[Congressional Record (Bound Edition), Volume 156 (2010), Part 9]
[Senate]
[Pages 12839-12841]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 4455. Mr. JOHANNS (for himself, Mr. Barrasso, Mr. Risch, Mr. 
Inhofe, Mr. Ensign, and Mr. Thune) submitted an amendment intended to 
be proposed to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus 
(for himself, Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to 
create the Small Business Lending Fund Program to direct the Secretary 
of the Treasury to make capital investments in eligible institutions in 
order to increase the availability of credit for small businesses, to 
amend the Internal Revenue Code of 1986 to provide tax incentives for 
small business job creation, and for other purposes; which was ordered 
to lie on the table; as follows:

       At the end of subtitle A of title II, add the following:

                        PART V--OTHER PROVISIONS

     SEC. 2051. REPEAL OF EXPANSION OF INFORMATION REPORTING 
                   REQUIREMENTS.

       Section 9006 of the Patient Protection and Affordable Care 
     Act, and the amendments made thereby, are hereby repealed; 
     and the Internal Revenue Code of 1986 shall be applied as if 
     such section, and amendments, had never been enacted.
                                 ______
                                 
  SA 4456. Mr. DeMINT (for himself and Mr. Vitter) submitted an 
amendment intended to be proposed by him to the bill H.R. 5297, to 
create the Small Business Lending Fund Program to direct the Secretary 
of the Treasury to make capital investments in eligible institutions in 
order to increase the availability of credit for small businesses, to 
amend the Internal Revenue Code of 1986 to provide tax incentives for 
small business job creation, and for other purposes; which was ordered 
to lie on the table; as follows:

       At the appropriate place, insert the following:
       Sec. __.  None of the funds made available in this Act to 
     the Department of Justice may be used to participate in any 
     lawsuit that seeks to invalidate those provisions of the 
     Arizona Revised Statutes amended by Arizona Senate Bill 1070, 
     49th Leg., 2nd Reg. Sess., Ch. 113 (Az. 6 2010) (as amended 
     by Arizona House Bill 2162, 49th 7 Leg., 2nd Reg. Sess., Ch. 
     211 (Az. 2010)).
                                 ______
                                 
  SA 4457. Mr. FEINGOLD submitted an amendment intended to be proposed 
to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, 
Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small 
Business Lending Fund Program to direct the Secretary of the Treasury 
to make capital investments in eligible institutions in order to 
increase the availability of credit for small businesses, to amend the 
Internal Revenue Code of 1986 to provide tax incentives for small 
business job creation, and for other purposes; which was ordered to lie 
on the table; as follows:

       On page 41, between lines 3 and 4, insert the following:

     SEC. 1137. COORDINATION WITH DEPARTMENT OF AGRICULTURE.

       Section 7 of the Small Business Act (15 U.S.C. 636) is 
     amended by adding at the end the following:
       ``(o) Coordination With Department of Agriculture.--
       ``(1) In general.--In coordination with the Administrator 
     of the Farm Service Agency, the Under Secretary for Rural 
     Development, and the head of any other appropriate Federal 
     agency, the Administrator shall conduct outreach and provide 
     technical assistance to farmers and other rural businesses 
     with regard to programs of the Administration for which the 
     farmers and rural businesses may be eligible.
       ``(2) Agreement.--The coordination under this subsection 
     shall include evaluating whether the Administrator should 
     enter an agreement under which--
       ``(A) offices of the Department of Agriculture may assist 
     in completing and accept applications for programs of the 
     Administration; or
       ``(B) employees of the Administration periodically have 
     office hours at offices of the Department of Agriculture.''.
                                 ______
                                 
  SA 4458. Mr. ENSIGN submitted an amendment intended to be proposed by 
him to the bill H.R. 5297, to create the Small Business Lending Fund 
Program to direct the Secretary of the Treasury to make capital 
investments in eligible institutions in order to increase the 
availability of credit for small businesses, to amend the Internal 
Revenue Code of 1986 to provide tax incentives for small business job 
creation, and for other purposes; which was ordered to lie on the 
table; as follows:

       After section 2042, insert the following:

       PART V--PROVIDING PERMANENT STATE AND LOCAL TAX DEDUCTIONS

     SEC. 2051. STATE AND LOCAL TAX DEDUCTIONS.

       (a) In General.--Section 164(b)(5) of the Internal Revenue 
     Code of 1986 is amended by striking subparagraph (I).
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     2009.
       (c) Offset.--Notwithstanding section 5 of the American 
     Recovery and Reinvestment Act of 2009 (Pub. Law 111-5), from 
     the amounts appropriated or made available and remaining 
     unobligated under such Act, the Director of the Office of 
     Management and Budget shall transfer from time to time to the 
     general fund of the Treasury an amount equal to the sum of 
     the amount of any net reduction in revenues resulting from 
     the application of subsection (a).
       
