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Small Business Job Creation Act of 2010

S. 3103, Introduced in Senate on by Sen. Olympia Snowe (R-ME)
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Full Text Below is a simple rendition of Congress' official bill text.

1.Short titleThis Act may be cited as the Small Business Job Creation Act of 2010.
2.Table of contentsThe table of contents for this Act is as follows:
Sec. 1. Short title.
Sec. 2. Table of contents.
TITLE I—Small business tax reform
Sec. 101. Extension of increase in expensing of certain depreciable business assets.
Sec. 102. Increased exclusion and other modifications applicable to qualified small business stock.
TITLE II—Access to capital
Sec. 201. Short title.
Subtitle A—Next Steps for Main Street Credit Availability
Sec. 221. Section 7(a) business loans.
Sec. 222. Maximum loan amounts under 504 program.
Sec. 223. Maximum loan limits under microloan program.
Sec. 224. New Markets Venture Capital company investment limitations.
Sec. 225. Alternative size standards.
Sec. 226. Sale of 7(a) loans in secondary market.
Sec. 227. Online lending platform.
Subtitle B—Small Business Access to Capital
Sec. 228. Low-interest refinancing under the local development business loan program.
TITLE III—Small business exporting
Sec. 301. Short title.
Sec. 302. Definitions.
Sec. 303. Office of International Trade.
Sec. 304. Duties of the Office of International Trade.
Sec. 305. Export assistance centers.
Sec. 306. International trade finance programs.
Sec. 307. State Trade and Export Promotion Grant Program.
Sec. 308. Rural export promotion.
Sec. 309. International trade cooperation by small business development centers.
TITLE IV—Small business regulatory reform
Sec. 401. Short title.
Sec. 402. Findings.
Sec. 403. Job impact statement for reported bills and joint resolutions.
Sec. 404. Clarification and expansion of rules covered by the Regulatory Flexibility Act.
Sec. 405. Requirements providing for more detailed analyses.
Sec. 406. Periodic review of rules.
Sec. 407. Office of Advocacy.
Sec. 408. Clerical amendments.
TITLE V—Other provisions
Sec. 501. Funds for SBDCs.
Sec. 502. Temporary waiver authority for women's business center program.
TITLE VI—Funding
Sec. 601. Offset.
Sec. 602. Emergency designation.
ISmall business tax reform
101.Extension of increase in expensing of certain depreciable business assets
(a)In generalSubsection (b) of section 179 of the Internal Revenue Code of 1986 is amended—
(1)by striking ($125,000 in the case of taxable years beginning after 2006 and before 2011) in paragraph (1) and inserting ($250,000 in the case of taxable years beginning after 2007 and before 2015),
(2)by striking ($500,000 in the case of taxable years beginning after 2006 and before 2011) in paragraph (2) and inserting ($800,000 in the case of taxable years beginning after 2007 and before 2015),
(3)by striking paragraphs (5) and (7), and
(4)by redesignating paragraph (6) as paragraph (5).
(b)Extension of expensing of computer softwareSection 179(d)(1)(A)(ii) of the Internal Revenue Code of 1986 is amended by striking 2011 and inserting 2015.
(c)Effective dateThe amendments made by this section shall apply to taxable years beginning after December 31, 2009.
102.Increased exclusion and other modifications applicable to qualified small business stock
(a)Increased exclusion
(1)In generalSubsection (a) of section 1202 of the Internal Revenue Code of 1986 (relating partial exclusion for gain from certain small business stock) is amended to read as follows:
(a)ExclusionGross income shall not include 100 percent of any gain from the sale or exchange of qualified small business stock held for more than 4 years.
.
(2)Rule relating to stock held among members of controlled groupSubsection (c) of section 1202 of such Code is amended by adding at the end the following new paragraph:
(4)Stock held among members of 25-percent controlled group not eligible
(A)In generalStock of a member of a 25-percent controlled group shall not be treated as qualified small business stock while held by another member of such group.
(B)25-percent controlled groupFor purposes of subparagraph (A), the term 25-percent controlled group means any controlled group of corporations as defined in section 1563(a)(1), except that—
(i)more than 25 percent shall be substituted for at least 80 percent each place it appears in section 1563(a)(1), and
(ii)section 1563(a)(4) shall not apply.
.
(3)Conforming amendments
(A)Subsections (b)(2), (g)(2)(A), and (j)(1)(A) of section 1202 of such Code are each amended by striking 5 years and inserting 4 years.
(B)The heading for section 1202 of such Code is amended by striking partial.
(C)The item relating to section 1202 in the table of sections for part I of subchapter P of chapter 1 of such Code is amended by striking Partial exclusion and inserting Exclusion.
(D)Section 1223(13) of such Code is amended by striking 1202(a)(2),.
(b)Repeal of minimum tax preference
(1)In generalSubsection (a) of section 57 of the Internal Revenue Code of 1986 (relating to items of tax preference) is amended by striking paragraph (7).
(2)Technical amendmentSubclause (II) of section 53(d)(1)(B)(ii) of such Code is amended by striking , (5), and (7) and inserting and (5).
(c)Repeal of 28 percent capital gains rate on qualified small business stock
(1)In generalSubparagraph (A) of section 1(h)(4) of the Internal Revenue Code of 1986 is amended to read as follows:
(A)collectibles gain, over
.
(2)Conforming amendments
(A)Section 1(h) of such Code is amended by striking paragraph (7).
(B)
(i)Section 1(h) of such Code is amended by redesignating paragraphs (8), (9), (10), (11), (12), and (13) as paragraphs (7), (8), (9), (10), (11), and (12), respectively.
(ii)Sections 163(d)(4)(B), 854(b)(5), 857(c)(2)(D) of such Code are each amended by striking section 1(h)(11)(B) and inserting section 1(h)(10)(B).
(iii)The following sections of such Code are each amended by striking section 1(h)(11) and inserting section 1(h)(10): (I)Section 301(f)(4). (II)Section 306(a)(1)(D). (III)Section 584(c). (IV)Section 702(a)(5). (V)Section 854(a). (VI)Section 854(b)(2).
(iv)The heading of section 857(c)(2) is amended by striking 1(h)(11) and inserting 1(h)(10).
(d)Increase aggregate asset limitation for qualified small businesses
(1)In generalParagraph (1) of section 1202(d) of the Internal Revenue Code of 1986 (relating to qualified small business) is amended by striking $50,000,000 each place it appears and inserting $100,000,000.
(2)Inflation adjustmentSection 1202(d) of such Code is amended by adding at the end the following new paragraph:
(4)Inflation adjustment
(A)In generalIn the case of any taxable year beginning in a calendar year after 2009, each of the $100,000,000 dollar amounts in 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 2008 for calendar year 1992 in subparagraph (B) thereof.
(B)RoundingIf any amount as adjusted under subparagraph (A) is not a multiple of $1,000, such amount shall be rounded to the next lowest multiple of $100.
.
(e)Effective date
(1)In generalThe amendments made by this section apply to stock issued after December 31, 2009.
(2)Special rule for stock issued before January 1, 2010The amendments made by subsections (a), (b), and (c) shall apply to sales or exchanges—
(A)made after December 31, 2009,
(B)of stock issued before such date, and
(C)by a taxpayer other than a corporation.
IIAccess to capital
201.Short titleThis title may be cited as the Small Business Job Creation and Access to Capital Act of 2010.
ANext Steps for Main Street Credit Availability
221.Section 7(a) business loans
(a)AmendmentSection 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—
(1)in paragraph (2)(A)—
(A)in clause (i), by striking 75 percent and inserting 90 percent; and
(B)in clause (ii), by striking 85 percent and inserting 90 percent; and
(2)in paragraph (3)(A), by striking $1,500,000 (or if the gross loan amount would exceed $2,000,000 and inserting $4,500,000 (or if the gross loan amount would exceed $5,000,000.
