Women's Small Business Ownership Act of 2014 - Amends the Small Business Act to direct the Office of Women's Business Ownership within the Small Business Administration (SBA) to address issues concerning specified disciplines required for starting, operating, and increasing a small business.
Authorizes the SBA Administrator to provide annual training for women's business ownership representatives.
Authorizes the Administrator to provide financial assistance to qualifying entities to conduct projects designed to provide training and counseling meeting the needs of women business owners, especially socially and economically disadvantaged women business owners. Specifies assistance amounts of up to $250,000 per project year.
Directs the Administrator to seek advice, input, and recommendations for policy changes from any association of women's business centers to develop: (1) a training program for the staff of such centers, and (2) recommendations to improve the policies and procedures for governing the general operations and administration of the women's business center program.
Authorizes the Administrator, upon request by a recipient organization, to waive for a fiscal year (but not more than two consecutive fiscal years) the requirement to obtain matching non-federal funds for the organization's technical assistance and counseling activities carried out using financial assistance under the women's business center program.
Directs the Comptroller General (GAO) to study: (1) the unique economic issues facing women's business centers located in predominately rural, urban, or insular areas; and (2) SBA oversight of women's business centers.
Authorizes a contracting officer to award a sole source contract under this Act to small businesses owned and controlled by women if each of the businesses is at least 51% owned by one or more women who are economically disadvantaged (and such ownership is determined without regard to any community property law), and meets specified additional criteria.
Authorizes a contracting officer to award a sole source contract to a small business owned and controlled by women meeting the same criteria in an industry in which such businesses are substantially underrepresented if the small business also meets specified certification requirements.
Extends indefinitely the SBA Intermediary Lending Program (ILP).
Replaces requirements governing ILP loan limits, including maximum amounts, with requirements that limit to: (1) $1 million a single loan to an eligible intermediary, (2) $5 million the total amount outstanding and committed to the intermediary by the Administrator under the ILP, and (3) $20 million the total amount of all ILP loans during each of FY2015-FY2017.
Revises requirements for the SBA microloan program (direct loans to eligible intermediaries for making fixed interest rate microloans to startup, newly established, or growing small businesses).
Increases the ILP's aggregate loan limit for intermediaries after their first year of participation from $5 million to $7 million. Eliminates limitations on an intermediary's use of funds from an accompanying marketing, management, and technical assistance grant to provide information and technical assistance to small businesses that are prospective borrowers.
Prohibits the Administrator from collecting the guarantee fee on a guaranteed loan unless amounts are made available to subsidize the cost of guaranteeing such loans for FY2016.
Expresses the sense of the Senate on access to capital for small businesses owned and controlled by women.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 2693 Introduced in Senate (IS)]
113th CONGRESS
2d Session
S. 2693
To reauthorize the women's business center program of the Small
Business Administration, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 30, 2014
Ms. Cantwell (for herself, Mr. Cardin, Mrs. Shaheen, Mrs. Gillibrand,
Ms. Baldwin, and Mr. Walsh) introduced the following bill; which was
read twice and referred to the Committee on Small Business and
Entrepreneurship
_______________________________________________________________________
A BILL
To reauthorize the women's business center program of the Small
Business Administration, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Women's Small Business Ownership Act
of 2014''.
SEC. 2. DEFINITION.
In this Act--
(1) the terms ``Administration'' and ``Administrator'' mean
the Small Business Administration and the Administrator
thereof, respectively;
(2) the term ``disability'' has the meaning given that term
in section 3 of the Americans with Disabilities Act of 1990 (42
U.S.C. 12102);
(3) the term ``microloan program'' means the program
established under section 7(m) of the Small Business Act (15
U.S.C. 636(m));
(4) the term ``rural small business concern'' means a small
business concern located in a rural area, as that term is
defined in section 1393(a)(2) of the Internal Revenue Code of
1986; and
(5) the terms ``small business concern'', ``small business
concern owned and controlled by veterans'', and ``small
business concern owned and controlled by women'' have the
meanings given those terms under section 3 of the Small
Business Act (15 U.S.C. 632).
SEC. 3. OFFICE OF WOMEN'S BUSINESS OWNERSHIP.
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);
``(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); and
``(C) 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), when feasible, providing to each women's
business center a copy of any site visit reports or
evaluation reports prepared by district office
technical representatives or officers or employees of
the Administration.''.
SEC. 4. 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)--
(A) by striking paragraph (4);
(B) by redesignating paragraphs (2) and (3) as
paragraphs (4) and (5), respectively;
(C) by inserting after paragraph (1) the following:
``(2) 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;
``(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
(D) by adding after paragraph (5), as so
redesignated, 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.--The Administrator
may award financial assistance under this subsection of not
more than $250,000 per project year.
