[Congressional Record (Bound Edition), Volume 158 (2012), Part 8]
[Senate]
[Pages 11161-11182]
[From the U.S. Government Publishing Office, www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 2508. Mr. CORNYN submitted an amendment intended to be proposed by 
him to the bill S. 2237, to provide a temporary income tax credit for 
increased payroll and extend bonus depreciation for an additional year, 
and for other purposes; which was ordered to lie on the table; as 
follows:

       At the end, add the following:

     SEC. __. POINT OF ORDER ON LEGISLATION THAT RAISES INCOME TAX 
                   RATES ON SMALL BUSINESSES.

       (a) Point of Order.--
       (1) In general.--In the Senate, it shall not be in order to 
     consider any bill, joint resolution, amendment, motion, or 
     conference report that includes any provision which increases 
     Federal income tax rates.
       (2) Definition.--In this section, the term ``Federal income 
     tax rates'' means any rate of tax under--
       (A) subsection (a), (b), (c), (d), or (e) of section 1 of 
     the Internal Revenue Code of 1986,
       (B) section 11(b) of such Code, or
       (C) section 55(b) of such Code.
       (b) Supermajority Waiver and Appeals.--
       (1) Waiver.--This section may be waived or suspended in the 
     Senate only by an affirmative vote of three-fifths of the 
     Members, dully chosen and sworn.
       (2) Appeals.--An affirmative vote of three-fifths of the 
     Members of the Senate, duly chosen and sworn, shall be 
     required to sustain an appeal of the ruling of the Chair on a 
     point of order raised under this section.
                                 ______
                                 
  SA 2509. Mr. HATCH (for himself, Mr. Brown of Massachusetts, Mr. 
Toomey, Mr. Risch, Mr. Portman, Mr. Roberts, Mr. Isakson, Mr. Johanns, 
Mr. Coats, Mr. Kirk, Ms. Collins, Mrs. Hutchinson, Mr. Kyl, Mr. 
Barrasso, Mr. McCain, Mr. Coburn, Mr. Burr, Ms. Ayotte, Mr. Rubio, Mr. 
Lugar, Mr. Crapo, Mr. Cornyn, Mr. Inhofe, Mr. Alexander, Mr. Heller, 
Mr. Boozman, Mr. Graham, Mr. Hoeven, Mr. Thune, and Mr. Wicker) 
submitted an amendment intended to be proposed by him to the bill S. 
2237, to provide a temporary income tax credit for increased payroll 
and extend bonus depreciation for an additional year, and for other 
purposes; which was ordered to lie on the table; as follows:

       Strike all after the first word and insert the following:

     1. REPEAL OF MEDICAL DEVICE EXCISE TAX.

       (a) In General.--Chapter 32 of the Internal Revenue Code of 
     1986 is amended by striking subchapter E.
       (b) Conforming Amendments.--
       (1) Subsection (a) of section 4221 of such Code is amended 
     by striking the last sentence.
       (2) Paragraph (2) of section 6416(b) of such Code is 
     amended by striking the last sentence.
       (c) Clerical Amendment.--The table of subchapters for 
     chapter 32 of such Code is amended by striking the item 
     relating to subchapter E.
                                 ______
                                 
  SA 2510. Mr. HATCH (for himself, Mr. Johanns, Mr. Risch, Mr. Portman, 
Mr. Roberts, Mr. Isakson, Mr. Coats, Mr. Kirk, Ms. Collins, Mrs. 
Hutchison, Mr. Kyl, Mr. Barrasso, Mr. McCain, Mr. Coburn, Mr. Burr, Mr. 
Cochran, Mr. Rubio, Mr. Crapo, Mr. Cornyn, Mr. Inhofe, Mr. Alexander, 
Mr. Heller, Mr. Boozman, Mr. Graham, Mr. Hoeven, Mr. Thune, and Mr. 
Wicker) submitted an amendment intended to be proposed by him to the 
bill S. 2237, to provide a temporary income tax credit for increased 
payroll and extend bonus depreciation for an additional year, and for 
other purposes; which was ordered to lie on the table; as follows:

       Strike all after the first word and insert the following:

     1. REPEAL OF TAX ON INDIVIDUALS WHO FAIL TO MAINTAIN MINIMUM 
                   ESSENTIAL COVERAGE.

       Section 5000A of the Internal Revenue Code of 1986 is 
     amended by adding at the end the following new subsection:
       ``(h) Termination.--This section shall not apply with 
     respect to any month beginning after the date of the 
     enactment of this subsection.''.
                                 ______
                                 
  SA 2511. Mr. BARRASSO submitted an amendment intended to be proposed 
by him to the bill S. 2237, to provide a temporary income tax credit 
for increased payroll and extend bonus depreciation for an additional 
year, and for other purposes; which was ordered to lie on the table; as 
follows:

       At the end, add the following:

               TITLE II--GRAZING IMPROVEMENT ACT OF 2012

     SEC. 201. SHORT TITLE.

       This title may be cited as the ``Grazing Improvement Act of 
     2012''.

     SEC. 202. TERMS OF GRAZING PERMITS AND LEASES.

       Section 402 of the Federal Land Policy and Management Act 
     of 1976 (43 U.S.C. 1752) is amended--
       (1) by striking ``ten years'' each place it appears and 
     inserting ``20 years''; and
       (2) in subsection (b)--
       (A) by striking ``or'' at the end of each of paragraphs (1) 
     and (2);
       (B) in paragraph (3), by striking the period at the end and 
     inserting ``; or''; and
       (C) by adding at the end the following:
       ``(4) the initial environmental analysis under National 
     Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.) 
     regarding a grazing allotment, permit, or lease has not been 
     completed.''.

     SEC. 203. RENEWAL, TRANSFER, AND REISSUANCE OF GRAZING 
                   PERMITS AND LEASES.

       Title IV of the Federal Land Policy and Management Act of 
     1976 (43 U.S.C. 1751 et seq.) is amended by adding at the end 
     the following:

     ``SEC. 405. RENEWAL, TRANSFER, AND REISSUANCE OF GRAZING 
                   PERMITS AND LEASES.

       ``(a) Definitions.--In this section:
       ``(1) Current grazing management.--The term `current 
     grazing management' means grazing in accordance with the 
     terms and conditions of an existing permit or lease and 
     includes any modifications that are consistent with an 
     applicable Department of Interior resource management plan or 
     Department of Agriculture land use plan.
       ``(2) Secretary concerned.--The term `Secretary concerned' 
     means--
       ``(A) the Secretary of Agriculture, with respect to 
     National Forest System land; and
       ``(B) the Secretary of the Interior, with respect to land 
     under the jurisdiction of the Department of the Interior.

[[Page 11162]]

       ``(b) Renewal, Transfer, Reissuance, and Pending 
     Processing.--A grazing permit or lease issued by the 
     Secretary of the Interior, or a grazing permit issued by the 
     Secretary of Agriculture regarding National Forest System 
     land, that expires, is transferred, or is waived shall be 
     renewed or reissued under, as appropriate--
       ``(1) section 402;
       ``(2) section 19 of the Act of April 24, 1950 (commonly 
     known as the `Granger-Thye Act'; 16 U.S.C. 580l);
       ``(3) title III of the Bankhead-Jones Farm Tenant Act (7 
     U.S.C. 1010 et seq.); or
       ``(4) section 510 the California Desert Protection Act of 
     1994 (16 U.S.C. 410aaa-50).
       ``(c) Terms; Conditions.--The terms and conditions (except 
     the termination date) contained in an expired, transferred, 
     or waived permit or lease described in subsection (b) shall 
     continue in effect under a renewed or reissued permit or 
     lease until the date on which the Secretary concerned 
     completes the processing of the renewed or reissued permit or 
     lease that is the subject of the expired, transferred, or 
     waived permit or lease, in compliance with each applicable 
     law.
       ``(d) Cancellation; Suspension; Modification.--
     Notwithstanding subsection (c), a permit or lease described 
     in subsection (b) may be cancelled, suspended, or modified in 
     accordance with applicable law.
       ``(e) Renewal Transfer Reissuance After Processing.--When 
     the Secretary concerned has completed the processing of the 
     renewed or reissued permit or lease that is the subject of 
     the expired, transferred, or waived permit or lease, the 
     Secretary concerned may renew or reissue the permit or lease 
     for a term of 20 years after completion of processing.
       ``(f) Compliance With National Environmental Policy Act of 
     1969.--The renewal, reissuance, or transfer of a grazing 
     permit or lease by the Secretary concerned may, at their sole 
     discretion, be categorically excluded from the requirement to 
     prepare an environmental assessment or an environmental 
     impact statement if--
       ``(1) the decision to renew, reissue, or transfer continues 
     the current grazing management of the allotment;
       ``(2) monitoring of the allotment has indicated that the 
     current grazing management has met, or has satisfactorily 
     progressed towards meeting, objectives contained in the land 
     use and resource management plan of the allotment, as 
     determined by the Secretary concerned; or
       ``(3) the decision is consistent with the policy of the 
     Department of the Interior or the Department of Agriculture, 
     as appropriate, regarding extraordinary circumstances.
       ``(g) Priority and Timing for Completing Environmental 
     Analyses.--The Secretary concerned, in the sole discretion of 
     the Secretary concerned, shall determine the priority and 
     timing for completing each required environmental analysis 
     regarding any grazing allotment, permit, or lease based on 
     the environmental significance of the allotment, permit, or 
     lease and available funding for that purpose.
       ``(h) NEPA Exemptions.--The National Environmental Policy 
     Act of 1969 (42 U.S.C. 4321 et seq.) shall not apply to the 
     following:
       ``(1) Crossing and trailing authorizations of domestic 
     livestock.
       ``(2) Transfer of grazing preference.''.
                                 ______
                                 
  SA 2512. Mr. BROWN of Ohio submitted an amendment intended to be 
proposed by him to the bill S. 2237, to provide a temporary income tax 
credit for increased payroll and extend bonus depreciation for an 
additional year, and for other purposes; which was ordered to lie on 
the table; as follows:

       At the end, add the following:

     SEC. __. SMALL BUSINESS HUBZONES.

       (a) Definition.--In this section, the term ``covered base 
     closure area'' means a base closure area that, on or before 
     the date of enactment of this Act, was treated as a HUBZone 
     for purposes of the Small Business Act (15 U.S.C. 631 et 
     seq.) pursuant to section 152(a)(2) of the Small Business 
     Reauthorization and Manufacturing Assistance Act of 2004 (15 
     U.S.C. 632 note).
       (b) Treatment as HUBZone.--A covered base closure area 
     shall be treated as a HUBZone for purposes of the Small 
     Business Act (15 U.S.C. 631 et seq.) during the 5-year period 
     beginning on the date of enactment of this Act.
                                 ______
                                 
  SA 2513. Mr. BROWN of Ohio (for himself and Mr. Casey) submitted an 
amendment intended to be proposed by him to the bill S. 2237, to 
provide a temporary income tax credit for increased payroll and extend 
bonus depreciation for an additional year, and for other purposes; 
which was ordered to lie on the table; as follows:

       At the end, add the following:

                   TITLE __--21ST CENTURY INVESTMENT

     SEC. __1. SHORT TITLE.

       This title may be cited as the ``21st Century Investment 
     Act of 2012''.

     SEC. __2. RESEARCH CREDIT MADE PERMANENT.

       (a) In General.--Section 41 of the Internal Revenue Code of 
     1986 is amended by striking subsection (h).
       (b) Conforming Amendment.--Paragraph (1) of section 45C(b) 
     of such Code is amended by striking subparagraph (D).
       (c) Effective Date.--The amendments made by this subsection 
     shall apply to amounts paid or incurred after December 31, 
     2011.

     SEC. __3. INCREASE IN SIMPLIFIED RESEARCH CREDIT.

       (a) In General.--Subparagraph (A) of section 41(c)(5) of 
     the Internal Revenue Code of 1986 is amended by striking ``14 
     percent (12 percent in the case of taxable years ending 
     before January 1, 2009)'' and inserting ``20 percent''.
       (b) Effective Date.--The amendment made by this section 
     shall apply to taxable years beginning after December 31, 
     2011.

     SEC. __4. INCREASE IN RESEARCH CREDIT FOR RESEARCH WITH 
                   UNITED STATES BUSINESSES.

       (a) In General.--Section 41 of the Internal Revenue Code of 
     1986, as amended by section 2 of this Act, is amended by 
     redesignating subsection (h) as subsection (i) and by 
     inserting after subsection (g) the following new subsection:
       ``(h) Special Rule for Research With United States 
     Manufacturing Business.--
       ``(1) In general.--If the taxpayer elects the application 
     of this subsection, subsection (a)(1) shall be applied by 
     substituting `25 percent' for `20 percent' with respect to 
     qualified United States research expenses.
       ``(2) Qualified united states research expenses.--For 
     purposes of this subsection, the term `qualified United 
     States research expenses' means qualified research expenses 
     for qualified research, substantially all of which occurs in 
     the United States.
       ``(3) Separate application of section.--In the case of any 
     election of the application of this subsection, this section 
     shall be applied separately with respect qualified United 
     States research expenses.''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to amounts paid or incurred for taxable years 
     beginning after the date of the enactment of this Act.

     SEC. __5. INCREASE IN DOMESTIC PRODUCTION ACTIVITIES 
                   DEDUCTION FOR MANUFACTURED PROPERTY RESEARCHED 
                   AND DEVELOPED IN UNITED STATES.

       (a) In General.--Subsection (d) of section 199 of the 
     Internal Revenue Code of 1986 is amended by redesignating 
     paragraph (10) as paragraph (11) and by inserting after 
     paragraph (9) the following new paragraph:
       ``(10) Special rule for certain manufacturing.--
       ``(A) In general.--In the case qualified production 
     activities income attributable to the manufacture or 
     production of qualifying production property substantially 
     all of the research and development of which occurred in the 
     United States, subsection (a) shall be applied by 
     substituting `15 percent' for `9 percent'.
       ``(B) Special rule when taxable income used to determine 
     deduction.--In the case of any taxable year for which the 
     taxpayer's qualified production activities income exceeds the 
     taxpayer's taxable income (determined without regard to this 
     section), the amount of taxable income to which the 15 
     percent amount in subparagraph (A) applies under subsection 
     (a)(1) shall be an amount equal to the amount which bears the 
     same ratio to such taxable income (as so determined) as--
       ``(i) the amount of qualified production activities income 
     of the taxpayer for the taxable year which is attributable to 
     the manufacture or production of qualifying production 
     property substantially all of the research and development 
     with respect to which occurred in the United States, bears to
       ``(ii) all qualified production activities income of the 
     taxpayer for the taxable year.
       ``(C) Termination.--This paragraph shall not apply to 
     taxable years beginning after December 31, 2020.''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after the date of the 
     enactment of this Act.
                                 ______
                                 
  SA 2514. Mr. THUNE (for himself, Mr. Roberts, Mr. Blunt, and Mr. Kyl) 
submitted an amendment intended to be proposed by him to the bill S. 
2237, to provide a temporary income tax credit for increased payroll 
and extend bonus depreciation for an additional year, and for other 
purposes; which was ordered to lie on the table; as follows:

       Strike section 2.
                                 ______
                                 
  SA 2515. Mr. BENNET (for himself, Mr. Moran, Mr. Udall of Colorado, 
and Mr. Tester) submitted an amendment intended to be proposed by him 
to the bill S. 2237, to provide a temporary income tax credit for 
increased payroll and extend bonus depreciation for an additional year, 
and for other purposes; which was ordered to lie on the table; as 
follows:

       At the end, add the following:

[[Page 11163]]



     SEC. __. EXTENSION OF CREDITS FOR WIND FACILITIES.

       (a) Production Tax Credit.--Paragraph (1) of section 45(d) 
     of the Internal Revenue Code of 1986 is amended by striking 
     ``January 1, 2013'' and inserting ``January 1, 2015''.
       (b) Investment Tax Credit.--Clause (i) of section 
     48(a)(5)(C) of the Internal Revenue Code of 1986 is amended 
     by striking ``or 2012'' and inserting ``2012, 2013, or 
     2014''.
       (c) Conforming Amendment.--Paragraph (1) of section 1603(e) 
     of division B of the American Recovery and Reinvestment Act 
     of 2009 is amended by striking ``January 1, 2013'' and 
     inserting ``January 1, 2015''.
       (d) Effective Date.--The amendments made by this section 
     shall apply to facilities placed in service after December 
     31, 2012.

     SEC. __. DELAY IN APPLICATION OF WORLDWIDE INTEREST.

       (a) In General.--Paragraphs (5)(D) and (6) of section 
     864(f) of the Internal Revenue Code of 1986 are each amended 
     by striking ``December 31, 2020'' and inserting ``December 
     31, 2022''.
       (b) Effective Date.--The amendments made by this section 
     shall take effect on the date of the enactment of this Act.
                                 ______
                                 
  SA 2516. Mr. FRANKEN (for himself and Mr. Enzi) submitted an 
amendment intended to be proposed by him to the bill S. 2237, to 
provide a temporary income tax credit for increased payroll and extend 
bonus depreciation for an additional year, and for other purposes; 
which was ordered to lie on the table; as follows:

       At the end, add the following:

     SEC. __. EXTENSION OF TIME FOR MAKING S CORPORATION 
                   ELECTIONS.

       (a) In General.--Subsection (b) of section 1362 of the 
     Internal Revenue Code of 1986 is amended to read as follows:
       ``(b) When Made.--
       ``(1) Rules for new corporations.--Except as provided in 
     paragraph (2)--
       ``(A) In general.--An election under subsection (a) may be 
     made by a small business corporation for any taxable year at 
     any time during the period--
       ``(i) beginning on the first day of the taxable year for 
     which made, and
       ``(ii) ending on the due date (with extensions) for filing 
     the return for the taxable year.
       ``(B) Certain elections treated as made for next taxable 
     year.--If--
       ``(i) an election under subsection (a) is made for any 
     taxable year within the period described in subparagraph (A), 
     but
       ``(ii) either--

       ``(I) on 1 or more days in such taxable year and before the 
     day on which the election was made the corporation did not 
     meet the requirements of subsection (b) of section 1361, or
       ``(II) 1 or more of the persons who held stock in the 
     corporation during such taxable year and before the election 
     was made did not consent to the election,

     then such election shall be treated as made for the following 
     taxable year.
       ``(C) Election made after due date treated as made for 
     following taxable year.--If--
       ``(i) a small business corporation makes an election under 
     subsection (a) for any taxable year, and
       ``(ii) such election is made after the due date (with 
     extensions) for filing the return for such year and on or 
     before the due date (with extensions) for filing the return 
     for the following taxable year,

     then such election shall be treated as made for the following 
     taxable year.
       ``(2) Rules for existing c corporations.--In the case of 
     any small business corporation which was a C corporation for 
     the taxable year prior to the taxable year for which the 
     election is made under subsection (a), the rules under this 
     paragraph shall apply in lieu of the rules under paragraph 
     (1):
       ``(A) In general.--An election under subsection (a) may be 
     made by a small business corporation for any taxable year--
       ``(i) at any time during the preceding taxable year, or
       ``(ii) at any time during the taxable year and on or before 
     the 15th day of the 3d month of the taxable year.
       ``(B) Certain elections made during 1st 2\1/2\ months 
     treated as made for next taxable year.--If--
       ``(i) an election under subsection (a) is made for any 
     taxable year during such year and on or before the 15th day 
     of the 3d month of such year, but
       ``(ii) either--

       ``(I) on 1 or more days in such taxable year and before the 
     day on which the election was made the corporation did not 
     meet the requirements of subsection (b) of section 1361, or
       ``(II) 1 or more of the persons who held stock in the 
     corporation during such taxable year and before the election 
     was made did not consent to the election,

     then such election shall be treated as made for the following 
     taxable year.
       ``(C) Election made after 1st 2\1/2\ months treated as made 
     for following taxable year.--If--
       ``(i) a small business corporation makes an election under 
     subsection (a) for any taxable year, and
       ``(ii) such election is made after the 15th day of the 3d 
     month of the taxable year and on or before the 15th day of 
     the 3rd month of the following taxable year,
     then such election shall be treated as made for the following 
     taxable year.
       ``(D) Taxable years of 2\1/2\ months or less.--For purposes 
     of this paragraph, an election for a taxable year made not 
     later than 2 months and 15 days after the first day of the 
     taxable year shall be treated as timely made during such 
     year.
       ``(3) Authority to treat late elections, etc., as timely.--
     If--
       ``(A) an election under subsection (a) is made for any 
     taxable year after the date prescribed by this subsection for 
     making such election for such taxable year or no such 
     election is made for any taxable year, and
       ``(B) the Secretary determines that there was reasonable 
     cause for the failure to timely make such election,

     the Secretary may treat such an election as timely made for 
     such taxable year.
       ``(4) Manner of election.--Elections may be made at any 
     time as provided in this subsection by filing a form 
     prescribed by the Secretary. For purposes of any election 
     described under paragraph (1), the Secretary shall provide 
     that the election may be made on any timely filed small 
     business corporation return for such taxable year, with the 
     consents of all persons who held stock in the corporation 
     during such taxable year included therewith.
       ``(5) Secretarial authority.--The Secretary may prescribe 
     such regulations, rules, or other guidance as may be 
     necessary or appropriate for purposes of applying this 
     subsection.''.
       (b) Revocations.--Paragraph (1) of section 1362(d) of the 
     Internal Revenue Code of 1986 is amended--
       (1) by striking ``subparagraph (D)'' in subparagraph (C) 
     and inserting ``subparagraphs (D) and (E)'', and
       (2) by adding at the end the following new subparagraph:
       ``(E) Authority to treat late revocations as timely.--If--
       ``(i) a revocation under subparagraph (A) is made for any 
     taxable year after the date prescribed by this paragraph for 
     making such revocation for such taxable year or no such 
     revocation is made for any taxable year, and
       ``(ii) the Secretary determines that there was reasonable 
     cause for the failure to timely make such revocation,

     the Secretary may treat such a revocation as timely made for 
     such taxable year.''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to elections for taxable years beginning after 
     the date of the enactment of this Act.
                                 ______
                                 
  SA 2517. Mr. BEGICH submitted an amendment intended to be proposed by 
him to the bill S. 2237, to provide a temporary income tax credit for 
increased payroll and extend bonus depreciation for an additional year, 
and for other purposes; which was ordered to lie on the table; as 
follows:

       At the end, add the following:

     SEC. __. ELECTION FOR SMALL BUSINESSES TO EXPENSE DEPRECIABLE 
                   PROPERTY.

       (a) In General.--Part VI of subchapter B of chapter 1 of 
     the Internal Revenue Code of 1986 is amended by inserting 
     after section 179E the following new section:

     ``SEC. 179F. ELECTION FOR SMALL BUSINESSES TO EXPENSE CERTAIN 
                   DEPRECIABLE PROPERTY.