(b)Prospective repealEffective January 1, 2011, section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—
(1)in paragraph (2)(A)—
(A)in clause (i), by striking 90 percent and inserting 75 percent; and
(B)in clause (ii), by striking 90 percent and inserting 85 percent; and
(2)in paragraph (3)(A), by striking $4,500,000 and inserting $3,750,000.
222.Maximum loan amounts under 504 programSection 502(2)(A) of the Small Business Investment Act of 1958 (15 U.S.C. 696(2)(A)) is amended—
(1)in clause (i), by striking $1,500,000 and inserting $5,000,000;
(2)in clause (ii), by striking $2,000,000 and inserting $5,000,000;
(3)in clause (iii), by striking $4,000,000 and inserting $5,500,000;
(4)in clause (iv), by striking $4,000,000 and inserting $5,500,000; and
(5)in clause (v), by striking $4,000,000 and inserting $5,500,000.
223.Maximum loan limits under microloan programSection 7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended—
(1)in paragraph (1)(B)(iii), by striking $35,000 and inserting $50,000;
(2)in paragraph (3)—
(A)in subparagraph (C), by striking $3,500,000 and inserting $5,000,000; and
(B)in subparagraph (E), by striking $35,000 each place that term appears and inserting $50,000; and
(3)in paragraph (11)(B), by striking $35,000 and inserting $50,000.
224.New Markets Venture Capital company investment limitationsSection 355 of the Small Business Investment Act of 1958 (15 U.S.C. 689d) is amended by adding at the end the following:
(e)Investment limitations
(1)DefinitionIn this subsection, the term covered New Markets Venture Capital company means a New Markets Venture Capital company—
(A)granted final approval by the Administrator under section 354(e) on or after March 1, 2002; and
(B)that has obtained a financing from the Administrator.
(2)LimitationExcept to the extent approved by the Administrator, a covered New Markets Venture Capital company may not acquire or issue commitments for securities under this title for any single enterprise in an aggregate amount equal to more than 10 percent of the sum of—
(A)the regulatory capital of the covered New Markets Venture Capital company; and
(B)the total amount of leverage projected in the participation agreement of the covered New Markets Venture Capital.
.
225.Alternative size standardsSection 3(a) of the Small Business Act (15 U.S.C. 632(a)) is amended by adding at the end the following:
(5)Alternative size standard
(A)In generalThe Administrator shall establish an alternative size standard for applicants for business loans under section 7(a) and applicants for development company loans under title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.), that uses maximum tangible net worth and average net income as an alternative to the use of industry standards.
(B)Interim ruleUntil the date on which the alternative size standard established under subparagraph (A) is in effect, an applicant for a business loan under section 7(a) or an applicant for a development company loan under title V of the Small Business Investment Act of 1958 may be eligible for such a loan if—
(i)the maximum tangible net worth of the applicant is not more than $15,000,000; and
(ii)the average net income after Federal income taxes (excluding any carry-over losses) of the applicant for the 2 full fiscal years before the date of the application is not more than $5,000,000.
.
226.Sale of 7(a) loans in secondary marketSection 5(g) of the Small Business Act (15 U.S.C. 634(g)) is amended by adding at the end the following:
(6)If the amount of the guaranteed portion of any loan under section 7(a) is more than $500,000, the Administrator shall, upon request of a pool assembler, divide the loan guarantee into increments of $500,000 and 1 increment of any remaining amount less than $500,000, in order to permit the maximum amount of any loan in a pool to be not more than $500,000. Only 1 increment of any loan guarantee divided under this paragraph may be included in the same pool. Increments of loan guarantees to different borrowers that are divided under this paragraph may be included in the same pool.
.
227.Online lending platformIt is the sense of Congress that the Administrator of the Small Business Administration should establish a website that—
(1)lists each lender that makes loans guaranteed by the Small Business Administration and provides information about the loan rates of each such lender; and
(2)allows prospective borrowers to compare rates on loans guaranteed by the Small Business Administration.
BSmall Business Access to Capital
228.Low-interest refinancing under the local development business loan program
(a)RefinancingSection 502(7) of the Small Business Investment Act of 1958 (15 U.S.C. 696(7)) is amended by adding at the end the following:
(C)Refinancing not involving expansions
(i)DefinitionsIn this subparagraph— (I)the term borrower means a small business concern that submits an application to a development company for financing under this subparagraph; (II)the term eligible fixed asset means tangible property relating to which the Administrator may provide financing under this section; and (III)the term qualified debt means indebtedness— (aa)that— (AA)was incurred not less than 2 years before the date of the application for assistance under this subparagraph; (BB)is a commercial loan; (CC)is not subject to a guarantee by a Federal agency; (DD)the proceeds of which were used to acquire an eligible fixed asset; (EE)was incurred for the benefit of the small business concern; and (FF)is collateralized by eligible fixed assets; and (bb)for which the borrower has been current on all payments for not less than 1 year before the date of the application.
(ii)AuthorityA project that does not involve the expansion of a small business concern may include the refinancing of qualified debt if— (I)the amount of the financing is not more than 80 percent of the value of the collateral for the financing, except that, if the appraised value of the eligible fixed assets serving as collateral for the financing is less than the amount equal to 125 percent of the amount of the financing, the borrower may provide additional cash or other collateral to eliminate any deficiency; (II)the borrower has been in operation for all of the 2-year period ending on the date of the loan; and (III)for a financing for which the Administrator determines there will be an additional cost attributable to the refinancing of the qualified debt, the borrower agrees to pay a fee in an amount equal to the anticipated additional cost.
(iii)Financing for business expenses (I)Financing for business expensesThe Administrator may provide financing to a borrower that receives financing that includes a refinancing of qualified debt under clause (ii), in addition to the refinancing under clause (ii), to be used solely for the payment of business expenses. (II)Application for financingAn application for financing under subclause (I) shall include— (aa)a specific description of the expenses for which the additional financing is requested; and (bb)an itemization of the amount of each expense. (III)Condition on additional financingA borrower may not use any part of the financing under this clause for non-business purposes.
(iv)Loans based on jobs (I)Job creation and retention goals (aa)In generalThe Administrator may provide financing under this subparagraph for a borrower that meets the job creation goals under subsection (d) or (e) of section 501. (bb)Alternate job retention goalThe Administrator may provide financing under this subparagraph to a borrower that does not meet the goals described in item (aa) in an amount that is not more than the product obtained by multiplying the number of employees of the borrower by $65,000. (II)Number of employeesFor purposes of subclause (I), the number of employees of a borrower is equal to the sum of— (aa)the number of full-time employees of the borrower on the date on which the borrower applies for a loan under this subparagraph; and (bb)the product obtained by multiplying— (AA)the number of part-time employees of the borrower on the date on which the borrower applies for a loan under this subparagraph; by (BB)the quotient obtained by dividing the average number of hours each part time employee of the borrower works each week by 40.
(v)NondelegationNotwithstanding section 508(e), the Administrator may not permit a premier certified lender to approve or disapprove an application for assistance under this subparagraph.
(vi)Total amount of loansThe Administrator may provide not more than a total of $4,000,000,000 of financing under this subparagraph for each fiscal year.
.
(b)Prospective repealEffective 2 years after the date of enactment of this Act, section 502(7) of the Small Business Investment Act of 1958 (15 U.S.C. 696(7)) is amended by striking subparagraph (C).
(c)Technical correctionSection 502(2)(A)(i) of the Small Business Investment Act of 1958 (15 U.S.C. 696(2)(A)(i)) is amended by striking subparagraph (B) or (C) and inserting clause (ii), (iii), (iv), or (v).
IIISmall business exporting
301.Short titleThis title may be cited as the Small Business Export Enhancement and International Trade Act of 2010.
