Senate - 12/20/2016 By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report under authority of the order of the Senate of 12/10/2016. Report No. 114-422. (All Actions)
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This bill has the status Introduced
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Introduced
Array
(
[actionDate] => 2016-06-09
[displayText] => Committee on Small Business and Entrepreneurship. Reported by Senator Vitter with an amendment in the nature of a substitute. Without written report.
[externalActionCode] => 14000
[description] => Introduced
[chamberOfAction] => Senate
)
Shown Here: Reported to Senate with amendment(s) (06/09/2016)
National Guard and Reserve Entrepreneurship Support Act of 2016
(Sec. 2) This bill amends the Small Business Act and the Veterans Entrepreneurship and Small Business Development Act of 1999 to revise a condition on the extension of disaster loan assistance to a small business concern that has suffered, or that is likely to suffer, substantial economic injury as the result of an essential employee's being ordered to active military duty during a period of military conflict.
The condition "being ordered to active military duty during a period of military conflict" shall change to read "being ordered to deploy as part of active military duty." This change shall permit the extension of disaster assistance to a small business concern in such a circumstance even when deployment is not during a period of military conflict.
The same condition is revised in requirements for deferred repayment of principal and interest due on a direct loan to a qualified borrower who is an eligible armed forces reservist and who:
received a direct loan, including a disaster loan, from the Small Business Administration (SBA) before being ordered to active duty; or
is an essential employee ordered to active duty from a small business concern that received a direct loan, including a disaster loan, from the SBA.
The President shall report semiannually to specified congressional committees on the number of loans, and their dollar amount, made under the Military Reservist Economic Injury Disaster Loan program, including the subsidy rate of those loans.
(Sec. 3) The SBA shall to make grants and enter into contracts and cooperative agreements with specified public and private entities for outreach programs for the spouses of veterans and members of a reserve component of the armed forces.
In making such grants the SBA shall establish a National Guard and Reserve Deployment Support and Business Training Program to give training, counseling and other assistance to support members of a reserve component of the armed forces and their spouses.
In establishing this program the SBA may:
modify existing programs and resources to disseminate pre-deployment and other information specific to members of a reserve component of the Armed Forces and their spouses;
collaborate with the National Guard Bureau (NGB), State Adjutant Generals (or their designees), and other public and private partners; and
furnish training, information, and other resources to the NGB and State Adjutant Generals (or designees) to support members of a reserve component of the armed forces, their spouses, and the spouses of veterans.