``(4) Consultation with associations of women's business
centers.--The Administrator shall seek advice, input, and
recommendations for policy changes from any association of
women's business centers to develop--
``(A) a training program for the staff of women's
business centers; 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) by adding at the end the following:
``(5) 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;
``(ii) as a condition of receiving
financial assistance under subsection (b),
agrees--
``(I) to receive a site visit at
the discretion of the Administrator as
part of the final selection process;
``(II) to undergo an annual
programmatic and financial examination;
and
``(III) to remedy any problems
identified pursuant to the site visit
or examination under subclause (I) or
(II); and
``(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) 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, as established under
the program announcement or by
regulation;
``(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 2014, 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 an 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) at the discretion of the
Administrator, and 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.--Section 29 of the Small
Business Act (15 U.S.C. 656) is amended--
(1) in subsection (h)(2), by striking ``to award a contract
(as a sustainability grant) under subsection (l) or'';
(2) in subsection (j)(1), by striking ``The
Administration'' and inserting ``Not later than November 1 of
each year, the Administrator'';
(3) in subsection (k)--
(A) by striking paragraphs (1) and (4);
(B) by redesignating paragraph (3) as paragraph
(4);
(C) by inserting before paragraph (2) the
following:
``(1) In general.--There are authorized to be appropriated
to the Administration to carry out this section, to remain
available until expended, $26,750,000 for each of fiscal years
2015 through 2019.''; and
(D) by inserting after paragraph (2) the following:
``(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.'';
(4) in subsection (m)--
(A) in paragraph (2), by striking ``subsection (b)
or (l)'' and inserting ``this subsection or subsection
(b)''; and
(B) in paragraph (4)(D), by striking ``or
subsection (l)''; and
(5) by redesignating subsections (m), (n), and (o), as
amended by this Act, as subsections (l), (m), and (n),
respectively.
(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 (a)(5) 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. 5. MATCHING REQUIREMENTS UNDER WOMEN'S BUSINESS CENTER PROGRAM.
(a) In General.--Section 29(c) of the Small Business Act (15 U.S.C.
656(c)), as amended by section 4 of this Act, is amended--
(1) in paragraph (1), by striking ``As a condition'' and
inserting ``Subject to paragraph (6), as a condition''; and
(2) by adding at the end the following:
``(6) Waiver of non-federal share relating to technical
assistance and counseling.--
``(A) In general.--Upon request by a recipient
organization, and in accordance with this paragraph,
the Administrator may waive, in whole or in part, the
requirement to obtain non-Federal funds under this
subsection for the technical assistance and counseling
activities of the recipient organization carried out
using financial assistance under this section for a
fiscal year. The Administrator may not waive the
requirement for a recipient organization to obtain non-
Federal funds under this paragraph for more than a
total of 2 consecutive fiscal years.
``(B) Considerations.--In determining whether to
waive the requirement to obtain non-Federal funds under
this paragraph, the Administrator shall consider--
``(i) the economic conditions affecting the
recipient organization;
``(ii) the impact a waiver under this
clause would have on the credibility of the
women's business center program under this
section;
``(iii) the demonstrated ability of the
recipient organization to raise non-Federal
funds; and
``(iv) the performance of the recipient
organization.
``(C) Limitation.--The Administrator may not waive
the requirement to obtain non-Federal funds under this
paragraph if granting the waiver would undermine the
credibility of the women's business center program
under this section.
``(7) Solicitation.--Notwithstanding any other provision of
law, a recipient organization may--
``(A) solicit cash and in-kind contributions from
private individuals and entities to be used to carry
out the activities of the recipient organization under
the project conducted under this section; and
``(B) use amounts made available by the
Administration under this section for the cost of such
solicitation and management of the contributions
received.''.
(b) Regulations.--
(1) In general.--The Administrator shall--
(A) except as provided in paragraph (2), and not
later than 1 year after the date of enactment of this
Act, publish in the Federal Register proposed
regulations by the Administrator to carry out the
amendments made to section 29 of the Small Business Act
by this Act; and
(B) accept public comments on such proposed
regulations for not less than 60 days.
(2) Existing proposed regulations.--Paragraph (1)(A) shall
not apply to the extent proposed regulations by the
Administrator have been published on the date of enactment of
this Act that are sufficient to carry out the amendments made
to section 29 of the Small Business Act by this Act.
SEC. 6. 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. 7. 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 Veteran 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 Veteran 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
Veteran Business Outreach Centers.
SEC. 8. SOLE SOURCE CONTRACTS FOR SMALL BUSINESS CONCERNS OWNED AND
CONTROLLED BY WOMEN.
(a) In General.--Section 8(m) of the Small Business Act (15 U.S.C.