                                 ______
                                 
  SA 4459. Mr. BENNET submitted an amendment intended to be proposed to 
amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, 
Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small 
Business Lending Fund Program to direct the Secretary of the Treasury 
to make capital investments in eligible institutions in order to 
increase the availability of credit for small businesses, to amend the 
Internal Revenue Code of 1986 to provide tax incentives for small 
business job creation, and for other purposes; which was ordered to lie 
on the table; as follows:

       On page 7, strike lines 15 through 18 and insert the 
     following:
       (4) in clause (iv)--
       (A) by striking ``$4,000,000'' and inserting 
     ``$5,500,000''; and
       (B) by striking ``and'' at the end;
       (5) in clause (v)--
       (A) by striking ``$4,000,000'' and inserting 
     ``$5,500,000''; and
       (B) by striking the period at the end and inserting ``; 
     and''; and
       (6) by adding at the end the following:
       ``(vi) during the 2-year period beginning on the date of 
     enactment of the Small Business Jobs Act of 2010, $10,000,000 
     for each project for a small business concern that 
     constitutes a major source of employment, as determined by 
     the Administrator.''.

[[Page 12840]]


                                 ______
                                 
  SA 4460. Mr. BENNET submitted an amendment intended to be proposed to 
amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, 
Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small 
Business Lending Fund Program to direct the Secretary of the Treasury 
to make capital investments in eligible institutions in order to 
increase the availability of credit for small businesses, to amend the 
Internal Revenue Code of 1986 to provide tax incentives for small 
business job creation, and for other purposes; which was ordered to lie 
on the table; as follows:

       On page 113, between lines 17 and 18, insert the following:

     SEC. 1348. SMALL BUSINESS CLEARINGHOUSE.

       Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) 
     is amended by adding after paragraph (35), as added by 
     section 1206 of this Act, the following:
       ``(36) Small business clearinghouse.--
       ``(A) Submission to administration.--
       ``(i) In general.--The Administrator shall establish a 
     process under which a lender participating in a program under 
     this subsection that denies an application by small business 
     concern for a loan guaranteed under this subsection may 
     submit the application to the Administrator for the purpose 
     of making the application available to other lenders under 
     this paragraph.
       ``(ii) Information.--With the approval of the applicant, a 
     lender shall include with an application submitted to the 
     Administrator under clause (i) any information in the 
     possession of the lender relating to the creditworthiness and 
     repayment ability of the applicant.
       ``(iii) Determination.--The Administrator shall determine 
     whether an application submitted under clause (i) meets the 
     eligibility and credit standards that a lender would be 
     required to apply to approve a loan under this subsection.
       ``(B) Participation of lenders.--
       ``(i) In general.--The Administrator shall establish a 
     process under which the Administrator makes available to 
     lenders each loan application submitted and determined to 
     meet basic eligibility and credit standards under 
     subparagraph (A) for the purpose of the lenders originating, 
     underwriting, closing, and servicing the loan for which the 
     applicant applied.
       ``(ii) Eligibility.--A lender shall be eligible to receive 
     a loan application described in clause (i) if the lender 
     participates in the programs established under this 
     subsection.
       ``(iii) Local lenders.--The Administrator shall initially 
     make available a loan application described in clause (i) to 
     lenders participating in a program under this subsection with 
     an office located within approximately 100 miles of the 
     principal office of the loan applicant.
       ``(iv) Preferred or certified lenders.--If, as of 10 
     business days after the date the Administrator makes a loan 
     application available under clause (iii), no lender described 
     in clause (iii) has agreed to originate, underwrite, close, 
     and service the loan, the Administrator shall make available 
     the loan application to lenders participating in the 
     Preferred Lenders Program under paragraph (2)(C)(ii) and 
     lenders participating in the Certified Lenders Program under 
     paragraph (19).
       ``(C) Referral fee.--A lender that agrees to originate, 
     underwrite, close, and service a loan under subparagraph (B) 
     shall pay a nominal referral fee, in an amount established by 
     the Administrator, to the lender that submitted the 
     application for the loan under subparagraph (A).''.
                                 ______
                                 
  SA 4461. Mr. HATCH submitted an amendment intended to be proposed to 
amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, 
Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small 
Business Lending Fund Program to direct the Secretary of the Treasury 
to make capital investments in eligible institutions in order to 
increase the availability of credit for small businesses, to amend the 
Internal Revenue Code of 1986 to provide tax incentives for small 
business job creation, and for other purposes; which was ordered to lie 
on the table; as follows:

       At the end of subtitle A of title II, insert the following:

                        PART V--OTHER PROVISIONS

     SEC. ____. RESEARCH CREDIT.

       (a) In General.--Subparagraph (B) of section 41(h)(1) of 
     the Internal Revenue Code of 1986 is amended by striking 
     ``December 31, 2009'' and inserting ``December 31, 2010''.
       (b) Conforming Amendment.--Subparagraph (D) of section 
     45C(b)(1) of such Code is amended by striking ``December 31, 
     2009'' and inserting ``December 31, 2010''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to amounts paid or incurred after December 31, 
     2009.
                                 ______
                                 
  SA 4462. Mr. CARDIN submitted an amendment intended to be proposed to 
amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, 
Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small 
Business Lending Fund Program to direct the Secretary of the Treasury 
to make capital investments in eligible institutions in order to 
increase the availability of credit for small businesses, to amend the 
Internal Revenue Code of 1986 to provide tax incentives for small 
business job creation, and for other purposes; which was ordered to lie 
on the table; as follows:

       On page 200, between lines 2 and 3, insert the following:

     SEC. 3114. PILOT PROGRAM FOR DIRECT LOANS TO SMALL BUSINESS 
                   CONCERNS.