302.Definitions
(a)DefinitionsIn this title—
(1)the terms Administration and Administrator mean the Small Business Administration and the Administrator thereof, respectively;
(2)the term Associate Administrator means the Associate Administrator for International Trade appointed under section 22(a)(2) of the Small Business Act, as amended by this Act;
(3)the term Export Assistance Center means a one-stop shop referred to in section 2301(b)(8) of the Omnibus Trade and Competitiveness Act of 1988 (15 U.S.C. 4721(b)(8));
(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 term small business concern has the meaning given that term under section 3 of the Small Business Act (15 U.S.C. 632).
(b)Technical and conforming amendments
(1)DefinitionsSection 3 of the Small Business Act (15 U.S.C. 632) is amended by adding at the end the following:
(t)Small business development centerIn this Act, the term small business development center means a small business development center described in section 21.
(u)Region of the AdministrationIn this Act, the term region of the Administration means the geographic area served by a regional office of the Administration established under section 4(a).
.
(2)Conforming amendmentSection 4(b)(3)(B)(x) of the Small Business Act (15 U.S.C. 633(b)(3)(B)(x)) is amended by striking Administration district and region and inserting district and region of the Administration.
303.Office of International Trade
(a)EstablishmentSection 22 of the Small Business Act (15 U.S.C. 649) is amended—
(1)by striking Sec. 22. (a) There and inserting the following:
22.Office of International Trade
(a)Establishment
(1)OfficeThere
; and
(2)in subsection (a)—
(A)in paragraph (1), as so designated, by striking the period and inserting “for the primary purposes of increasing—
(A)the number of small business concerns that export; and
(B)the volume of exports by small business concerns.
; and
(B)by adding at the end the following:
(2)Associate AdministratorThe head of the Office shall be the Associate Administrator for International Trade, who shall be responsible to the Administrator.
.
(b)Authority for Additional Associate AdministratorSection 4(b)(1) of the Small Business Act (15 U.S.C. 633(b)(1)) is amended—
(1)in the fifth sentence, by striking five Associate Administrators and inserting Associate Administrators; and
(2)by adding at the end the following: One such Associate Administrator shall be the Associate Administrator for International Trade, who shall be the head of the Office of International Trade established under section 22..
(c)Discharge of International Trade Responsibilities of AdministrationSection 22 of the Small Business Act (15 U.S.C. 649) is amended by adding at the end the following:
(h)Discharge of International Trade Responsibilities of AdministrationThe Administrator shall ensure that—
(1)the responsibilities of the Administration regarding international trade are carried out by the Associate Administrator;
(2)the Associate Administrator has sufficient resources to carry out such responsibilities; and
(3)the Associate Administrator has direct supervision and control over—
(A)the staff of the Office; and
(B)any employee of the Administration whose principal duty station is an Export Assistance Center, or any successor entity.
.
(d)Role of Associate Administrator in carrying out international trade policySection 2(b)(1) of the Small Business Act (15 U.S.C. 631(b)(1)) is amended in the matter preceding subparagraph (A)—
(1)by inserting the Administrator of before the Small Business Administration; and
(2)by inserting through the Associate Administrator for International Trade, and before in cooperation with.
(e)Implementation dateNot later than 90 days after the date of enactment of this Act, the Administrator of the Small Business Administration shall appoint an Associate Administrator for International Trade under section 22(a) of the Small Business Act (15 U.S.C. 649(a)), as added by this section.
304.Duties of the Office of International Trade
(a)Amendments to section 22Section 22 of the Small Business Act (15 U.S.C. 649) is amended—
(1)by striking subsection (b) and inserting the following:
(b)Trade distribution networkThe Associate Administrator, working in close cooperation with the Secretary of Commerce, the United States Trade Representative, the Export-Import Bank of the United States, the Overseas Private Investment Corporation, and other relevant Federal agencies, small business development centers engaged in export promotion efforts, Export Assistance Centers, regional and district offices of the Administration, the small business community, and relevant State and local export promotion programs, shall—
(1)maintain a distribution network, using regional and district offices of the Administration, the small business development center network, networks of women's business centers, the Service Corps of Retired Executives authorized by section 8(b)(1), and Export Assistance Centers, for programs relating to—
(A)trade promotion;
(B)trade finance;
(C)trade adjustment assistance;
(D)trade remedy assistance; and
(E)trade data collection;
(2)aggressively market the programs described in paragraph (1) and disseminate information, including computerized marketing data, to small business concerns on exporting trends, market-specific growth, industry trends, and international prospects for exports;
(3)promote export assistance programs through the district and regional offices of the Administration, 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; and
(4)give preference in hiring or approving the transfer of any employee into the Office or to a position described in subsection (c)(9) to otherwise qualified applicants who are fluent in a language in addition to English, to—
(A)accompany small business concerns on foreign trade missions; and
(B)translate documents, interpret conversations, and facilitate multilingual transactions, including by providing referral lists for translation services, if required.
;
(2)in subsection (c)—
(A)by striking (c) The Office and inserting the following:
(c)Promotion of sales opportunitiesThe Associate Administrator
;
(B)by redesignating paragraphs (1) through (8) as paragraphs (2) through (9), respectively;
(C)by inserting before paragraph (2), as so redesignated, the following:
(1)establish annual goals for the Office relating to—
(A)enhancing the exporting capability of small business concerns and small manufacturers;
(B)facilitating technology transfers;
(C)enhancing programs and services to assist small business concerns and small manufacturers to compete effectively and efficiently against foreign entities;
(D)increasing the ability of small business concerns to access capital;
(E)disseminating information concerning Federal, State, and private programs and initiatives; and
(F)ensuring that the interests of small business concerns are adequately represented in trade negotiations;
;
(D)in paragraph (2), as so redesignated, by striking mechanism for and all that follows through (D) assisting and inserting the following:
mechanism for—
(A)identifying subsectors of the small business community with strong export potential;
(B)identifying areas of demand in foreign markets;
(C)prescreening foreign buyers for commercial and credit purposes; and
(D)assisting
;
(E)in paragraph (3), as so redesignated, by striking assist small businesses in the formation and utilization of and inserting assist small business concerns in forming and using;
(F)in paragraph (4), as so redesignated—
(i)by striking local and inserting district;
(ii)by striking existing;
(iii)by striking Small Business Development Center network and inserting small business development center network; and
(iv)by striking Small Business Development Center Program and inserting small business development center program;
(G)in paragraph (5), as so redesignated—
(i)in subparagraph (A), by striking Gross State Produce and inserting Gross State Product;
(ii)in subparagraph (B), by striking SIC each place it appears and inserting North American Industry Classification System; and
(iii)in subparagraph (C), by striking small businesses and inserting small business concerns;
(H)in paragraph (6), as so redesignated, by striking the period at the end and inserting a semicolon;
(I)in paragraph (7), as so redesignated—
(i)in the matter preceding subparagraph (A)— (I)by inserting concerns after small business; and (II)by striking current and inserting up to date;
(ii)in subparagraph (A), by striking Administration's regional offices and inserting regional and district offices of the Administration;
(iii)in subparagraph (B) by striking current;
(iv)in subparagraph (C), by striking current; and
(v)by striking small businesses each place that term appears and inserting small business concerns;
(J)in paragraph (8), as so redesignated, by striking and at the end;
(K)in paragraph (9), as so redesignated—
(i)in the matter preceding subparagraph (A)— (I)by striking full-time export development specialists to each Administration regional office and assigning; and (II)by striking person in each district office. Such specialists and inserting individual in each district office and providing each Administration regional office with a full-time export development specialist, who;
(ii)in subparagraph (B)— (I)by striking current; and (II)by striking with and inserting in;
(iii)in subparagraph (D)— (I)by striking Administration personnel involved in granting and inserting personnel of the Administration involved in making; and (II)by striking and at the end;
(iv)in subparagraph (E)— (I)by striking small businesses' needs and inserting the needs of small business concerns; and (II)by striking the period at the end and inserting a semicolon;
(v)by adding at the end the following:
(F)participate, jointly with employees of the Office, in an annual training program that focuses on current small business needs for exporting; and
(G)develop and conduct training programs for exporters and lenders, in cooperation with the Export Assistance Centers, the Department of Commerce, small business development centers, women's business centers, the Export-Import Bank of the United States, the Overseas Private Investment Corporation, and other relevant Federal agencies;
; and
(vi)by striking small businesses each place that term appears and inserting small business concerns; and
(L)by adding at the end the following:
(10)make available on the website of the Administration the name and contact information of each individual described in paragraph (9);
(11)carry out a nationwide marketing effort using technology, online resources, training, and other strategies to promote exporting as a business development opportunity for small business concerns;
(12)disseminate information to the small business community through regional and district offices of the Administration, the small business development center network, Export Assistance Centers, the network of women's business centers, chapters of the Service Corps of Retired Executives authorized by section 8(b)(1), State and local export promotion programs, and partners in the private sector regarding exporting trends, market-specific growth, industry trends, and prospects for exporting; and
(13)establish and carry out training programs for the staff of the regional and district offices of the Administration and resource partners of the Administration on export promotion and providing assistance relating to exports.