637(m)) is amended by adding at the end the following:
``(7) Authority for sole source contracts for economically
disadvantaged small business concerns owned and controlled by
women in underrepresented industries.--A contracting officer
may award a sole source contract under this subsection to a
small business concern owned and controlled by women that meets
the requirements under paragraph (2)(A) if--
``(A) the small business concern owned and
controlled by women is in an industry in which small
business concerns owned and controlled by women are
underrepresented, as determined by the Administrator;
``(B) the contracting officer determines that the
small business concern owned and controlled by women is
a responsible contractor with respect to performance of
the contract opportunity;
``(C) the anticipated award price of the contract,
including options, is not more than--
``(i) $6,500,000, in the case of a contract
opportunity assigned a North American Industry
Classification System code for manufacturing;
or
``(ii) $4,000,000, in the case of any other
contract opportunity; and
``(D) in the estimation of the contracting officer,
the contract award can be made at a fair and reasonable
price.
``(8) Authority for sole source contracts for small
business concerns owned and controlled by women in
substantially underrepresented industries.--A contracting
officer may award a sole source contract under this subsection
to a small business concern owned and controlled by women that
meets the requirements under paragraph (2)(E) if--
``(A) the small business concern owned and
controlled by women is in an industry in which small
business concerns owned and controlled by women are
substantially underrepresented, as determined by the
Administrator;
``(B) the contracting officer determines that the
small business concern owned and controlled by women is
a responsible contractor with respect to performance of
the contract opportunity;
``(C) the anticipated award price of the contract,
including options, is not more than--
``(i) $6,500,000, in the case of a contract
opportunity assigned a North American Industry
Classification System code for manufacturing;
or
``(ii) $4,000,000, in the case of any other
contract opportunity; and
``(D) in the estimation of the contracting officer,
the contract award can be made at a fair and reasonable
price.''.
(b) Reporting on Goals for Sole Source Contracts for Small Business
Concerns Owned and Controlled by Women.--Section 15(h)(2)(E)(viii) of
the Small Business Act (15 U.S.C. 644(h)(2)(E)(viii)) is amended--
(1) in subclause (IV), by striking ``and'' at the end;
(2) by redesignating subclause (V) as subclause (VIII); and
(3) by inserting after subclause (IV) the following:
``(V) through sole source contracts
awarded under section 8(m)(7);
``(VI) through sole source
contracts awarded under section
8(m)(8);
``(VII) by industry for contracts
described in subclause (III), (IV),
(V), or (VI); and''.
(c) Deadline for Report on Underrepresented Industries
Accelerated.--Section 29(o)(2) of the Small Business Act (15 U.S.C.
656(o)(2)) is amended--
(1) by striking ``5 years after the date of enactment of
this subsection'' and inserting ``January 2, 2015''; and
(2) by striking ``5-year period'' and inserting ``2-year or
5-year period, as applicable,''.
(d) Technical and Conforming Amendments.--Section 8(m) of the Small
Business Act (15 U.S.C. 637(m)) is amended--
(1) in paragraph (2)(C), by striking ``paragraph (3)'' and
inserting ``paragraph (4)''; and
(2) in paragraph (5), by striking ``paragraph (2)(F)'' each
place it appears and inserting ``paragraph (2)(E)''.
SEC. 9. SMALL BUSINESS INTERMEDIARY LENDING PROGRAM.
Section 7(l) of the Small Business Act (15 U.S.C. 636(l)) is
amended--
(1) in the subsection heading, by striking ``Pilot'';
(2) in paragraph (1)(B), by striking ``pilot'';
(3) in paragraph (2)--
(A) by striking ``3-year''; and
(B) by striking ``pilot'';
(4) in paragraph (4)--
(A) by striking subparagraph (B) and inserting the
following:
``(B) Loan limits.--
``(i) In general.--No single loan to an
eligible intermediary under this subsection may
exceed $1,000,000.
``(ii) Total amount.--The total amount
outstanding and committed to an eligible
intermediary by the Administrator under the
Program may not exceed $5,000,000.''; and
(B) by striking subparagraph (G) and inserting the
following:
``(G) Maximum amounts.--The Administrator may make
loans under the Program--
``(i) during each of fiscal years 2015,
2016, and 2017, in a total amount of not more
than $20,000,000; and
``(ii) during fiscal year 2018 and each
fiscal year thereafter, using such amounts as
are made available for the Program.''; and
(5) by striking paragraph (6).
SEC. 10. ACCESS TO CAPITAL FOR SMALL BUSINESS CONCERNS.
