S 3572 ISCommentsClose CommentsPermalink

112th CONGRESSCommentsClose CommentsPermalink

2d SessionCommentsClose CommentsPermalink

S. 3572CommentsClose CommentsPermalink

To amend the Internal Revenue Code of 1986, title 5, United States Code, the Small Business Act, and the Small Business Investment Act of 1958 to provide certainty for small business concerns, and for other purposes.CommentsClose CommentsPermalink

IN THE SENATE OF THE UNITED STATESCommentsClose CommentsPermalink

September 19, 2012CommentsClose CommentsPermalink

Ms. SNOWE introduced the following bill; which was read twice and referred to the Committee on FinanceCommentsClose CommentsPermalink

A BILLCommentsClose CommentsPermalink

To amend the Internal Revenue Code of 1986, title 5, United States Code, the Small Business Act, and the Small Business Investment Act of 1958 to provide certainty for small business concerns, and for other purposes.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012’.CommentsClose CommentsPermalink

SEC. 2. TABLE OF CONTENTS.

The table of contents for this Act is as follows:CommentsClose CommentsPermalink





Sec. 1. Short title.CommentsClose CommentsPermalink





Sec. 2. Table of contents.CommentsClose CommentsPermalink

TITLE I--SMALL BUSINESS TAX EXTENDERS

Sec. 101. References.CommentsClose CommentsPermalink





Sec. 102. Extension of temporary exclusion of 100 percent of gain on certain small business stock.CommentsClose CommentsPermalink





Sec. 103. Extension of alternative minimum tax rules for general business credits of eligible small businesses.CommentsClose CommentsPermalink





Sec. 104. Extension of 5-year carryback of general business credits of eligible small businesses.CommentsClose CommentsPermalink





Sec. 105. Extension of reduction in S-corp recognition period for built-in gains tax.CommentsClose CommentsPermalink





Sec. 106. Extension of increased expensing limitations and treatment of certain real property as section 179 property.CommentsClose CommentsPermalink





Sec. 107. Extension of special rule for long-term contract accounting.CommentsClose CommentsPermalink





Sec. 108. Extension of increased amount allowed as a deduction for start-up expenditures.CommentsClose CommentsPermalink





Sec. 109. Extension of allowance of deduction for health insurance in computing self-employment taxes.CommentsClose CommentsPermalink

TITLE II--REGULATORY RELIEF

Sec. 201. Findings.CommentsClose CommentsPermalink





Sec. 202. Including indirect economic impact in small entity analyses.CommentsClose CommentsPermalink





Sec. 203. Judicial review to allow small entities to challenge proposed regulations.CommentsClose CommentsPermalink





Sec. 204. Periodic review.CommentsClose CommentsPermalink





Sec. 205. Requiring small business review panels for additional agencies.CommentsClose CommentsPermalink





Sec. 206. Expanding the Regulatory Flexibility Act to agency guidance documents.CommentsClose CommentsPermalink





Sec. 207. Requiring the Internal Revenue Service to consider small entity impact.CommentsClose CommentsPermalink





Sec. 208. Reporting on enforcement actions relating to small entities.CommentsClose CommentsPermalink





Sec. 209. Requiring more detailed small entity analyses.CommentsClose CommentsPermalink





Sec. 210. Ensuring that agencies consider small entity impact during the rulemaking process.CommentsClose CommentsPermalink





Sec. 211. Additional powers of the Office of Advocacy.CommentsClose CommentsPermalink





Sec. 212. Technical and conforming amendments.CommentsClose CommentsPermalink





Sec. 213. Regulatory transparency reporting.CommentsClose CommentsPermalink

TITLE III--ACCESS TO CAPITAL

Subtitle A--Expanding Access to Capital for Entrepreneurial Leaders

Sec. 311. Short title.CommentsClose CommentsPermalink





Sec. 312. Program authorization.CommentsClose CommentsPermalink





Sec. 313. Family of funds.CommentsClose CommentsPermalink





Sec. 314. Adjustment for inflation.CommentsClose CommentsPermalink





Sec. 315. Public availability of information.CommentsClose CommentsPermalink





Sec. 316. Authorized uses of licensing fees.CommentsClose CommentsPermalink





Sec. 317. Sense of Congress.CommentsClose CommentsPermalink

Subtitle B--Low-Interest Refinancing

Sec. 321. Low-interest refinancing under the local development business loan program.CommentsClose CommentsPermalink