       ``(a) In General.--An eligible small business may elect to 
     treat the cost of any qualified property as an expense which 
     is not chargeable to a capital account.
       ``(b) Eligible Small Business.--For purposes of this 
     section--
       ``(1) In general.--The term `eligible small business' 
     means, with respect to any taxable year, any trade or 
     business the net profit of which does not exceed $1,000,000.
       ``(2) Net profit.--The term `net profit' means the excess 
     of the aggregate gross receipts over the sum of--
       ``(A) the costs of goods sold which are allocable to such 
     receipts, and
       ``(B) other expenses, losses, or deductions which are 
     properly allocable to such receipts.
       ``(3) Aggregation rules.--All persons treated as a single 
     employer under subsection (a) or (b) of section 52 or 
     subsection (m) or (o) of section 414 shall be treated as a 
     single trade or business for purposes of this subsection.
       ``(c) Election.--An election under this section for any 
     taxable year shall be made on the taxpayer's return of the 
     tax imposed by this chapter for the taxable year. Such 
     election shall be made in such manner as the Secretary may by 
     regulation prescribe.
       ``(d) Definitions and Special Rules.--
       ``(1) Qualified property.--For purposes of this section, 
     the term `qualified property' means any property which is 
     section 179 property as defined in section 179(d)(1), 
     determined--
       ``(A) without regard to any placed in service date under 
     subparagraph (A)(ii) thereof, and
       ``(B) without regard to any taxable year limitation under 
     section 179(f).

[[Page 11164]]

       ``(2) Special rules.--For purposes of this section, rules 
     similar to the rules of paragraphs (3), (4), (5), (9), and 
     (10) of section 179(d) shall apply.''.
       (b) Clerical Amendment.--Part VI of subchapter B of chapter 
     1 of the Internal Revenue Code of 1986 is amended by 
     inserting after the item relating to section 179E the 
     following new item:

``Sec. 179F. Election for small businesses to expense certain 
              depreciable property.''.

       (c) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2012.
                                 ______
                                 
  SA 2518. Mr. THUNE (for himself, Mr. Rubio, Mr. Graham, and Mr. 
Boozman) submitted an amendment intended to be proposed by him to the 
bill S. 2237, to provide a temporary income tax credit for increased 
payroll and extend bonus depreciation for an additional year, and for 
other purposes; which was ordered to lie on the table; as follows:

       At the end, add the following:

                       TITLE __--DEATH TAX REPEAL

     SEC. __1. SHORT TITLE.

       This title may be cited as the ``Death Tax Repeal 
     Permanency Act of 2012''.

     SEC. __2. REPEAL OF ESTATE AND GENERATION-SKIPPING TRANSFER 
                   TAXES.

       (a) Estate Tax Repeal.--Subchapter C of chapter 11 of 
     subtitle B of the Internal Revenue Code of 1986 is amended by 
     adding at the end the following new section:

     ``SEC. 2210. TERMINATION.

       ``(a) In General.--Except as provided in subsection (b), 
     this chapter shall not apply to the estates of decedents 
     dying on or after the date of the enactment of the Death Tax 
     Repeal Permanency Act of 2012.
       ``(b) Certain Distributions From Qualified Domestic 
     Trusts.--In applying section 2056A with respect to the 
     surviving spouse of a decedent dying before the date of the 
     enactment of the Death Tax Repeal Permanency Act of 2012--
       ``(1) section 2056A(b)(1)(A) shall not apply to 
     distributions made after the 10-year period beginning on such 
     date, and
       ``(2) section 2056A(b)(1)(B) shall not apply on or after 
     such date.''.
       (b) Generation-Skipping Transfer Tax Repeal.--Subchapter G 
     of chapter 13 of subtitle B of the Internal Revenue Code of 
     1986 is amended by adding at the end the following new 
     section:

     ``SEC. 2664. TERMINATION.

       ``This chapter shall not apply to generation-skipping 
     transfers on or after the date of the enactment of the Death 
     Tax Repeal Permanency Act of 2012.''.
       (c) Conforming Amendments.--
       (1) The table of sections for subchapter C of chapter 11 of 
     the Internal Revenue Code of 1986 is amended by adding at the 
     end the following new item:

``Sec. 2210. Termination.''.

       (2) The table of sections for subchapter G of chapter 13 of 
     such Code is amended by adding at the end the following new 
     item:

``Sec. 2664. Termination.''.

       (d) Restoration of Pre-EGTRRA Provisions Not Applicable.--
       (1) In general.--Section 301 of the Tax Relief, 
     Unemployment Insurance Reauthorization, and Job Creation Act 
     of 2010 shall not apply to estates of decedents dying, and 
     transfers made, on or after the date of the enactment of this 
     Act.
       (2) Exception for stepped-up basis.--Paragraph (1) shall 
     not apply to the provisions of law amended by subtitle E of 
     title V of the Economic Growth and Tax Relief Reconciliation 
     Act of 2001 (relating to carryover basis at death; other 
     changes taking effect with repeal).
       (e) Sunset Not Applicable.--
       (1) Section 901 of the Economic Growth and Tax Relief 
     Reconciliation Act of 2001 shall not apply to title V of such 
     Act in the case of estates of decedents dying, and transfers 
     made, on or after the date of the enactment of this Act.
       (2) Section 304 of the Tax Relief, Unemployment Insurance 
     Reauthorization, and Job Creation Act of 2010 is hereby 
     repealed.
       (f) Effective Date.--The amendments made by this section 
     shall apply to the estates of decedents dying, and 
     generation-skipping transfers, after the date of the 
     enactment of this Act.

     SEC. __3. MODIFICATIONS OF GIFT TAX.

       (a) Computation of Gift Tax.--Subsection (a) of section 
     2502 of the Internal Revenue Code of 1986 is amended to read 
     as follows:
       ``(a) Computation of Tax.--
       ``(1) In general.--The tax imposed by section 2501 for each 
     calendar year shall be an amount equal to the excess of--
       ``(A) a tentative tax, computed under paragraph (2), on the 
     aggregate sum of the taxable gifts for such calendar year and 
     for each of the preceding calendar periods, over
       ``(B) a tentative tax, computed under paragraph (2), on the 
     aggregate sum of the taxable gifts for each of the preceding 
     calendar periods.
       ``(2) Rate schedule.--


``If the amount with respect to which    The tentative
 the tentative tax to be computed is:.     tax is:
Not over $10,000.......................  18% of such amount.
Over $10,000 but not over $20,000......  $1,800, plus 20% of the excess
                                          over $10,000.
Over $20,000 but not over $40,000......  $3,800, plus 22% of the excess
                                          over $20,000.
Over $40,000 but not over $60,000......  $8,200, plus 24% of the excess
                                          over $40,000.
Over $60,000 but not over $80,000......  $13,000, plus 26% of the excess
                                          over $60,000.
Over $80,000 but not over $100,000.....  $18,200, plus 28% of the excess
                                          over $80,000.
Over $100,000 but not over $150,000....  $23,800, plus 30% of the excess
                                          over $100,000.
Over $150,000 but not over $250,000....  $38,800, plus 32% of the excess
                                          of $150,000.
Over $250,000 but not over $500,000....  $70,800, plus 34% of the excess
                                          over $250,000.
Over $500,000..........................  $155,800, plus 35% of the
                                          excess of $500,000.''.
 

       (b) Treatment of Certain Transfers in Trust.--Section 2511 
     of the Internal Revenue Code of 1986 is amended by adding at 
     the end the following new subsection:
       ``(c) Treatment of Certain Transfers in Trust.--
     Notwithstanding any other provision of this section and 
     except as provided in regulations, a transfer in trust shall 
     be treated as a taxable gift under section 2503, unless the 
     trust is treated as wholly owned by the donor or the donor's 
     spouse under subpart E of part I of subchapter J of chapter 
     1.''.
       (c) Lifetime Gift Exemption.--Paragraph (1) of section 
     2505(a) of the Internal Revenue Code of 1986 is amended to 
     read as follows:
       ``(1) the amount of the tentative tax which would be 
     determined under the rate schedule set forth in section 
     2502(a)(2) if the amount with respect to which such tentative 
     tax is to be computed were $5,000,000, reduced by''.
       (d) Conforming Amendments.--
       (1) Section 2505(a) of the Internal Revenue Code of 1986 is 
     amended by striking the last sentence.
       (2) The heading for section 2505 of such Code is amended by 
     striking ``UNIFIED''.
       (3) The item in the table of sections for subchapter A of 
     chapter 12 of such Code relating to section 2505 is amended 
     to read as follows:

``Sec. 2505. Credit against gift tax.''.
       (e) Effective Date.--The amendments made by this section 
     shall apply to gifts made on or after the date of the 
     enactment of this Act.
       (f) Transition Rule.--
       (1) In general.--For purposes of applying sections 1015(d), 
     2502, and 2505 of the Internal Revenue Code of 1986, the 
     calendar year in which this title is enacted shall be treated 
     as 2 separate calendar years one of which ends on the day 
     before the date of the enactment of this Act and the other of 
     which begins on such date of enactment.
       (2) Application of section 2504(b).--For purposes of 
     applying section 2504(b) of the Internal Revenue Code of 
     1986, the calendar year in which this title is enacted shall 
     be treated as one preceding calendar period.
                                 ______
                                 
  SA 2519. Mr. WHITEHOUSE (for himself and Mr. Grassley) submitted an 
amendment intended to be proposed by him to the bill S. 2237, to 
provide a

[[Page 11165]]

temporary income tax credit for increased payroll and extend bonus 
depreciation for an additional year, and for other purposes; as 
follows:

       At the end, add the following:

     TITLE __--SMALL BUSINESS REORGANIZATION EFFICIENCY AND CLARITY

     SEC. __01 SHORT TITLE.

       This title may be cited as the ``Small Business 
     Reorganization Efficiency and Clarity Act''.

     SEC. __02. FLEXIBILITY IN CONFIRMATION.

       Section 1129(e) of title 11, United States Code, is amended 
     by striking ``45 days'' and inserting ``90 days''.

     SEC. __03. CLARITY IN PERIODIC REPORTING REQUIREMENTS.

       Section 308(b) of title 11, United States Code, is 
     amended--
       (1) in paragraph (4), by adding ``and'' at the end;
       (2) in paragraph (5), by striking ``; and'' at the end and 
     inserting a period; and
       (3) by striking paragraph (6).

     SEC. __04. RETAINING PROFESSIONAL SERVICES.

       (a) In General.--Section 327 of title 11, United States 
     Code, is amended by adding at the end the following:
       ``(g) Notwithstanding subsection (a), a person is not 
     disqualified for employment under this section by a small 
     business debtor solely because such person holds a claim of 
     less than $5,000 that arose prior to the date of commencement 
     of the case.''.
       (b) Adjustments to Dollar Amount.--Section 104 of title 11, 
     United States Code, is amended by inserting ``327(g),'' after 
     ``303(b),''.

     SEC. __05. ENFORCEMENT OF SMALL BUSINESS SELECTION.

       Section 1112(b)(4) of title 11, United States Code, is 
     amended--
       (1) by redesignating subparagraphs (O) and (P) as 
     subparagraphs (P) and (Q), respectively; and
       (2) by inserting after subparagraph (N) the following:
       ``(O) failure of a small business debtor to designate 
     itself as a small business debtor;''.

     SEC. __06. REPORT.

       Not later than 12 months after the date of enactment of 
     this Act, the Comptroller General of the United States, in 
     consultation with the Administrative Office of United States 
     Courts and the Executive Office of United States Trustees, 
     shall submit a report to Congress detailing--
       (1) the number and percentage of all cases filed under 
     chapter 11 of title 11, United States Code, in which the 
     debtor is a small business debtor, as that term is defined in 
     section 101(51D) of title 11, United States Code;
       (2) the number of cases and rates of confirmations for 
     small business debtors in cases filed under chapter 11 of 
     title 11, United States Code, as compared with--
       (A) all debtors in cases filed under that chapter 11;
       (B) all debtors in cases filed under that chapter 11 that 
     are not small business debtors;
       (C) debtors in cases filed under that chapter 11 that--
       (i) are not small business debtors; and
       (ii) have less than $5,000,000 in debt;
       (D) debtors in cases filed under that chapter 11 that--
       (i) are not small business debtors; and
       (ii) have less than $10,000,000 in debt;
       (E) debtors in cases filed under chapter 12 of title 11, 
     United States Code; and
       (F) debtors in cases filed under that chapter 13 that are 
     business cases;
       (3) the number of cases filed under chapter 11 of title 11, 
     United States Code, in which the debtor has less than 
     $2,343,300 in debt outstanding, but does not designate itself 
     a small business debtor;
       (4) recommendations for improving the confirmation rate for 
     small business debtors; and
       (5) an analysis on whether the definition of the term 
     ``small business debtor'' should be amended to include 
     businesses with--
       (A) less than $5,000,000 in debt; and
       (B) less than $10,000,000 in debt.
                                 ______
                                 
  SA 2520. Mr. BENNET (for himself, Mr. Moran, Mr. Udall of Colorado, 
and Mr. Tester) submitted an amendment intended to be proposed by him 
to the bill S. 2237, to provide a temporary income tax credit for 
increased payroll and extend bonus depreciation for an additional year, 
and for other purposes; as follows:

       At the end, add the following:

     SEC. __. EXTENSION OF CREDITS FOR WIND FACILITIES.

       (a) Production Tax Credit.--Paragraph (1) of section 45(d) 
     of the Internal Revenue Code of 1986 is amended by striking 
     ``January 1, 2013'' and inserting ``January 1, 2015''.
       (b) Investment Tax Credit.--Clause (i) of section 
     48(a)(5)(C) of the Internal Revenue Code of 1986 is amended 
     by striking ``or 2012'' and inserting ``2012, 2013, or 
     2014''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to facilities placed in service after December 
     31, 2012.

     SEC. __. DELAY IN APPLICATION OF WORLDWIDE INTEREST.

       (a) In General.--Paragraphs (5)(D) and (6) of section 
     864(f) of the Internal Revenue Code of 1986 are each amended 
     by striking ``December 31, 2020'' and inserting ``December 
     31, 2022''.
       (b) Effective Date.--The amendments made by this section 
     shall take effect on the date of the enactment of this Act.
                                 ______
                                 
  SA 2521. Mr. REID (for Ms. Landrieu) proposed an amendment to the 
bill S. 2237, to provide a temporary income tax credit for increased 
payroll and extend bonus depreciation for an additional year, and for 
other purposes; as follows:

       Strike all after the enacting clause and insert the 
     following:

             DIVISION A--SMALL BUSINESS JOBS AND TAX RELIEF

     SECTION 1. SHORT TITLE.

       This division may be cited as the ``Small Business Jobs and 
     Tax Relief Act''.

     SEC. 2. TEMPORARY TAX CREDIT FOR INCREASED PAYROLL.

       (a) In General.--In the case of a qualified employer who 
     elects the application of this section, there shall be 
     allowed as a credit against the tax imposed by chapter 1 of 
     the Internal Revenue Code of 1986 for the taxable year which 
     includes December 31, 2012, an amount equal to 10 percent of 
     the excess (if any) of--
       (1) the sum of the wages and compensation paid by such 
     qualified employer for qualified services during calendar 
     year 2012, over
       (2) the sum of such wages and compensation paid during 
     calendar year 2011.
       (b) Limitation.--The amount of the excess taken into 
     account under subsection (a) with respect to any qualified 
     employer shall not exceed $5,000,000.
       (c) Wages and Compensation.--For purposes of this section--
       (1) Wages.--The term ``wages'' has the meaning given such 
     term under section 3121 of the Internal Revenue Code of 1986 
     for purposes of the tax imposed by section 3111(a) of such 
     Code.
       (2) Compensation.--The term ``compensation'' has the 
     meaning given such term under section 3231 of such Code for 
     purposes of the portion of the tax imposed by section 3221(a) 
     of such Code that corresponds to the tax imposed by section 
     3111(a) of such Code.
       (3) Application of contribution and benefit base to 
     calendar year 2011.--For purposes of determining wages and 
     compensation under subsection (a)(2), the contribution and 
     benefit base as determined under section 230 of the Social 
     Security Act shall be such amount as in effect for calendar 
     year 2012.
       (4) Special rule when no wages or compensation in 2011.--In 
     any case in which the sum of the wages and compensation paid 
     by a qualified employer for qualified services during 
     calendar year 2011 is zero, then the amount taken into 
     account under subsection (a)(2) shall be 80 percent of the 
     amount taken into account under subsection (a)(1).
       (5) Coordination with other employment credits.--The amount 
     of the excess taken into account under subsection (a) shall 
     be reduced by the sum of all other Federal tax credits 
     determined with respect to wages or compensation paid in 
     calendar year 2012.
       (d) Other Definitions.--
       (1) Qualified employer.--For purposes of this section--
       (A) In general.--The term ``qualified employer'' has the 
     meaning given such term under section 3111(d)(2) of the 
     Internal Revenue Code of 1986, determined by substituting 
     ``section 101 of the Higher Education Act of 1965'' for 
     ``section 101(b) of the Higher Education Act of 1965'' in 
     subparagraph (B) thereof.
       (B) Aggregation rules.--Rules similar to the rules of 
     sections 414(b), 414(c), 414(m), and 414(o) of such Code 
     shall apply to determine when multiple entities shall be 
     treated as a single employer, and rules with respect to 
     predecessor and successor employers may be applied, in such 
     manner as may be prescribed by the Secretary of the Treasury 
     or the Secretary's designee (in this section referred to as 
     the ``Secretary'').
       (2) Qualified services.--The term ``qualified services'' 
     means services performed by an individual who is not 
     described in section 51(i)(1) of such Code (applied by 
     substituting ``qualified employer'' for ``taxpayer'' each 
     place it appears)--
       (A) in a trade or business of the qualified employer, or
       (B) in the case of a qualified employer exempt from tax 
     under section 501(a) of such Code, in furtherance of the 
     activities related to the purpose or function constituting 
     the basis of the employer's exemption under section 501 of 
     such Code.
       (e) Application of Certain Rules.--Rules similar to the 
     rules of sections 280C(a) and 6501(m) of the Internal Revenue 
     Code of 1986 shall apply with respect to the credit 
     determined under this section.
       (f) Treatment of Credit.--For purposes of the Internal 
     Revenue Code of 1986--
       (1) Taxable employers.--
       (A) In general.--The credit allowed under subsection (a) 
     with respect to qualified services described in subsection 
     (d)(2)(A) for any taxable year shall be added to the current 
     year business credit under section 38(b) of

[[Page 11166]]

     such Code for such taxable year and shall be treated as a 
     credit allowed under subpart D of part IV of subchapter A of 
     chapter 1 of such Code.
       (B) Limitation on carrybacks.--No portion of the unused 
     business credit under section 38 of such Code for any taxable 
     year which is attributable to an increase in the current year 
     business credit by reason of subparagraph (A) may be carried 
     to a taxable year beginning before the date of the enactment 
     of this section.
       (2) Tax-exempt employers.--
       (A) In general.--The credit allowed under subsection (a) 
     with respect to qualified services described in subsection 
     (d)(2)(B) for any taxable year--
       (i) shall be treated as a credit allowed under subpart C of 
     part IV of subchapter A of chapter 1 of such Code, and
       (ii) shall be added to the credits described in 
     subparagraph (A) of section 6211(b)(4) of such Code.
       (B) Conforming amendment.--Section 1324(b)(2) of title 31, 
     United States Code, is amended by inserting ``or due under 
     section 2 of the Small Business Jobs and Tax Relief Act'' 
     after ``the Housing Assistance Tax Act of 2008''.
       (g) Treatment of Possessions.--
       (1) Payments to possessions.--
       (A) Mirror code possessions.--The Secretary shall pay to 
     each possession of the United States with a mirror code tax 
     system amounts equal to the loss to that possession by reason 
     of the application of subsections (a) through (f). Such 
     amounts shall be determined by the Secretary based on 
     information provided by the government of the respective 
     possession of the United States.
       (B) Other possessions.--The Secretary shall pay to each 
     possession of the United States which does not have a mirror 
     code tax system the amount estimated by the Secretary as 
     being equal to the loss to that possession that would have 
     occurred by reason of the application of subsections (a) 
     through (f) if a mirror code tax system had been in effect in 
     such possession. The preceding sentence shall not apply with 
     respect to any possession of the United States unless such 
     possession establishes to the satisfaction of the Secretary 
     that the possession has implemented (or, at the discretion of 
     the Secretary, will implement) an income tax benefit which is 
     substantially equivalent to the income tax credit allowed 
     under such subsections.
       (2) Coordination with credit allowed against united states 
     income taxes.--No increase in the credit determined under 
     section 38(b) of the Internal Revenue Code of 1986 against 
     United States income taxes for any taxable year determined by 
     reason of subsection (f)(1)(A) shall be taken into account 
     with respect to any person--
       (A) to whom a credit is allowed against taxes imposed by 
     the possession by reason of this section for such taxable 
     year, or
       (B) who is eligible for a payment under a plan described in 
     paragraph (1)(B) with respect to such taxable year.
       (3) Definitions and special rules.--
       (A) Possession of the united states.--For purposes of this 
     subsection, the term ``possession of the United States'' 
     includes American Samoa, Guam, the Commonwealth of the 
     Northern Mariana Islands, the Commonwealth of Puerto Rico, 
     and the United States Virgin Islands.
       (B) Mirror code tax system.--For purposes of this 
     subsection, the term ``mirror code tax system'' means, with 
     respect to any possession of the United States, the income 
     tax system of such possession if the income tax liability of 
     the residents of such possession under such system is 
     determined by reference to the income tax laws of the United 
     States as if such possession were the United States.
       (C) Treatment of payments.--For purposes of section 
     1324(b)(2) of title 31, United States Code, the payments 
     under this subsection shall be treated in the same manner as 
     a refund due from credit provisions described in such 
     section.
       (h) Regulations.--The Secretary shall prescribe such 
     regulations or guidance as are necessary to carry out the 
     provisions of this section.

     SEC. 3. EXTENSION OF ALLOWANCE FOR BONUS DEPRECIATION FOR 
                   CERTAIN BUSINESS ASSETS.

       (a) Extension of 100 Percent Bonus Depreciation.--
       (1) In general.--Paragraph (5) of section 168(k) of the 
     Internal Revenue Code of 1986 is amended--
       (A) by striking ``January 1, 2012'' each place it appears 
     and inserting ``January 1, 2013'', and
       (B) by striking ``January 1, 2013'' and inserting ``January 
     1, 2014''.
       (2) Conforming amendments.--
       (A) The heading for paragraph (5) of section 168(k) of such 
     Code is amended by striking ``pre-2012 periods'' and 
     inserting ``pre-2013 periods''.
       (B) Clause (ii) of section 460(c)(6)(B) of such Code is 
     amended by striking ``January 1, 2011 (January 1, 2012'' and 
     inserting ``January 1, 2013 (January 1, 2014''.
       (3) Effective dates.--
       (A) In general.--Except as provided in subparagraph (B), 
     the amendments made by this section shall apply to property 
     placed in service after December 31, 2011.
       (B) Conforming amendment.--The amendment made by paragraph 
     (2)(B) shall apply to property placed in service after 
     December 31, 2010.
       (b) Expansion of Election To Accelerate AMT Credits in Lieu 
     of Bonus Depreciation.--
       (1) In general.--Paragraph (4) of section 168(k) of the 
     Internal Revenue Code of 1986 is amended to read as follows:
       ``(4) Election to accelerate amt credits in lieu of bonus 
     depreciation.--
       ``(A) In general.--If a corporation elects to have this 
     paragraph apply for any taxable year--
       ``(i) paragraph (1) shall not apply to any eligible 
     qualified property placed in service by the taxpayer in such 
     taxable year,
       ``(ii) the applicable depreciation method used under this 
     section with respect to such property shall be the straight 
     line method, and
       ``(iii) the limitation imposed by section 53(c) for such 
     taxable year shall be increased by the bonus depreciation 
     amount which is determined for such taxable year under 
     subparagraph (B).
       ``(B) Bonus depreciation amount.--For purposes of this 
     paragraph--
       ``(i) In general.--The bonus depreciation amount for any 
     taxable year is an amount equal to 20 percent of the excess 
     (if any) of--

       ``(I) the aggregate amount of depreciation which would be 
     allowed under this section for eligible qualified property 
     placed in service by the taxpayer during such taxable year if 
     paragraph (1) applied to all such property, over
       ``(II) the aggregate amount of depreciation which would be 
     allowed under this section for eligible qualified property 
     placed in service by the taxpayer during such taxable year if 
     paragraph (1) did not apply to any such property.

