[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3302 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 3302

To waive the guarantee fee for certain business loans made to veterans 
                        and spouses of veterans.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

            November 14 (legislative day, November 13), 2023

 Mrs. Shaheen introduced the following bill; which was read twice and 
    referred to the Committee on Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
To waive the guarantee fee for certain business loans made to veterans 
                        and spouses of veterans.

    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 ``Heroes Business Opportunity Act of 
2023''.

SEC. 2. WAIVER OF GUARANTEE FEE FOR CERTAIN BUSINESS LOANS MADE TO 
              VETERANS AND SPOUSES OF VETERANS.

    Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is 
amended--
            (1) in paragraph (18)--
                    (A) in subparagraph (A), in the matter preceding 
                clause (i), by striking ``With respect'' and inserting 
                ``Except as provided in subparagraph (C), with 
                respect''; and
                    (B) by adding at the end the following:
                    ``(C) Exception.--
                            ``(i) In general.--Notwithstanding 
                        subparagraph (A), the Administration may not 
                        collect a guarantee fee under subparagraph (A) 
                        with respect to a loan guaranteed under this 
                        subsection if--
                                    ``(I) the loan is not made under 
                                paragraph (36) or (37);
                                    ``(II) the loan is made to a 
                                veteran or spouse of a veteran; and
                                    ``(III) the deferred participation 
                                share of the total loan amount is not 
                                more than $1,000,000.
                            ``(ii) Definition.--In this subparagraph, 
                        the term `veteran or spouse of a veteran' 
                        means--
                                    ``(I) a veteran;
                                    ``(II) an individual who is 
                                eligible to participate in the 
                                Transition Assistance Program 
                                established under section 1144 of title 
                                10, United States Code;
                                    ``(III) a member of a reserve 
                                component of the Armed Forces named in 
                                section 10101 of title 10, United 
                                States Code;
                                    ``(IV) the spouse of an individual 
                                described in subclause (I), (II), or 
                                (III); or
                                    ``(V) the surviving spouse (as 
                                defined in section 101 of title 38, 
                                United States Code) of an individual 
                                described in subclause (I), (II), or 
                                (III) who died while serving on active 
                                duty or as a result of a disability 
                                that is service-connected (as defined 
                                in such section).''; and
            (2) in paragraph (31)--
                    (A) by striking subparagraph (G); and
                    (B) by redesignating subparagraph (H) as 
                subparagraph (G).
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