[Congressional Record Volume 153, Number 54 (Wednesday, March 28, 2007)]
[Senate]
[Pages S4050-S4053]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. KERRY (for himself, Mr. Hagel, Mr. Cardin, Mr. Pryor, and 
        Mr. Tester):
  S. 1005. A bill to amend the Small Business Act to improve programs 
for veterans, and for other purposes; to the Committee on Small 
business and entrepreneurship.
  Mr. KERRY. Mr. President, I rise today with my colleague Senator 
Hagel, the Senator from Nebraska, to introduce the Military Reservist 
and Veteran Small Business Reauthorization Act of 2007. There are 
currently 25 million veterans in America, including over one million 
who have left military service since September 11, 2001. As the 
conflicts in Iraq and Afghanistan continue, the number of veterans, 
including service disabled veterans, will increase and reservists will 
continue to carry more of the burden than ever before. As veterans and 
reservists reenter civilian life, the economic benefits and 
opportunities provided by the Federal Government will become even more 
critical, particularly in the field of entrepreneurship and business 
ownership. As the Chairman of the Senate Committee on Small Business 
and Entrepreneurship, I am serious about addressing the problems 
affecting veterans and reservists who wish or are already engaged in 
small business and this bill is another step forward in doing so.
  As veterans, Senator Hagel and I believe that the government has an 
obligation to help deployed reservists avoid economic hardship because 
of their service and to help veterans, particularly the service-
disabled, return to civilian life when they retire. There are more 
veterans returning each day because of the war on terror--800,000 
veterans were discharged between 2002 and 2005--and ensuring that these 
individuals have a secure financial future is not just a matter of 
fairness but of national security. The treatment of our troops affects 
the Nation's ability to recruit and retain the best and brightest. 
Veterans have told me that they feel that they are being forgotten and 
that the government is simply not living up to its past promises of 
helping veteran entrepreneurs succeed. This bill is one step in 
ensuring that the government is doing all it can to help those who have 
served and sacrificed on our behalf.
  The Military Reservist and Veteran Small Business Reauthorization Act 
of 2007 reauthorizes the veteran programs in the Small Business 
Administration. Specifically, this legislation increases the funding 
authorization for the Office of Veteran Business Development from $2 
million today to $2.5 million in three years. In light of the large 
numbers of veterans returning from Iraq and Afghanistan and increased 
responsibilities placed on this office by Executive Order 13360, it is 
high time that the Office of Veteran Business Development receive the 
funding levels that it needs.
  In addition, this bill permanently extends the SBA Advisory Committee 
on Veterans Business Affairs. The committee was created to serve as an 
independent source of advice and policy recommendations to the SBA, the 
Congress, and the President. The veteran small business owners who 
serve on this committee provide a unique perspective which is sorely 
needed at this challenging time. Unfortunately, continuing uncertainty 
about the Committee's future has, at times, distracted the committee 
from focusing on its core function. Therefore, I have called for its 
permanent extension. It is clear to me that more needs to be done to 
address the issues facing veterans and reservists, and the role this 
committee plays will continue to be important.
  Additionally, I have taken a number of steps to better serve the 
reservists who are serving their country abroad while their businesses 
are suffering at home. Over the past decade, the Department of Defense 
has increased its reliance on the National Guard and reserves. This has 
intensified since September 11 and increased deployments are expected 
to continue. The effect of this increase on reservists and small 
businesses continues to remain of concern. A 2003 GAO report indicated 
that 41 percent of reservists lost income when mobilized. This had a 
higher effect on self-employed reservists, 55 percent of whom lost 
income.
  In 1999, I created the Military Reservist Economic Injury Disaster 
Loan (MREIDL) program to provide loans to small businesses that incur 
economic injury as a result of an essential employee being called to 
active duty. However, since 2002, fewer than 300 of these loans have 
been approved by the SBA, despite record numbers of reservists being 
called to active duty. It is clear that changes need to be made, so 
that reservists are informed about the availability of the MREIDL 
program and that the program better meets their needs.
  At a hearing of the Committee on Small Business and Entrepreneurship 
on January 31st, the first hearing we held in this Congress, we heard 
suggestions for a number of changes which would improve the Military 
Reservist Economic Injury Disaster Loan program, and I have included 
those changes in this bill. They include increasing the application 
deadline for such a loan from 90 days to one year following the date of 
discharge; creating a pre-deployment loan approval process; and 
improved outreach and technical assistance.
  This bill also creates a non-collaterized loan program. Reservist 
families have already sacrificed enough when a family member goes away 
to serve their country and when their business is harmed as a result. 
This loan program would allow reservist dependent businesses to access 
the capital they need to stay afloat without having to sacrifice beyond 
the service of the key employees. In order to give reservists time to 
repay the loans, the non-collaterized loan created in this bill would 
not accumulate interest or require payments for one year or until after 
the deployment ends, whichever is longer.
  In addition, because loans aren't the answer for every business--
additional debt could permanently cripple some businesses--I have also 
included a grant program for reservists. This program would allow up to 
$25,000 in grants for small businesses that can show economic injury 
because of deployment and prove that they have a viable business plan 
for the next three years. A grant program would help small businesses 
that cannot afford to take on a military reservist economic injury 
disaster loan or that were denied such a loan, but still are viable 
businesses and need assistance.
  While addressing the funding needs of reservists is essential, I also 
want to make sure that reservists receive the technical and management 
assistance they need to succeed. For that reason, this bill also 
includes the establishment of the Reservists Enterprise Transition and 
Sustainability Task Force. This grant program would allow Small 
Business Development Centers, Women's Business Centers and veteran 
centers to compete for grants to create programs that help small 
businesses prepare for and cope with the mobilization of reservist-
employees and owners.
  Veterans possess great technical skills and valuable leadership 
experience, but they require financial resources to turn that potential 
into a viable enterprise. A recent report by the Small Business 
Administration stated that 22 percent of veterans plan to start or are 
starting a business when they leave the military. For service-disabled 
veterans, this number rises to 28 percent. So the legislation I 
introduce today will create a new program, administered by the Small 
Business

