[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3302 Introduced in Senate (IS)]
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118th CONGRESS
1st Session
S. 3302
To waive the guarantee fee for certain business loans made to veterans
and spouses of veterans.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
November 14 (legislative day, November 13), 2023
Mrs. Shaheen introduced the following bill; which was read twice and
referred to the Committee on Small Business and Entrepreneurship
_______________________________________________________________________
A BILL
To waive the guarantee fee for certain business loans made to veterans
and spouses of veterans.
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 ``Heroes Business Opportunity Act of
2023''.
SEC. 2. WAIVER OF GUARANTEE FEE FOR CERTAIN BUSINESS LOANS MADE TO
VETERANS AND SPOUSES OF VETERANS.
Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is
amended--
(1) in paragraph (18)--
(A) in subparagraph (A), in the matter preceding
clause (i), by striking ``With respect'' and inserting
``Except as provided in subparagraph (C), with
respect''; and
(B) by adding at the end the following:
``(C) Exception.--
``(i) In general.--Notwithstanding
subparagraph (A), the Administration may not
collect a guarantee fee under subparagraph (A)
with respect to a loan guaranteed under this
subsection if--
``(I) the loan is not made under
paragraph (36) or (37);
``(II) the loan is made to a
veteran or spouse of a veteran; and
``(III) the deferred participation
share of the total loan amount is not
more than $1,000,000.
``(ii) Definition.--In this subparagraph,
the term `veteran or spouse of a veteran'
means--
``(I) a veteran;
``(II) an individual who is
eligible to participate in the
Transition Assistance Program
established under section 1144 of title
10, United States Code;
``(III) a member of a reserve
component of the Armed Forces named in
section 10101 of title 10, United
States Code;
``(IV) the spouse of an individual
described in subclause (I), (II), or
(III); or
``(V) the surviving spouse (as
defined in section 101 of title 38,
United States Code) of an individual
described in subclause (I), (II), or
(III) who died while serving on active
duty or as a result of a disability
that is service-connected (as defined
in such section).''; and
(2) in paragraph (31)--
(A) by striking subparagraph (G); and
(B) by redesignating subparagraph (H) as
subparagraph (G).
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