     The aggregate amounts determined under subclauses (I) and 
     (II) shall be determined without regard to any election made 
     under subsection (b)(2)(D), (b)(3)(D), or (g)(7) and without 
     regard to subparagraph (A)(ii).
       ``(ii) Limitation.--The bonus depreciation amount for any 
     taxable year shall not exceed the lesser of--

       ``(I) 50 percent of the minimum tax credit under section 
     53(b) for the first taxable year ending after December 31, 
     2011, reduced (but not below zero) by the sum of the bonus 
     depreciation amounts for all taxable years ending after such 
     date for which an election under this paragraph was made 
     which precede the taxable year for which the determination is 
     made (other than amounts determined with respect to property 
     placed in service by the taxpayer on or before such date), or
       ``(II) the minimum tax credit under section 53(b) for such 
     taxable year determined by taking into account only the 
     adjusted minimum tax for taxable years ending before January 
     1, 2012 (determined by treating credits as allowed on a 
     first-in, first-out basis).

       ``(iii) Aggregation rule.--All corporations which are 
     treated as a single employer under section 52(a) shall be 
     treated--

       ``(I) as 1 taxpayer for purposes of this paragraph, and
       ``(II) as having elected the application of this paragraph 
     if any such corporation so elects.

       ``(C) Eligible qualified property.--For purposes of this 
     paragraph, the term `eligible qualified property' means 
     qualified property under paragraph (2), except that in 
     applying paragraph (2) for purposes of this paragraph--
       ``(i) `March 31, 2008' shall be substituted for `December 
     31, 2007' each place it appears in subparagraph (A) and 
     clauses (i) and (ii) of subparagraph (E) thereof,
       ``(ii) `April 1, 2008' shall be substituted for `January 1, 
     2008' in subparagraph (A)(iii)(I) thereof, and
       ``(iii) only adjusted basis attributable to manufacture, 
     construction, or production--

       ``(I) after March 31, 2008, and before January 1, 2010, and
       ``(II) after December 31, 2010, and before January 1, 2013, 
     shall be taken into account under subparagraph (B)(ii) 
     thereof.

       ``(D) Credit refundable.--For purposes of section 6401(b), 
     the aggregate increase in the credits allowable under part IV 
     of subchapter A for any taxable year resulting from the 
     application of this paragraph shall be treated as allowed 
     under subpart C of such part (and not any other subpart).
       ``(E) Other rules.--
       ``(i) Election.--Any election under this paragraph may be 
     revoked only with the consent of the Secretary.
       ``(ii) Partnerships with electing partners.--In the case of 
     a corporation making an election under subparagraph (A) and 
     which is a partner in a partnership, for purposes of 
     determining such corporation's distributive share of 
     partnership items under section 702--

       ``(I) paragraph (1) shall not apply to any eligible 
     qualified property, and
       ``(II) the applicable depreciation method used under this 
     section with respect to such property shall be the straight 
     line method.

       ``(iii) Certain partnerships.--In the case of a partnership 
     in which more than 50 percent of the capital and profits 
     interests are owned (directly or indirectly) at all times

[[Page 11167]]

     during the taxable year by one corporation (or by 
     corporations treated as 1 taxpayer under subparagraph 
     (B)(iii)), for purposes of subparagraph (B), each partner 
     shall take into account its distributive share of the amounts 
     determined by the partnership under subclauses (I) and (II) 
     of clause (i) of such subparagraph for the taxable year of 
     the partnership ending with or within the taxable year of the 
     partner. The preceding sentence shall apply only to amounts 
     determined with respect to property placed in service after 
     December 31, 2011.
       ``(iv) Special rule for passenger aircraft.--In the case of 
     any passenger aircraft, the written binding contract 
     limitation under paragraph (2)(A)(iii)(I) shall not apply for 
     purposes of subparagraphs (B)(i)(I) and (C).''.
       (2) Effective date.--The amendment made by this subsection 
     shall apply to taxable years ending after December 31, 2011.
       (3) Transitional rule.--In the case of a taxable year 
     beginning before January 1, 2012, and ending after December 
     31, 2011, the bonus depreciation amount determined under 
     paragraph (4) of section 168(k) of the Internal Revenue Code 
     of 1986 for such year shall be the sum of--
       (A) such amount determined under such paragraph as in 
     effect on the date before the date of enactment of this Act--
       (i) taking into account only property placed in service 
     before January 1, 2012, and
       (ii) multiplying the limitation under subparagraph (C)(ii) 
     of such paragraph (as so in effect) by a fraction the 
     numerator of which is the number of days in the taxable year 
     before January 1, 2012, and the denominator of which is the 
     number of days in the taxable year, and
       (B) such amount determined under such paragraph as amended 
     by this Act--
       (i) taking into account only property placed in service 
     after December 31, 2011, and
       (ii) multiplying the limitation under subparagraph (B)(ii) 
     of such paragraph (as so in effect) by a fraction the 
     numerator of which is the number of days in the taxable year 
     after December 31, 2011, and the denominator of which is the 
     number of days in the taxable year.

                    DIVISION B--SUCCESS ACT OF 2012

     SEC. 1. SHORT TITLE.

       This division may be cited as the ``Success Ultimately 
     Comes from Capital, Contracting, Education, Strategic 
     Partnerships, and Smart Regulations Act of 2012'' or the 
     ``SUCCESS Act of 2012''.

     SEC. 2. TABLE OF CONTENTS.

       The table of contents for this division is as follows:

                    DIVISION B--SUCCESS ACT OF 2012

Sec. 1. Short title.
Sec. 2. Table of contents.

                 TITLE I--SMALL BUSINESS TAX EXTENDERS

Sec. 101. References.
Sec. 102. Extension of temporary exclusion of 100 percent of gain on 
              certain small business stock.
Sec. 103. Extension of increased amount allowed as a deduction for 
              start-up expenditures.
Sec. 104. Extension of reduction in recognition period for built-in 
              gains tax.
Sec. 105. Extension of 5-year carryback of general business credits of 
              eligible small businesses.
Sec. 106. Extension of increased expensing limitations and treatment of 
              certain real property as section 179 property.

                      TITLE II--ACCESS TO CAPITAL

  Subtitle A--Expanding Access to Capital for Entrepreneurial Leaders

Sec. 211. Short title.
Sec. 212. Program authorization.
Sec. 213. Family of funds.
Sec. 214. Adjustment for inflation.
Sec. 215. Public availability of information.
Sec. 216. Authorized uses of licensing fees.
Sec. 217. Sense of Congress.

                  Subtitle B--Low-Interest Refinancing

Sec. 221. Low-interest refinancing under the local development business 
              loan program.

                 Subtitle C--SBA Lender Activity Index

Sec. 231. SBA lender activity index.

                  TITLE III--ACCESS TO GLOBAL MARKETS

Sec. 301. Short title.
Sec. 302. Report on improvements to Export.gov as a single window for 
              export information.
Sec. 303. Report on developing a single window for information about 
              export control compliance.
Sec. 304. Promotion of exporting.
Sec. 305. Export control education.
Sec. 306. Small Business Inter-Agency Task Force on Export Financing.
Sec. 307. Promotion of exports by rural small businesses.
Sec. 308. Registry of export management and export trading companies.
Sec. 309. Reverse trade missions.
Sec. 310. State Trade and Export Promotion Grant Program.
Sec. 311. Promotion of interagency details.
Sec. 312. Annual export strategy.

  TITLE IV--ACCESS TO MENTORING, EDUCATION, AND STRATEGIC PARTNERSHIPS

      Subtitle A--Measuring the Effectiveness of Resource Partners

Sec. 411. Expanding entrepreneurship.

              Subtitle B--Women's Small Business Ownership

Sec. 421. Short title.
Sec. 422. Definition.
Sec. 423. Office of Women's Business Ownership.
Sec. 424. Women's Business Center Program.
Sec. 425. Study and report on economic issues facing women's business 
              centers.
Sec. 426. Study and report on oversight of women's business centers.

 Subtitle C--Strengthening America's Small Business Development Centers

Sec. 431. Institutions of higher education.
Sec. 432. Updating funding levels for small business development 
              centers.
Sec. 433. Assistance to out-of-state small businesses.
Sec. 434. Termination of small business development center defense 
              economic transition assistance.
Sec. 435. National Small Business Development Center Advisory Board.
Sec. 436. Repeal of Paul D. Coverdell drug-free workplace program.

  Subtitle D--Terminating the National Veterans Business Development 
                              Corporation

Sec. 441. National Veterans Business Development Corporation.

               TITLE V--ACCESS TO GOVERNMENT CONTRACTING

                           Subtitle A--Bonds

Sec. 511. Removal of sunset dates for certain provisions of the Small 
              Business Investment Act of 1958.

        Subtitle B--Small Business Contracting Fraud Prevention

Sec. 521. Short title.
Sec. 522. Definitions.
Sec. 523. Fraud deterrence at the Small Business Administration.
Sec. 524. Veterans integrity in contracting.
Sec. 525. Section 8(a) program improvements.
Sec. 526. HUBZone improvements.
Sec. 527. Annual report on suspension, debarment, and prosecution.

     Subtitle C--Fairness in Women-Owned Small Business Contracting

Sec. 531. Short title.
Sec. 532. Procurement program for women-owned small business concerns.
Sec. 533. Study and report on representation of women.

                  Subtitle D--Small Business Champion

Sec. 541. Short title.
Sec. 542. Offices of Small and Disadvantaged Business Utilization.
Sec. 543. Small Business Procurement Advisory Council.

       TITLE VI--TRANSPARENCY, ACCOUNTABILITY, AND EFFECTIVENESS

             Subtitle A--Small Business Common Application

Sec. 611. Definitions.
Sec. 612. Sense of Congress.
Sec. 613. Executive Committee On a Small Business Common Application.
Sec. 614. Authorization of appropriations.

          Subtitle B--Government Accountability Office Review

Sec. 621. Government Accountability Office review.

                 TITLE I--SMALL BUSINESS TAX EXTENDERS

     SEC. 101. REFERENCES.

       Except as otherwise expressly provided, whenever in this 
     title an amendment or repeal is expressed in terms of an 
     amendment to, or repeal of, a section or other provision, the 
     reference shall be considered to be made to a section or 
     other provision of the Internal Revenue Code of 1986.

     SEC. 102. EXTENSION OF TEMPORARY EXCLUSION OF 100 PERCENT OF 
                   GAIN ON CERTAIN SMALL BUSINESS STOCK.

       (a) In General.--Paragraph (4) of section 1202(a) is 
     amended--
       (1) by striking ``January 1, 2012'' and inserting ``January 
     1, 2014'', and
       (2) by striking ``and 2011'' and inserting ``, 2011, 2012, 
     and 2013'' in the heading thereof.
       (b) Technical Amendments.--
       (1) Special rule for 2009 and certain period in 2010.--
     Paragraph (3) of section 1202(a) is amended by adding at the 
     end the following new flush sentence:

     ``In the case of any stock which would be described in the 
     preceding sentence (but for this sentence), the acquisition 
     date for purposes of this subsection shall be the first day 
     on which such stock was held by the taxpayer determined after 
     the application of section 1223.''.
       (2) 100 percent exclusion.--Paragraph (4) of section 
     1202(a) is amended by adding at the end the following new 
     flush sentence:

     ``In the case of any stock which would be described in the 
     preceding sentence (but for this sentence), the acquisition 
     date for purposes of this subsection shall be the first day 
     on which such stock was held by the taxpayer determined after 
     the application of section 1223.''.
       (c) Effective Dates.--
       (1) In general.--The amendments made by subsection (a) 
     shall apply to stock acquired after December 31, 2011.

[[Page 11168]]

       (2) Subsection (b)(1).--The amendment made by subsection 
     (b)(1) shall take effect as if included in section 1241(a) of 
     division B of the American Recovery and Reinvestment Act of 
     2009.
       (3) Subsection (b)(2).--The amendment made by subsection 
     (b)(2) shall take effect as if included in section 2011(a) of 
     the Creating Small Business Jobs Act of 2010.

     SEC. 103. EXTENSION OF INCREASED AMOUNT ALLOWED AS A 
                   DEDUCTION FOR START-UP EXPENDITURES.

       (a) In General.--Paragraph (3) of section 195(b) is 
     amended--
       (1) by inserting ``, 2012, or 2013'' after ``2010'', and
       (2) by inserting ``2012, and 2013'' in the heading thereof.
       (b) Effective Date.--The amendments made by this section 
     shall apply to amounts paid or incurred in taxable years 
     beginning after December 31, 2011.

     SEC. 104. EXTENSION OF REDUCTION IN RECOGNITION PERIOD FOR 
                   BUILT-IN GAINS TAX.

       (a) In General.--Paragraph (7) of section 1374(d) is 
     amended--
       (1) by redesignating subparagraph (C) as subparagraph (D), 
     and
       (2) by inserting after subparagraph (B) the following new 
     subparagraph:
       ``(C) Special rule for 2012 and 2013.--For dispositions of 
     property in taxable years beginning in 2012 or 2013, 
     subparagraphs (A) and (D) shall be applied by substituting 
     `5-year' for `10-year'.''.
       (b) Technical Amendment.--Subparagraph (B) of section 
     1374(d)(2) is amended by inserting ``described in 
     subparagraph (A)'' after ``, for any taxable year''.
       (c) Effective Date.--The amendments made by subsection (a) 
     shall apply to taxable years beginning after December 31, 
     2011.

     SEC. 105. EXTENSION OF 5-YEAR CARRYBACK OF GENERAL BUSINESS 
                   CREDITS OF ELIGIBLE SMALL BUSINESSES.

       (a) In General.--Subparagraph (A) of section 39(a)(4) is 
     amended by inserting ``or in taxable years beginning in 2012, 
     or 2013'' after ``2010''.
       (b) Technical Amendment.--Section 38(c)(5)(B) is amended--
       (1) by striking ``the sum of'', and
       (2) by inserting ``for any taxable year to which 
     subparagraph (A) applies'' after ``or (4)''.
       (c) Effective Date.--
       (1) In general.--The amendment made by subsection (a) shall 
     apply to credits determined in taxable years beginning after 
     December 31, 2011.
       (2) Technical amendments.--The amendments made by 
     subsection (b) shall take effect as if included in section 
     2013(a) of the Creating Small Business Jobs Act of 2010.

     SEC. 106. EXTENSION OF INCREASED EXPENSING LIMITATIONS AND 
                   TREATMENT OF CERTAIN REAL PROPERTY AS SECTION 
                   179 PROPERTY.

       (a) In General.--
       (1) Dollar limitation.--Section 179(b)(1) is amended--
       (A) by striking ``and'' at the end of subparagraph (C),
       (B) by redesignating subparagraph (D) as subparagraph (E),
       (C) by inserting after subparagraph (C) the following new 
     subparagraph:
       ``(D) $500,000 in the case of taxable years beginning in 
     2013, and'', and
       (D) in subparagraph (E), as so redesignated, by striking 
     ``2012'' and inserting ``2013''.
       (2) Reduction in limitation.--Section 179(b)(2) is 
     amended--
       (A) by striking ``and'' at the end of subparagraph (C),
       (B) by redesignating subparagraph (D) as subparagraph (E),
       (C) by inserting after subparagraph (C) the following new 
     subparagraph:
       ``(D) $2,000,000 in the case of taxable years beginning in 
     2013, and'', and
       (D) in subparagraph (E), as so redesignated, by striking 
     ``2012'' and inserting ``2013''.
       (b) Computer Software.--Section 179(d)(1)(A)(ii) is amended 
     by striking ``2013'' and inserting ``2014''.
       (c) Election.--Section 179(c)(2) is amended by striking 
     ``2013'' and inserting ``2014''.
       (d) Special Rules for Treatment of Qualified Real 
     Property.--
       (1) In general.--Section 179(f)(1) is amended by striking 
     ``2010 or 2011'' and inserting ``2010, 2011, or 2013''.
       (2) Carryover limitation.--Section 179(f)(4) is amended by 
     striking subparagraphs (A) through (C) and inserting the 
     following:
       ``(A) In general.--Notwithstanding subsection (b)(3)(B)--
       ``(i) no amount attributable to qualified real property 
     placed in service in any taxable year beginning in 2010 or 
     2011 may be carried over to any taxable year beginning after 
     2011, and
       ``(ii) no amount attributable to qualified real property 
     placed in service in any taxable year beginning in 2013 may 
     be carried over to any taxable year beginning after 2013.
       ``(B) Treatment of disallowed amounts.--Except as provided 
     in subparagraph (C)--
       ``(i) Taxable years beginning after 2011.--To the extent 
     that any amount is not allowed to be carried over to a 
     taxable year beginning after 2011 by reason of subparagraph 
     (A)(i), this title shall be applied as if no election under 
     this section had been made with respect to such amount.
       ``(ii) Taxable years beginning after 2013.--To the extent 
     that any amount is not allowed to be carried over to a 
     taxable year beginning after 2013 by reason of subparagraph 
     (A)(ii), this title shall be applied as if no election under 
     this section had been made with respect to such amount.
       ``(C) Amounts carried over from certain taxable years.--
       ``(i) Amounts carried over from 2010.--If subparagraph 
     (B)(i) applies to any amount (or portion of an amount) which 
     is carried over from a taxable year other than the taxpayer's 
     last taxable year beginning in 2011, such amount (or portion 
     of an amount) shall be treated for purposes of this title as 
     attributable to property placed in service on the first day 
     of the taxpayer's last taxable year beginning in 2011.
       ``(ii) Amounts carried over from 2013.--If subparagraph 
     (B)(ii) applies to any amount (or portion of an amount) which 
     is carried over from a taxable year other than the taxpayer's 
     last taxable year beginning in 2013, such amount (or portion 
     of an amount) shall be treated for purposes of this title as 
     attributable to property placed in service on the first day 
     of the taxpayer's last taxable year beginning in 2013.''.
       (e) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2012.

                      TITLE II--ACCESS TO CAPITAL

  Subtitle A--Expanding Access to Capital for Entrepreneurial Leaders

     SEC. 211. SHORT TITLE.

       This subtitle may be cited as the ``EXCEL Act of 2012''.

     SEC. 212. PROGRAM AUTHORIZATION.

       Section 303(b) of the Small Business Investment Act of 1958 
     (15 U.S.C. 683(b)) is amended, in the matter preceding 
     paragraph (1), in the first sentence, by inserting after 
     ``issued by such companies'' the following: ``, in a total 
     amount that does not exceed $4,000,000,000 each fiscal year 
     (adjusted annually to reflect increases in the Consumer Price 
     Index established by the Bureau of Labor Statistics of the 
     Department of Labor)''.

     SEC. 213. FAMILY OF FUNDS.

       Section 303(b)(2)(B) of the Small Business Investment Act 
     of 1958 (15 U.S.C. 683(b)(2)(B)) is amended by striking 
     ``$225,000,000'' and inserting ``$350,000,000''.

     SEC. 214. ADJUSTMENT FOR INFLATION.

       Section 303(b)(2) of the Small Business Investment Act of 
     1958 (15 U.S.C. 683(b)(2)) is amended by adding at the end 
     the following:
       ``(E) Adjustments.--
       ``(i) In general.--The dollar amounts in subparagraph 
     (A)(ii), subparagraph (B), and subparagraph (C)(ii)(I) shall 
     be adjusted annually to reflect increases in the Consumer 
     Price Index established by the Bureau of Labor Statistics of 
     the Department of Labor (in this subparagraph referred to as 
     the `CPI').
       ``(ii) Applicability.--The adjustments required by clause 
     (i)--

       ``(I) with respect to dollar amounts in subparagraphs 
     (A)(ii) and (C)(ii)(I) shall initially reflect increases in 
     the CPI during the period beginning on the effective date of 
     section 505 of the American Recovery and Reinvestment Act of 
     2009 (Public Law 111-5; 123 Stat. 156) through the date of 
     enactment of this subparagraph and annually thereafter;
       ``(II) with respect to dollar amounts in subparagraph (B) 
     shall reflect increases in the CPI annually on and after the 
     date of enactment of this subparagraph.''.

     SEC. 215. PUBLIC AVAILABILITY OF INFORMATION.

       Section 303 of the Small Business Investment Act of 1958 
     (15 U.S.C. 683) is amended by adding at the end the 
     following:
       ``(l) Access to Fund Information.--Annually, the 
     Administrator shall make public on its website the following 
     information with respect to each small business investment 
     company:
       ``(1) The amount of capital deployed since fund inception.
       ``(2) The amount of leverage drawn since fund inception.
       ``(3) The number of investments since fund inception.
       ``(4) The number of businesses receiving capital since fund 
     inception.
       ``(5) Industry sectors receiving investment since fund 
     inception.
       ``(6) The amount of leverage principal repaid by the small 
     business investment company since fund inception.
       ``(7) A basic description of investment strategy.''.

     SEC. 216. AUTHORIZED USES OF LICENSING FEES.

       Section 301 of the Small Business Investment Act of 1958 
     (15 U.S.C. 681) is amended--
       (1) by redesignating subsection (e) as subsection (d); and
       (2) in subsection (d)(2)(B), as so redesignated, by 
     inserting before the period at the end the following: ``and 
     other small business investment company program needs''.

     SEC. 217. SENSE OF CONGRESS.

       It is the sense of Congress that--
       (1) small business investment companies would benefit from 
     partnerships with community banks and other lenders, and 
     should

[[Page 11169]]

     work with community banks and other lenders, to ensure that 
     if community banks and other lenders deny an application by a 
     small business concern for a loan, the community banks or 
     other lenders will refer the small business concern to small 
     business investment companies; and
       (2) the Administrator of the Small Business Administration 
     (in this division referred to as the ``Administrator'') 
     should--
       (A) increase outreach to community banks and other lenders 
     to encourage community banks and other lenders to invest in 
     small business investment companies;
       (B) use the Internet to make publicly available in a timely 
     manner which small business investment companies are actively 
     soliciting investments and making investments in small 
     business concerns;
       (C) partner with governors, mayors, States, and 
     municipalities to increase outreach by small business 
     investment companies to underserved and rural areas; and
       (D) continue to make changes to the webpage for the small 
     business investment company program, to make the webpage--
       (i) a more prominent part of the website of the 
     Administration; and
       (ii) more user-friendly.