[[Page S4051]]

Administration, to provide very-low-interest loans, up to $100,000, to 
help veterans start new small businesses.
  Lastly, this bill calls for two reports from the Government 
Accountability Office. One report will look at the needs of service-
disabled veterans who are interested in becoming entrepreneurs. As a 
result of the war on terror and improved medicine, we are seeing more 
service-disabled veterans than we have seen in decades. For some 
service-disabled veterans, entrepreneurship is the best or only way of 
achieving economic independence. Therefore, it is essential that we 
understand and take steps to address the needs of the service-disabled 
veteran entrepreneur or small business owner.
  I am also calling for a study to investigate allegations that the 
changes the Department of Defense has made in regard to the use of 
reservists is harming the ability of reservists to find jobs and the 
ability of small business owners to continue hiring reservists. At the 
Committee's hearing on veteran small business issues, witnesses 
testified about reservists being turned down or not considered for jobs 
because they are reservists. I have heard reservists talk about being 
pressured to leave the reserves if they would like to continue to 
advance at work. I have also heard the concerns of small business 
owners who want to support servicemembers; however, they cannot do so 
if it means the survival of their business. Understanding more about 
this issue is important and essential to making sure that policymakers 
can continue to support citizen soldiers and the small businesses that 
employ them across the Nation.
  One of the issues I am not addressing in my legislation today is 
Federal procurement. I heard clearly the concerns from veterans that 
they are not being treated fairly when it comes to selling goods and 
services to the Federal Government, and I am committed to making 
changes. However, to make real changes, changes that can pass the 
Senate and the House and become law, these changes must be part of a 
bigger package. Legislation that addresses not just the concerns of 
service-disabled veteran small business owners, but the concerns of all 
small business owners who want their fair share of Federal contracts. I 
am committed to taking the difficult steps necessary to address these 
issues and will do so.
  Mr. President, I ask unanimous consent that the text of the bill be 
printed in the Record.
  There being no objection, the text of the bill was ordered to be 
printed in the Record, as follows:

                                S. 1005

       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 ``Military Reservist and 
     Veteran Small Business Reauthorization Act of 2007''.

     SEC. 2. DEFINITIONS.

       In this Act--
       (1) the term ``activated'' means receiving an order placing 
     a Reservist on active duty;
       (2) the term ``active duty'' has the meaning given that 
     term in section 101 of title 10, United States Code;
       (3) the terms ``Administration'' and ``Administrator'' mean 
     the Small Business Administration and the Administrator 
     thereof, respectively;
       (4) 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;
       (5) the term ``Service Corps of Retired Executives'' means 
     the Service Corps of Retired Executives authorized by section 
     8(b)(1) of the Small Business Act (15 U.S.C. 637(b)(1));
       (6) the terms ``service-disabled veteran'' and ``small 
     business concern'' have the meanings given those terms in 
     section 3 of the Small Business Act (15 U.S.C. 632);
       (7) the term ``small business development center'' means a 
     small business development center described in section 21 of 
     the Small Business Act (15 U.S.C. 648); and
       (8) the term ``women's business center'' means a women's 
     business center described in section 29 of the Small Business 
     Act (15 U.S.C. 656).