;
(3)in subsection (d)—
(A)by redesignating paragraphs (1) through (5) as clauses (i) through (v), respectively, and adjusting the margins accordingly;
(B)by striking (d) The Office and inserting the following:
(d)Export financing programs
(1)In generalThe Associate Administrator
; and
(C)by striking To accomplish this goal, the Office shall work and inserting the following:
(2)Trade finance specialistTo accomplish the goal established under paragraph (1), the Associate Administrator shall—
(A)designate at least 1 individual within the Administration as a trade finance specialist to oversee international loan programs and assist Administration employees with trade finance issues; and
(B)work
;
(4)in subsection (e), by striking (e) The Office and inserting the following:
(e)Trade RemediesThe Associate Administrator
;
(5)by amending subsection (f) to read as follows:
(f)Reporting requirementThe Associate 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)a description of the progress of the Office in implementing the requirements of this section;
(2)a detailed account of the results of export growth activities of the Administration, including the activities of each district and regional office of the Administration, based on the performance measures described in subsection (i);
(3)an estimate of the total number of jobs created or retained as a result of export assistance provided by the Administration and resource partners of the Administration;
(4)for any travel by the staff of the Office, the destination of such travel and the benefits to the Administration and to small business concerns resulting from such travel; and
(5)a description of the participation by the Office in trade negotiations.
;
(6)in subsection (g), by striking (g) The Office and inserting the following:
(g)StudiesThe Associate Administrator
; and
(7)by adding after subsection (h), as added by section 303 of this Act, the following:
(i)Export and trade counseling
(1)DefinitionIn this subsection—
(A)the term lead small business development center means a small business development center that has received a grant from the Administration; and
(B)the term lead women's business center means a women's business center that has received a grant from the Administration.
(2)Certification programThe Administrator shall establish an export and trade counseling certification program to certify employees of lead small business development centers and lead women's business centers in providing export assistance to small business concerns.
(3)Number of certified employeesThe Administrator shall ensure that the number of employees of each lead small business development center who are certified in providing export assistance is not less than the lesser of—
(A)5; or
(B)10 percent of the total number of employees of the lead small business development center.
(4)Reimbursement for certification
(A)In generalSubject to the availability of appropriations, the Administrator shall reimburse a lead small business development center or a lead women's business center for costs relating to the certification of an employee of the lead small business center or lead women's business center in providing export assistance under the program established under paragraph (2).
(B)LimitationThe total amount reimbursed by the Administrator under subparagraph (A) may not exceed $350,000 in any fiscal year.
(j)Performance measures
(1)In generalThe Associate Administrator shall develop performance measures for the Administration to support export growth goals for the activities of the Office under this section that include—
(A)the number of small business concerns that—
(i)receive assistance from the Administration;
(ii)had not exported goods or services before receiving the assistance described in clause (i); and
(iii)export goods or services;
(B)the number of small business concerns receiving assistance from the Administration that export goods or services to a market outside the United States into which the small business concern did not export before receiving the assistance;
(C)export revenues by small business concerns assisted by programs of the Administration;
(D)the number of small business concerns referred to an Export Assistance Center or a small business development center by the staff of the Office;
(E)the number of small business concerns referred to the Administration by an Export Assistance Center or a small business development center; and
(F)the number of small business concerns referred to the Export-Import Bank of the United States or to the Overseas Private Investment Corporation by the staff of the Office, an Export Assistance Center, or a small business development center.
(2)Joint performance measuresThe Associate Administrator shall develop joint performance measures for the district offices of the Administration and the Export Assistance Centers that include the number of export loans made under—
(A)section 7(a)(16);
(B)the Export Working Capital Program established under section 7(a)(14);
(C)the Preferred Lenders Program, as defined in section 7(a)(2)(C)(ii); and
(D)the export express program established under section 7(a)(34).
(3)Consistency of trackingThe Associate Administrator, in coordination with the departments and agencies that are represented on the Trade Promotion Coordinating Committee established under section 2312 of the Export Enhancement Act of 1988 (15 U.S.C. 4727) and the small business development center network, shall develop a system to track exports by small business concerns, including information relating to the performance measures developed under paragraph (1), that is consistent with systems used by the departments and agencies and the network.
.
(b)Trade disputesThe Administrator shall carry out a comprehensive program to provide technical assistance, counseling, and reference materials to small business concerns relating to resources, procedures, and requirements for mechanisms to resolve international trade disputes or address unfair international trade practices under international trade agreements or Federal law, including—
(1)directing the district offices of the Administration to provide referrals, information, and other services to small business concerns relating to the mechanisms;
(2)entering agreements and partnerships with providers of legal services relating to the mechanisms, to ensure small business concerns may affordably use the mechanisms; and
(3)in consultation with the Director of the United States Patent and Trademark Office and the Register of Copyrights, designing counseling services and materials for small business concerns regarding intellectual property protection in other countries.
(c)ReportNot later than 60 days after the date of enactment of this Act, the Administrator 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 on any travel by the staff of the Office of International Trade of the Administration, during the period beginning on October 1, 2004, and ending on the date of enactment of the Act, including the destination of such travel and the benefits to the Administration and to small business concerns resulting from such travel.
305.Export assistance centers
(a)Export assistance centersSection 22 of the Small Business Act (15 U.S.C. 649), as amended by section 304 of this Act, is amended by adding at the end the following:
(k)Export assistance centers
(1)Export finance specialists
(A)Minimum number of export finance specialistsOn and after January 1, 2010, the Administrator, in coordination with the Secretary of Commerce, shall ensure that the number of export finance specialists is not less than the number of such employees so assigned on January 1, 2003.
(B)Export finance specialists assigned to each region of the AdministrationOn and after the date that is 2 years after the date of enactment of this subsection, the Administrator, in coordination with the Secretary of Commerce, shall ensure that there are not fewer than 3 export finance specialists in each region of the Administration.
(2)Placement of export finance specialists
(A)PriorityThe Administrator shall give priority, to the maximum extent practicable, to placing employees of the Administration at any Export Assistance Center that—
(i)had an Administration employee assigned to the Export Assistance Center before January 2003; and
(ii)has not had an Administration employee assigned to the Export Assistance Center during the period beginning January 2003, and ending on the date of enactment of this subsection, either through retirement or reassignment.
(B)Needs of exportersThe Administrator shall, to the maximum extent practicable, strategically assign Administration employees to Export Assistance Centers, based on the needs of exporters.
