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119th CONGRESS
2d Session |
To amend the Small Business Act to provide no-collateral express loans for qualified career law enforcement officers, and for other purposes.
Mr. Bresnahan (for himself, Mr. Patronis, Mr. Meuser, and Ms. King-Hinds) introduced the following bill; which was referred to the Committee on Small Business
To amend the Small Business Act to provide no-collateral express loans for qualified career law enforcement officers, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Badge-to-Business Act”.
SEC. 2. Express loans for qualified career law enforcement officers.
Section 7(a)(31) of the Small Business Act (15 U.S.C. 636(a)(31)) is amended by adding at the end the following new subparagraph:
“(I) QUALIFIED CAREER LAW ENFORCEMENT OFFICERS.—
“(i) IN GENERAL.—Except as provided in clause (ii), the Administrator may not collect a guarantee fee described in paragraph (18) in connection with a loan made under this paragraph to a qualified career law enforcement officer on or after January 1, 2027.
“(ii) EXCEPTION.—The Administrator may waive the requirements of clause (i) if the cost to the Administration of making such loans is greater than zero for a fiscal year, and such cost is directly attributable to the cost of guaranteeing such loans.
“(iii) QUALIFIED CAREER LAW ENFORCEMENT OFFICER DEFINED.—In this subparagraph, the term ‘qualified career law enforcement officer’ means an individual who, at the time of application for an express loan, has completed not less than 10 years of service as a career law enforcement officer (as defined in section 1709 of the Omnibus Crime Control and Safe Streets Act of 1968 (34 U.S.C. 10389)) and—
“(I) if currently employed as a career law enforcement officer, is not the subject of a pending criminal investigation or administrative proceeding involving alleged misconduct relating to the individual’s official duties; or
“(II) if separated from service, was not, at the time of such separation, the subject of a pending criminal investigation or administrative proceeding involving alleged misconduct relating to the individual’s official duties.”.