                  Subtitle B--Low-Interest Refinancing

     SEC. 221. LOW-INTEREST REFINANCING UNDER THE LOCAL 
                   DEVELOPMENT BUSINESS LOAN PROGRAM.

       Section 1122(b) of the Small Business Jobs Act of 2010 (15 
     U.S.C. 696 note) is amended by striking ``2 years'' and 
     inserting ``on the date that is 3 years and 6 months''.

                 Subtitle C--SBA Lender Activity Index

     SEC. 231. SBA LENDER ACTIVITY INDEX.

       Section 4 of the Small Business Act (15 U.S.C. 633) is 
     amended by adding at the end the following:
       ``(g) SBA Lender Activity Index.--
       ``(1) Definition.--In this subsection, the term `covered 
     loan' means a loan made or debenture issued under this Act or 
     the Small Business Investment Act of 1958 (15 U.S.C. 661 et 
     seq.) by a private individual or entity.
       ``(2) Requirement.--Not later than 6 months after the date 
     of enactment of this subsection, the Administrator shall make 
     publicly available on the website of the Administration a 
     user-friendly database of information relating to lenders 
     making covered loans (to be known as the `Lender Activity 
     Index').
       ``(3) Data included.--
       ``(A) In general.--The database made available under 
     paragraph (2) shall include, for each lender making a covered 
     loan--
       ``(i) the name of the lender;
       ``(ii) the number of covered loans made by the lender;
       ``(iii) the total dollar amount of covered loans made by 
     the lender;
       ``(iv) a list of each ZIP code in which a recipient of a 
     covered loan made by the lender is located;
       ``(v) a list of the industries of the recipients to which 
     the lender made a covered loan;
       ``(vi) whether the covered loan is for an existing business 
     or a new business;
       ``(vii) the number and total dollar amount of covered loans 
     made by the lender to--

       ``(I) small business concerns owned and controlled by 
     women;
       ``(II) socially and economically disadvantaged small 
     business concerns (as defined in section 8(a)(4)(A)); and
       ``(III) small business concerns owned and controlled by 
     veterans; and

       ``(viii) whether the covered loan was made under section 
     7(a) or under the program to provide financing to small 
     business concerns through guarantees of loans under title V 
     of the Small Business Investment Act of 1958 (15 U.S.C. 695 
     et seq.).
       ``(B) Incorporation of data.--The Administrator shall--
       ``(i) include in the database made available under 
     paragraph (2) information relating to covered loans made 
     during fiscal years 2009, 2010, 2011, and 2012; and
       ``(ii) incorporate information relating to covered loans on 
     an ongoing basis.
       ``(C) Period of data availability.--The Administrator shall 
     retain information relating to a covered loan in the database 
     made available under paragraph (2) until not earlier than the 
     end of the third fiscal year beginning after the fiscal year 
     during which the covered loan was made.''.

                  TITLE III--ACCESS TO GLOBAL MARKETS

     SEC. 301. SHORT TITLE.

       This title may be cited as the ``Small Business Export 
     Growth Act of 2012''.

     SEC. 302. REPORT ON IMPROVEMENTS TO EXPORT.GOV AS A SINGLE 
                   WINDOW FOR EXPORT INFORMATION.

       (a) In General.--Not later than 180 days after the date of 
     enactment of this Act, the Director of International Trade of 
     the Small Business Administration shall, after consultation 
     with the entities specified in subsection (b), submit to the 
     Committee on Small Business and Entrepreneurship and the 
     Committee on Banking, Housing, and Urban Affairs of the 
     Senate and the Committee on Small Business and the Committee 
     on Foreign Affairs of the House of Representatives a report 
     that includes the recommendations of the Director for 
     improving the experience provided by the website Export.gov 
     (or a successor website) as--
       (1) a comprehensive resource for information about 
     exporting articles from the United States; and
       (2) a single website for exporters to submit all 
     information required by the Federal Government with respect 
     to the exportation of articles from the United States.
       (b) Entities Specified.--The entities specified in this 
     subsection are--
       (1) small business concerns (as defined in section 3 of the 
     Small Business Act (15 U.S.C. 632)) that are exporters; and
       (2) the President's Export Council, State agencies with 
     responsibility for export promotion or export financing, 
     district export councils, and trade associations.

     SEC. 303. REPORT ON DEVELOPING A SINGLE WINDOW FOR 
                   INFORMATION ABOUT EXPORT CONTROL COMPLIANCE.

       (a) In General.--Not later than 180 days after the date of 
     enactment of this Act, the Chief Counsel for Advocacy of the 
     Small Business Administration shall submit to the appropriate 
     congressional committees a report assessing the benefits of 
     developing a website to serve as--
       (1) a comprehensive resource for complying with and 
     information about the export control laws and regulations of 
     the United States; and
       (2) a single website for exporters to submit all 
     information required by the Federal Government with respect 
     to export controls.
       (b) Appropriate Congressional Committees Defined.--In this 
     section, the term ``appropriate congressional committees'' 
     means--
       (1) the Committee on Commerce, Science, and Transportation, 
     the Committee on Banking, Housing, and Urban Affairs, and the 
     Committee on Small Business and Entrepreneurship of the 
     Senate; and
       (2) the Committee on Energy and Commerce, the Committee on 
     Foreign Affairs, and the Committee on Small Business of the 
     House of Representatives.

     SEC. 304. PROMOTION OF EXPORTING.

       Section 22(c)(11) of the Small Business Act (15 U.S.C. 
     649(c)(11)) is amended by inserting ``, which shall include 
     conducting not fewer than 1 outreach event each fiscal year 
     in each State that promotes exporting as a business 
     development opportunity for small business concerns'' before 
     the semicolon.

     SEC. 305. EXPORT CONTROL EDUCATION.

       Section 22 of the Small Business Act (15 U.S.C. 649) is 
     amended--
       (1) by redesignating subsection (l) as subsection (n); and
       (2) by inserting after subsection (k) the following:
       ``(l) Export Control Education.--The Associate 
     Administrator shall ensure that all programs of the 
     Administration to support exporting by small business 
     concerns place a priority on educating small business 
     concerns about Federal export control regulations.''.

     SEC. 306. SMALL BUSINESS INTER-AGENCY TASK FORCE ON EXPORT 
                   FINANCING.

       The Administrator, in consultation with the Secretary of 
     Agriculture, the President of the Export-Import Bank of the 
     United States, and the President of the Overseas Private 
     Investment Corporation shall jointly establish a Small 
     Business Inter-Agency Task Force on Export Financing to--
       (1) review and improve Federal export finance programs for 
     small business concerns; and
       (2) coordinate the activities of the Federal Government to 
     assist small business concerns seeking to export.

     SEC. 307. PROMOTION OF EXPORTS BY RURAL SMALL BUSINESSES.

       (a) Small Business Administration-United States Department 
     of Agriculture Interagency Coordination.--
       (1) Export financing programs.--In coordination with the 
     Secretary of Agriculture, the Administrator shall develop a 
     program to cross-train export finance specialists and 
     personnel from the Office of International Trade of the 
     Administration on the export financing programs of the 
     Department of Agriculture and the Foreign Agricultural 
     Service.
       (2) Export assistance and business counseling programs.--In 
     coordination with the Secretary of Agriculture and the 
     Foreign Agricultural Service, the Administrator shall develop 
     a program to cross-train export finance specialists, 
     personnel from the Office of International Trade of the 
     Administration, Small Business Development Centers, women's 
     business centers, the Service Corps of Retired Executives 
     authorized by section 8(b)(1) of the Small Business Act (15 
     U.S.C. 637(b)(1)), Export Assistance Centers, and other 
     resource partners of the Administration on the export 
     assistance and business counseling programs of the Department 
     of Agriculture.
       (b) Report on Lenders.--Section 7(a)(16)(F) of the Small 
     Business Act (15 U.S.C. 636(a)(16)(F)) is amended--
       (1) in clause (i)--
       (A) by redesignating subclauses (I) through (III) as items 
     (aa) through (cc), respectively, and adjusting the margins 
     accordingly;
       (B) by striking ``list, have made'' and inserting the 
     following: ``list--

       ``(I) have made'';

       (C) in item (cc), as so redesignated, by striking the 
     period at the end and inserting ``; and''; and
       (D) by adding at the end the following:

[[Page 11170]]

       ``(II) were located in a rural area, as that term is 
     defined in section 1393(a)(2) of the Internal Revenue Code of 
     1986, or a nonmetropolitan statistical area and have made--

       ``(aa) loans guaranteed by the Administration; or
       ``(bb) loans through the programs offered by the United 
     States Department of Agriculture or the Foreign Agricultural 
     Service.''; and
       (2) in clause (ii)(II), by inserting ``and by resource 
     partners of the Administration'' after ``the 
     Administration''.
       (c) Cooperation With Small Business Development Centers.--
     Section 21(c)(3)(M) of the Small Business Act (15 U.S.C. 
     648(c)(3)(M)) is amended by inserting after ``the Department 
     of Commerce,'' the following: ``the Department of 
     Agriculture,''.
       (d) List of Rural Export Assistance Resources.--Section 
     22(c)(7) of the Small Business Act (15 U.S.C. 649(c)(7)) is 
     amended--
       (1) in subparagraph (C), by striking ``and'' at the end;
       (2) by redesignating subparagraph (D) as subparagraph (E); 
     and
       (3) by inserting after subparagraph (C) the following:
       ``(D) publishing an annual list of relevant resources and 
     programs of the district and regional offices of the 
     Administration, other Federal agencies, the small business 
     development center network, Export Assistance Centers, the 
     network of women's business centers, chapters of the Service 
     Corps of Retired Executives, State and local export promotion 
     programs, and partners in the private sector, that--
       ``(i) are administered or offered by entities located in 
     rural or nonmetropolitan statistical areas; and
       ``(ii) offer export assistance or business counseling 
     services to rural small businesses concerns; and''.

     SEC. 308. REGISTRY OF EXPORT MANAGEMENT AND EXPORT TRADING 
                   COMPANIES.

       (a) Coordination With Export Management Companies and 
     Export Trading Companies.--Not later than 1 year after the 
     date of enactment of this Act, the Administrator shall 
     establish a program to register export management companies, 
     as that term is defined by the Department of Commerce, and 
     export trading companies, as that term is defined in section 
     103 of the Export Trading Company Act of 1982 (15 U.S.C. 
     4002).
       (b) Requirements.--The program established under subsection 
     (a) shall--
       (1) be similar to the program of the Administration for 
     registering franchise companies, as in effect on the date of 
     enactment of this Act; and
       (2) require that a list of the export management companies 
     and export trading companies that register under the program, 
     categorized by the type of product exported by the company, 
     be made available on the website of the Administration.

     SEC. 309. REVERSE TRADE MISSIONS.

       Section 22(c) of the Small Business Act (15 U.S.C. 649(c)) 
     is amended--
       (1) in paragraph (12), by striking ``and'' at the end;
       (2) in paragraph (13), by striking the period at the end 
     and inserting ``; and''; and
       (3) by adding at the end the following:
       ``(14) in coordination with other relevant Federal 
     agencies, encourage the participation of employees and 
     resource partners of the Administration in reverse trade 
     missions hosted or sponsored by the Federal Government.''.

     SEC. 310. STATE TRADE AND EXPORT PROMOTION GRANT PROGRAM.

       Section 1207(a)(5) of the Small Business Jobs Act of 2010 
     (15 U.S.C. 649b note) is amended by inserting after ``Guam,'' 
     the following: ``the Commonwealth of the Northern Mariana 
     Islands,''.

     SEC. 311. PROMOTION OF INTERAGENCY DETAILS.

       It is the sense of Congress that the Administrator should 
     periodically detail staff of the Administration to other 
     Federal agencies that are members of the Trade Promotion 
     Coordinating Committee, to facilitate the cross training of 
     the staff of the Administration on the export assistance 
     programs of such other agencies.

     SEC. 312. ANNUAL EXPORT STRATEGY.

       Section 22 of the Small Business Act (15 U.S.C. 649), as 
     amended by section 305 of this division, is amended by adding 
     at the end the following:
       ``(m) Small Business Trade Strategy.--
       ``(1) Development of small business trade strategy.--The 
     Associate Administrator shall develop and maintain a small 
     business trade strategy that is included in the report on the 
     governmentwide strategic plan for Federal trade promotion 
     required to be submitted to Congress by the Trade Promotion 
     Coordinating Committee under section 2312(f)(1) of the Export 
     Enhancement Act of 1988 (15 U.S.C. 4727(f)(1)) that includes, 
     at a minimum--
       ``(A) strategies to increase export opportunities for small 
     business concerns, including a specific strategy to increase 
     opportunities for small business concerns that are new to 
     exporting;
       ``(B) recommendations to increase the competitiveness in 
     the global economy of small business concerns in the United 
     States that are part of industries in which small business 
     concerns account for a high proportion of participating 
     businesses;
       ``(C) recommendations to protect small business concerns 
     from unfair trade practices, including intellectual property 
     violations;
       ``(D) recommendations for strategies to promote and 
     facilitate opportunities in the foreign markets that are most 
     accessible for small business concerns that are new to 
     exporting; and
       ``(E) strategies to expand the representation of small 
     business concerns in the formation and implementation of 
     United States trade policy.
       ``(2) Annual report to congress.--At the beginning 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 small business trade strategy 
     required under paragraph (1), which shall contain, at a 
     minimum--
       ``(A) a description of each strategy and recommendation 
     described in paragraph (1);
       ``(B) specific policies and objectives, together with 
     timelines for the implementation of such policies and 
     objectives; and
       ``(C) a description of the progress of the Administration 
     in implementing the strategies and recommendations contained 
     in the report submitted for the preceding fiscal year.''.

  TITLE IV--ACCESS TO MENTORING, EDUCATION, AND STRATEGIC PARTNERSHIPS

      Subtitle A--Measuring the Effectiveness of Resource Partners

     SEC. 411. EXPANDING ENTREPRENEURSHIP.

       Section 4 of the Small Business Act (15 U.S.C. 633), as 
     amended by this division, is amended by adding at the end the 
     following:
       ``(h) Management and Direction.--
       ``(1) Plan for entrepreneurial development and job creation 
     strategy.--
       ``(A) Plan required.--The Administrator, in consultation 
     with a representative from each entrepreneurial development 
     program of the Administration, shall develop and submit to 
     Congress a plan for using the entrepreneurial development 
     programs of the Administration to create jobs during fiscal 
     years 2013 and 2014.
       ``(B) Contents of plan.--The plan required under 
     subparagraph (A) shall--
       ``(i) include the plan of the Administrator for using 
     existing programs, including small business development 
     centers, women's business centers, the Service Corps of 
     Retired Executives authorized by section 8(b)(1), Veterans 
     Business Outreach Centers, and programs of the Office of 
     Native American Affairs, to create jobs;
       ``(ii) identify a strategy for each region of the 
     Administration to use programs of the Administration to 
     create or retain jobs in the region; and
       ``(iii) establish performance measures and criteria, 
     including goals for job creation, job retention, and job 
     retraining, to evaluate the success of the plan.
       ``(2) Data collection process.--
       ``(A) In general.--The Administrator shall, after notice 
     and opportunity for comment, promulgate a rule to develop and 
     implement a consistent data collection process for the 
     entrepreneurial development programs.
       ``(B) Contents.--The data collection process developed 
     under subparagraph (A) shall collect data relating to job 
     creation and performance and any other data determined 
     appropriate by the Administrator.
       ``(3) Coordination and alignment of sba entrepreneurial 
     development programs.--The Administrator, in consultation 
     with other Federal departments and agencies as the 
     Administrator determines is appropriate, shall submit an 
     annual report to Congress describing opportunities to foster 
     coordination of, limit duplication among, and improve program 
     delivery for Federal entrepreneurial development programs.
       ``(4) Database of entrepreneurial development service 
     providers.--
       ``(A) Establishment.--After providing a period of 60 days 
     for public comment, the Administrator shall--
       ``(i) establish a database of providers of entrepreneurial 
     development services; and
       ``(ii) make the database available through the website of 
     the Administration.
       ``(B) Searchability.--The database established under 
     subparagraph (A) shall be searchable by industry, geographic 
     location, and service required.
       ``(5) Community specialist.--
       ``(A) Designation.--The Administrator shall designate not 
     fewer than 1 staff member in each district office of the 
     Administration as a community specialist whose full-time 
     responsibility is working with local providers of 
     entrepreneurial development services to increase coordination 
     with Federal entrepreneurial development programs.
       ``(B) Performance.--The Administrator shall develop 
     benchmarks for measuring the

[[Page 11171]]

     performance of community specialists under this paragraph.''.

              Subtitle B--Women's Small Business Ownership

     SEC. 421. SHORT TITLE.

       This subtitle may be cited as the ``Women's Small Business 
     Ownership Act of 2012''.

     SEC. 422. DEFINITION.

       In this subtitle, the term ``Administrator'' means the 
     Administrator of the Small Business Administration.

     SEC. 423. OFFICE OF WOMEN'S BUSINESS OWNERSHIP.

       (a) In General.--Section 29(g) of the Small Business Act 
     (15 U.S.C. 656(g)) is amended--
       (1) in paragraph (2)--
       (A) in subparagraph (B)--
       (i) in clause (i), by striking ``in the areas'' and all 
     that follows through the end of subclause (I), and inserting 
     the following: ``to address issues concerning the management, 
     operations, manufacturing, technology, finance, retail and 
     product sales, international trade, Government contracting, 
     and other disciplines required for--

       ``(I) starting, operating, and increasing the business of a 
     small business concern;''; and

       (ii) in clause (ii), by striking ``Women's Business Center 
     program'' each place that term appears and inserting 
     ``women's business center program''; and
       (B) in subparagraph (C), by inserting before the period at 
     the end the following: ``, the National Women's Business 
     Council, and any association of women's business centers''; 
     and
       (2) by adding at the end the following:
       ``(3) Training.--The Administrator may provide annual 
     programmatic and financial examination training for women's 
     business ownership representatives and district office 
     technical representatives of the Administration to enable 
     representatives to carry out their responsibilities.
       ``(4) Program and transparency improvements.--The 
     Administrator shall maximize the transparency of the women's 
     business center financial assistance proposal process and the 
     programmatic and financial examination process by--
       ``(A) providing public notice of any announcement for 
     financial assistance under subsection (b) or a grant under 
     subsection (l) not later than the end of the first quarter of 
     each fiscal year;
       ``(B) in the announcement described in subparagraph (A), 
     outlining award and program evaluation criteria and 
     describing the weighting of the criteria for financial 
     assistance under subsection (b) and grants under subsection 
     (l);
       ``(C) minimizing paperwork and reporting requirements for 
     applicants for and recipients of financial assistance under 
     this section;
       ``(D) standardizing the programmatic and financial 
     examination process; and
       ``(E) providing to each women's business center, not later 
     than 60 days after the completion of a site visit to the 
     women's business center (whether conducted for an audit, 
     performance review, or other reason), a copy of any site 
     visit reports or evaluation reports prepared by district 
     office technical representatives or officers or employees of 
     the Administration.''.
       (b) Change of Title.--
       (1) In general.--Section 29 of the Small Business Act (15 
     U.S.C. 656) is amended--
       (A) in subsection (a)--
       (i) by striking paragraphs (1) and (4);
       (ii) by redesignating paragraphs (2) and (3) as paragraphs 
     (4) and (5), respectively; and
       (iii) by inserting before paragraph (4), as so 
     redesignated, the following:
       ``(2) the term `Director' means the Director of the Office 
     of Women's Business Ownership established under subsection 
     (g);'';
       (B) by striking ``Assistant Administrator'' each place that 
     term appears and inserting ``Director''; and
       (C) in subsection (g)(2), in the paragraph heading, by 
     striking ``Assistant administrator'' and inserting 
     ``Director''.
       (2) Women's business ownership act of 1988.--Title IV of 
     the Women's Business Ownership Act of 1988 (15 U.S.C. 7101 et 
     seq.) is amended--
       (A) in section 403(a)(2)(B), by striking ``Assistant 
     Administrator'' and inserting ``Director'';
       (B) in section 405, by striking ``Assistant Administrator'' 
     and inserting ``Director''; and
       (C) in section 406(c), by striking ``Assistant 
     Administrator'' and inserting ``Director''.

     SEC. 424. WOMEN'S BUSINESS CENTER PROGRAM.