(C)Rule of constructionNothing in this subsection may be construed to require the Administrator to reassign or remove an export finance specialist who is assigned to an Export Assistance Center on the date of enactment of this subsection.
(3)GoalsThe Associate Administrator shall work with the Department of Commerce, the Export-Import Bank of the United States, and the Overseas Private Investment Corporation to establish shared annual goals for the Export Assistance Centers.
(4)OversightThe Associate Administrator shall designate an individual within the Administration to oversee all activities conducted by Administration employees assigned to Export Assistance Centers.
(l)DefinitionsIn this section—
(1)the term Associate Administrator means the Associate Administrator for International Trade described in subsection (a)(2);
(2)the term Export Assistance Center means a one-stop shop for United States exporters established by the United States and Foreign Commercial Service of the Department of Commerce pursuant to section 2301(b)(8) of the Omnibus Trade and Competitiveness Act of 1988 (15 U.S.C. 4721(b)(8));
(3)the term export finance specialist means a full-time equivalent employee of the Office assigned to an Export Assistance Center to carry out the duties described in subsection (e); and
(4)the term Office means the Office of International Trade established under subsection (a)(1).
.
(b)Study and report on filling gaps in high- and Low-Export volume areas
(1)Study and reportNot later than 6 months after the date of enactment of this Act, and every 2 years thereafter, the Administrator shall—
(A)conduct a study of—
(i)the volume of exports for each State;
(ii)the availability of export finance specialists in each State;
(iii)the number of exporters in each State that are small business concerns;
(iv)the percentage of exporters in each State that are small business concerns;
(v)the change, if any, in the number of exporters that are small business concerns in each State— (I)for the first study conducted under this subparagraph, during the 10-year period ending on the date of enactment of this Act; and (II)for each subsequent study, during the 10-year period ending on the date the study is commenced;
(vi)the total value of the exports in each State by small business concerns;
(vii)the percentage of the total volume of exports in each State that is attributable to small business concerns; and
(viii)the change, if any, in the percentage of the total volume of exports in each State that is attributable to small business concerns— (I)for the first study conducted under this subparagraph, during the 10-year period ending on the date of enactment of this Act; and (II)for each subsequent study, during the 10-year period ending on the date the study is commenced; and
(B)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 containing—
(i)the results of the study under subparagraph (A);
(ii)to the extent practicable, a recommendation regarding how to eliminate gaps between the supply of and demand for export finance specialists in the 15 States that have the greatest volume of exports, based upon the most recent data available from the Department of Commerce;
(iii)to the extent practicable, a recommendation regarding how to eliminate gaps between the supply of and demand for export finance specialists in the 15 States that have the lowest volume of exports, based upon the most recent data available from the Department of Commerce; and
(iv)such additional information as the Administrator determines is appropriate.
(2)DefinitionIn this subsection, the term export finance specialist has the meaning given that term in section 22(l) of the Small Business Act, as added by this Act.
306.International trade finance programs
(a)Loan limits
(1)Total amount outstandingSection 7(a)(3)(B) of the Small Business Act (15 U.S.C. 636(a)(3)(B)) is amended by striking $1,750,000, of which not more than $1,250,000 and inserting $4,500,000 (or if the gross loan amount would exceed $5,000,000), of which not more than $4,000,000.
(2)ParticipationSection 7(a)(2) of the Small Business Act (15 U.S.C. 636(a)(2)) is amended—
(A)in subparagraph (A), in the matter preceding clause (i), by striking subparagraph (B) and inserting subparagraphs (B), (D), and (E);
(B)in subparagraph (D), by striking Notwithstanding subparagraph (A), in and inserting In; and
(C)by adding at the end the following:
(E)Participation in international trade loanIn an agreement to participate in a loan on a deferred basis under paragraph (16), the participation by the Administration may not exceed 90 percent.
.
(b)Working capitalSection 7(a)(16)(A) of the Small Business Act (15 U.S.C. 636(a)(16)(A)) is amended—
(1)in the matter preceding clause (i), by striking in— and inserting ;
(2)in clause (i)—
(A)by inserting in after (i); and
(B)by striking or at the end;
(3)in clause (ii)—
(A)by inserting in after (ii); and
(B)by striking the period at the end and inserting , including any debt that qualifies for refinancing under any other provision of this subsection; or; and
(4)by adding at the end the following:
(iii)by providing working capital.
.
(c)CollateralSection 7(a)(16)(B) of the Small Business Act (15 U.S.C. 636(a)(16)(B)) is amended—
(1)by striking Each loan and inserting the following:
(i)In generalExcept as provided in clause (ii), each loan
; and
(2)by adding at the end the following:
(ii)ExceptionA loan under this paragraph may be secured by a second lien position on the property or equipment financed by the loan or on other assets of the small business concern, if the Administrator determines the lien provides adequate assurance of the payment of the loan.
.
(d)Export working capital programSection 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—
(1)in paragraph (2)(D), by striking not exceed and inserting be; and
(2)in paragraph (14)—
(A)by striking (A) The Administration and inserting the following: “Export working capital program.—
(A)In generalThe Administrator
;
(B)by striking (B) When considering and inserting the following:
(C)ConsiderationsWhen considering
;
(C)by striking (C) The Administration and inserting the following:
(D)MarketingThe Administrator
; and
(D)by inserting after subparagraph (A) the following:
(B)Terms
(i)Loan amountThe Administrator may not guarantee a loan under this paragraph of more than $5,000,000.
(ii)Fees (I)In generalFor a loan under this paragraph, the Administrator shall collect the fee assessed under paragraph (23) not more frequently than once each year. (II)Untapped creditThe Administrator may not assess a fee on capital that is not accessed by the small business concern.
.
(e)Participation in Preferred Lenders ProgramSection 7(a)(2)(C) of the Small Business Act (15 U.S.C. 636(a)(2)(C)) is amended—
(1)by redesignating clause (ii) as clause (iii); and
(2)by inserting after clause (i) the following:
(ii)Export-Import Bank lendersAny lender that is participating in the Delegated Authority Lender Program of the Export-Import Bank of the United States (or any successor to the Program) shall be eligible to participate in the Preferred Lenders Program.
.
(f)Export Express ProgramSection 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended—
(1)by striking (32) Increased veteran and inserting (33) Increased veteran; and
(2)by adding at the end the following:
(34)Export Express Program
(A)DefinitionsIn this paragraph—
(i)the term export development activity includes— (I)obtaining a standby letter of credit when required as a bid bond, performance bond, or advance payment guarantee; (II)participation in a trade show that takes place outside the United States; (III)translation of product brochures or catalogues for use in markets outside the United States; (IV)obtaining a general line of credit for export purposes; (V)performing a service contract from buyers located outside the United States; (VI)obtaining transaction-specific financing associated with completing export orders; (VII)purchasing real estate or equipment to be used in the production of goods or services for export; (VIII)providing term loans or other financing to enable a small business concern, including an export trading company and an export management company, to develop a market outside the United States; and (IX)acquiring, constructing, renovating, modernizing, improving, or expanding a production facility or equipment to be used in the United States in the production of goods or services for export; and
(ii)the term express loan means a loan in which a lender uses to the maximum extent practicable the loan analyses, procedures, and documentation of the lender to provide expedited processing of the loan application.
(B)AuthorityThe Administrator may guarantee the timely payment of an express loan to a small business concern made for an export development activity.
(C)Level of participation
(i)Maximum amountThe maximum amount of an express loan guaranteed under this paragraph shall be $500,000.
(ii)PercentageFor an express loan guaranteed under this paragraph, the Administrator shall guarantee— (I)90 percent of a loan that is not more than $350,000; and (II)75 percent of a loan that is more than $350,000 and not more than $500,000.
.
