nonprofit 
                        organization may not receive a disbursement 
                        under this subsection in a subsequent fiscal 
                        year or a disbursement for any other project 
                        funded by the Administration, unless the 
                        Administrator makes a written determination 
                        that the private nonprofit organization will be 
                        able to obtain a non-Federal contribution.
                            ``(ii) Restoration.--A private nonprofit 
                        organization prohibited from receiving a 
                        disbursement under clause (i) in a fiscal year 
                        may receive financial assistance in a 
                        subsequent fiscal year if the organization 
                        obtains the non-Federal share required under 
                        this paragraph for the subsequent fiscal year.
                    ``(E) Waiver of non-federal share.--
                            ``(i) In general.--Upon request by a 
                        private nonprofit organization, and in 
                        accordance with this subparagraph, the 
                        Administrator may waive, in whole or in part, 
                        the requirement to obtain non-Federal funds 
                        under subparagraph (A) for a fiscal year. The 
                        Administrator may not waive the requirement for 
                        a private nonprofit organization to obtain non-
                        Federal funds under this subparagraph for more 
                        than a total of 2 fiscal years.
                            ``(ii) Considerations.--In determining 
                        whether to waive the requirement to obtain non-
                        Federal funds under this subparagraph, the 
                        Administrator shall consider--
                                    ``(I) the economic conditions 
                                affecting the private nonprofit 
                                organization;
                                    ``(II) the impact a waiver under 
                                this subparagraph would have on the 
                                credibility of the veterans' business 
                                center program;
                                    ``(III) the demonstrated ability of 
                                the private nonprofit organization to 
                                raise non-Federal funds; and
                                    ``(IV) the performance of the 
                                private nonprofit organization.
                            ``(iii) Limitation.--The Administrator may 
                        not waive the requirement to obtain non-Federal 
                        funds under this subparagraph if granting the 
                        waiver would undermine the credibility of the 
                        veterans' business center program.
            ``(9) Contract authority.--A veterans' business center may 
        enter into a contract with a Federal department or agency to 
        provide specific assistance to veterans, service-disabled 
        veterans, Reservists, or the spouses of veterans, service-
        disabled veterans, or Reservists. Performance of such contract 
        shall not hinder the veterans' business center in carrying out 
        the terms of the grant received by the veterans' business 
        centers from the Administrator.
            ``(10) Examination and determination of viability.--
                    ``(A) Examination.--
                            ``(i) In general.--The Associate 
                        Administrator shall conduct an annual 
                        examination of the programs and finances of 
                        each veterans' business center established or 
                        operated using financial assistance under this 
                        subsection.
                            ``(ii) Factors.--In conducting the 
                        examination under clause (i), the Associate 
                        Administrator shall consider whether the 
                        veterans' business center has failed--
                                    ``(I) to provide the information 
                                required to be provided under 
                                subparagraph (B), or the information 
                                provided by the center is inadequate;
                                    ``(II) the center has failed to 
                                comply with a requirement for 
                                participation in the veterans' business 
                                center program, as determined by the 
                                Assistant Administrator, including--
                                            ``(aa) failure to acquire 
                                        or properly document a non-
                                        Federal share;
                                            ``(bb) failure to establish 
                                        an appropriate partnership or 
                                        program for marketing and 
                                        outreach to small business 
                                        concerns;
                                            ``(cc) failure to achieve 
                                        results described in a 
                                        financial assistance agreement; 
                                        and
                                            ``(dd) failure to provide 
                                        to the Administrator a 
                                        description of the amount and 
                                        sources of any non-Federal 
                                        funding received by the center;
                                    ``(III) to carry out the 5-year 
                                plan under in paragraph (4)(B); or
                                    ``(IV) to meet the eligibility 
                                requirements under paragraph (5).