       (a) Women's Business Center Financial Assistance.--Section 
     29 of the Small Business Act (15 U.S.C. 656) is amended--
       (1) in subsection (a), as amended by section 423(b) of this 
     division--
       (A) by inserting before paragraph (2) the following:
       ``(1) the term `association of women's business centers' 
     means an organization--
       ``(A) that represents not less than 51 percent of the 
     women's business centers that participate in a program under 
     this section; and
       ``(B) whose primary purpose is to represent women's 
     business centers;'';
       (B) by inserting after paragraph (2) the following:
       ``(3) the term `eligible entity' means--
       ``(A) a private nonprofit organization;
       ``(B) a State, regional, or local economic development 
     organization;
       ``(C) a development, credit, or finance corporation 
     chartered by a State;
       ``(D) a junior or community college, as defined in section 
     312(f) of the Higher Education Act of 1965 (20 U.S.C. 
     1058(f)); or
       ``(E) any combination of entities listed in subparagraphs 
     (A) through (D);''; and
       (C) by adding after paragraph (5) the following:
       ``(6) the term `women's business center' means a project 
     conducted by an eligible entity under this section.'';
       (2) in subsection (b)--
       (A) by redesignating paragraphs (1), (2), and (3) as 
     subparagraphs (A), (B), and (C), and adjusting the margins 
     accordingly;
       (B) by striking ``The Administration'' and all that follows 
     through ``5-year projects'' and inserting the following:
       ``(1) In general.--The Administration may provide financial 
     assistance to an eligible entity to conduct a project under 
     this section'';
       (C) by striking ``The projects shall'' and inserting the 
     following:
       ``(2) Use of funds.--The project shall be designed to 
     provide training and counseling that meets the needs of 
     women, especially socially and economically disadvantaged 
     women, and shall''; and
       (D) by adding at the end the following:
       ``(3) Amount of financial assistance.--
       ``(A) In general.--The Administrator may award financial 
     assistance under this subsection of not less than $100,000 
     and not more than $150,000 per year.
       ``(B) Lower amount.--The Administrator may award financial 
     assistance under this subsection to a recipient in an amount 
     that is less than $100,000 if the Administrator determines 
     that the recipient is unable to make a non-Federal 
     contribution of $100,000 or more, as required under 
     subsection (c).
       ``(C) Equal allocations.--If the Administration has 
     insufficient funds to provide financial assistance of not 
     less than $100,000 for each recipient of financial assistance 
     under this subsection in any fiscal year, the Administrator 
     shall provide an equal amount of financial assistance to each 
     recipient in the fiscal year, unless a recipient requests a 
     lower amount than the allocated amount.
       ``(4) Consultation with associations of women's business 
     centers.--The Administrator shall consult with each 
     association of women's business centers to develop--
       ``(A) a training program for the staff of women's business 
     centers and the Administration; and
       ``(B) recommendations to improve the policies and 
     procedures for governing the general operations and 
     administration of the women's business center program, 
     including grant program improvements under subsection 
     (g)(4).'';
       (3) in subsection (c)--
       (A) in paragraph (1) by striking ``the recipient 
     organization'' and inserting ``an eligible entity'';
       (B) in paragraph (3), in the second sentence, by striking 
     ``a recipient organization'' and inserting ``an eligible 
     entity'';
       (C) in paragraph (4)--
       (i) by striking ``recipient of assistance'' and inserting 
     ``eligible entity'';
       (ii) by striking ``such organization'' and inserting ``the 
     eligible entity''; and
       (iii) by striking ``recipient'' and inserting ``eligible 
     entity''; and
       (D) in paragraph (5)--
       (i) in subparagraph (A), by striking ``a recipient 
     organization'' and inserting ``an eligible entity''; and
       (ii) by striking ``the recipient organization'' each place 
     it appears and inserting ``the eligible entity''; and
       (E) by adding at end the following:
       ``(6) Separation of project and funds.--An eligible entity 
     shall--
       ``(A) carry out a project under this section separately 
     from other projects, if any, of the eligible entity; and
       ``(B) separately maintain and account for any financial 
     assistance under this section.'';
       (4) in subsection (e)--
       (A) by striking ``applicant organization'' and inserting 
     ``eligible entity'';
       (B) by striking ``a recipient organization'' and inserting 
     ``an eligible entity''; and
       (C) by striking ``site'';
       (5) by striking subsection (f) and inserting the following:
       ``(f) Applications and Criteria for Initial Financial 
     Assistance.--
       ``(1) Application.--Each eligible entity desiring financial 
     assistance under subsection (b) shall submit to the 
     Administrator an application that contains--
       ``(A) a certification that the eligible entity--
       ``(i) has designated an executive director or program 
     manager, who may be compensated using financial assistance 
     under subsection (b) or other sources, to manage the center 
     on a full-time basis;
       ``(ii) as a condition of receiving financial assistance 
     under subsection (b), agrees--

       ``(I) to receive a site visit by the Administrator as part 
     of the final selection process;
       ``(II) to undergo an annual programmatic and financial 
     examination; and
       ``(III) to the maximum extent practicable, to remedy any 
     problems identified pursuant to the site visit or examination 
     under subclause (I) or (II); and

[[Page 11172]]

       ``(iii) meets the accounting and reporting requirements 
     established by the Director of the Office of Management and 
     Budget;
       ``(B) information demonstrating that the eligible entity 
     has the ability and resources to meet the needs of the market 
     to be served by the women's business center for which 
     financial assistance under subsection (b) is sought, 
     including the ability to obtain the non-Federal contribution 
     required under subsection (c);
       ``(C) information relating to the assistance to be provided 
     by the women's business center for which financial assistance 
     under subsection (b) is sought in the area in which the 
     women's business center is located;
       ``(D) information demonstrating the experience and 
     effectiveness of the eligible entity in--
       ``(i) conducting financial, management, and marketing 
     assistance programs, as described in subsection (b)(2), which 
     are designed to teach or upgrade the business skills of women 
     who are business owners or potential business owners;
       ``(ii) providing training and services to a representative 
     number of women who are socially and economically 
     disadvantaged; and
       ``(iii) working with resource partners of the 
     Administration and other entities, such as universities; and
       ``(E) a 5-year plan that describes the ability of the 
     women's business center for which financial assistance is 
     sought--
       ``(i) to serve women who are business owners or potential 
     business owners by conducting training and counseling 
     activities; and
       ``(ii) to provide training and services to a representative 
     number of women who are socially and economically 
     disadvantaged.
       ``(2) Additional information.--The Administrator shall make 
     any request for additional information from an organization 
     applying for financial assistance under subsection (b) that 
     was not requested in the original announcement in writing.
       ``(3) Review and approval of applications for initial 
     financial assistance.--
       ``(A) In general.--The Administrator shall--
       ``(i) review each application submitted under paragraph 
     (1), based on the information described in such paragraph and 
     the criteria set forth under subparagraph (B) of this 
     paragraph; and
       ``(ii) to the extent practicable, as part of the final 
     selection process, conduct a site visit to each women's 
     business center for which financial assistance under 
     subsection (b) is sought.
       ``(B) Selection criteria.--
       ``(i) In general.--The Administrator shall evaluate 
     applicants for financial assistance under subsection (b) in 
     accordance with selection criteria that are--

       ``(I) established before the date on which applicants are 
     required to submit the applications;
       ``(II) stated in terms of relative importance; and
       ``(III) publicly available and stated in each solicitation 
     for applications for financial assistance under subsection 
     (b) made by the Administrator.

       ``(ii) Required criteria.--The selection criteria for 
     financial assistance under subsection (b) shall include--

       ``(I) the experience of the applicant in conducting 
     programs or ongoing efforts designed to teach or enhance the 
     business skills of women who are business owners or potential 
     business owners;
       ``(II) the ability of the applicant to begin a project 
     within a minimum amount of time;
       ``(III) the ability of the applicant to provide training 
     and services to a representative number of women who are 
     socially and economically disadvantaged; and
       ``(IV) the location for the women's business center 
     proposed by the applicant, including whether the applicant is 
     located in a State in which there is not a women's business 
     center receiving funding from the Administration.

       ``(C) Proximity.--If the principal place of business of an 
     applicant for financial assistance under subsection (b) is 
     located less than 50 miles from the principal place of 
     business of a women's business center that received funds 
     under this section on or before the date of the application, 
     the applicant shall not be eligible for the financial 
     assistance, unless the applicant submits a detailed written 
     justification of the need for an additional center in the 
     area in which the applicant is located.
       ``(D) Record retention.--The Administrator shall maintain a 
     copy of each application submitted under this subsection for 
     not less than 7 years.''; and
       (6) in subsection (m)--
       (A) by striking paragraph (3) and inserting the following:
       ``(3) Application and approval for renewal grants.--
       ``(A) Solicitation of applications.--The Administrator 
     shall solicit applications and award grants under this 
     subsection for the first fiscal year beginning after the date 
     of enactment of the Women's Small Business Ownership Act of 
     2012, and every third fiscal year thereafter.
       ``(B) Contents of application.--Each eligible entity 
     desiring a grant under this subsection shall submit to the 
     Administrator an application that contains--
       ``(i) a certification that the applicant--

       ``(I) is an eligible entity;
       ``(II) has designated a full-time executive director or 
     program manager to manage the women's business center 
     operated by the applicant; and
       ``(III) as a condition of receiving a grant under this 
     subsection, agrees--

       ``(aa) to receive a site visit as part of the final 
     selection process;
       ``(bb) to submit, for the 2 full fiscal years before the 
     date on which the application is submitted, annual 
     programmatic and financial examination reports or certified 
     copies of the compliance supplemental audits under OMB 
     Circular A-133 of the applicant; and
       ``(cc) to remedy any problem identified pursuant to the 
     site visit or examination under item (aa) or (bb);
       ``(ii) information demonstrating that the applicant has the 
     ability and resources to meet the needs of the market to be 
     served by the women's business center for which a grant under 
     this subsection is sought, including the ability to obtain 
     the non-Federal contribution required under paragraph (4)(C);
       ``(iii) information relating to assistance to be provided 
     by the women's business center in the area served by the 
     women's business center for which a grant under this 
     subsection is sought;
       ``(iv) information demonstrating that the applicant has 
     worked with resource partners of the Administration and other 
     entities;
       ``(v) a 3-year plan that describes the ability of the 
     women's business center for which a grant under this 
     subsection is sought--

       ``(I) to serve women who are business owners or potential 
     business owners by conducting training and counseling 
     activities; and
       ``(II) to provide training and services to a representative 
     number of women who are socially and economically 
     disadvantaged; and

       ``(vi) any additional information that the Administrator 
     may reasonably require.
       ``(C) Review and approval of applications for grants.--
       ``(i) In general.--The Administrator shall--

       ``(I) review each application submitted under subparagraph 
     (B), based on the information described in such subparagraph 
     and the criteria set forth under clause (ii) of this 
     subparagraph; and
       ``(II) whenever practicable, as part of the final selection 
     process, conduct a site visit to each women's business center 
     for which a grant under this subsection is sought.

       ``(ii) Selection criteria.--

       ``(I) In general.--The Administrator shall evaluate 
     applicants for grants under this subsection in accordance 
     with selection criteria that are--

       ``(aa) established before the date on which applicants are 
     required to submit the applications;
       ``(bb) stated in terms of relative importance; and
       ``(cc) publicly available and stated in each solicitation 
     for applications for grants under this subsection made by the 
     Administrator.

       ``(II) Required criteria.--The selection criteria for a 
     grant under this subsection shall include--

       ``(aa) the total number of entrepreneurs served by the 
     applicant;
       ``(bb) the total number of new startup companies assisted 
     by the applicant;
       ``(cc) the percentage of clients of the applicant that are 
     socially or economically disadvantaged; and
       ``(dd) the percentage of individuals in the community 
     served by the applicant who are socially or economically 
     disadvantaged.
       ``(iii) Conditions for continued funding.--In determining 
     whether to make a grant under this subsection, the 
     Administrator--

       ``(I) shall consider the results of the most recent 
     evaluation of the women's business center for which a grant 
     under this subsection is sought, and, to a lesser extent, 
     previous evaluations; and
       ``(II) may withhold a grant under this subsection, if the 
     Administrator determines that the applicant has failed to 
     provide the information required to be provided under this 
     paragraph, or the information provided by the applicant is 
     inadequate.

       ``(D) Notification.--Not later than 60 days after the date 
     of each deadline to submit applications, the Administrator 
     shall approve or deny any application under this paragraph 
     and notify the applicant for each such application of the 
     approval or denial.
       ``(E) Record retention.--The Administrator shall maintain a 
     copy of each application submitted under this paragraph for 
     not less than 7 years.''; and
       (B) by striking paragraph (5) and inserting the following:
       ``(5) Award to previous recipients.--There shall be no 
     limitation on the number of times the Administrator may award 
     a grant to an applicant under this subsection.''.
       (b) Technical and Conforming Amendments.--
       (1) In general.--Section 29 of the Small Business Act (15 
     U.S.C. 656) is amended--
       (A) in subsection (h)(2), by striking ``to award a contract 
     (as a sustainability grant) under subsection (l) or'';
       (B) in subsection (j)(1), by striking ``The 
     Administration'' and inserting ``Not later

[[Page 11173]]

     than November 1 of each year, the Administrator'';
       (C) in subsection (k)--
       (i) by striking paragraphs (1), (2), and (4);
       (ii) by redesignating paragraph (3) as paragraph (4); and
       (iii) by inserting before paragraph (4), as so 
     redesignated, the following:
       ``(1) In general.--There are authorized to be appropriated 
     to the Administration to carry out this section, to remain 
     available until expended, $14,500,000 for each of fiscal 
     years 2013, 2014, and 2015.
       ``(2) Use of funds.--Amounts made available under this 
     subsection may only be used for grant awards and may not be 
     used for costs incurred by the Administration in connection 
     with the management and administration of the program under 
     this section.
       ``(3) Continuing grant and cooperative agreement 
     authority.--
       ``(A) Prompt disbursement.--Upon receiving funds to carry 
     out this section for a fiscal year, the Administrator shall, 
     to the extent practicable, promptly reimburse funds to any 
     women's business center awarded financial assistance under 
     this section if the center meets the eligibility requirements 
     under this section.
       ``(B) Suspension or termination.--If the Administrator has 
     entered into a grant or cooperative agreement with a women's 
     business center under this section, the Administrator may not 
     suspend or terminate the grant or cooperative agreement, 
     unless the Administrator--
       ``(i) provides the women's business center with written 
     notification setting forth the reasons for that action; and
       ``(ii) affords the women's business center an opportunity 
     for a hearing, appeal, or other administrative proceeding 
     under chapter 5 of title 5, United States Code.'';
       (D) in subsection (m)--
       (i) in paragraph (2), by striking ``subsection (b) or (l)'' 
     and inserting ``this subsection or subsection (b)''; and
       (ii) in paragraph (4)(D), by striking ``or subsection 
     (l)''; and
       (E) by redesignating subsections (m) and (n), as amended by 
     this division, as subsections (l) and (m), respectively.
       (2) Prospective repeal.--Section 1401(c)(2) of the Small 
     Business Jobs Act of 2010 (15 U.S.C. 636 note) is amended--
       (A) in subparagraph (A), by striking ``and'' at the end;
       (B) in subparagraph (B), by striking the period at the end 
     and inserting ``; and''; and
       (C) by adding at the end the following:
       ``(C) by redesignating paragraph (6), as added by section 
     424(a)(3)(E) of the Women's Small Business Ownership Act of 
     2012, as paragraph (5).''.
       (c) Effect on Existing Grants.--
       (1) Terms and conditions.--A nonprofit organization 
     receiving a grant under section 29(m) of the Small Business 
     Act (15 U.S.C. 656(m)), as in effect on the day before the 
     date of enactment of this Act, shall continue to receive the 
     grant under the terms and conditions in effect for the grant 
     on the day before the date of enactment of this Act, except 
     that the nonprofit organization may not apply for a renewal 
     of the grant under section 29(m)(5) of the Small Business Act 
     (15 U.S.C. 656(m)(5)), as in effect on the day before the 
     date of enactment of this Act.
       (2) Length of renewal grant.--The Administrator may award a 
     grant under section 29(l) of the Small Business Act, as so 
     redesignated by subsection (b)(1)(E) of this section, to a 
     nonprofit organization receiving a grant under section 29(m) 
     of the Small Business Act (15 U.S.C. 656(m)), as in effect on 
     the day before the date of enactment of this Act, for the 
     period--
       (A) beginning on the day after the last day of the grant 
     agreement under such section 29(m); and
       (B) ending at the end of the third fiscal year beginning 
     after the date of enactment of this Act.

     SEC. 425. STUDY AND REPORT ON ECONOMIC ISSUES FACING WOMEN'S 
                   BUSINESS CENTERS.

       (a) Study.--The Comptroller General of the United States 
     shall conduct a broad study of the unique economic issues 
     facing women's business centers located in covered areas to 
     identify--
       (1) the difficulties such centers face in raising non-
     Federal funds;
       (2) the difficulties such centers face in competing for 
     financial assistance, non-Federal funds, or other types of 
     assistance;
       (3) the difficulties such centers face in writing grant 
     proposals; and
       (4) other difficulties such centers face because of the 
     economy in the type of covered area in which such centers are 
     located.
       (b) Report.--Not later than 1 year after the date of 
     enactment of this Act, the Comptroller General shall submit 
     to Congress a report containing the results of the study 
     under subsection (a), which shall include recommendations, if 
     any, regarding how to--
       (1) address the unique difficulties women's business 
     centers located in covered areas face because of the type of 
     covered area in which such centers are located;
       (2) expand the presence of, and increase the services 
     provided by, women's business centers located in covered 
     areas; and
       (3) best use technology and other resources to better serve 
     women business owners located in covered areas.
       (c) Definition of Covered Area.--In this section, the term 
     ``covered area'' means--
       (1) any State that is predominantly rural, as determined by 
     the Administrator;
       (2) any State that is predominantly urban, as determined by 
     the Administrator; and
       (3) any State or territory that is an island.

     SEC. 426. STUDY AND REPORT ON OVERSIGHT OF WOMEN'S BUSINESS 
                   CENTERS.

       (a) Study.--The Comptroller General of the United States 
     shall conduct a study of the oversight of women's business 
     centers by the Administrator, which shall include--
       (1) an analysis of the coordination by the Administrator of 
     the activities of women's business centers with the 
     activities of small business development centers, the Service 
     Corps of Retired Executives, and Veterans Business Outreach 
     Centers;
       (2) a comparison of the types of individuals and small 
     business concerns served by women's business centers and the 
     types of individuals and small business concerns served by 
     small business development centers, the Service Corps of 
     Retired Executives, and Veterans Business Outreach Centers; 
     and
       (3) an analysis of performance data for women's business 
     centers that evaluates how well women's business centers are 
     carrying out the mission of women's business centers and 
     serving individuals and small business concerns.
       (b) Report.--Not later than 1 year after the date of 
     enactment of this Act, the Comptroller General shall submit 
     to Congress a report containing the results of the study 
     under subsection (a), which shall include recommendations, if 
     any, for eliminating the duplication of services provided by 
     women's business centers, small business development centers, 
     the Service Corps of Retired Executives, and Veterans 
     Business Outreach Centers.

 Subtitle C--Strengthening America's Small Business Development Centers

     SEC. 431. INSTITUTIONS OF HIGHER EDUCATION.

       Section 21 of the Small Business Act (15 U.S.C. 648) is 
     amended--
       (1) in subsection (a)(1), by striking ``: Provided, That'' 
     and all that follows through ``on such date.'' and inserting 
     the following: ``. On and after December 31, 2013, the 
     Administrator may only make a grant under this paragraph to 
     an applicant that is an institution of higher education, as 
     defined in section 101(a) of the Higher Education Act of 1965 
     (20 U.S.C. 1001(a)), that is accredited (and not merely in 
     preaccreditation status) by a nationally recognized 
     accrediting agency or association recognized by the Secretary 
     of Education for such purpose in accordance with section 496 
     of that Act (20 U.S.C. 1099b).''; and
       (2) in subsection (c)(3)(K), by inserting ``public and 
     private institutions of higher education (including 
     universities, community colleges, and junior colleges),'' 
     before ``local and regional private consultants''.

     SEC. 432. UPDATING FUNDING LEVELS FOR SMALL BUSINESS 
                   DEVELOPMENT CENTERS.

       (a) Minimum Funding Levels.--Section 21(a)(4)(C) of the 
     Small Business Act (15 U.S.C. 648(a)(4)(C)) is amended--
       (1) in clause (iii)--
       (A) by striking ``$90,000,000'' each place that term 
     appears and inserting ``$98,500,000'';
       (B) by striking ``$81,500,000'' each place that term 
     appears and inserting ``$90,000,000''; and
       (C) by striking ``$500,000'' each place that term appears 
     and inserting ``$600,000'';
       (2) in clause (v)(II), by striking ``if the usage'' and all 
     that follows through the end of the subclause and inserting a 
     period; and
       (3) in clause (v), by striking subclause (I) and inserting 
     the following:

       ``(I) In general.--Of the amounts made available in any 
     fiscal year to carry out this section--

       ``(aa) not more than $50,000 may be used by the 
     Administration to pay the expenses enumerated in subparagraph 
     (B) of section 20(a)(1);
       ``(bb) not more than $500,000 may be used by the 
     Administration to pay the expenses enumerated in subparagraph 
     (C) of section 20(a)(1); and
       ``(cc) not more than $250,000 may be used by the 
     Administration to pay the expenses enumerated in subparagraph 
     (D) of section 20(a)(1).''.
       (b) Authorization of Appropriations.--Section 
     21(a)(4)(C)(vii) of the Small Business Act (15 U.S.C. 
     648(a)(4)(C)(vii)) is amended to read as follows:
       ``(vii) Authorization of appropriations.--There are 
     authorized to be appropriated to carry out this 
     subparagraph--

       ``(I) $135,000,000 for fiscal year 2013;
       ``(II) $135,000,000 for fiscal year 2014; and
       ``(III) $135,000,000 for fiscal year 2015.''.

     SEC. 433. ASSISTANCE TO OUT-OF-STATE SMALL BUSINESSES.

       Section 21(b)(3) of the Small Business Act (15 U.S.C. 
     648(b)(3)) is amended--
       (1) by striking ``(3) At the discretion'' and inserting the 
     following:
       ``(3) Assistance to Out-of-state Small Businesses.--
       ``(A) In general.--At the discretion''; and
       (2) by adding at the end the following:
       ``(B) Disaster recovery assistance.--

[[Page 11174]]

       ``(i) In general.--At the discretion of the Administrator, 
     the Administrator may authorize a small business development 
     center to provide assistance, as described in subsection (c), 
     to small business concerns located outside of the State, 
     without regard to geographic proximity, if the small business 
     concerns are located in an area for which the President has 
     declared a major disaster under section 401 of the Robert T. 
     Stafford Disaster Relief and Emergency Assistance Act (42 
     U.S.C. 5170), during the period of the declaration.
       ``(ii) Continuity of services.--A small business 
     development center that provides counselors to an area 
     described in clause (i) shall, to the maximum extent 
     practicable, ensure continuity of services in any State in 
     which the small business development center otherwise 
     provides services.
       ``(iii) Access to disaster recovery facilities.--For 
     purposes of this subparagraph, the Administrator shall, to 
     the maximum extent practicable, permit the personnel of a 
     small business development center to use any site or facility 
     designated by the Administrator for use to provide disaster 
     recovery assistance.''.

     SEC. 434. TERMINATION OF SMALL BUSINESS DEVELOPMENT CENTER 
                   DEFENSE ECONOMIC TRANSITION ASSISTANCE.

       (a) In General.--Section 21(c)(3) of the Small Business Act 
     (15 U.S.C. 648(c)(3)) is amended--
       (1) by striking subparagraph (G); and
       (2) by redesignating subparagraphs (H) through (T) as 
     subparagraphs (G) through (S), respectively.
       (b) Technical and Conforming Amendments.--Section 21(a) of 
     the Small Business Act (15 U.S.C. 648(a)) is amended--
       (1) in paragraph (4)(C)(vi), by striking ``or (c)(3)(G)''; 
     and
       (2) in paragraph (6), by striking ``subparagraphs (B) 
     through (G) of subsection (c)(3)'' and inserting 
     ``subparagraphs (B) through (F) of subsection (c)(3)''.
       (c) Existing Grants.--Nothing in this section shall affect 
     any grant made to a small business development center before 
     the date of enactment of this Act under section 21(c)(3)(G) 
     of the Small Business Act (15 U.S.C. 648(c)(3)(G)), as in 
     effect on the day before the date of enactment of this Act, 
     and any such grant shall be subject to such section 
     21(c)(3)(G), as in effect on the day before the date of 
     enactment of this Act.

     SEC. 435. NATIONAL SMALL BUSINESS DEVELOPMENT CENTER ADVISORY 
                   BOARD.

       (a) In General.--Section 21(i)(1) of the Small Business Act 
     (15 U.S.C. 648(i)(1)) is amended--
       (1) in the first sentence, by striking ``nine members'' and 
     inserting ``10 members'';
       (2) in the second sentence, by striking ``six'' and 
     inserting ``the members who are not from universities or 
     their affiliates'';
       (3) by striking the third sentence; and
       (4) in the fourth sentence--
       (A) by striking ``Succeeding Boards'' and inserting ``The 
     members of the Board''; and
       (B) by inserting ``not less than'' before ``one-third''.
       (b) Incumbents.--An individual serving as a member of the 
     National Small Business Development Center Advisory Board on 
     the date of enactment of this Act may continue to serve on 
     the Board until the end of the term of the member under 
     section 21(i)(1) of the Small Business Act (15 U.S.C. 
     648(i)(1)), as in effect on the day before such date of 
     enactment.

     SEC. 436. REPEAL OF PAUL D. COVERDELL DRUG-FREE WORKPLACE 
                   PROGRAM.

       Section 27 of the Small Business Act (15 U.S.C. 654) is 
     repealed.

  Subtitle D--Terminating the National Veterans Business Development 
                              Corporation

     SEC. 441. NATIONAL VETERANS BUSINESS DEVELOPMENT CORPORATION.