                   TITLE I--MILITARY RESERVIST LOANS

     SEC. 101. GRANT ASSISTANCE FOR MILITARY RESERVISTS' SMALL 
                   BUSINESSES.

       (a) Authorization of Grants.--Section 7(b)(3)(B) of the 
     Small Business Act (15 U.S.C. 636(b)(3)(B)) is amended by 
     inserting ``or grants'' after ``or a deferred basis)''.
       (b) Grant Specifications.--Section 7(b)(3) of the Small 
     Business Act (15 U.S.C. 636(b)(3)) is amended by inserting 
     after subparagraph (F) the following:
       ``(G) Grants made under subparagraph (B)--
       ``(i) may be awarded in addition to any loan made under 
     subparagraph (B);
       ``(ii) shall not exceed $25,000; and
       ``(iii) shall be made only to a small business concern--

       ``(I) that provides a business plan demonstrating viability 
     for not less than 3 years after the date of the application 
     for that grant;
       ``(II) with 10 or fewer employees; and
       ``(III) that has not received a grant under subparagraph 
     (B) during the 2-year period ending on the date of the 
     application for that grant.''.

       (c) Authorization of Appropriations.--Section 20(e)(2) of 
     the Small Business Act (15 U.S.C. 631 note) is amended by 
     inserting after subparagraph (B) the following:
       ``(C) Grant assistance for military reservists' small 
     businesses.--There are authorized to be appropriated for 
     grants under section 7(b)(3)(B)--
       ``(i) $5,000,000 for the first fiscal year beginning after 
     the date of enactment of the Military Reservist and Veteran 
     Small Business Reauthorization Act of 2007; and
       ``(ii) $5,000,000 for each of the 2 fiscal years following 
     the fiscal year described in clause (i).''.

     SEC. 102. NONCOLLATERALIZED LOANS.

       Section 7(b)(3) of the Small Business Act (15 U.S.C. 
     636(b)(3)) is amended by inserting after subparagraph (G), as 
     added by this Act, the following:
       ``(H)(i) Notwithstanding any other provision of law, the 
     Administrator may make a loan under this paragraph of not 
     more than $100,000 without collateral.
       ``(ii) The Administrator may defer payment of principal and 
     interest on a loan described in clause (i) during the longer 
     of--
       ``(I) the 1-year period beginning on the date of the 
     initial disbursement of the loan; and
       ``(II) the period during which the relevant essential 
     employee is on active duty.''.

     SEC. 103. APPLICATION PERIOD.

       Section 7(b)(3)(C) of the Small Business Act (15 U.S.C. 
     636(b)(3)(C)) is amended by striking ``90 days'' and 
     inserting ``1 year''.

     SEC. 104. PREAPPROVAL PROCESS.

       (a) Definition.--In this section, the term ``eligible 
     Reservist'' means a Reservist who--
       (1) has not been ordered to active duty;
       (2) expects to be ordered to active duty during a period of 
     military conflict (as that term is defined in section 7(n)(1) 
     of the Small Business Act (15 U.S.C. 636(n)(1)); and
       (3) can reasonably demonstrate that the small business 
     concern for which that Reservist is a key employee will 
     suffer economic injury in the absence of that Reservist.
       (b) Establishment.--Not later than 6 months after the date 
     of enactment of this Act, the Administrator shall establish a 
     preapproval process, under which--
       (1) the Administrator may approve a loan or grant to a 
     small business concern under section 7(b)(3) of the Small 
     Business Act (15 U.S.C. 636(b)(3)), as amended by this Act, 
     before an eligible Reservist employed by that small business 
     concern is activated; and
       (2) the Administrator shall distribute funds for any loan 
     or grant approved under paragraph (1) if that eligible 
     Reservist is activated.

     SEC. 105. OUTREACH AND TECHNICAL ASSISTANCE PROGRAM.