(g)Annual listing of export finance lendersSection 7(a)(16) of the Small Business Act (15 U.S.C. 636(a)(16)) is amended by adding at the end the following:
(F)List of export finance lenders
(i)Publication of list requiredThe Administrator shall publish an annual list of the banks and participating lending institutions that, during the 1-year period ending on the date of publication of the list, have made loans guaranteed by the Administration under— (I)this paragraph; (II)paragraph (14); or (III)paragraph (34).
(ii)Availability of listThe Administrator shall— (I)post the list published under clause (i) on the website of the Administration; and (II)make the list published under clause (i) available, upon request, at each district office of the Administration.
.
(h)ApplicabilityThe amendments made by subsections (a) through (f) shall apply with respect to any loan made after the date of enactment of this Act.
307.State Trade and Export Promotion Grant Program
(a)DefinitionsIn this section—
(1)the term eligible small business concern means a small business concern that—
(A)has been in business for not less than the 1-year period ending on the date on which assistance is provided using a grant under this section;
(B)is operating profitably, based on operations in the United States;
(C)has demonstrated understanding of the costs associated with exporting and doing business with foreign purchasers, including the costs of freight forwarding, customs brokers, packing and shipping, as determined by the Associate Administrator;
(D)has in effect a strategic plan for exporting; and
(E)agrees to provide to the Associate Administrator such information and documentation as is necessary for the Associate Administrator to determine that the small business concern is in compliance with the internal revenue laws of the United States;
(2)the term program means the State Trade and Export Promotion Grant Program established under subsection (b);
(3)the term small business concern owned and controlled by women has the meaning given that term in section 3 of the Small Business Act (15 U.S.C. 632);
(4)the term socially and economically disadvantaged small business concern has the meaning given that term in section 8(a)(4)(A) of the Small Business Act (15 U.S.C. 6537(a)(4)(A)); and
(5)the term State means each of the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Virgin Islands, Guam, and American Samoa.
(b)Establishment of programThe Associate Administrator shall establish a 3-year trade and export promotion pilot program to be known as the State Trade and Export Promotion Grant Program, to make grants to States to carry out export programs that assist eligible small business concerns in—
(1)participation in a foreign trade mission;
(2)a foreign market sales trip;
(3)a subscription to services provided by the Department of Commerce;
(4)the payment of website translation fees;
(5)the design of international marketing media;
(6)a trade show exhibition;
(7)participation in training workshops; or
(8)any other export initiative determined appropriate by the Associate Administrator.
(c)Grants
(1)Joint reviewIn carrying out the program, the Associate Administrator may make a grant to a State to increase the number of eligible small business concerns in the State that export or to increase the value of the exports by eligible small business concerns in the State.
(2)ConsiderationsIn making grants under this section, the Associate Administrator may give priority to an application by a State that proposes a program that—
(A)focuses on eligible small business concerns as part of an export promotion program;
(B)demonstrates success in promoting exports by—
(i)socially and economically disadvantaged small business concerns;
(ii)small business concerns owned or controlled by women; and
(iii)rural small business concerns;
(C)promotes exports from a State that is not 1 of the 10 States with the highest percentage of exporters that are small business concerns, based upon the latest data available from the Department of Commerce; and
(D)promotes new-to-market export opportunities to the People’s Republic of China for eligible small business concerns in the United States.
(3)Limitations
(A)Single applicationA State may not submit more than 1 application for a grant under the program in any 1 fiscal year.
(B)Proportion of amountsThe total value of grants under the program made during a fiscal year to the 10 States with the highest percentage of exporters that are small business concerns, based upon the latest data available from the Department of Commerce, shall be not more than 50 percent of the amounts appropriated for the program for that fiscal year.
(4)ApplicationA State desiring a grant under the program shall submit an application at such time, in such manner, and accompanied by such information as the Associate Administrator may establish.
(d)Competitive basisThe Associate Administrator shall award grants under the program on a competitive basis.
(e)Federal shareThe Federal share of the cost of an export program carried out using a grant under the program shall be—
(1)for a State that has a high export volume, as determined by the Associate Administrator, not more than 65 percent; and
(2)for a State that does not have a high export volume, as determined by the Associate Administrator, not more than 75 percent.
(f)Reports
(1)Initial reportNot later than 120 days after the date of enactment of this Act, 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, which shall include—
(A)a description of the structure of and procedures for the program;
(B)a management plan for the program; and
(C)a description of the merit-based review process to be used in the program.
(2)Annual reportsThe Associate 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 regarding the program, which shall include—
(A)the number and amount of grants made under the program during the preceding year;
(B)a list of the States receiving a grant under the program during the preceding year, including the activities being performed with grant; and
(C)the effect of each grant on exports by eligible small business concerns in the State receiving the grant.
(g)Reviews by inspector general
(1)In generalThe Inspector General of the Administration shall conduct a review of—
(A)the extent to which recipients of grants under the program are measuring the performance of the activities being conducted and the results of the measurements; and
(B)the overall management and effectiveness of the program.
(2)ReportNot later than September 30, 2012, the Inspector General 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 regarding the review conducted under paragraph (1).
(h)Authorization of appropriationsThere is authorized to be appropriated to carry out the program $15,000,000 for each of fiscal years 2010, 2011, and 2012.
(i)TerminationThe authority to carry out the program shall terminate 3 years after the date on which the Associate Administrator establishes the program.
308.Rural export promotionNot later than 6 months after the date of enactment of this Act, the Administrator, in consultation with the Secretary of Agriculture and the Secretary of Commerce, 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 that contains—
(1)a description of each program of the Administration that promotes exports by rural small business concerns, including—
(A)the number of rural small business concerns served by the program;
(B)the change, if any, in the number of rural small business concerns as a result of participation in the program during the 10-year period ending on the date of enactment of this Act;
(C)the volume of exports by rural small business concerns that participate in the program; and
(D)the change, if any, in the volume of exports by rural small businesses that participate in the program during the 10-year period ending on the date of enactment of this Act;
(2)a description of the coordination between programs of the Administration and other Federal programs that promote exports by rural small business concerns;
(3)recommendations, if any, for improving the coordination described in paragraph (2);
(4)a description of any plan by the Administration to market the international trade financing programs of the Administration through lenders that—
(A)serve rural small business concerns; and
(B)are associated with financing programs of the Department of Agriculture;
(5)recommendations, if any, for improving coordination between the counseling programs and export financing programs of the Administration, in order to increase the volume of exports by rural small business concerns; and
(6)any additional information the Administrator determines is necessary.
309.International trade cooperation by small business development centersSection 21(a) of the Small Business Act (15 U.S.C. 648(a)) is amended—
(1)by striking (2) The Small Business Development Centers and inserting the following:
(2)Cooperation to provide international trade services
(A)Information and servicesThe small business development centers
; and
(2)in paragraph (2)—
(A)in subparagraph (A), as so designated, by inserting (including State trade agencies), after local agencies; and
(B)by adding at the end the following:
(B)Cooperation with State trade agencies and Export Assistance CentersA small business development center that counsels a small business concern on issues relating to international trade shall—
(i)consult with State trade agencies and Export Assistance Centers to provide appropriate services to the small business concern; and
(ii)as necessary, refer the small business concern to a State trade agency or an Export Assistance Center for further counseling or assistance.
(C)DefinitionIn this paragraph, the term Export Assistance Center has the same meaning as in section 22.
.
IVSmall business regulatory reform
401.Short titleThis title may be cited as the Job Impact Analysis Act of 2010.
402.FindingsCongress finds the following:
(1)A vibrant and growing small business sector is critical to the recovery of the economy of the United States.
(2)Regulations designed for application to large-scale entities have been applied uniformly to small businesses and other small entities, sometimes inhibiting the ability of small entities to create new jobs.
(3)Uniform Federal regulatory and reporting requirements in many instances have imposed on small businesses and other small entities unnecessary and disproportionately burdensome demands, including legal, accounting, and consulting costs, thereby threatening the viability of small entities and the ability of small entities to compete and create new jobs in a global marketplace.