       (a) In General.--The Small Business Act (15 U.S.C. 631 et 
     seq.) is amended by striking section 33 (15 U.S.C. 657c).
       (b) Corporation.--On and after the date of enactment of 
     this Act, the National Veterans Business Development 
     Corporation and any successor thereto may not represent that 
     the corporation is federally chartered or in any other manner 
     authorized by the Federal Government.
       (c) Technical and Conforming Amendments.--
       (1) Small business act.--The Small Business Act (15 U.S.C. 
     631 et seq.), as amended by this section, is amended--
       (A) by redesignating sections 34 through 45 as sections 33 
     through 44, respectively;
       (B) in section 9(k)(1)(D) (15 U.S.C. 638(k)(1)(D)), by 
     striking ``section 34(d)'' and inserting ``section 33(d)'';
       (C) in section 33 (15 U.S.C. 657d), as so redesignated--
       (i) by striking ``section 35'' each place it appears and 
     inserting ``section 34'';
       (ii) in subsection (a)--

       (I) in paragraph (2), by striking ``section 35(c)(2)(B)'' 
     and inserting ``section 34(c)(2)(B)'';
       (II) in paragraph (4), by striking ``section 35(c)(2)'' and 
     inserting ``section 34(c)(2)''; and
       (III) in paragraph (5), by striking ``section 35(c)'' and 
     inserting ``section 34(c)''; and

       (iii) in subsection (h)(2), by striking ``section 35(d)'' 
     and inserting ``section 34(d)'';
       (D) in section 34 (15 U.S.C. 657e), as so redesignated--
       (i) by striking ``section 34'' each place it appears and 
     inserting ``section 33''; and
       (ii) in subsection (c)(1), by striking section 
     ``34(c)(1)(E)(ii)'' and inserting section 
     ``33(c)(1)(E)(ii)'';
       (E) in section 36(d) (15 U.S.C. 657i(d)), as so 
     redesignated, by striking ``section 43'' and inserting 
     ``section 42'';
       (F) in section 39(d) (15 U.S.C. 657l(d)), as so 
     redesignated, by striking ``section 43'' and inserting 
     ``section 42''; and
       (G) in section 40(b) (15 U.S.C. 657m(b)), as so 
     redesignated, by striking ``section 43'' and inserting 
     ``section 42''.
       (2) Title 10.--Section 1142(b)(13) of title 10, United 
     States Code, is amended by striking ``and the National 
     Veterans Business Development Corporation''.
       (3) Title 38.--Section 3452(h) of title 38, United States 
     Code, is amended by striking ``any of the'' and all that 
     follows and inserting ``any small business development center 
     described in section 21 of the Small Business Act (15 U.S.C. 
     648), insofar as such center offers, sponsors, or cosponsors 
     an entrepreneurship course, as that term is defined in 
     section 3675(c)(2).''.
       (4) Food, conservation, and energy act of 2008.--Section 
     12072(c)(2) of the Food, Conservation, and Energy Act of 2008 
     (15 U.S.C. 636g(c)(2)) is amended by striking ``section 43 of 
     the Small Business Act, as added by this Act'' and inserting 
     ``section 42 of the Small Business Act (15 U.S.C. 657o)''.
       (5) Veterans entrepreneurship and small business 
     development act of 1999.--Section 203(c)(5) of the Veterans 
     Entrepreneurship and Small Business Development Act of 1999 
     (15 U.S.C. 657b note) is amended by striking ``In cooperation 
     with the National Veterans Business Development Corporation, 
     develop'' and inserting ``Develop''.

               TITLE V--ACCESS TO GOVERNMENT CONTRACTING

                           Subtitle A--Bonds

     SEC. 511. REMOVAL OF SUNSET DATES FOR CERTAIN PROVISIONS OF 
                   THE SMALL BUSINESS INVESTMENT ACT OF 1958.

       (a) Maximum Bond Amount.--Section 411(a)(1) of the Small 
     Business Investment Act of 1958 (15 U.S.C. 694b(a)(1)) is 
     amended by striking ``does not exceed'' and all that follows 
     and inserting ``does not exceed $5,000,000.''.
       (b) Denial of Liability.--Section 411(e)(2) of the Small 
     Business Investment Act of 1958 (15 U.S.C. 694b(e)(2)) is 
     amended by striking ``bonds exceeds'' and all that follows 
     and inserting ``bonds exceeds $5,000,000,''.

        Subtitle B--Small Business Contracting Fraud Prevention

     SEC. 521. SHORT TITLE.

       This subtitle may be cited as the ``Small Business 
     Contracting Fraud Prevention Act of 2012''.

     SEC. 522. DEFINITIONS.

       In this subtitle--
       (1) the term ``8(a) program'' means the program under 
     section 8(a) of the Small Business Act (15 U.S.C. 637(a));
       (2) the terms ``Administration'' and ``Administrator'' mean 
     the Small Business Administration and the Administrator 
     thereof, respectively;
       (3) the terms ``HUBZone'' and ``HUBZone small business 
     concern'' and ``HUBZone map'' have the meanings given those 
     terms in section 3(p) of the Small Business Act (15 U.S.C. 
     632(p)), as amended by this division; and
       (4) the term ``recertification'' means a determination by 
     the Administrator that a business concern that was previously 
     determined to be a qualified HUBZone small business concern 
     is a qualified HUBZone small business concern under section 
     3(p)(5) of the Small Business Act (15 U.S.C. 632(p)(5)).

     SEC. 523. FRAUD DETERRENCE AT THE SMALL BUSINESS 
                   ADMINISTRATION.

       Section 16 of the Small Business Act (15 U.S.C. 645) is 
     amended--
       (1) in subsection (d)--
       (A) in paragraph (1)--
       (i) in the matter preceding subparagraph (A), by striking 
     ``Whoever'' and all that follows through ``oneself or 
     another'' and inserting the following: ``A person shall be 
     subject to the penalties and remedies described in paragraph 
     (2) if the person misrepresents the status of any concern or 
     person as a small business concern, a qualified HUBZone small 
     business concern, a small business concern owned and 
     controlled by socially and economically disadvantaged 
     individuals, a small business concern owned and controlled by 
     women, or a small business concern owned and controlled by 
     service-disabled veterans, in order to obtain for any 
     person'';
       (ii) by amending subparagraph (A) to read as follows:
       ``(A) prime contract, subcontract, grant, or cooperative 
     agreement to be awarded under subsection (a) or (m) of 
     section 8, or section 9, 15, 31, or 35;'';
       (iii) by striking subparagraph (B);
       (iv) by redesignating subparagraphs (C) and (D) as 
     subparagraphs (B) and (C), respectively; and
       (v) in subparagraph (C), as so redesignated, by striking 
     ``, shall be'' and all that follows and inserting a period;
       (B) in paragraph (2)--

[[Page 11175]]

       (i) by redesignating subparagraphs (C) and (D) as 
     subparagraphs (D) and (E), respectively; and
       (ii) by inserting after subparagraph (B) the following:
       ``(C) be subject to the civil remedies under subchapter III 
     of chapter 37 of title 31, United States Code (commonly known 
     as the `False Claims Act');''; and
       (C) by adding at the end the following:
       ``(3)(A) In the case of a violation of paragraph (1)(A) or 
     subsection (g) or (h), for purposes of a proceeding described 
     in subparagraph (A) or (C) of paragraph (2), the amount of 
     the loss to the Federal Government or the damages sustained 
     by the Federal Government, as applicable, shall be an amount 
     equal to the amount that the Federal Government paid to the 
     person that received a contract, grant, or cooperative 
     agreement described in paragraph (1)(A), (g), or (h), 
     respectively.
       ``(B) In the case of a violation of subparagraph (B) or (C) 
     of paragraph (1), for the purpose of a proceeding described 
     in subparagraph (A) or (C) of paragraph (2), the amount of 
     the loss to the Federal Government or the damages sustained 
     by the Federal Government, as applicable, shall be an amount 
     equal to the portion of any payment by the Federal Government 
     under a prime contract that was used for a subcontract 
     described in subparagraph (B) or (C) of paragraph (1), 
     respectively.
       ``(C) In a proceeding described in subparagraph (A) or (B), 
     no credit shall be applied against any loss or damages to the 
     Federal Government for the fair market value of the property 
     or services provided to the Federal Government.'';
       (2) by striking subsection (e) and inserting the following:
       ``(e) Any representation of the status of any concern or 
     person as a small business concern, a HUBZone small business 
     concern, a small business concern owned and controlled by 
     socially and economically disadvantaged individuals, a small 
     business concern owned and controlled by women, or a small 
     business concern owned and controlled by service-disabled 
     veterans, in order to obtain any prime contract, subcontract, 
     grant, or cooperative agreement described in subsection 
     (d)(1) shall be made in writing or through the Online 
     Representations and Certifications Application process 
     required under section 4.1201 of the Federal Acquisition 
     Regulation, or any successor thereto.''; and
       (3) by adding at the end the following:
       ``(g) A person shall be subject to the penalties and 
     remedies described in subsection (d)(2) if the person 
     misrepresents the status of any concern or person as a small 
     business concern, a qualified HUBZone small business concern, 
     a small business concern owned and controlled by socially and 
     economically disadvantaged individuals, a small business 
     concern owned and controlled by women, or a small business 
     concern owned and controlled by service-disabled veterans--
       ``(1) in order to allow any person to participate in any 
     program of the Administration; or
       ``(2) in relation to a protest of a contract award or 
     proposed contract award made under regulations issued by the 
     Administration.
       ``(h)(1) A person that submits a request for payment on a 
     contract or subcontract that is awarded under subsection (a) 
     or (m) of section 8, or section 9, 15, 31, or 35, shall be 
     deemed to have submitted a certification that the person 
     complied with regulations issued by the Administration 
     governing the percentage of work that the person is required 
     to perform on the contract or subcontract, unless the person 
     states, in writing, that the person did not comply with the 
     regulations.
       ``(2) A person shall be subject to the penalties and 
     remedies described in subsection (d)(2) if the person--
       ``(A) uses the services of a business other than the 
     business awarded the contract or subcontract to perform a 
     greater percentage of work under a contract than is permitted 
     by regulations issued by the Administration; or
       ``(B) willfully participates in a scheme to circumvent 
     regulations issued by the Administration governing the 
     percentage of work that a contractor is required to perform 
     on a contract.''.

     SEC. 524. VETERANS INTEGRITY IN CONTRACTING.

       (a) Definition.--Section 3(q)(1) of the Small Business Act 
     (15 U.S.C. 632(q)(1)) is amended by striking ``means a 
     veteran'' and all that follows and inserting the following: 
     ``means--
       ``(A) a veteran with a service-connected disability rated 
     by the Secretary of Veterans Affairs as zero percent or more 
     disabling; or
       ``(B) a former member of the Armed Forces who is retired, 
     separated, or placed on the temporary disability retired list 
     for physical disability under chapter 61 of title 10, United 
     States Code.''.
       (b) Veterans Contracting.--Section 4 of the Small Business 
     Act (15 U.S.C. 633), as amended by this division, is amended 
     by adding at the end the following:
       ``(i) Veteran Status.--
       ``(1) In general.--A business concern seeking status as a 
     small business concern owned and controlled by service-
     disabled veterans shall--
       ``(A) submit an annual certification indicating that the 
     business concern is a small business concern owned and 
     controlled by service-disabled veterans by means of the 
     Online Representations and Certifications Application process 
     required under section 4.1201 of the Federal Acquisition 
     Regulation, or any successor thereto; and
       ``(B) register with--
       ``(i) the Central Contractor Registration database 
     maintained under subpart 4.11 of the Federal Acquisition 
     Regulation, or any successor thereto; and
       ``(ii) the VetBiz database of the Department of Veterans 
     Affairs, or any successor thereto.
       ``(2) Verification of status.--
       ``(A) Veterans affairs.--The Secretary of Veterans Affairs 
     shall determine whether a business concern registered with 
     the VetBiz database of the Department of Veterans Affairs, or 
     any successor thereto, as a small business concern owned and 
     controlled by veterans or a small business concern owned and 
     controlled by service-disabled veterans is owned and 
     controlled by a veteran or a service-disabled veteran, as the 
     case may be.
       ``(B) Federal agencies generally.--The head of each Federal 
     agency shall--
       ``(i) for a sole source contract awarded to a small 
     business concern owned and controlled by service-disabled 
     veterans or a contract awarded with competition restricted to 
     small business concerns owned and controlled by service-
     disabled veterans under section 35, determine whether a 
     business concern submitting a proposal for the contract is a 
     small business concern owned and controlled by service-
     disabled veterans; and
       ``(ii) use the VetBiz database of the Department of 
     Veterans Affairs, or any successor thereto, in determining 
     whether a business concern is a small business concern owned 
     and controlled by service-disabled veterans.
       ``(3) Debarment and suspension.--If the Administrator 
     determines that a business concern knowingly and willfully 
     misrepresented that the business concern is a small business 
     concern owned and controlled by service-disabled veterans, 
     the Administrator may debar or suspend the business concern 
     from contracting with the United States.''.
       (c) Integration of Databases.--The Administrator for 
     Federal Procurement Policy and the Secretary of Veterans 
     Affairs shall ensure that data is shared on an ongoing basis 
     between the VetBiz database of the Department of Veterans 
     Affairs and the Central Contractor Registration database 
     maintained under subpart 4.11 of the Federal Acquisition 
     Regulation.
       (d) Effective Date.--
       (1) In general.--The amendment made by subsection (b) and 
     the requirements under subsection (c) shall take effect on 
     the date on which the Secretary of Veterans Affairs (referred 
     to in this subsection as the ``Secretary'') publishes in the 
     Federal Register a determination that the Department of 
     Veterans Affairs has the necessary resources and capacity to 
     carry out the additional responsibility of determining 
     whether small business concerns registered with the VetBiz 
     database of the Department of Veterans Affairs are owned and 
     controlled by a veteran or a service-disabled veteran, as the 
     case may be, in accordance with subsection (i) of section 4 
     of the Small Business Act (15 U.S.C. 633), as added by 
     subsection (b).
       (2) Timeline.--If the Secretary determines that the 
     Secretary is not able to publish the determination under 
     paragraph (1) before the date that is 1 year after the date 
     of enactment of this Act, the Secretary shall, not later than 
     1 year after the date of enactment of this Act, submit a 
     report containing an estimate of the date on which the 
     Secretary will publish the determination under paragraph (1) 
     to the Committee on Small Business and Entrepreneurship and 
     the Committee on Veterans' Affairs of the Senate and the 
     Committee on Small Business and the Committee on Veterans' 
     Affairs of the House of Representatives.

     SEC. 525. SECTION 8(A) PROGRAM IMPROVEMENTS.

       (a) Review of Effectiveness.--Section 8(a) of the Small 
     Business Act (15 U.S.C. 637(a)) is amended by adding at the 
     end the following:
       ``(22) Not later than 3 years after the date of enactment 
     of this paragraph, and every 3 years thereafter, the 
     Comptroller General of the United States shall--
       ``(A) conduct an evaluation of the effectiveness of the 
     program under this subsection, including an examination of--
       ``(i) the number and size of contracts applied for, as 
     compared to the number received by, small business concerns 
     after successfully completing the program;
       ``(ii) the percentage of small business concerns that 
     continue to operate during the 3-year period beginning on the 
     date on which the small business concerns successfully 
     complete the program;
       ``(iii) whether the business of small business concerns 
     increases during the 3-year period beginning on the date on 
     which the small business concerns successfully complete the 
     program; and
       ``(iv) the number of training sessions offered under the 
     program; and
       ``(B) submit to the Committee on Small Business and 
     Entrepreneurship of the Senate

[[Page 11176]]

     and the Committee on Small Business of the House of 
     Representatives a report regarding each evaluation under 
     subparagraph (A).''.
       (b) Other Improvements.--In order to improve the 8(a) 
     program, the Administrator shall--
       (1) not later than 90 days after the date of enactment of 
     this Act, begin to--
       (A) evaluate the feasibility of--
       (i) using additional third-party data sources;
       (ii) making unannounced visits of sites that are selected 
     randomly or using risk-based criteria;
       (iii) using fraud detection tools, including data-mining 
     techniques; and
       (iv) conducting financial and analytical training for the 
     business opportunity specialists of the Administration;
       (B) evaluate the feasibility and advisability of amending 
     regulations applicable to the 8(a) program to require that 
     calculations of the adjusted net worth or total assets of an 
     individual include assets held by the spouse of the 
     individual; and
       (C) develop a more consistent enforcement strategy that 
     includes the suspension or debarment of contractors that 
     knowingly make misrepresentations in order to qualify for the 
     8(a) program; and
       (2) not later than 1 year after the date on which the 
     Comptroller General submits the report under section 
     8(a)(22)(B) of the Small Business Act, as added by subsection 
     (c), issue, in final form, proposed regulations of the 
     Administration that--
       (A) determine the economic disadvantage of a participant in 
     the 8(a) program based on the income and asset levels of the 
     participant at the time of application and annual 
     recertification for the 8(a) program; and
       (B) limit the ability of a small business concern to 
     participate in the 8(a) program if an immediate family member 
     of an owner of the small business concern is, or has been, a 
     participant in the 8(a) program, in the same industry.

     SEC. 526. HUBZONE IMPROVEMENTS.

       (a) Purpose.--The purpose of this section is to reform and 
     improve the HUBZone program of the Administration.
       (b) In General.--The Administrator shall--
       (1) ensure the HUBZone map is--
       (A) accurate and up-to-date; and
       (B) revised as new data is made available to maintain the 
     accuracy and currency of the HUBZone map;
       (2) implement policies for ensuring that only HUBZone small 
     business concerns determined to be qualified under section 
     3(p)(5) of the Small Business Act (15 U.S.C. 632(p)(5)) are 
     participating in the HUBZone program, including through the 
     appropriate use of technology to control costs and maximize, 
     among other benefits, uniformity, completeness, simplicity, 
     and efficiency;
       (3) 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 
     any application to be designated as a HUBZone small business 
     concern or for recertification for which the Administrator 
     has not made a determination as of the date that is 60 days 
     after the date on which the application was submitted or 
     initiated, which shall include a plan and timetable for 
     ensuring the timely processing of the applications; and
       (4) develop measures and implement plans to assess the 
     effectiveness of the HUBZone program that--
       (A) require the identification of a baseline point in time 
     to allow the assessment of economic development under the 
     HUBZone program, including creating additional jobs; and
       (B) take into account--
       (i) the economic characteristics of the HUBZone; and
       (ii) contracts being counted under multiple socioeconomic 
     subcategories.
       (c) Employment Percentage.--Section 3(p) of the Small 
     Business Act (15 U.S.C. 632(p)) is amended--
       (1) in paragraph (5), by adding at the end the following:
       ``(E) Employment percentage during interim period.--
       ``(i) Definition.--In this subparagraph, the term `interim 
     period' means the period beginning on the date on which the 
     Administrator determines that a HUBZone small business 
     concern is qualified under subparagraph (A) and ending on the 
     day before the date on which a contract under the HUBZone 
     program for which the HUBZone small business concern submits 
     a bid is awarded.
       ``(ii) Interim period.--During the interim period, the 
     Administrator may not determine that the HUBZone small 
     business is not qualified under subparagraph (A) based on a 
     failure to meet the applicable employment percentage under 
     subparagraph (A)(i)(I), unless the HUBZone small business 
     concern--

       ``(I) has not attempted to maintain the applicable 
     employment percentage under subparagraph (A)(i)(I); or
       ``(II) does not meet the applicable employment percentage--

       ``(aa) on the date on which the HUBZone small business 
     concern submits a bid for a contract under the HUBZone 
     program; or
       ``(bb) on the date on which the HUBZone small business 
     concern is awarded a contract under the HUBZone program.''; 
     and
       (2) by adding at the end the following:
       ``(8) Hubzone program.--The term `HUBZone program' means 
     the program established under section 31.
       ``(9) Hubzone map.--The term `HUBZone map' means the map 
     used by the Administration to identify HUBZones.''.
       (d) Redesignated Areas.--Section 3(p)(4)(C)(i) of the Small 
     Business Act (15 U.S.C. 632(p)(4)(C)(i)) is amended to read 
     as follows:
       ``(i) 3 years after the first date on which the 
     Administrator publishes a HUBZone map that is based on the 
     results from the 2010 decennial census; or''.

     SEC. 527. ANNUAL REPORT ON SUSPENSION, DEBARMENT, AND 
                   PROSECUTION.

       The Administrator shall submit an annual report to the 
     Committee on Small Business and Entrepreneurship of the 
     Senate and the Committee on Small Business of the House of 
     Representatives that contains--
       (1) the number of debarments from participation in programs 
     of the Administration issued by the Administrator during the 
     1-year period preceding the date of the report, including--
       (A) the number of debarments that were based on a 
     conviction; and
       (B) the number of debarments that were fact-based and did 
     not involve a conviction;
       (2) the number of suspensions from participation in 
     programs of the Administration issued by the Administrator 
     during the 1-year period preceding the date of the report, 
     including--
       (A) the number of suspensions issued that were based upon 
     indictments; and
       (B) the number of suspensions issued that were fact-based 
     and did not involve an indictment;
       (3) the number of suspension and debarments issued by the 
     Administrator during the 1-year period preceding the date of 
     the report that were based upon referrals from offices of the 
     Administration, other than the Office of Inspector General;
       (4) the number of suspension and debarments issued by the 
     Administrator during the 1-year period preceding the date of 
     the report based upon referrals from the Office of Inspector 
     General; and
       (5) the number of persons that the Administrator declined 
     to debar or suspend after a referral described in paragraph 
     (8), and the reason for each such decision.

     Subtitle C--Fairness in Women-Owned Small Business Contracting

     SEC. 531. SHORT TITLE.

       This subtitle may be cited as the ``Fairness in Women-Owned 
     Small Business Contracting Act of 2012''.

     SEC. 532. PROCUREMENT PROGRAM FOR WOMEN-OWNED SMALL BUSINESS 
                   CONCERNS.

       Section 8(m) of the Small Business Act (15 U.S.C. 637(m)) 
     is amended--
       (1) in paragraph (2)--
       (A) in subparagraph (A), by striking ``who are economically 
     disadvantaged'';
       (B) in subparagraph (C), by striking ``paragraph (3)'' and 
     inserting ``paragraph (4)'';
       (C) by striking subparagraph (D); and
       (D) by redesignating subparagraphs (E) and (F) as 
     subparagraphs (D) and (E), respectively; and
       (2) by adding at the end the following:
       ``(7) Sole source contracts.--A contracting officer may 
     award a sole source contract under this subsection to a small 
     business concern owned and controlled by women under the same 
     conditions as a sole source contract may be awarded to a 
     qualified HUBZone small business concern under section 
     31(b)(2)(A).''.

     SEC. 533. STUDY AND REPORT ON REPRESENTATION OF WOMEN.

       Section 29 of the Small Business Act (15 U.S.C. 656), as 
     amended by section 424 of this division, is amended by adding 
     at the end the following:
       ``(n) Study and Report on Representation of Women.--
       ``(1) Study.--The Administrator shall periodically conduct 
     a study to identify any United States industry, as defined 
     under the North American Industry Classification System, in 
     which women are underrepresented.
       ``(2) Report.--Not later than 5 years after the date of 
     enactment of this subsection, and every 5 years thereafter, 
     the 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 results of each study under paragraph (1) conducted 
     during the 5-year period ending on the date of the report.''.

