[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 3468 Introduced in Senate (IS)]

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114th CONGRESS
  2d Session
                                S. 3468

  To amend the Small Business Act to expand tax credit education and 
         training for small businesses, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 29, 2016

Mr. Coons (for himself and Mr. Roberts) introduced the following bill; 
 which was read twice and referred to the Committee on Small Business 
                          and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
  To amend the Small Business Act to expand tax credit education and 
         training for small businesses, 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. DEFINITIONS.

    In this Act--
            (1) the term ``Administrator'' means the Administrator of 
        the Small Business Administration;
            (2) the term ``Commissioner'' means the Commissioner of 
        Internal Revenue; and
            (3) the term ``small business development center'' means a 
        center described in section 21 of the Small Business Act (15 
        U.S.C. 648).

SEC. 2. SBA AND IRS PARTNERSHIPS.

    Beginning not later than 180 days after the date of enactment of 
this Act, the Administrator, in consultation with the Commissioner, 
shall develop partnership agreements that--
            (1) provide for the development of--
                    (A) basic training, including in-person or modular 
                training sessions, relating to Federal income tax 
                credits that benefit small businesses and startups, 
                especially credits for research and experimentation; 
                and
                    (B) informational materials relating to such 
                credits, including Internal Revenue Service guidance 
                documents;
            (2) provide the basic training and informational materials 
        developed under paragraph (1)--
                    (A) through electronic resources, including 
                Internet-based webinars; and
                    (B) at physical locations, including small business 
                development centers; and
            (3) make such materials available to--
                    (A) business development programs administered by 
                the Small Business Administration, including Women's 
                Business Centers, Veterans Business Outreach Centers, 
                and U.S. Export Assistance Centers, and nonprofit 
                research partners such as SCORE; and
                    (B) business development entities that partner with 
                Small Business Administration programs, including 
                universities, nonprofits, business incubators, and 
                business accelerators.

SEC. 3. REPORTING REQUIREMENT.

    Not later than 180 days after the date of enactment of this Act, 
the Administrator, in consultation with the Commissioner, shall submit 
to Congress a report describing how the Small Business Administration 
and the Internal Revenue Service will--
            (1) provide outreach and educational materials to small 
        businesses, businesses of medium size, and startups regarding 
        section 41(h) of the Internal Revenue Code of 1986, as amended 
        by section 121 of the Protecting Americans from Tax Hikes Act 
        of 2015; and
            (2) help and encourage tax advisors to educate such 
        businesses about the important amendments made by such Act to 
        section 41 of such Code.

SEC. 4. SMALL BUSINESS DEVELOPMENT CENTERS.

    Section 21(c)(3) of the Small Business Act (15 U.S.C. 648(c)(3)) is 
amended--
            (1) in subparagraph (S), by striking ``and'' at the end;
            (2) in subparagraph (T), by striking the period at the end 
        and inserting ``; and''; and
            (3) by adding at the end the following:
                    ``(U) in conjunction with the Internal Revenue 
                Service, providing informational materials, education, 
                and basic training--
                            ``(i) to small businesses relating to 
                        Federal income tax credits available under the 
                        Internal Revenue Code of 1986, including--
                                    ``(I) credits available to 
                                businesses generally; and
                                    ``(II) credits available to small 
                                businesses and startups specifically, 
                                especially credits for research and 
                                experimentation; and
                            ``(ii) which may be delivered--
                                    ``(I) in person; or
                                    ``(II) through an Internet 
                                website.''.
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