       (a) In General.--Not later than 6 months after the date of 
     enactment of this Act, the Administrator, in consultation 
     with the Secretary of Veterans Affairs and the Secretary of 
     Defense, shall develop a comprehensive outreach and technical 
     assistance program (in this section referred to as the 
     ``program'') to--
       (1) market the loans and grants available under section 
     7(b)(3) of the Small Business Act (15 U.S.C. 636(b)(3)), as 
     amended by this Act, to Reservists, and family members of 
     Reservists, that are on active duty and that are not on 
     active duty; and
       (2) provide technical assistance to a small business 
     concern applying for a loan or grant under that section.
       (b) Components.--The program shall--
       (1) incorporate appropriate websites maintained by the 
     Administration, the Department of Veterans Affairs, and the 
     Department of Defense; and
       (2) require that information on the program is made 
     available to small business concerns directly through--
       (A) the district offices and resource partners of the 
     Administration, including small business development centers, 
     women's business centers, and the Service Corps of Retired 
     Executives; and
       (B) other Federal agencies, including the Department of 
     Veterans Affairs and the Department of Defense.
       (c) Report.--
       (1) In general.--Not later than 6 months after the date of 
     enactment of this Act, and every 6 months thereafter until 
     the date that is 30 months after such date of enactment, the 
     Administrator shall submit to Congress a report on the status 
     of the program.
       (2) Contents.--Each report submitted under paragraph (1) 
     shall include--
       (A) for the 6-month period before the date of that report--
       (i) the number of loans and grants approved under section 
     7(b)(3) of the Small Business Act (15 U.S.C. 636(b)(3)), as 
     amended by this Act;
       (ii) the number of loans and grants disbursed under that 
     section; and
       (iii) the total amount disbursed under that section; and
       (B) recommendations, if any, to make the program more 
     effective in serving small business concerns that employ 
     Reservists.

[[Page S4052]]

 TITLE II--NATIONAL RESERVIST ENTERPRISE TRANSITION AND SUSTAINABILITY

     SEC. 201. SHORT TITLE.

       This title may be cited as the ``National Reservist 
     Enterprise Transition and Sustainability Act of 2007''.

     SEC. 202. PURPOSE.

       The purpose of this title is to establish a program to--
       (1) provide managerial, financial, planning, development, 
     technical, and regulatory assistance to small business 
     concerns owned and operated by Reservists;
       (2) provide managerial, financial, planning, development, 
     technical, and regulatory assistance to the temporary heads 
     of small business concerns owned and operated by Reservists;
       (3) create a partnership between the Small Business 
     Administration, the Department of Defense, and the Department 
     of Veterans Affairs to assist small business concerns owned 
     and operated by Reservists;
       (4) utilize the service delivery network of small business 
     development centers, women's business centers, Veterans 
     Business Outreach Centers, and centers operated by the 
     National Veterans Business Development Corporation to expand 
     the access of small business concerns owned and operated by 
     Reservists to programs providing business management, 
     development, financial, procurement, technical, regulatory, 
     and marketing assistance;
       (5) utilize the service delivery network of small business 
     development centers, women's business centers, Veterans 
     Business Outreach Centers, and centers operated by the 
     National Veterans Business Development Corporation to quickly 
     respond to an activation of Reservists that own and operate 
     small business concerns; and
       (6) utilize the service delivery network of small business 
     development centers, women's business centers, Veterans 
     Business Outreach Centers, and centers operated by the 
     National Veterans Business Development Corporation to assist 
     Reservists that own and operate small business concerns in 
     preparing for future military activations.

     SEC. 203. NATIONAL GUARD AND RESERVE BUSINESS ASSISTANCE.

       (a) In General.--Section 21(a)(1) of the Small Business Act 
     (15 U.S.C. 648(a)(1)) is amended by inserting ``any small 
     business development center, women's business center, 
     Veterans Business Outreach Center, or center operated by the 
     National Veterans Business Development Corporation providing 
     enterprise transition and sustainability assistance to 
     Reservists under section 37,'' after ``any women's business 
     center operating pursuant to section 29,''.
       (b) Program.--The Small Business Act (15 U.S.C. 631 et 
     seq.) is amended--
       (1) by redesignating section 37 (15 U.S.C. 631 note) as 
     section 38; and
       (2) by inserting after section 36 the following:

     ``SEC. 37. RESERVIST ENTERPRISE TRANSITION AND 
                   SUSTAINABILITY.