                  Subtitle D--Small Business Champion

     SEC. 541. SHORT TITLE.

       This subtitle may be cited as the ``Small Business Champion 
     Act of 2012''.

     SEC. 542. OFFICES OF SMALL AND DISADVANTAGED BUSINESS 
                   UTILIZATION.

       (a) Appointment and Position of Director.--Section 15(k)(2) 
     of the Small Business Act (15 U.S.C. 644(k)(2)) is amended by 
     striking ``such agency,'' and inserting ``such agency to a 
     position that is a Senior Executive Service position (as such 
     term is defined under section 3132(a) of title 5, United 
     States Code), except that, for any agency in which the 
     positions of Chief Acquisition Officer and senior procurement 
     executive (as such terms are defined under section 43(a) of 
     this Act) are not Senior Executive Service positions,

[[Page 11177]]

     the Director of Small and Disadvantaged Business Utilization 
     may be appointed to a position compensated at not less than 
     the minimum rate of basic pay payable for grade GS-15 of the 
     General Schedule under section 5332 of such title (including 
     comparability payments under section 5304 of such title);''.
       (b) Performance Appraisals.--Section 15(k)(3) of the Small 
     Business Act (15 U.S.C. 644(k)(3)) is amended--
       (1) by striking ``be responsible only to, and report 
     directly to, the head'' and inserting ``shall be responsible 
     only to (including with respect to performance appraisals), 
     and report directly and exclusively to, the head''; and
       (2) by striking ``be responsible only to, and report 
     directly to, such Secretary'' and inserting ``be responsible 
     only to (including with respect to performance appraisals), 
     and report directly and exclusively to, such Secretary''.
       (c) Small Business Technical Advisers.--Section 15(k)(8)(B) 
     of the Small Business Act (15 U.S.C. 644(k)(8)(B)) is amended 
     by striking ``and 15 of this Act,'' and inserting ``, 15, and 
     43 of this Act;''.
       (d) Additional Requirements.--Section 15(k) of the Small 
     Business Act (15 U.S.C. 644(k)) is amended by inserting after 
     paragraph (10) the following:
       ``(11) shall review and advise such agency on any decision 
     to convert an activity performed by a small business concern 
     to an activity performed by a Federal employee;
       ``(12) shall provide to the Chief Acquisition Officer and 
     senior procurement executive of such agency advice and 
     comments on acquisition strategies, market research, and 
     justifications related to section 43 of this Act;
       ``(13) may provide training to small business concerns and 
     contract specialists, except that such training may only be 
     provided to the extent that the training does not interfere 
     with the Director carrying out other responsibilities under 
     this subsection;
       ``(14) shall carry out exclusively the duties enumerated in 
     this Act, and shall, while the Director, not hold any other 
     title, position, or responsibility, except as necessary to 
     carry out responsibilities under this subsection;
       ``(15) shall submit, each fiscal year, to the Committee on 
     Small Business of the House of Representatives and the 
     Committee on Small Business and Entrepreneurship of the 
     Senate a report describing--
       ``(A) the training provided by the Director under paragraph 
     (13) in the most recently completed fiscal year;
       ``(B) the percentage of the budget of the Director used for 
     such training in the most recently completed fiscal year; and
       ``(C) the percentage of the budget of the Director used for 
     travel in the most recently completed fiscal year; and
       ``(16) shall have not less than 10 years of relevant 
     procurement experience.''.
       (e) Technical Amendments.--Section 15(k) of the Small 
     Business Act (15 U.S.C. 644(k)), as amended by subsection 
     (d), is further amended--
       (1) in the matter preceding paragraph (1) by striking ``who 
     shall'' and inserting ``who'';
       (2) in paragraph (1)--
       (A) by striking ``be known'' and inserting ``shall be 
     known''; and
       (B) by striking ``such agency,'' and inserting ``such 
     agency;'';
       (3) in paragraph (2) by striking ``be appointed by'' and 
     inserting ``shall be appointed by'';
       (4) in paragraph (3)--
       (A) by striking ``director'' and inserting ``Director''; 
     and
       (B) by striking ``Secretary's designee,'' and inserting 
     ``Secretary's designee;'';
       (5) in paragraph (4)--
       (A) by striking ``be responsible'' and inserting ``shall be 
     responsible''; and
       (B) by striking ``such agency,'' and inserting ``such 
     agency;'';
       (6) in paragraph (5) by striking ``identify proposed'' and 
     inserting ``shall identify proposed'';
       (7) in paragraph (6) by striking ``assist small'' and 
     inserting ``shall assist small'';
       (8) in paragraph (7)--
       (A) by striking ``have supervisory'' and inserting ``shall 
     have supervisory''; and
       (B) by striking ``this Act,'' and inserting ``this Act;'';
       (9) in paragraph (8)--
       (A) by striking ``assign a'' and inserting ``shall assign 
     a''; and
       (B) by striking ``the activity, and'' and inserting ``the 
     activity; and'';
       (10) in paragraph (9)--
       (A) by striking ``cooperate, and'' and inserting ``shall 
     cooperate, and''; and
       (B) by striking ``subsection, and'' and inserting 
     ``subsection;''; and
       (11) in paragraph (10)--
       (A) by striking ``make recommendations'' and inserting 
     ``shall make recommendations'';
       (B) by striking ``subsection (a), or section'' and 
     inserting ``subsection (a), section'';
       (C) by striking ``Act or section 2323'' and inserting 
     ``Act, or section 2323'';
       (D) by striking ``Code. Such recommendations shall'' and 
     inserting ``Code, which shall''; and
       (E) by striking ``contract file.'' and inserting ``contract 
     file;''.

     SEC. 543. SMALL BUSINESS PROCUREMENT ADVISORY COUNCIL.

       (a) Duties.--Section 7104(b) of the Federal Acquisition 
     Streamlining Act of 1994 (15 U.S.C. 644 note) is amended--
       (1) in paragraph (1) by striking ``and'' at the end;
       (2) in paragraph (2) by striking ``authorities.'' and 
     inserting ``authorities;''; and
       (3) by adding at the end the following:
       ``(3) to conduct reviews of each Office of Small and 
     Disadvantaged Business Utilization established under section 
     15(k) of the Small Business Act (15 U.S.C. 644(k)) to 
     determine the compliance of each Office with requirements 
     under such section;
       ``(4) to identify best practices for maximizing small 
     business utilization in Federal contracting that may be 
     implemented by Federal agencies having procurement powers; 
     and
       ``(5) to submit, annually, to the Committee on Small 
     Business of the House of Representatives and the Committee on 
     Small Business and Entrepreneurship of the Senate a report 
     describing--
       ``(A) the comments submitted under paragraph (2) during the 
     1-year period ending on the date on which the report is 
     submitted, including any outcomes related to the comments;
       ``(B) the results of reviews conducted under paragraph (3) 
     during such 1-year period; and
       ``(C) best practices identified under paragraph (4) during 
     such 1-year period.''.
       (b) Membership.--Section 7104(c) of the Federal Acquisition 
     Streamlining Act of 1994 (15 U.S.C. 644 note) is amended by 
     striking ``(established under section 15(k) of the Small 
     Business Act (15 U.S.C. 644(k))''.
       (c) Chairman.--Section 7104(d) of the Federal Acquisition 
     Streamlining Act of 1994 (15 U.S.C. 644 note) is amended by 
     inserting after ``Small Business Administration'' the 
     following: ``(or the designee of the Administrator)''.

       TITLE VI--TRANSPARENCY, ACCOUNTABILITY, AND EFFECTIVENESS

             Subtitle A--Small Business Common Application

     SEC. 611. DEFINITIONS.

       In this subtitle--
       (1) the terms ``Administration'' and ``Administrator'' mean 
     the Small Business Administration and the Administrator 
     thereof, respectively;
       (2) the term ``Executive agency'' has the meaning given 
     that term under section 105 of title 5, United States Code;
       (3) the term ``Executive Committee'' means the Executive 
     Committee on a Small Business Common Application established 
     under section 613(a);
       (4) the term ``small business concern'' has the meaning 
     given that term under section 3 of the Small Business Act (15 
     U.S.C. 632);

     SEC. 612. SENSE OF CONGRESS.

       It is the sense of Congress that Executive agencies 
     should--
       (1) reduce paperwork burdens on small business concerns 
     pursuant to section 3501 of title 44, United States Code;
       (2) maximize the ability of small business concerns to use 
     common applications, where practicable, and use consolidated 
     web portals to interact with Executive agencies;
       (3) maintain high standards for data privacy and security;
       (4) increase the degree and ease of information sharing and 
     coordination among programs serving small business concerns 
     that are carried out by Executive agencies, including State 
     and local offices of Executive agencies; and
       (5) minimize redundancy in the administration of programs 
     that can utilize common applications, where practicable, and 
     consolidated web portals.

     SEC. 613. EXECUTIVE COMMITTEE ON A SMALL BUSINESS COMMON 
                   APPLICATION.

       (a) Establishment.--There is established in the 
     Administration an Executive Committee on a Small Business 
     Common Application, which shall make recommendations 
     regarding the establishment, if practicable, of a small 
     business common application and web portal.
       (b) Membership.--
       (1) In general.--The members of the Executive Committee 
     shall consist of--
       (A) the Administrator;
       (B) the Assistant Secretary of Commerce for Economic 
     Development; and
       (C) 1 senior officer or employee having policy and 
     technical expertise appointed by each of--
       (i) the Administrator of the General Services 
     Administration;
       (ii) the Director of the National Institutes of Health;
       (iii) the Director of the National Science Foundation;
       (iv) the President of the Export-Import Bank;
       (v) the Secretary of Agriculture;
       (vi) the Secretary of Defense;
       (vii) the Secretary of Health and Human Services;
       (viii) the Secretary of Labor;
       (ix) the Secretary of State;
       (x) the Secretary of the Treasury; and
       (xi) the Secretary of Veterans Affairs.
       (2) Chairperson.--The Administrator shall serve as 
     chairperson of the Executive Committee.

[[Page 11178]]

       (3) Period of appointment.--Members of the Executive 
     Committee shall be appointed for a term of 1 year.
       (4) Vacancies.--A vacancy in the Executive Committee shall 
     be filled in the same manner as the original appointment, not 
     later than 30 days after the date on which the vacancy 
     occurs.
       (c) Meetings.--
       (1) In general.--The Executive Committee shall meet at the 
     call of the chairperson of the Executive Committee.
       (2) Quorum.--A majority of the members of the Executive 
     Committee shall constitute a quorum.
       (3) First meeting.--The first meeting of the Executive 
     Committee shall take place not later than 30 days after the 
     date of enactment of this subtitle.
       (4) Public meeting.--The Executive Committee shall hold at 
     least 1 public meeting before the date described in 
     subsection (d)(1) to receive comments from small business 
     concerns and other interested parties.
       (d) Duties.--
       (1) Recommendations.--Not later than 270 days after the 
     date of enactment of this Act, upon a vote of the majority of 
     members of the Executive Committee then serving, the 
     Executive Committee shall submit to the Administrator 
     recommendations relating to the feasibility of establishing a 
     small business common application and web portal in order to 
     meet the goals described in section 612.
       (2) Transmission to executive agencies.--The Executive 
     Committee shall transmit to each Executive agency a complete 
     copy of the recommendations submitted under paragraph (1).
       (3) Transmission to congress.--The Executive Committee 
     shall transmit to each relevant committee of Congress a 
     complete copy of the recommendations submitted under 
     paragraph (1).
       (4) Recommendations by executive agencies.--Not later than 
     30 days after the date on which the Executive Committee 
     transmits recommendations to the Executive agency under 
     paragraph (2), each Executive agency that provides Federal 
     assistance to small business concerns shall submit to 
     Congress recommendations, if any, for legislative changes 
     necessary for the Executive agency to carry out the 
     recommendations under paragraph (1).
       (e) Personnel Matters.--
       (1) Compensation of members.--The members of the Executive 
     Committee shall serve without compensation in addition to 
     that received for their services as officers or employees of 
     the United States.
       (2) Detail of employees.--The Administrator may detail to 
     the Executive Committee any employee of the Economic 
     Development Administration, and such detail shall be without 
     interruption or loss of civil service status or privilege.
       (f) Federal Advisory Committee Act.--Section 14 of the 
     Federal Advisory Committee Act (5 U.S.C. App.) shall not 
     apply with respect to the Executive Committee.

     SEC. 614. AUTHORIZATION OF APPROPRIATIONS.

       There are authorized to be appropriated to the 
     Administrator such sums as may be necessary to carry out this 
     subtitle.

          Subtitle B--Government Accountability Office Review

     SEC. 621. GOVERNMENT ACCOUNTABILITY OFFICE REVIEW.

       Not later than 2 years after the date of enactment of this 
     Act, the Comptroller General of the United States shall 
     submit a report to the Committee on Small Business and 
     Entrepreneurship of the Senate and the Committee on Small 
     Business of the House of Representatives that evaluates the 
     status of the programs authorized under this division and the 
     amendments made by this division, including the extent to 
     which such programs have been funded and implemented and have 
     contributed to promoting job creation among small business 
     concerns.
                                 ______
                                 
  SA 2522. Mr. REID proposed an amendment to amendment SA 2521 proposed 
by Mr. Reid (for Ms. Landrieu) to the bill S. 2237, to provide a 
temporary income tax credit for increased payroll and extend bonus 
depreciation for an additional year, and for other purposes; as 
follows:

       At the end, add the following new section:

     SEC. ___.

       This Act shall become effective 7 days after enactment.
                                 ______
                                 
  SA 2523. Mr. REID proposed an amendment to amendment SA 2522 proposed 
by Mr. Reid to the amendment SA 2521 proposed by Mr. Reid (for Ms. 
Landrieu) to the bill S. 2237, to provide a temporary income tax credit 
for increased payroll and extend bonus depreciation for an additional 
year, and for other purposes; as follows:

       In the amendment, strike ``7 days'' and insert ``6 days''.
                                 ______
                                 
  SA 2524. Mr. REID proposed an amendment to the bill S. 2237, to 
provide a temporary income tax credit for increased payroll and extend 
bonus depreciation for an additional year, and for other purposes; as 
follows:

       Strike all after the first word and insert the following:

     1. SHORT TITLE.

       This Act may be cited as the ``Small Business Tax Cut 
     Act''.

     SEC. 2. DEDUCTION FOR DOMESTIC BUSINESS INCOME OF QUALIFIED 
                   SMALL BUSINESSES.

       (a) In General.--Part VI of subchapter B of chapter 1 of 
     the Internal Revenue Code of 1986 is amended by adding at the 
     end the following new section:

     ``SEC. 200. DOMESTIC BUSINESS INCOME OF QUALIFIED SMALL 
                   BUSINESSES.

       ``(a) Allowance of Deduction.--In the case of a qualified 
     small business, there shall be allowed as a deduction an 
     amount equal to 20 percent of the lesser of--
       ``(1) the qualified domestic business income of the 
     taxpayer for the taxable year, or
       ``(2) taxable income (determined without regard to this 
     section) for the taxable year.
       ``(b) Deduction Limited Based on Wages Paid.--
       ``(1) In general.--The amount of the deduction allowable 
     under subsection (a) for any taxable year shall not exceed 50 
     percent of the greater of--
       ``(A) the W-2 wages of the taxpayer paid to non-owners, or
       ``(B) the sum of--
       ``(i) the W-2 wages of the taxpayer paid to individuals who 
     are non-owner family members of direct owners, plus
       ``(ii) any W-2 wages of the taxpayer paid to 10-percent-or-
     less direct owners.
       ``(2) Definitions related to ownership.--For purposes of 
     this section--
       ``(A) Non-owner.--The term `non-owner' means, with respect 
     to any qualified small business, any person who does not own 
     (and is not considered as owning within the meaning of 
     subsection (c) or (e)(3) of section 267, as the case may be) 
     any stock of such business (or, if such business is other 
     than a corporation, any capital or profits interest of such 
     business).
       ``(B) Non-owner family members.--An individual is a non-
     owner family member of a direct owner if--
       ``(i) such individual is family (within the meaning of 
     section 267(c)(4)) of a direct owner, and
       ``(ii) such individual would be a non-owner if subsections 
     (c) and (e)(3) of section 267 were applied without regard to 
     section 267(c)(2).
       ``(C) Direct owner.--The term `direct owner' means, with 
     respect to any qualified small business, any person who owns 
     (or is considered as owning under the applicable non-family 
     attribution rules) any stock of such business (or, if such 
     business is other than a corporation, any capital or profits 
     interest of such business).
       ``(D) 10-percent-or-less direct owners.--The term `10-
     percent-or-less direct owner' means, with respect to any 
     qualified small business, any direct owner of such business 
     who owns (or is considered as owning under the applicable 
     non-family attribution rules)--
       ``(i) in the case of a qualified small business which is a 
     corporation, not more than 10 percent of the outstanding 
     stock of the corporation or stock possessing more than 10 
     percent of the total combined voting power of all stock of 
     the corporation, or
       ``(ii) in the case of a qualified small business which is 
     not a corporation, not more than 10 percent of the capital or 
     profits interest of such business.
       ``(E) Applicable non-family attribution rules.--The term 
     `applicable non-family attribution rules' means the 
     attribution rules of subsection (c) or (e)(3) of section 267, 
     as the case may be, but in each case applied without regard 
     to section 267(c)(2).
       ``(3) W-2 wages.--For purposes of this section--
       ``(A) In general.--The term `W-2 wages' means, with respect 
     to any person for any taxable year of such person, the sum of 
     the amounts described in paragraphs (3) and (8) of section 
     6051(a) paid by such person with respect to employment of 
     employees by such person during the calendar year ending 
     during such taxable year.
       ``(B) Limitation to wages attributable to qualified 
     domestic business income.--Such term shall not include any 
     amount which is not properly allocable to domestic business 
     gross receipts for purposes of subsection (c)(1).
       ``(C) Other requirements.--Except in the case of amounts 
     treated as W-2 wages under paragraph (4)--
       ``(i) such term shall not include any amount which is not 
     allowed as a deduction under section 162 for the taxable 
     year, and
       ``(ii) such term shall not include any amount which is not 
     properly included in a return filed with the Social Security 
     Administration on or before the 60th day after the due date 
     (including extensions) for such return.
       ``(4) Certain partnership distributions treated as w-2 
     wages.--
       ``(A) In general.--In the case of a qualified small 
     business which is a partnership and elects the application of 
     this paragraph for the taxable year--
       ``(i) the qualified domestic business taxable income of 
     such partnership for such taxable

[[Page 11179]]

     year (determined after the application of clause (ii)) which 
     is allocable under rules similar to the rules of section 
     199(d)(1)(A)(ii) to each qualified service-providing partner 
     shall be treated for purposes of this section as W-2 wages 
     paid during such taxable year to such partner as an employee, 
     and
       ``(ii) the domestic business gross receipts of such 
     partnership for such taxable year shall be reduced by the 
     amount so treated.
       ``(B) Qualified service-providing partner.--For purposes of 
     this paragraph, the term `qualified service-providing 
     partner' means, with respect to any qualified domestic 
     business taxable income, any partner who is a 10-percent-or-
     less direct owner and who materially participates in the 
     trade or business to which such income relates.
       ``(5) Acquisitions and dispositions.--The Secretary shall 
     provide for the application of this subsection in cases where 
     the taxpayer acquires, or disposes of, the major portion of a 
     trade or business or the major portion of a separate unit of 
     a trade or business during the taxable year.
       ``(c) Qualified Domestic Business Income.--For purposes of 
     this section--
       ``(1) In general.--The term `qualified domestic business 
     income' for any taxable year means an amount equal to the 
     excess (if any) of--
       ``(A) the taxpayer's domestic business gross receipts for 
     such taxable year, over
       ``(B) the sum of--
       ``(i) the cost of goods sold that are allocable to such 
     receipts, and
       ``(ii) other expenses, losses, or deductions (other than 
     the deduction allowed under this section), which are properly 
     allocable to such receipts.
       ``(2) Domestic business gross receipts.--
       ``(A) In general.--The term `domestic business gross 
     receipts' means the gross receipts of the taxpayer which are 
     effectively connected with the conduct of a trade or business 
     within the United States within the meaning of section 864(c) 
     but determined--
       ``(i) without regard to paragraphs (3), (4), and (5) 
     thereof, and
       ``(ii) by substituting `qualified small business (within 
     the meaning of section 200)' for `nonresident alien 
     individual or a foreign corporation' each place it appears 
     therein.
       ``(B) Exceptions.--For purposes of paragraph (1), domestic 
     business gross receipts shall not include any of the 
     following:
       ``(i) Gross receipts derived from the sale or exchange of--

       ``(I) a capital asset, or
       ``(II) property used in the trade or business (as defined 
     in section 1231(b)).

       ``(ii) Royalties, rents, dividends, interest, or annuities.
       ``(iii) Any amount which constitutes wages (as defined in 
     section 3401).
       ``(3) Application of certain rules.--Rules similar to the 
     rules of paragraphs (2) and (3) of section 199(c) shall apply 
     for purposes of this section (applied with respect to 
     qualified domestic business income in lieu of qualified 
     production activities income and with respect to domestic 
     business gross receipts in lieu of domestic production gross 
     receipts).
       ``(d) Qualified Small Business.--For purposes of this 
     section--
       ``(1) In general.--The term `qualified small business' 
     means any employer engaged in a trade or business if such 
     employer had fewer than 500 full-time equivalent employees 
     for either calendar year 2010 or 2011.
       ``(2) Full-time equivalent employees.--The term `full-time 
     equivalent employees' has the meaning given such term by 
     subsection (d)(2) of section 45R applied--
       ``(A) without regard to subsection (d)(5) of such section,
       ``(B) with regard to subsection (e)(1) of such section, and
       ``(C) by substituting `calendar year' for `taxable year' 
     each place it appears therein.
       ``(3) Employers not in existence prior to 2012.--In the 
     case of an employer which was not in existence on January 1, 
     2012, the determination under paragraph (1) shall be made 
     with respect to calendar year 2012.
       ``(4) Application to calendar years in which employer in 
     existence for portion of calendar year.--In the case of any 
     calendar year during which the employer comes into existence, 
     the number of full-time equivalent employees determined under 
     paragraph (2) with respect to such calendar year shall be 
     increased by multiplying the number so determined (without 
     regard to this paragraph) by the quotient obtained by 
     dividing--
       ``(A) the number of days in such calendar year, by
       ``(B) the number of days during such calendar year which 
     such employer is in existence.
       ``(5) Special rules.--
       ``(A) Aggregation rule.--For purposes of paragraph (1), any 
     person treated as a single employer under subsection (a) or 
     (b) of section 52 (applied without regard to section 1563(b)) 
     or subsection (m) or (o) of section 414 shall be treated as a 
     single employer for purposes of this subsection.
       ``(B) Predecessors.--Any reference in this subsection to an 
     employer shall include a reference to any predecessor of such 
     employer.
       ``(e) Special Rules.--
       ``(1) Elective application of deduction.--Except as 
     otherwise provided by the Secretary, the taxpayer may elect 
     not to take any item of income into account as domestic 
     business gross receipts for purposes of this section.
       ``(2) Coordination with section 199.--If a deduction is 
     allowed under this section with respect to any taxpayer for 
     any taxable year--
       ``(A) any gross receipts of the taxpayer which are taken 
     into account under this section for such taxable year shall 
     not be taken into account under section 199 for such taxable 
     year, and
       ``(B) the W-2 wages of the taxpayer which are taken into 
     account under this section shall not be taken into account 
     under section 199 for such taxable year.
       ``(3) Application of certain rules.--Rules similar to the 
     rules of paragraphs (1), (2), (3), (4), (6), and (7) of 
     section 199(d) shall apply for purposes of this section 
     (applied with respect to qualified domestic business income 
     in lieu of qualified production activities income).
       ``(f) Regulations.--The Secretary shall prescribe such 
     regulations as are necessary to carry out the purposes of 
     this section, including regulations which prevent a taxpayer 
     which reorganizes from being treated as a qualified small 
     business if such taxpayer would not have been treated as a 
     qualified small business prior to such reorganization.
       ``(g) Application.--Subsection (a) shall apply only with 
     respect to the first taxable year of the taxpayer beginning 
     after December 31, 2011.''.
       (b) Conforming Amendments.--
       (1) Section 56(d)(1)(A) of such Code is amended by striking 
     ``deduction under section 199'' both places it appears and 
     inserting ``deductions under sections 199 and 200''.
       (2) Section 56(g)(4)(C) of such Code is amended by adding 
     at the end the following new clause:
       ``(vii) Deduction for domestic business income of qualified 
     small businesses.--Clause (i) shall not apply to any amount 
     allowable as a deduction under section 200.''.
       (3) The following provisions of such Code are each amended 
     by inserting ``200,'' after ``199,''.
       (A) Section 86(b)(2)(A).
       (B) Section 135(c)(4)(A).
       (C) Section 137(b)(3)(A).
       (D) Section 219(g)(3)(A)(ii).
       (E) Section 221(b)(2)(C)(i).
       (F) Section 222(b)(2)(C)(i).
       (G) Section 246(b)(1).
       (H) Section 469(i)(3)(F)(iii).
       (4) Section 163(j)(6)(A)(i) of such Code is amended by 
     striking ``and'' at the end of subclause (III) and by 
     inserting after subclause (IV) the following new subclause:

       ``(V) any deduction allowable under section 200, and''.