                    ``(B) Information provided.--In the course of an 
                examination under subparagraph (A), the veterans' 
                business center shall provide to the Associate 
                Administrator--
                            ``(i) an itemized cost breakdown of actual 
                        expenditures for costs incurred during the most 
                        recent full fiscal year;
                            ``(ii) documentation of the amount of non-
                        Federal contributions obtained and expended by 
                        the veterans' business center during the most 
                        recent full fiscal year; and
                            ``(iii) with respect to any in-kind 
                        contribution under paragraph (8)(B), 
                        verification of the existence and valuation of 
                        such contributions.
                    ``(C) Determination of viability.--The Associate 
                Administrator shall analyze the results of each 
                examination under this paragraph and, based on that 
                analysis, make a determination regarding the viability 
                of the programs and finances of each veterans' business 
                center.
                    ``(D) Discontinuation of funding.--
                            ``(i) In general.--The Associate 
                        Administrator may discontinue an award of 
                        financial assistance to a private nonprofit 
                        organization at any time if the Associate 
                        Administrator determines under subparagraph (C) 
                        that the veterans' business center operated by 
                        that organization is not viable.
                            ``(ii) Restoration.--The Associate 
                        Administrator may continue to provide financial 
                        assistance to a private nonprofit organization 
                        in a subsequent fiscal year if the Associate 
                        Administrator determines under subparagraph (C) 
                        that the veterans' business center is viable.
            ``(11) Privacy requirements.--
                    ``(A) In general.--Except as provided in 
                subparagraph (B), a veterans' business center 
                established or operated using financial assistance 
                provided under this subsection may not disclose the 
                name, address, or telephone number of any individual or 
                small business concern that receives advice from the 
                veterans' business center without the consent of the 
                individual or small business concern.
                    ``(B) Exception.--A veterans' business center may 
                disclose information described in subparagraph (A)--
                            ``(i) if the Administrator or Associate 
                        Administrator is ordered to make such a 
                        disclosure by a court in any civil or criminal 
                        enforcement action initiated by a Federal or 
                        State agency; or
                            ``(ii) to the extent that the Administrator 
                        or Associate Administrator determines that such 
                        a disclosure is necessary to conduct a 
                        financial audit of a veterans' business center.
                    ``(C) Administration use of information.--This 
                paragraph does not--
                            ``(i) restrict access by the Administrator 
                        to program activity data; or
                            ``(ii) prevent the Administrator from using 
                        information not described in subparagraph (A) 
                        to conduct surveys of individuals or small 
                        business concerns that receive advice from a 
                        veterans' business center.
                    ``(D) Regulations.--The Administrator shall issue 
                regulations to establish standards for requiring 
                disclosures under subparagraph (B)(ii).
            ``(12) Report.--
                    ``(A) In general.--Not later than 60 days after the 
                end of each fiscal year, 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 
                on the effectiveness of the veterans' business center 
                program in each region during the most recent full 
                fiscal year.
                    ``(B) Contents.--Each report under this paragraph 
                shall include, at a minimum, for each veterans' 
                business center established or operated using financial 
                assistance provided under this subsection--
                            ``(i) the number of individuals receiving 
                        assistance from the veterans' business center, 
                        including the number of such individuals who 
                        are--
                                    ``(I) veterans or spouses of 
                                veterans;
                                    ``(II) service-disabled veterans or 
                                spouses of service-disabled veterans; 
                                or
                                    ``(III) Reservists or spouses of 
                                Reservists;
                            ``(ii) the number of startup small business 
                        concerns formed by individuals receiving 
                        assistance from the veterans' business center, 
                        including--
                                    ``(I) veterans or spouses of 
                                veterans;
                                    ``(II) service-disabled veterans or 
                                spouses of service-disabled veterans; 
                                or
                                    ``(III) Reservists or spouses of 
                                Reservists;
                            ``(iii) the gross receipts of small 
                        business concerns that receive advice from the 
                        veterans' business center;
                            ``(iv) the employment increases or 
                        decreases of small business concerns that 
                        receive advice from the veterans' business 
                        center;
                            ``(v) to the maximum extent practicable, 
                        the increases or decreases in profits of small 
                        business concerns that receive advice from the 
                        veterans' business center; and
                            ``(vi) the results of the examination of 
                        the veterans' business center under paragraph 
                        (10).