(4)Since 1980, Federal agencies have been required to recognize and take account of the differences in the scale and resources of regulated entities, but in many instances have failed to do so.
(5)In 2009, there were nearly 70,000 pages in the Federal Register, and, according to research by the Office of Advocacy of the Small Business Administration, the annual cost of Federal regulations totals $1,100,000,000,000. Small firms bear a disproportionate burden, paying approximately 45 percent, or $7,647, more per employee than larger firms in annual regulatory compliance costs.
(6)The Federal Government should fully consider the costs, including indirect economic impacts and the potential for job creation and job loss, of proposed rules.
(7)It is the intention of Congress to amend chapter 6 of title 5, United States Code, to ensure that all impacts, including foreseeable indirect effects, of proposed and final rules are considered by agencies during the rulemaking process and that the agencies assess a full range of alternatives that will limit adverse economic consequences, enhance economic benefits, and fully address potential job creation or job loss.
(8)To the maximum extent practicable, the Director of the Congressional Budget Office should, in certain estimates the Director prepares with respect to bills or joint resolutions reported by congressional committees, estimate the potential job creation or job loss attributable to the bills or joint resolutions.
403.Job impact statement for reported bills and joint resolutionsSection 424 of the Congressional Budget and Impoundment Control Act of 1974 (2 U.S.C. 658c) is amended—
(1)in subsection (a)(2)—
(A)in subparagraph (B), by striking and at the end;
(B)in subparagraph (C), by striking the period at the end and inserting ; and; and
(C)by adding at the end the following:
(D)if the Director estimates that the total amount of direct costs of all Federal intergovernmental mandates in the bill or joint resolution will equal or exceed $5,000,000,000 (adjusted annually for inflation), to the extent practicable, the potential job creation or job loss in State, local, and tribal governments as a result of the mandates.
; and
(2)in subsection (b)(2)—
(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)if the Director estimates that the total amount of direct costs of all Federal private sector mandates in the bill or joint resolution will equal or exceed $5,000,000,000 (adjusted annually for inflation), to the extent practicable, the potential job creation or job loss in the private sector as a result of the mandates.
.
404.Clarification and expansion of rules covered by the Regulatory Flexibility ActSection 601 of title 5, United States Code, is amended—
(1)in paragraph (6), by striking and at the end;
(2)in paragraph (7)(B), by striking the period at the end and inserting a semicolon;
(3)in paragraph (8)—
(A)by striking Recordkeeping requirement.—The and inserting the; and
(B)by striking the period at the end and inserting ; and; and
(4)by adding at the end the following:
(9)the term economic impact means, with respect to a proposed or final rule—
(A)any direct economic effect of the rule on small entities; and
(B)any indirect economic effect on small entities, including potential job creation or job loss, that is reasonably foreseeable and that results from the rule, without regard to whether small entities are directly regulated by the rule.
.
405.Requirements providing for more detailed analyses
(a)Initial regulatory flexibility analysisSection 603 of title 5, United States Code, is amended—
(1)by striking subsection (b) and inserting the following:
(b)Each initial regulatory flexibility analysis required under this section shall contain a detailed statement—
(1)describing the reasons why action by the agency is being considered;
(2)describing the objectives of, and legal basis for, the proposed rule;
(3)estimating the number and type of small entities to which the proposed rule will apply;
(4)describing the projected reporting, recordkeeping, and other compliance requirements of the proposed rule, including an estimate of the classes of small entities which will be subject to the requirement and the type of professional skills necessary for preparation of the report and record;
(5)describing all relevant Federal rules which may duplicate, overlap, or conflict with the proposed rule, or the reasons why such a description could not be provided; and
(6)estimating the additional cumulative economic impact of the proposed rule on small entities, including job creation and employment by small entities, beyond that already imposed on the class of small entities by the agency, or the reasons why such an estimate is not available.
; and
(2)by adding at the end the following:
(d)An agency shall notify the Chief Counsel for Advocacy of the Small Business Administration of any draft rules that may have a significant economic impact on a substantial number of small entities—
(1)not later than the date on which the agency submits a draft rule to the Office of Information and Regulatory Affairs at the Office of Management and Budget under Executive Order 12866, if that order requires such submission; or
(2)if no submission to the Office of Information and Regulatory Affairs is so required, at a reasonable time prior to publication of the rule by the agency.
.
(b)Final regulatory flexibility analysis
(1)In generalSection 604(a) of title 5, United States Code, is amended—
(A)by inserting detailed before description each place it appears;
(B)in paragraph (1), by striking succinct;
(C)in paragraph (2)—
(i)by striking summary each place it appears and inserting statement; and
(ii)by inserting (or certification of the proposed rule under section 605(b)) after initial regulatory flexibility analysis;
(D)in paragraph (3), by striking an explanation and inserting a detailed explanation;
(E)by redesignating paragraphs (3), (4), and (5) as paragraphs (4), (5), and (6), respectively; and
(F)by inserting after paragraph (2) the following:
(3)the response of the agency to any comments filed by the Chief Counsel for Advocacy of the Small Business Administration in response to the proposed rule, and a detailed statement of any change made to the proposed rule in the final rule as a result of the comments;
.
(2)Publication of analysis on web site, etcSection 604(b) of title 5, United States Code, is amended to read as follows:
(b)The agency shall—
(1)make copies of the final regulatory flexibility analysis available to the public, including by publishing the entire final regulatory flexibility analysis on the Web site of the agency; and
(2)publish in the Federal Register the final regulatory flexibility analysis, or a summary of the analysis that includes the telephone number, mailing address, and address of the Web site where the complete final regulatory flexibility analysis may be obtained.
.
(c)Cross-References to other analysesSection 605(a) of title 5, United States Code, is amended to read as follows:
(a)A Federal agency shall be deemed to have satisfied a requirement regarding the content of a regulatory flexibility agenda or regulatory flexibility analysis under section 602, 603, or 604, if the Federal agency provides in the agenda or regulatory flexibility analysis a cross-reference to the specific portion of an agenda or analysis that is required by another law and that satisfies the requirement.
.
(d)CertificationsThe second sentence of section 605(b) of title 5, United States Code, is amended by striking statement providing the factual and inserting detailed statement providing the factual and legal.
(e)Quantification requirementsSection 607 of title 5, United States Code, is amended to read as follows:
607.Quantification requirementsIn complying with sections 603 and 604, an agency shall provide—
(1)a quantifiable or numerical description of the effects of the proposed or final rule, including an estimate of the potential for job creation or job loss, and alternatives to the proposed or final rule; or
(2)a more general descriptive statement and a detailed statement explaining why quantification is not practicable or reliable.
.
406.Periodic review of rulesSection 610 of title 5, United States Code, is amended to read as follows:
610.Periodic review of rules
(a)Not later than 180 days after the enactment of the Job Impact Analysis Act of 2010, each agency shall publish in the Federal Register and place on its Web site a plan for the periodic review of rules issued by the agency that the head of the agency determines has a significant economic impact on a substantial number of small entities. Such determination shall be made without regard to whether the agency performed an analysis under section 604. The purpose of the review shall be to determine whether such rules should be continued without change, or should be amended or rescinded, consistent with the stated objectives of applicable statutes, to minimize any significant adverse economic impacts on a substantial number of small entities (including an estimate of any adverse impacts on job creation and employment by small entities). Such plan may be amended by the agency at any time by publishing the revision in the Federal Register and subsequently placing the amended plan on the Web site of the agency.