       ``(a) In General.--The Administrator shall establish a 
     program to provide business planning assistance to small 
     business concerns owned and operated by Reservists.
       ``(b) Definitions.--In this section--
       ``(1) the terms `activated' and `activation' mean having 
     received an order placing a Reservists on active duty, as 
     defined by section 101(1) of title 10, United States Code;
       ``(2) the term `Administrator' means the Administrator of 
     the Small Business Administration, acting through the 
     Associate Administrator for Small Business Development 
     Centers;
       ``(3) the term `Association' means the association 
     established under section 21(a)(3)(A);
       ``(4) the term `eligible applicant' means--
       ``(A) a small business development center that is 
     accredited under section 21(k);
       ``(B) a women's business center;
       ``(C) a Veterans Business Outreach Center that receives 
     funds from the Office of Veterans Business Development; or
       ``(D) an information and assistance center operated by the 
     National Veterans Business Development Corporation under 
     section 33;
       ``(5) the term `enterprise transition and sustainability 
     assistance' means assistance provided by an eligible 
     applicant to a small business concern owned and operated by a 
     Reservist, who has been activated or is likely to be 
     activated in the next 12 months, to develop and implement a 
     business strategy for the period while the owner is on active 
     duty and 6 months after the date of the return of the owner;
       ``(6) the term `Reservists' means any person who is--
       ``(A) a member of a reserve component of the Armed Forces, 
     as defined by section 10101 of title 10, United States Code; 
     and
       ``(B) on active status, as defined by section 101(d)(4) of 
     title 10, United States Code;
       ``(7) the term `small business development center' means a 
     small business development center as described in section 21 
     of the Small Business Act (15 U.S.C. 648);
       ``(8) the term `State' means each of the several States of 
     the United States, the District of Columbia, the Commonwealth 
     of Puerto Rico, the Virgin Islands, American Samoa, and Guam; 
     and
       ``(9) the term `women's business center' means a women's 
     business center described in section 29 of the Small Business 
     Act (15 U.S.C. 656).
       ``(c) Authority.--The Administrator may award grants, in 
     accordance with the regulations developed under subsection 
     (d), to eligible applicants to assist small business concerns 
     owned and operated by Reservists by--
       ``(1) providing management, development, financing, 
     procurement, technical, regulatory, and marketing assistance;
       ``(2) providing access to information and resources, 
     including Federal and State business assistance programs;
       ``(3) distributing contact information provided by the 
     Department of Defense regarding activated Reservists to 
     corresponding State directors;
       ``(4) offering free, one-on-one, in-depth counseling 
     regarding management, development, financing, procurement, 
     regulations, and marketing;
       ``(5) assisting in developing a long-term plan for possible 
     future activation; and
       ``(6) providing enterprise transition and sustainability 
     assistance.
       ``(d) Rulemaking.--
       ``(1) In general.--The Administrator, in consultation with 
     the Association and after notice and an opportunity for 
     comment, shall promulgate regulations to carry out this 
     section.
       ``(2) Deadline.--The Administrator shall promulgate final 
     regulations not later than 180 days of the date of enactment 
     of the Military Reservist and Veteran Small Business 
     Reauthorization Act of 2007.
       ``(3) Contents.--The regulations developed by the 
     Administrator under this subsection shall establish--
       ``(A) procedures for identifying, in consultation with the 
     Secretary of Defense, States that have had a recent 
     activation of Reservists;
       ``(B) priorities for the types of assistance to be provided 
     under the program authorized by this section;
       ``(C) standards relating to educational, technical, and 
     support services to be provided by a grantee;
       ``(D) standards relating to any national service delivery 
     and support function to be provided by a grantee;
       ``(E) standards relating to any work plan that the 
     Administrator may require a grantee to develop; and
       ``(F) standards relating to the educational, technical, and 
     professional competency of any expert or other assistance 
     provider to whom a small business concern may be referred for 
     assistance by a grantee.
       ``(e) Application.--
       ``(1) In general.--Each eligible applicant desiring a grant 
     under this section shall submit an application to the 
     Administrator at such time, in such manner, and accompanied 
     by such information as the Administrator may reasonably 
     require.
       ``(2) Contents.--Each application submitted under paragraph 
     (1) shall describe--
       ``(A) the activities for which the applicant seeks 
     assistance under this section; and
       ``(B) how the applicant plans to allocate funds within its 
     network.
       ``(3) Matching not required.--Subparagraphs (A) and (B) of 
     section 21(a)(4), requiring matching funds, shall not apply 
     to grants awarded under this section.
       ``(f) Award of Grants.--
       ``(1) Deadline.--The Administrator shall award grants not 
     later than 60 days after the promulgation of final rules and 
     regulations under subsection (d).
       ``(2) Amount.--Each eligible applicant awarded a grant 
     under this section shall receive a grant in an amount--
       ``(A) not less than $150,000 per fiscal year; and
       ``(B) not greater than $500,000 per fiscal year.
       ``(g) Report.--
       ``(1) In general.--The Comptroller General of the United 
     States shall--
       ``(A) initiate an evaluation of the program not later than 
     30 months after the disbursement of the first grant under 
     this section; and
       ``(B) submit a report not later than 6 months after the 
     initiation of the evaluation under paragraph (1) to--
       ``(i) the Administrator;
       ``(ii) the Committee on Small Business and Entrepreneurship 
     of the Senate; and
       ``(iii) the Committee on Small Business of the House of 
     Representatives.
       ``(2) Contents.--The report under paragraph (1) shall--
       ``(A) address the results of the evaluation conducted under 
     paragraph (1); and
       ``(B) recommend changes to law, if any, that it believes 
     would be necessary or advisable to achieve the goals of this 
     section.
       ``(h) Authorization of Appropriations.--
       ``(1) In general.--There are authorized to be appropriated 
     to carry out this section--
       ``(A) $5,000,000 for the first fiscal year beginning after 
     the date of enactment of the Military Reservist and Veteran 
     Small Business Reauthorization Act of 2007; and
       ``(B) $5,000,000 for each of the 3 fiscal years following 
     the fiscal year described in subparagraph (A).
       ``(2) Limitation on use of other funds.--The Administrator 
     may carry out the program authorized by this section only 
     with amounts appropriated in advance specifically to carry 
     out this section.''.