            ``(13) Coordination of efforts and consultation.--
                    ``(A) Coordination and consultation.--To the extent 
                practicable, the Associate Administrator and each 
                private nonprofit organization that receives financial 
                assistance under this subsection shall--
                            ``(i) coordinate outreach and other 
                        activities with other programs of the 
                        Administration and the programs of other 
                        Federal agencies;
                            ``(ii) consult with technical 
                        representatives of the district offices of the 
                        Administration in carrying out activities using 
                        financial assistance under this subsection; and
                            ``(iii) provide information to the veterans 
                        business ownership representatives designated 
                        under subparagraph (B) and coordinate with the 
                        veterans business ownership representatives to 
                        increase the ability of the veterans business 
                        ownership representatives to provide services 
                        throughout the area served by the veterans 
                        business ownership representatives.
                    ``(B) Veterans business ownership 
                representatives.--
                            ``(i) Designation.--The Administrator shall 
                        designate not fewer than 1 individual in each 
                        district office of the Administration as a 
                        veterans business ownership representative, who 
                        shall communicate and coordinate activities of 
                        the district office with private nonprofit 
                        organizations that receive financial assistance 
                        under this subsection.
                            ``(ii) Initial designation.--The first 
                        individual in each district office of the 
                        Administration designated by the Administrator 
                        as a veterans business ownership representative 
                        under clause (i) shall be an individual that is 
                        employed by the Administration on the date of 
                        enactment of this subsection.
            ``(14) Existing contracts.--An award of financial 
        assistance under this subsection shall not void any contract 
        between a private nonprofit organization and the Administration 
        that is in effect on the date of such award.
    ``(h) Authorization of Appropriations.--There are authorized to be 
appropriated--
            ``(1) to carry out subsections (a) through (f), $2,000,000 
        for each of fiscal years 2011 through 2013; and
            ``(2) to carry out subsection (g)--
                    ``(A) $8,000,000 for fiscal year 2011;
                    ``(B) $8,500,000 for fiscal year 2012; and
                    ``(C) $9,000,000 for fiscal year 2013.''.
    (b) GAO Reports.--
            (1) Definitions.--In this subsection--
                    (A) the terms ``small business concern'' and 
                ``veteran'' have the meanings given those terms under 
                section 3 of the Small Business Act (15 U.S.C. 632); 
                and
                    (B) the terms ``Reservist'', ``small business 
                concern owned and controlled by veterans'', and 
                ``veterans' business center program'' have the meanings 
                given those terms in section 32(g) of the Small 
                Business Act, as added by this section.
            (2) Report on access to credit.--
                    (A) In general.--Not later than 180 days after the 
                date of enactment of this Act, the Comptroller General 
                of the United States shall submit a report regarding 
                the ability of small business concern owned and 
                controlled by veterans to access credit to--
                            (i) the Committee on Veterans' Affairs and 
                        the Committee on Small Business and 
                        Entrepreneurship of the Senate; and
                            (ii) the Committee on Veterans' Affairs and 
                        the Committee on Small Business of the House of 
                        Representatives.
                    (B) Contents.--The report submitted under 
                subparagraph (A) shall include an analysis of--
                            (i) the sources of credit used by small 
                        business concerns owned and controlled by 
                        veterans and percentage of the credit obtained 
                        by small business concern owned and controlled 
                        by veterans that is obtained from each source;
                            (ii) the default rate for small business 
                        concerns owned and controlled by veterans 
                        separately for each source of credit described 
                        in clause (i), as compared to the default rate 
                        for the source of credit for small business 
                        concerns generally;
                            (iii) the Federal lending programs 
                        available to provide credit to small business 
                        concerns owned and controlled by veterans;
                            (iv) gaps, if any, in the availability of 
                        credit for small business concerns owned and 
                        controlled by veterans that are not being 
                        filled by the Federal Government or private 
                        sources;
                            (v) obstacles faced by veterans in trying 
                        to access credit;
                            (vi) the extent to which deployment and 
                        other military responsibilities affect the 
                        credit history of veterans and Reservists; and
                            (vii) the extent to which veterans are 
                        aware of Federal programs targeted towards 
                        helping veterans access credit.
