A bill to amend the Small Business Act to create by definition a category of small business concerns called family enterprises, to provide that a minimum percentage of business loans under such Act are made to family enterprises, and to simplify certain reporting requirements on such enterprises.

Amends the Small Business Act to define small business concerns called family enterprises which will entitle them to a minimum percentage of loans under such Act. Requires that rules and regulations are promulgated to reduce the burden on family enterprises of furnishing information to the Government including simplification of specified tax forms.