(b)The plan shall provide for the review of all such agency rules existing on the date of the enactment of the Job Impact Analysis Act of 2010 within 10 years after the date of publication of the plan in the Federal Register and every 10 years thereafter and for review of rules adopted after the date of enactment of the Job Impact Analysis Act of 2010 within 10 years after the publication of the final rule in the Federal Register and every 10 years thereafter. If the head of the agency determines that completion of the review of existing rules is not feasible by the established date, the head of the agency shall so certify in a statement published in the Federal Register and may extend the review for not longer than 2 years after publication of notice of extension in the Federal Register. Such certification and notice shall be sent to the Chief Counsel for Advocacy and Congress.
(c)Each agency shall annually submit a report regarding the results of its review pursuant to such plan to Congress and, in the case of agencies other than independent regulatory agencies (as defined in section 3502(5) of title 44, United States Code), to the Administrator of the Office of Information and Regulatory Affairs of the Office of Management and Budget. Such report shall include the identification of any rule with respect to which the head of the agency made a determination of infeasibility under paragraph (5) or (6) of subsection (d) and a detailed explanation of the reasons for such determination.
(d)In reviewing rules under such plan, the agency shall consider—
(1)the continued need for the rule;
(2)the nature of complaints received by the agency from small entities concerning the rule;
(3)comments by the Regulatory Enforcement Ombudsman and the Chief Counsel for Advocacy;
(4)the complexity of the rule;
(5)the extent to which the rule overlaps, duplicates, or conflicts with other Federal rules and, unless the head of the agency determines it to be infeasible, State and local rules;
(6)the contribution of the rule to the cumulative economic impact of all Federal rules on the class of small entities affected by the rule, unless the head of the agency determines that such calculations cannot be made and reports that determination in the annual report required under subsection (c);
(7)the length of time since the rule has been evaluated, or the degree to which technology, economic conditions, or other factors have changed in the area affected by the rule; and
(8)the current impact of the rule, including—
(A)the estimated number of small entities to which the rule will apply;
(B)the estimated number of small business jobs that will be lost or created by the rule; and
(C)the projected reporting, recordkeeping and other compliance requirements of the proposed rule, including—
(i)an estimate of the classes of small entities that will be subject to the requirement; and
(ii)the type of professional skills necessary for preparation of the report or record.
(e)The agency shall publish in the Federal Register and on the Web site of the agency a list of rules to be reviewed pursuant to such plan. Such publication shall include a brief description of the rule, the reason why the agency determined that it has a significant economic impact on a substantial number of small entities (without regard to whether the agency had prepared a final regulatory flexibility analysis for the rule), and request comments from the public, the Chief Counsel for Advocacy, and the Regulatory Enforcement Ombudsman concerning the enforcement of the rule.
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407.Office of Advocacy
(a)In generalSection 203 of Public Law 94–305 (15 U.S.C. 634c) is amended—
(1)in paragraph (4), by striking and at the end;
(2)in paragraph (5), by striking the period and inserting ; and; and
(3)by adding at the end the following:
(6)carry out the responsibilities of the Office of Advocacy under chapter 6 of title 5, United States Code.
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(b)Budgetary line item and authorization of appropriationsTitle II of Public Law 94–305 (15 U.S.C. 634a et seq.) is amended by striking section 207 and inserting the following:
207.Budgetary line item and authorization of appropriations
(a)Appropriation requestsEach budget of the United States Government submitted by the President under section 1105 of title 31, United States Code, shall include a separate statement of the amount of appropriations requested for the Office of Advocacy of the Small Business Administration, which shall be designated in a separate account in the General Fund of the Treasury.
(b)Administrative operationsThe Administrator of the Small Business Administration shall provide the Office of Advocacy with appropriate and adequate office space at central and field office locations, together with such equipment, operating budget, and communications facilities and services as may be necessary, and shall provide necessary maintenance services for such offices and the equipment and facilities located in such offices.
(c)Authorization of appropriationsThere are authorized to be appropriated such sums as are necessary to carry out this title. Any amount appropriated under this subsection shall remain available, without fiscal year limitation, until expended.
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408.Clerical amendments
(a)HeadingThe heading of section 605 of title 5, United States Code, is amended to read as follows:
605.Incorporations by reference and certifications
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(b)Table of sectionsThe table of sections for chapter 6 of title 5, United States Code, is amended—
(1)by striking the item relating to section 605 and inserting the following:
605. Incorporations by reference and certifications.
;
and
(2)by striking the item relating to section 607 and inserting the following:
607. Quantification requirements.
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VOther provisions
501.Funds for SBDCs
(a)In generalThere is appropriated, out of any funds in the Treasury not otherwise appropriated, for an additional amount for Small Business Administration—Salaries and Expenses, $50,000,000, to remain available until January 1, 2012, for grants to small business development centers under section 21 of the Small Business Act (15 U.S.C. 648) to provide targeted technical assistance to small business concerns (as defined under section 3 of the Small Business Act (15 U.S.C. 632)) seeking access to capital or credit, Federal procurement opportunities, energy efficiency audits to reduce energy bills, opportunities to export products or provide services to foreign customers, or other assistance.
(b)Allocation
(1)In generalSubject to paragraph (2), and notwithstanding the requirements of section 21(a)(4)(C)(iii) of the Small Business Act (15 U.S.C. 648(a)(4)(C)(iii)), the amount appropriated under subsection (a) shall be allocated under the formula under section 21(a)(4)(C)(i) of that Act.
(2)Minimum fundingThe amount made available under this section to each State shall be not less than $325,000.
(3)Types of usesOf the total amount of the grants awarded by the Administrator under this section—
(A)not less than 80 percent shall be used for counseling of small business concerns; and
(B)not more than 20 percent may be used for classes or seminars.
(c)No non-Federal share requiredNotwithstanding section 21(a)(4)(A) of the Small Business Act (15 U.S.C. 648(a)(4)(A)), the recipient of a grant made using amounts appropriated under subsection (a) shall not be required to provide non-Federal matching funds.
(d)DistributionNot later than 30 days after the date of enactment of this Act, the Administrator of the Small Business Administration shall disburse the total amount appropriated under subsection (a).
502.Temporary waiver authority for women's business center program
(a)DefinitionsIn this section—
(1)the term Administrator means the Administrator of the Small Business Administration;
(2)the term recipient organization means an organization receiving financial assistance from the Administrator under the women's business center program; and
(3)the term women's business center program means the women's business center program under section 29 of the Small Business Act (15 U.S.C. 656).
(b)AuthorityUpon request by a recipient organization, and in accordance with this section, the Administrator may waive, in whole or in part, the requirement to obtain non-Federal funds under section 29(c) of the Small Business Act (15 U.S.C. 656(c)) for the technical assistance and counseling activities of the recipient organization carried out using financial assistance under the women's business center program.
(c)ConsiderationsIn determining whether to waive the requirement to obtain non-Federal funds under this section, the Administrator shall consider—
(1)the economic conditions affecting the recipient organization;
(2)the impact a waiver under this section would have on the credibility of the women's business center program;
(3)the demonstrated ability of the recipient organization to raise non-Federal funds; and
(4)the performance of the recipient organization.
(d)LimitationThe Administrator may not waive the requirement to obtain non-Federal funds under this section if granting the waiver would undermine the credibility of the women's business center program.
(e)TerminationThe Administrator may not grant a waiver of the requirement to obtain non-Federal funds under this section on or after January 1, 2012.
VIFunding
601.OffsetNotwithstanding section 5 of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5; 123 Stat. 116), an amount equal to the total amount appropriated or made available under this Act is rescinded on a pro rata basis from unobligated amounts appropriated or made available under division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5; 123 Stat. 116).
602.Emergency designation
(a)StatutoryThis Act is designated as an emergency requirement pursuant to section 4(g) of the Statutory Pay-As-You-Go Act of 2010 (Public Law 111–139; 2 U.S.C. 933(g)).
(b)RulemakingThis Act is designated as an emergency requirement pursuant to section 403(a) of S. Con. Res. 13 (111th Congress), the concurrent resolution on the budget for fiscal year 2010.