(a) Microloan Program.--Section 7(m) of the Small Business Act (15
U.S.C. 636(m)) is amended--
(1) in paragraph (1)(B)(i), by striking ``short-term,'';
(2) in paragraph (3)(C), by striking ``$5,000,000'' and
inserting ``$7,000,000'';
(3) in paragraph (4)--
(A) by striking subparagraph (E); and
(B) by redesignating subparagraph (F) as
subparagraph (E);
(4) in paragraph (6)--
(A) in subparagraph (A), by striking ``short-
term,''; and
(B) by adding at the end the following:
``(F) Report to commercial credit reporting
agencies.--The Administrator shall establish a process
under which an intermediary that makes a loan to a
small business concern under this paragraph shall
provide to 1 or more of the commercial credit reporting
agencies, through the Administration or independently,
including through third party intermediaries,
information on the small business concern that is
relevant to credit reporting, including the payment
activity of the small business concern on the loan.'';
(5) in paragraph (7)--
(A) by striking ``Program'' and all that follows
through ``Under'' and inserting the following: ``Number
of participants.--Under''; and
(B) by striking subparagraph (B);
(6) in paragraph (8), by striking ``such intermediaries''
and all the follows through the period at the end and inserting
the following: ``intermediaries that serve a diversity of
geographic areas in the United States to ensure appropriate
availability of loans for small business concerns in all
industries that are located in metropolitan, nonmetropolitan,
and rural areas.''; and
(7) in paragraph (11)(B), by striking ``short-term,''.
(b) Guarantee Fee Waiver.--During fiscal year 2016, the
Administrator may not collect a guarantee fee under section
7(a)(18)(A)(i) of the Small Business Act (15 U.S.C. 636(a)(18)(A)(i))
with respect to a loan guaranteed under section 7(a) of such Act,
unless amounts are made available to the Administrator to subsidize the
cost of guaranteeing such loans for fiscal year 2016.
(c) Annual Report.--
(1) In general.--Not later than 1 year after the date of
enactment of this Act, and every year thereafter, the Office of
Capital Access of the Administration 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 assistance provided by the
Administration under--
(A) section 7(a) of the Small Business Act (15
U.S.C. 636(a));
(B) the microloan program;
(C) part A of title III of the Small Business
Investment Act of 1958 (15 U.S.C. 681 et seq.); and
(D) section 502 of the Small Business Investment
Act of 1958 (15 U.S.C. 696).
(2) Requirement.--Each report required under paragraph (1)
shall include, for the year preceding the date on which the
report is submitted--
(A) for each type of assistance described under
subparagraphs (A), (B), and (D) of paragraph (1)--
(i) the number of loans made by the
Administration;
(ii) the total amount of loans made by the
Administration;
(iii) the percentage of the number and
total amount of loans made by the
Administration to--
(I) rural small business concerns;
(II) small business concerns owned
and controlled by individuals with a
disability;
(III) small business concerns owned
and controlled by low-income
individuals, broken down by each racial
or ethnic minority group of which those
individuals are members;
(IV) small business concerns owned
and controlled by veterans;
(V) small business concerns owned
and controlled by women; and
(VI) small business concerns owned
and controlled by members of a racial
or ethnic minority group, broken down
by each such racial or ethnic minority
group; and
(iv) the number of jobs created and
retained by borrowers as a result of such
assistance; and
(B) for assistance described under subparagraph (C)
of paragraph (1)--
(i) the number of investments made by small
business investment companies;
(ii) the total amount of equity capital
provided and loans made by small business
investment companies;
(iii) the percentage of the number of
investments and loans made and total amount of
equity capital provided by small business
investment companies to--
(I) rural small business concerns;
(II) small business concerns owned
and controlled by individuals with a
disability;
(III) small business concerns owned
and controlled by low-income
individuals, broken down by each racial
or ethnic minority group of which those
individuals are members;
(IV) small business concerns owned
and controlled by veterans;
(V) small business concerns owned
and controlled by women; and
(VI) small business concerns owned
and controlled by members of a racial
or ethnic minority group, broken down
by each such racial or ethnic minority
group;
(iv) the number of jobs created and
retained by small business concerns as a result
of investments made by small business
investment companies; and
(v) the number of licenses issued by the
Administration under section 301(c) of the
Small Business Investment Act (15 U.S.C.
681(c)), including the percentage of licenses
issued to entities headed by a woman or a
member of a racial or ethnic minority,
respectively.
SEC. 11. SENSE OF THE SENATE.
It is the sense of the Senate that--
(1) access to capital for small business concerns owned and
controlled by women comes from a variety of sources, including
important contributions and early investments from angel
capital and other venture capital investors; and
(2) those investors should continue to work to develop
small business concerns owned and controlled by women to expand
the rate at which those women receive venture investment.
<all>
Introduced in Senate
Sponsor introductory remarks on measure. (CR S5138)
Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S5138-5142)
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