       (a) Definitions.--In this section--
       (1) the terms ``Administration'' and ``Administrator'' mean 
     the Small Business Administration and the Administrator 
     thereof, respectively;
       (2) the term ``eligible small business concern'' means a 
     small business concern with fewer than 25 employees;
       (3) the term ``pilot program'' means the pilot program 
     established under subsection (b)(1);
       (4) the term ``region of the Administration'' means the 
     geographic area served by a regional office of the 
     Administration established under section 4(a) of the Small 
     Business Act (15 U.S.C. 633(a)); and
       (5) the term ``small business concern'' has the meaning 
     given that term under section 3 of the Small Business Act (15 
     U.S.C. 632).
       (b) Loan Program Established.--
       (1) In general.--The Administrator and the Secretary shall 
     jointly establish a pilot program under which the 
     Administrator and the Secretary, acting through the regional 
     offices of the Administration, may make loans to eligible 
     small business concerns.
       (2) Locations for pilot program.--The Administrator and the 
     Secretary--
       (A) shall jointly select 6 States in which to make loans 
     under the pilot program; and
       (B) may not select more than 1 State in any region of the 
     Administration under subparagraph (A).
       (3) Start of pilot program.--The Administrator and the 
     Secretary shall begin making loans under the pilot program 
     not later than January 1, 2011.
       (c) Terms and Conditions.--
       (1) In general.--Except as provided in paragraph (2), a 
     loan under the pilot program shall have the same terms and 
     conditions as, and may be used for any purpose authorized 
     for, a guaranteed by the Administrator under section 7(a) of 
     the Small Business Act (15 U.S.C. 636(a)), as amended by this 
     Act.
       (2) Maximum amount.--A loan under the pilot program may be 
     in an amount not more than $1,000,000.
       (d) Funding.--From the Fund, $500,000,000 shall be 
     available to the Administrator and the Secretary, without 
     further appropriation or fiscal year limitation, to carry out 
     the pilot program.
       (e) Termination.--The Administrator and the Secretary may 
     not make a loan under the pilot program after December 31, 
     2013.
                                 ______
                                 
  SA 4463. Mr. HARKIN submitted an amendment intended to be proposed to 
amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, 
Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small 
Business Lending Fund Program to direct the Secretary of the Treasury 
to make capital investments in eligible institutions in order to 
increase the availability of credit for small businesses, to amend the 
Internal Revenue Code of 1986 to provide tax incentives for small 
business job creation, and for other purposes; which was ordered to lie 
on the table; as follows:

       At the end of subtitle A of title II, insert the following:

                        PART V--OTHER PROVISIONS

     SEC. ____. SPECIAL RULE FOR PRIVATE ACTIVITY BOND PRIVATE USE 
                   TESTS WITH RESPECT TO THE PURCHASE OF WATER 
                   OUTPUT.

       (a) In General.--A qualified water output agreement shall 
     be disregarded in determining whether the private business 
     tests under section 141(b) of the Internal Revenue Code of 
     1986 are met with respect to an issue of bonds.
       (b) Qualified Water Output Agreement.--For purposes of this 
     section, the term ``qualified water output agreement'' means, 
     with respect to any issue of bonds, any agreement with a 
     qualified entity for the purchase of water from a facility 
     which is financed by such issue if it is reasonably expected 
     on the date of issuance that not less than 10 percent of the 
     water will be sold by such qualified entity to individuals 
     not involved in a trade or business or to political 
     subdivisions or their utilities.
       (c) Qualified Entity.--For purposes of this section, the 
     term ``qualified entity'' means any rural water association--
       (1) no part of the net earning of which inures to the 
     benefit of any private shareholder or individual, and

[[Page 12841]]

       (2) which is described in section 501(c)(12) of the 
     Internal Revenue Code of 1986 and exempt from tax under 
     section 501(a) of such Code.
                                 ______
                                 
  SA 4464. Mr. DeMINT (for himself and Mr. Vitter) submitted an 
amendment intended to be proposed by him to the bill H.R. 5297, to 
create the Small Business Lending Fund Program to direct the Secretary 
of the Treasury to make capital investments in eligible institutions in 
order to increase the availability of credit for small businesses, to 
amend the Internal Revenue Code of 1986 to provide tax incentives for 
small business job creation, and for other purposes; which was ordered 
to lie on the table; as follows:

       At the appropriate place, insert the following:
       Sec. __.  No funds made available in any provision of law 
     may be used to participate in any lawsuit that seeks to 
     invalidate those provisions of the Arizona Revised Statutes 
     amended by Arizona Senate Bill 1070, 49th Leg., 2nd Reg. 
     Sess., Ch. 113 (Az. 6 2010) (as amended by Arizona House Bill 
     2162, 49th 7 Leg., 2nd Reg. Sess., Ch. 211 (Az. 2010)).

                          ____________________