            (3) Report on veterans' business center program.--
                    (A) In general.--Not later than 60 days after the 
                end of the second fiscal year beginning after the date 
                on which the veterans' business center program is 
                established, the Comptroller General of the United 
                States shall evaluate the effectiveness of the 
                veterans' business center program, and submit to 
                Congress a report on the results of that evaluation.
                    (B) Contents.--The report submitted under 
                subparagraph (A) shall include--
                            (i) an assessment of--
                                    (I) the use of amounts made 
                                available to carry out the veterans' 
                                business center program;
                                    (II) the effectiveness of the 
                                services provided by each private 
                                nonprofit organization receiving 
                                financial assistance under the 
                                veterans' business center program;
                                    (III) whether the services 
                                described in clause (ii) are 
                                duplicative of services provided by 
                                other veteran service organizations, 
                                programs of the Small Business 
                                Administration, or programs of another 
                                Federal department or agency and, if 
                                so, recommendations regarding how to 
                                alleviate the duplication of the 
                                services; and
                                    (IV) whether there are areas of the 
                                United States in which there are not 
                                adequate entrepreneurial services for 
                                small business concerns owned and 
                                controlled by veterans and, if so, 
                                whether there is a veterans' business 
                                center established under the veterans' 
                                business center program providing 
                                services to that area; and
                            (ii) recommendations, if any, for improving 
                        the veterans' business center program.

SEC. 3. REPORTING REQUIREMENT FOR INTERAGENCY TASK FORCE.

    Section 32(c) of the Small Business Act (15 U.S.C. 657b(c)) is 
amended by adding at the end the following:
            ``(4) Report.--Not less frequently than twice each year, 
        the Administrator shall submit to Congress a report on the 
        appointments made to and activities of the task force.''.

SEC. 4. REPEAL AND RENEWAL OF GRANTS.

    (a) Definition.--In this section, the term ``covered grant, 
contract, or cooperative agreement'' means a grant, contract, or 
cooperative agreement that was--
            (1) made or entered into under section 8(b)(17) of the 
        Small Business Act (15 U.S.C. 637(b)(17)); and
            (2) in effect on or before the date described in subsection 
        (b)(2).
    (b) Repeal.--
            (1) In general.--Section 8(b) of the Small Business Act (15 
        U.S.C. 637(b)) is amended--
                    (A) in paragraph (15), by adding ``and'' at the 
                end;
                    (B) in paragraph (16), by striking ``; and'' and 
                inserting a period; and
                    (C) by striking paragraph (17).
            (2) Effective date.--The amendments made by paragraph (1) 
        shall take effect 60 days after the date of enactment of this 
        Act.
    (c) Transitional Rules.--
            (1) In general.--Notwithstanding any other provision of 
        law, a covered grant, contract, or cooperative agreement shall 
        remain in full force and effect under the terms, and for the 
        duration, of the covered grant, contract, or agreement.
            (2) Additional requirements.--Any organization that was 
        awarded or entered into a covered grant, contract, or 
        cooperative agreement shall be subject to the requirements of 
        section 32(g) of the Small Business Act (15 U.S.C. 657b(g)) (as 
        added by this Act).
    (d) Renewal of Financial Assistance.--An organization that was 
awarded or entered into a covered grant, contract, or cooperative 
agreement may apply for a renewal of the grant, contract, or agreement 
under the terms and conditions described in section 32(g) of the Small 
Business Act (15 U.S.C. 657b(g)) (as added by this Act).
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