[Congressional Record Volume 156, Number 77 (Thursday, May 20, 2010)]
[Senate]
[Pages S4087-S4090]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Ms. LANDRIEU (for herself and Ms. Snowe):
  S. 3394. A bill to establish the veterans' business center program, 
to improve the programs for veterans of the Small Business 
Administration, and for other purposes; to the Committee on Small 
Business and Entrepreneurship.
  Ms. LANDRIEU. Mr. President, as Chair of the Committee on Small 
Business and Entrepreneurship, I am pleased to introduce the 
Strengthening Entrepreneurship for America's Veterans Act of 2010. This 
vital and timely legislation builds upon the Small Business 
Administration's, SBA, existing counseling programs that successfully 
assist hundreds of thousands of veterans, service-disabled veterans and 
reservists annually, creating thousands of jobs. By strengthening and 
improving these programs, the SBA will be able to reach even more 
veterans, helping them to achieve their dream of starting or growing 
their own small businesses.
  According to the Department of Veteran Affairs, there are currently 
more than 23.8 million veterans in the United States. Since 2001 alone, 
more than 2 million of these servicemembers have been deployed in 
support of Operation Enduring Freedom and Operation Iraqi Freedom. This 
means that every day, hundreds of new veterans are returning home from 
service in Iraq and Afghanistan. Seeking to move on with their lives 
after long deployments, many veterans become entrepreneurs to support 
both themselves and their families.
  However, in the face of historically high unemployment and tight 
credit, starting a business has never been more difficult. During the 
111th Congress, the Committee has heard from many small business owners 
throughout the country. They have told me that the programs and 
services currently offered by SBA provide access to important resources 
that enable them to start, grow and expand their businesses. But in the 
face of the worst economic recession since the Great Depression, demand 
for these services is at an all time high. For these reasons, it is 
critical that we do more to help our entrepreneurs and small 
businesses, especially the hundreds of veterans returning home each day 
who are significantly more likely to struggle to find work.
  That is why today I am introducing the Strengthening Entrepreneurship 
for America's Veterans Act of 2010. Since the passage of legislation 
establishing the Office of Veterans Business Development, OVBD, in 
1999, the SBA has operated a network of centers and programs that 
provide technical assistance and support to veterans interested in 
starting or growing their own small businesses. This legislation will 
further enhance and improve these existing programs by providing more 
increased access to business counseling and technical assistance 
through a new network of Veterans Business Centers, modeled after the 
successful Small Business Development Centers, SBDC, and Women's 
Business Centers, WBC, programs. The Veterans Business Center Program 
will not only provide services to returning veterans and service-
disabled veterans, but also to the families, spouses and surviving 
spouses of these heroic men and women.
  In closing, I would like to thank Senator Snowe for her continued 
leadership on small business issues and especially for her 
cosponsorship of this important legislation. Senator Snowe has been a 
tireless advocate for the many veterans and reservists in her home 
state of Maine and I am pleased to have her support on this 
legislation.
  I would also note that many of the provisions in this bill were 
included in S. 1229, the Entrepreneurial Development Act of 2009, which 
I introduced earlier this Congress with Senator Snowe's support. S. 
1229 passed out of Committee with unanimous and bipartisan support in 
June of 2009. However, given the importance of this legislation to our 
more than 23 million veterans, I have decided to reintroduce these 
provisions as a standalone bill. I look forward to working with my 
colleagues in the Senate to bring this legislation to the President's 
desk in the coming months.
  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. 3394

       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

[[Page S4088]]

     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

[[Page S4089]]

     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 veteran's 
     business center program.

[[Page S4090]]

     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).

  Ms. SNOWE. Mr. President, I rise today, along with Senator Mary 
Landrieu, Chair of the Senate Committee on Small Business and 
Entrepreneurship, to introduce the Strengthening Entrepreneurship for 
America's Veterans Act. This critical legislation, which is a slightly 
modified version of language we included in S. 1229, the 
Entrepreneurial Development Act of 2009, will establish a nationwide 
Veterans' Business Center program, housed at the Small Business 
Administration, or SBA, to tailor counseling and outreach programs for 
aspiring veteran entrepreneurs. This program will build on the 
extraordinary work of the SBA's Office of Veterans Business 
Development, headed by Bill Elmore, which currently oversees eight such 
centers and last year counseled or trained over 120,000 veterans.
  According to the Department of Veteran Affairs, almost 2 million 
brave American men and women have deployed to Afghanistan and Iraq 
since the beginning of combat operations in September 2001, nearly 1.2 
million of whom are now veterans. Regrettably, the unemployment rate 
among these veterans stands at 13.1 percent over three percentage 
points higher than the national average. It is critical that when our 
Nation's service-members return from duty, they receive the assistance 
they deserve to seamlessly assimilate back to civilian life.
  Many of these veterans are aspiring entrepreneurs seeking to open 
their own business and live the American dream. To assist them in their 
efforts, our legislation establishes a Veterans' Business Center 
program to create a nationwide network of entrepreneurial assistance 
centers for veterans and reservists, along with their spouses and 
surviving spouses. Each center would receive an annual grant between 
$150,000 and $200,000 for a 5-year period, followed by the opportunity 
for additional 5-year renewal periods. These centers would provide 
specific education, training, advice, and counseling tailored to 
eligible individuals regarding financing planning and access to 
capital; management and business operations; marketing and advertising; 
procurement and contracting opportunities; and other general small 
business opportunities for reservists and their spouses.
  Furthermore, each district office under the auspices of the SBA would 
be required to designate one employee to serve as a ``veterans business 
ownership representative'' responsible for increasing coordination 
between that region's Veterans' Business Center and SBA district 
office, to leverage resources and perform outreach to a greater number 
of veterans.
  Additionally, our legislation will ensure proper oversight of the 
recently formed Interagency Task Force on Veterans Small Business 
Development by requiring the SBA to issue biennial reports to Congress 
regarding the establishment and progress of this body. This task force 
was included in the Military Reservist and Veteran Small Business 
Reauthorization and Opportunity Act which Senator John Kerry and I 
fought for last Congress and which was signed into law by former 
President George W. Bush on February 14, 2008. After more than 2 years 
of delay, the task force was finally established by Executive Order on 
April 26 of this year.
  The purpose of the task force is to coordinate the efforts of Federal 
agencies necessary to increase capital and business development 
opportunities for, and increase the award of Federal contracting 
opportunities to, small businesses owned and controlled by veterans. 
Given that we are fast approaching the ninth anniversary of the 
commencement of Operation Enduring Freedom, this type of coordinated 
and targeted effort by our Federal government is long overdue.
  Finally, our bill includes several additional reporting requirements 
to ensure that the Veterans' Business Center program is being 
administered effectively and providing truly unique and proper 
resources, counseling, assistance, and training to veterans. Because 
credit to small businesses remains stifled, one of these reports will 
explore the sources of credit utilized by veteran-owned small 
businesses, obstacles faced by veterans trying to access credit, and 
the extent to which deployment and other military responsibilities 
affect the credit history of veterans and reservists. This crucial 
report will provide a detailed picture of the access to credit 
landscape confronting veteran entrepreneurs, and will afford us an 
opportunity to make necessary policy changes that alleviate any 
challenges they face.
  As our service-members and reservists answer our Nation's call to 
duty, we must similarly fulfill our obligations to help protect their 
livelihood back home. That is why I am pleased to be introducing this 
critical legislation today with Chair Landrieu, and I pledge to push 
for its passage before the end of this Congress.
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