       (5) Section 170(b)(2)(C) of such Code is amended by 
     striking ``and'' at the end of clause (iv), by striking the 
     period at the end of clause (v) and inserting ``, and'', and 
     by inserting after clause (v) the following new clause:
       ``(vi) section 200.''.
       (6) Section 172(d) of such Code is amended by adding at the 
     end the following new paragraph:
       ``(8) Domestic business income of qualified small 
     businesses.--The deduction under section 200 shall not be 
     allowed.''.
       (7) Section 613(a) of such Code is amended by striking 
     ``deduction under section 199'' and inserting ``deductions 
     under sections 199 and 200''.
       (8) Section 613A(d)(1) of such Code is amended by 
     redesignating subparagraphs (C), (D), and (E) as 
     subparagraphs (D), (E), and (F), respectively, and by 
     inserting after subparagraph (B) the following new 
     subparagraph:
       ``(C) any deduction allowable under section 200,''.
       (9) Section 1402(a) of such Code is amended by striking 
     ``and'' at the end of paragraph (16), by redesignating 
     paragraph (17) as paragraph (18), and by inserting after 
     paragraph (16) the following new paragraph:
       ``(17) the deduction provided by section 200 shall not be 
     allowed; and''.
       (c) Clerical Amendment.--The table of sections for part VI 
     of subchapter B of chapter 1 of such Code is amended by 
     adding at the end the following new item:

``Sec. 200. Domestic business income of qualified small businesses.''.
                                 ______
                                 
  SA 2525. Mr. REID proposed an amendment to amendment SA 2524 proposed 
by Mr. Reid to the bill S. 2237, to provide a temporary income tax 
credit for increased payroll and extend bonus depreciation for an 
additional year, and for other purposes; as follows:

       At the end, add the following new section:

     SEC. ___.

       This title shall become effective 5 days after enactment.
                                 ______
                                 
  SA 2526. Mr. REID proposed an amendment to the bill S. 2237, to 
provide a temporary income tax credit for increased payroll and extend 
bonus depreciation for an additional year, and for other purposes; as 
follows:


[[Page 11180]]

     SEC. ___.

       This Act shall become effective 3 days after enactment.
                                 ______
                                 
  SA 2527. Mr. REID proposed an amendment to amendment SA 2526 proposed 
by Mr. Reid to the bill S. 2237, to provide a temporary income tax 
credit for increased payroll and extend bonus depreciation for an 
additional year, and for other purposes; as follows:

       In the amendment, strike ``3 days'' and insert ``2 days''.
                                 ______
                                 
  SA 2528. Mr. REID proposed an amendment to amendment SA 2527 proposed 
by Mr. Reid to the amendment SA 2526 proposed by Mr. Reid to the bill 
S. 2237, to provide a temporary income tax credit for increased payroll 
and extend bonus depreciation for an additional year, and for other 
purposes; as follows:

       In the amendment, strike ``2 days'' and insert ``1 day''.
                                 ______
                                 
  SA 2529. Mr. LEE submitted an amendment intended to be proposed by 
him to the bill S. 2237, to provide a temporary income tax credit for 
increased payroll and extend bonus depreciation for an additional year, 
and for other purposes; which was ordered to lie on the table; as 
follows:

       At the end, add the following:

     SEC. __. MODIFICATION AND PERMANENT EXTENSION OF THE 
                   INCENTIVES TO REINVEST FOREIGN EARNINGS IN THE 
                   UNITED STATES.

       (a) Repatriation Subject to 5 Percent Tax Rate.--Subsection 
     (a)(1) of section 965 of the Internal Revenue Code of 1986 is 
     amended by striking ``85 percent'' and inserting ``85.7 
     percent''.
       (b) Permanent Extension To Elect Repatriation.--Subsection 
     (f) of section 965 of the Internal Revenue Code of 1986 is 
     amended to read as follows:
       ``(f) Election.--The taxpayer may elect to apply this 
     section to any taxable year only if made on or before the due 
     date (including extensions) for filing the return of tax for 
     such taxable year.''.
       (c) Repatriation Includes Current and Accumulated Foreign 
     Earnings.--
       (1) In general.--Paragraph (1) of section 965(b) of the 
     Internal Revenue Code of 1986 is amended to read as follows:
       ``(1) In general.--The amount of dividends taken into 
     account under subsection (a) shall not exceed the sum of the 
     current and accumulated earnings and profits described in 
     section 959(c)(3) for the year a deduction is claimed under 
     subsection (a), without diminution by reason of any 
     distributions made during the election year, for all 
     controlled foreign corporations of the United States 
     shareholder.''.
       (2) Conforming amendments.--
       (A) Section 965(b) of such Code is amended by striking 
     paragraphs (2) and (4) and by redesignating paragraph (3) as 
     paragraph (2).
       (B) Section 965(c) of such Code is amended by striking 
     paragraphs (1) and (2) and by redesignating paragraphs (3), 
     (4), and (5) as paragraphs (1), (2), and (3), respectively.
       (C) Paragraph (3) of section 965(c) of such Code, as 
     redesignated by subparagraph (B), is amended to read as 
     follows:
       ``(3) Controlled groups.--All United States shareholders 
     which are members of an affiliated group filing a 
     consolidated return under section 1501 shall be treated as 
     one United States shareholder.''.
       (d) Clerical Amendments.--
       (1) The heading for section 965 of the Internal Revenue 
     Code of 1986 is amended by striking ``TEMPORARY''.
       (2) The table of sections for subpart F of part III of 
     subchapter N of chapter 1 of such Code is amended by striking 
     ``Temporary dividends'' and inserting ``Dividends''.
       (e) Effective Date.--The amendments made by this section 
     shall apply to taxable years ending after the date of the 
     enactment of this Act.
                                 ______
                                 
  SA 2530. Mr. LEE submitted an amendment intended to be proposed by 
him to the bill S. 2237, to provide a temporary income tax credit for 
increased payroll and extend bonus depreciation for an additional year, 
and for other purposes; which was ordered to lie on the table; as 
follows:

       At the end, add the following:

     SEC. __. PERMANENT EXTENSION OF TAX RELIEF.

       (a) 2001 Tax Relief.--The Economic Growth and Tax Relief 
     Reconciliation Act of 2001 is amended by striking title IX.
       (b) 2003 Relief.--Title III of the Jobs and Growth Tax 
     Relief Reconciliation Act of 2003 is amended by striking 
     section 303.
       (c) Alternative Minimum Tax Exemption Amounts.--
       (1) Increased exemption amounts made permanent.--
       (A) In general.--Paragraph (1) of section 55(d) of the 
     Internal Revenue Code of 1986 is amended--
       (i) by striking ``$45,000 ($72,450 in the case of taxable 
     years beginning in 2010 and $74,450 in the case of taxable 
     years beginning in 2011)'' in subparagraph (A) and inserting 
     ``$74,450'',
       (ii) by striking ``$33,750 ($47,450 in the case of taxable 
     years beginning in 2010 and $48,450 in the case of taxable 
     years beginning in 2011)'' in subparagraph (B) and inserting 
     ``$48,450'', and
       (iii) by striking ``paragraph (1)(A)'' in subparagraph (C) 
     and inserting ``subparagraph (A)''.
       (2) Exemption amounts indexed for inflation.--Subsection 
     (d) of section 55 of the Internal Revenue Code of 1986 is 
     amended by adding at the end the following new paragraph:
       ``(4) Inflation adjustment.--
       ``(A) In general.--In the case of any taxable year 
     beginning in a calendar year after 2011, each of the dollar 
     amounts contained in subparagraphs (A) and (B) of paragraph 
     (1) shall be increased by an amount equal to--
       ``(i) such dollar amount, multiplied by
       ``(ii) the cost-of-living adjustment determined under 
     section 1(f)(3) for the calendar year in which the taxable 
     year begins, determined by substituting `calendar year 2010' 
     for `calendar year 1992' in subparagraph (B) thereof.
       ``(B) Rounding.--Any increase determined under subparagraph 
     (A) shall be rounded to the nearest multiple of $100.''.
       (3) Effective date.--The amendments made by this subsection 
     shall apply to taxable years beginning after December 31, 
     2011.
       (d) Alternative Minimum Tax Relief for Nonrefundable 
     Credits.--
       (1) In general.--Subsection (a) of section 26 of the 
     Internal Revenue Code of 1986 is amended to read as follows:
       ``(a) Limitation Based on Amount of Tax.--The aggregate 
     amount of credits allowed by this subpart for the taxable 
     year shall not exceed the sum of--
       ``(1) the taxpayer's regular tax liability for the taxable 
     year reduced by the foreign tax credit allowable under 
     section 27(a), and
       ``(2) the tax imposed by section 55(a) for the taxable 
     year.''.
       (2) Conforming amendments.--
       (A) Adoption credit.--
       (i) Section 23(b) of the Internal Revenue Code of 1986 is 
     amended by striking paragraph (4).
       (ii) Section 23(c) of such Code is amended by striking 
     paragraphs (1) and (2) and inserting the following:
       ``(1) In general.--If the credit allowable under subsection 
     (a) for any taxable year exceeds the limitation imposed by 
     section 26(a) for such taxable year reduced by the sum of the 
     credits allowable under this subpart (other than this section 
     and sections 25D and 1400C), such excess shall be carried to 
     the succeeding taxable year and added to the credit allowable 
     under subsection (a) for such taxable year.''.
       (iii) Section 23(c) of such Code is amended by 
     redesignating paragraph (3) as paragraph (2).
       (B) Child tax credit.--
       (i) Section 24(b) of such Code is amended by striking 
     paragraph (3).
       (ii) Section 24(d)(1) of such Code is amended--

       (I) by striking ``section 26(a)(2) or subsection (b)(3), as 
     the case may be,'' each place it appears in subparagraphs (A) 
     and (B) and inserting ``section 26(a)'', and
       (II) by striking ``section 26(a)(2) or subsection (b)(3), 
     as the case may be'' in the second last sentence and 
     inserting ``section 26(a)''.

       (C) Credit for interest on certain home mortgages.--Section 
     25(e)(1)(C) of such Code is amended to read as follows:
       ``(C) Applicable tax limit.--For purposes of this 
     paragraph, the term `applicable tax limit' means the 
     limitation imposed by section 26(a) for the taxable year 
     reduced by the sum of the credits allowable under this 
     subpart (other than this section and sections 23, 25D, and 
     1400C).''.
       (D) Savers' credit.--Section 25B of such Code is amended by 
     striking subsection (g).
       (E) Residential energy efficient property.--Section 25D(c) 
     of such Code is amended to read as follows:
       ``(c) Carryforward of Unused Credit.--If the credit 
     allowable under subsection (a) exceeds the limitation imposed 
     by section 26(a) for such taxable year reduced by the sum of 
     the credits allowable under this subpart (other than this 
     section), such excess shall be carried to the succeeding 
     taxable year and added to the credit allowable under 
     subsection (a) for such succeeding taxable year.''.
       (F) Certain plug-in electric vehicles.--Section 30(c)(2) of 
     such Code is amended to read as follows:
       ``(2) Personal credit.--For purposes of this title, the 
     credit allowed under subsection (a) for any taxable year 
     (determined after application of paragraph (1)) shall be 
     treated as a credit allowable under subpart A for such 
     taxable year.''.
       (G) Alternative motor vehicle credit.--Section 30B(g)(2) of 
     such Code is amended to read as follows:
       ``(2) Personal credit.--For purposes of this title, the 
     credit allowed under subsection (a) for any taxable year 
     (determined after application of paragraph (1)) shall be 
     treated as a credit allowable under subpart A for such 
     taxable year.''.

[[Page 11181]]

       (H) New qualified plug-in electric vehicle credit.--Section 
     30D(c)(2) of such Code is amended to read as follows:
       ``(2) Personal credit.--For purposes of this title, the 
     credit allowed under subsection (a) for any taxable year 
     (determined after application of paragraph (1)) shall be 
     treated as a credit allowable under subpart A for such 
     taxable year.''.
       (I) Cross references.--Section 55(c)(3) of such Code is 
     amended by striking ``26(a), 30C(d)(2),'' and inserting 
     ``30C(d)(2)''.
       (J) Foreign tax credit.--Section 904 of such Code is 
     amended by striking subsection (i) and by redesignating 
     subsections (j), (k), and (l) as subsections (i), (j), and 
     (k), respectively.
       (K) First-time home buyer credit for the district of 
     columbia.--Section 1400C(d) of such Code is amended to read 
     as follows:
       ``(d) Carryforward of Unused Credit.--If the credit 
     allowable under subsection (a) exceeds the limitation imposed 
     by section 26(a) for such taxable year reduced by the sum of 
     the credits allowable under subpart A of part IV of 
     subchapter A (other than this section and section 25D), such 
     excess shall be carried to the succeeding taxable year and 
     added to the credit allowable under subsection (a) for such 
     taxable year.''.
       (3) Effective date.--The amendments made by this subsection 
     shall apply to taxable years beginning after December 31, 
     2011.

                       TITLE __--DEATH TAX REPEAL

     SEC. __1. SHORT TITLE.

       This title may be cited as the ``Death Tax Repeal 
     Permanency Act of 2012''.

     SEC. __2. REPEAL OF ESTATE AND GENERATION-SKIPPING TRANSFER 
                   TAXES.

       (a) Estate Tax Repeal.--Subchapter C of chapter 11 of 
     subtitle B of the Internal Revenue Code of 1986 is amended by 
     adding at the end the following new section:

     ``SEC. 2210. TERMINATION.

       ``(a) In General.--Except as provided in subsection (b), 
     this chapter shall not apply to the estates of decedents 
     dying on or after the date of the enactment of the Death Tax 
     Repeal Permanency Act of 2012.
       ``(b) Certain Distributions From Qualified Domestic 
     Trusts.--In applying section 2056A with respect to the 
     surviving spouse of a decedent dying before the date of the 
     enactment of the Death Tax Repeal Permanency Act of 2012--
       ``(1) section 2056A(b)(1)(A) shall not apply to 
     distributions made after the 10-year period beginning on such 
     date, and
       ``(2) section 2056A(b)(1)(B) shall not apply on or after 
     such date.''.
       (b) Generation-Skipping Transfer Tax Repeal.--Subchapter G 
     of chapter 13 of subtitle B of the Internal Revenue Code of 
     1986 is amended by adding at the end the following new 
     section:

     ``SEC. 2664. TERMINATION.

       ``This chapter shall not apply to generation-skipping 
     transfers on or after the date of the enactment of the Death 
     Tax Repeal Permanency Act of 2012.''.
       (c) Conforming Amendments.--
       (1) The table of sections for subchapter C of chapter 11 of 
     the Internal Revenue Code of 1986 is amended by adding at the 
     end the following new item:

``Sec. 2210. Termination.''.
       (2) The table of sections for subchapter G of chapter 13 of 
     such Code is amended by adding at the end the following new 
     item:

``Sec. 2664. Termination.''.
       (d) Restoration of Pre-EGTRRA Provisions Not Applicable.--
       (1) In general.--Section 301 of the Tax Relief, 
     Unemployment Insurance Reauthorization, and Job Creation Act 
     of 2010 shall not apply to estates of decedents dying, and 
     transfers made, on or after the date of the enactment of this 
     Act.
       (2) Exception for stepped-up basis.--Paragraph (1) shall 
     not apply to the provisions of law amended by subtitle E of 
     title V of the Economic Growth and Tax Relief Reconciliation 
     Act of 2001 (relating to carryover basis at death; other 
     changes taking effect with repeal).
       (e) Sunset Not Applicable.--Section 304 of the Tax Relief, 
     Unemployment Insurance Reauthorization, and Job Creation Act 
     of 2010 is hereby repealed.
       (f) Effective Date.--The amendments made by this section 
     shall apply to the estates of decedents dying, and 
     generation-skipping transfers, after the date of the 
     enactment of this Act.

     SEC. __3. MODIFICATIONS OF GIFT TAX.

       (a) Computation of Gift Tax.--Subsection (a) of section 
     2502 of the Internal Revenue Code of 1986 is amended to read 
     as follows:
       ``(a) Computation of Tax.--
       ``(1) In general.--The tax imposed by section 2501 for each 
     calendar year shall be an amount equal to the excess of--
       ``(A) a tentative tax, computed under paragraph (2), on the 
     aggregate sum of the taxable gifts for such calendar year and 
     for each of the preceding calendar periods, over
       ``(B) a tentative tax, computed under paragraph (2), on the 
     aggregate sum of the taxable gifts for each of the preceding 
     calendar periods.
       ``(2) Rate schedule.--


``If the amount with respect to which the   The tentative
 tentative tax to be computed is:.            tax is:
Not over $10,000..........................  18% of such amount.
Over $10,000 but not over $20,000.........  $1,800, plus 20% of the
                                             excess over $10,000.
Over $20,000 but not over $40,000.........  $3,800, plus 22% of the
                                             excess over $20,000.
Over $40,000 but not over $60,000.........  $8,200, plus 24% of the
                                             excess over $40,000.
Over $60,000 but not over $80,000.........  $13,000, plus 26% of the
                                             excess over $60,000.
Over $80,000 but not over $100,000........  $18,200, plus 28% of the
                                             excess over $80,000.
Over $100,000 but not over $150,000.......  $23,800, plus 30% of the
                                             excess over $100,000.
Over $150,000 but not over $250,000.......  $38,800, plus 32% of the
                                             excess of $150,000.
Over $250,000 but not over $500,000.......  $70,800, plus 34% of the
                                             excess over $250,000.
Over $500,000.............................  $155,800, plus 35% of the
                                             excess of $500,000.''.
 

       (b) Treatment of Certain Transfers in Trust.--Section 2511 
     of the Internal Revenue Code of 1986 is amended by adding at 
     the end the following new subsection:
       ``(c) Treatment of Certain Transfers in Trust.--
     Notwithstanding any other provision of this section and 
     except as provided in regulations, a transfer in trust shall 
     be treated as a taxable gift under section 2503, unless the 
     trust is treated as wholly owned by the donor or the donor's 
     spouse under subpart E of part I of subchapter J of chapter 
     1.''.
       (c) Lifetime Gift Exemption.--Paragraph (1) of section 
     2505(a) of the Internal Revenue Code of 1986 is amended to 
     read as follows:
       ``(1) the amount of the tentative tax which would be 
     determined under the rate schedule set forth in section 
     2502(a)(2) if the amount with respect to which such tentative 
     tax is to be computed were $5,000,000, reduced by''.
       (d) Conforming Amendments.--
       (1) Section 2505(a) of the Internal Revenue Code of 1986 is 
     amended by striking the last sentence.
       (2) The heading for section 2505 of such Code is amended by 
     striking ``unified''.
       (3) The item in the table of sections for subchapter A of 
     chapter 12 of such Code relating to section 2505 is amended 
     to read as follows:

``Sec. 2505. Credit against gift tax.''.
       (e) Effective Date.--The amendments made by this section 
     shall apply to gifts made on or after the date of the 
     enactment of this Act.
       (f) Transition Rule.--
       (1) In general.--For purposes of applying sections 1015(d), 
     2502, and 2505 of the Internal Revenue Code of 1986, the 
     calendar year in which this title is enacted shall be treated 
     as 2 separate calendar years one of which ends on the day 
     before the date of the enactment of this Act and the other of 
     which begins on such date of enactment.
       (2) Application of section 2504(b).--For purposes of 
     applying section 2504(b) of the Internal Revenue Code of 
     1986, the calendar year in which this title is enacted shall 
     be treated as one preceding calendar period.
                                 ______
                                 
  SA 2531. Mr. ROBERTS submitted an amendment intended to be proposed 
by him to the bill S. 2237, to provide a temporary income tax credit 
for increased payroll and extend bonus depreciation for an additional 
year, and for other purposes; which was ordered to lie on the table; as 
follows:

       On page _, between lines _ and _, insert the following:

     SEC. ___. EXTENSION OF AUTHORITY OF SECRETARY OF THE TREASURY 
                   TO RELEASE A LEVY ON A TAXPAYER'S PROPERTY 
                   BASED ON AN ECONOMIC HARDSHIP DUE TO THE 
                   FINANCIAL CONDITION OF THE TAXPAYER'S BUSINESS.

       (a) In General.--Paragraph (1) of section 6343 of the 
     Internal Revenue Code of 1986 is amended--
       (1) by inserting ``or the taxpayer's trade or business'' 
     after ``taxpayer'' in subparagraph (D), and
       (2) by adding at the end the following new sentence: ``For 
     purposes of subparagraph (D), in making the determination to 
     release a levy against a trade or business on economic 
     hardship grounds, the Secretary shall consider the economic 
     viability of the trade or business, the nature and extent of 
     the hardship (including whether the taxpayer exercised 
     ordinary business care and prudence), the potential harm to 
     individuals if the trade or business is liquidated, and 
     whether the taxes could be collected from a responsible 
     person under an assessment under section 6672.''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to levies issued on or after the date of the 
     enactment of this Act.

[[Page 11182]]



                          ____________________