                 TITLE III--VETERAN ENTREPRENEUR LOANS

     SEC. 301. AUTHORIZATION.

       The first sentence of section 7(a) of the Small Business 
     Act (15 U.S.C. 636) is amended by inserting ``new veteran 
     entrepreneurs under paragraph (32) and'' and after ``loans to 
     any qualified small business concern, including''.

[[Page S4053]]

     SEC. 302. SPECIFICATIONS.

       Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) 
     is amended by adding after paragraph (31) the following:
       ``(32) Veteran entrepreneur loans.--Each loan to a new 
     veteran entrepreneur under this subsection shall--
       ``(A) be made directly to the new veteran entrepreneur;
       ``(B) not exceed $100,000; and
       ``(C) be made at the same interest rate as loans made under 
     the second proviso of the unnumbered paragraph of subsection 
     (b).''.

     SEC. 303. DEFINITIONS.

       Section 3(q) of the Small Business Act (15 U.S.C. 632(q)) 
     is amended by adding after paragraph (4) the following:
       ``(5) New veteran entrepreneur.--The term `new veteran 
     entrepreneur' means a person who--
       ``(A) is a veteran;
       ``(B) is establishing a new small business concern or 
     established a new small business concern during the 6-month 
     period ending on the date of the request for a loan; and
       ``(C) does not own or control any other business.''.

                       TITLE IV--OTHER PROVISIONS

     SEC. 401. INCREASED FUNDING FOR THE OFFICE OF VETERANS 
                   BUSINESS DEVELOPMENT.

       There are authorized to be appropriated to the Office of 
     Veterans Business Development of the Administration, to 
     remain available until expended--
       (1) $2,100,000 for fiscal year 2008;
       (2) $2,300,000 for fiscal year 2009; and
       (3) $2,500,000 for fiscal year 2010.

     SEC. 402. PERMANENT EXTENSION OF SBA ADVISORY COMMITTEE ON 
                   VETERANS BUSINESS AFFAIRS.

       (a) Assumption of Duties.--Section 33 of the Small Business 
     Act (15 U.S.C. 657c) is amended--
       (1) by striking subsection (h); and
       (2) by redesignating subsections (i) through (k) as 
     subsections (h) through (j), respectively.
       (b) Permanent Extension of Authority.--Section 203 of the 
     Veterans Entrepreneurship and Small Business Development Act 
     of 1999 (15 U.S.C. 657b note) is amended by striking 
     subsection (h).

     SEC. 403. RESERVISTS STUDY.

       Not later than 180 days after the date of enactment of this 
     Act, 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 
     whether there has been a reduction in the hiring of 
     Reservists by business concerns because of--
       (1) any increase in the use of Reservists after September 
     11, 2001; or
       (2) any change in any policy of the Department of Defense 
     relating to Reservists after September 11, 2001.

     SEC. 404. SERVICE-DISABLED VETERANS.

       Not later than 180 days after the date of enactment of this 
     Act, 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 
     describing--
       (1) the types of assistance needed by service-disabled 
     veterans who wish to become entrepreneurs; and
       (2) any resources that would assist such service-disabled 
     veterans.
                                 ______