TITLE IV--ENTREPRENEURIAL SUPPORT

Subtitle A--Measuring the Effectiveness of Resource Partners

Sec. 411. Expanding entrepreneurship.CommentsClose CommentsPermalink

Subtitle B--Women’s Small Business Ownership

Sec. 421. Short title.CommentsClose CommentsPermalink





Sec. 422. Definition.CommentsClose CommentsPermalink





Sec. 423. Office of Women’s Business Ownership.CommentsClose CommentsPermalink





Sec. 424. Women’s Business Center Program.CommentsClose CommentsPermalink





Sec. 425. Study and report on economic issues facing women’s business centers.CommentsClose CommentsPermalink





Sec. 426. Study and report on oversight of women’s business centers.CommentsClose CommentsPermalink

Subtitle C--Strengthening America’s Small Business Development Centers

Sec. 431. Institutions of higher education.CommentsClose CommentsPermalink





Sec. 432. Updating funding levels for small business development centers.CommentsClose CommentsPermalink





Sec. 433. Assistance to out-of-state small businesses.CommentsClose CommentsPermalink





Sec. 434. Termination of small business development center defense economic transition assistance.CommentsClose CommentsPermalink





Sec. 435. National Small Business Development Center Advisory Board.CommentsClose CommentsPermalink





Sec. 436. Repeal of Paul D. Coverdell drug-free workplace program.CommentsClose CommentsPermalink

Subtitle D--Terminating the National Veterans Business Development Corporation

Sec. 441. National Veterans Business Development Corporation.CommentsClose CommentsPermalink

Subtitle E--Expanding Women’s Entrepreneurship

Sec. 451. Definitions.CommentsClose CommentsPermalink





Sec. 452. National Women’s High-Growth Business Bipartisan Task Force.CommentsClose CommentsPermalink





Sec. 453. Repeal.CommentsClose CommentsPermalink

Subtitle F--Improving Mentoring for Entrepreneurs

Sec. 461. Definitions.CommentsClose CommentsPermalink





Sec. 462. Establishment of Advisory Board.CommentsClose CommentsPermalink





Sec. 463. Duties of the SCORE Advisory Board.CommentsClose CommentsPermalink





Sec. 464. Powers of the SCORE Advisory Board.CommentsClose CommentsPermalink





Sec. 465. SCORE Advisory Board personnel matters.CommentsClose CommentsPermalink





Sec. 466. Inapplicability of the Federal Advisory Committee Act to the SCORE Advisory Board.CommentsClose CommentsPermalink





Sec. 467. Funding.CommentsClose CommentsPermalink





Sec. 468. Reauthorization.CommentsClose CommentsPermalink





Sec. 469. Chief executive officer of SCORE.CommentsClose CommentsPermalink





Sec. 470. Allocation committee.CommentsClose CommentsPermalink





Sec. 471. Allocation of amounts.CommentsClose CommentsPermalink





Sec. 472. GAO study and report.CommentsClose CommentsPermalink

TITLE V--ACCESS TO GOVERNMENT CONTRACTING

Subtitle A--Bonds

Sec. 511. Removal of sunset dates for certain provisions of the Small Business Investment Act of 1958.CommentsClose CommentsPermalink

Subtitle B--Small Business Contracting Fraud Prevention

Sec. 521. Short title.CommentsClose CommentsPermalink





Sec. 522. Definitions.CommentsClose CommentsPermalink





Sec. 523. Fraud deterrence at the Small Business Administration.CommentsClose CommentsPermalink





Sec. 524. Veterans integrity in contracting.CommentsClose CommentsPermalink





Sec. 525. Section 8(a) program improvements.CommentsClose CommentsPermalink





Sec. 526. HUBZone improvements.CommentsClose CommentsPermalink





Sec. 527. Annual report on suspension, debarment, and prosecution.CommentsClose CommentsPermalink

Subtitle C--Fairness in Women-Owned Small Business Contracting

Sec. 531. Short title.CommentsClose CommentsPermalink





Sec. 532. Procurement program for women-owned small business concerns.CommentsClose CommentsPermalink





Sec. 533. Study and report on representation of women.CommentsClose CommentsPermalink

Subtitle D--Small Business Champion

Sec. 541. Short title.CommentsClose CommentsPermalink





Sec. 542. Offices of Small and Disadvantaged Business Utilization.CommentsClose CommentsPermalink





Sec. 543. Small Business Procurement Advisory Council.CommentsClose CommentsPermalink

Subtitle E--Subcontracts

Sec. 551. Subcontracts awarded by Federally Funded Research and Development Centers.CommentsClose CommentsPermalink

TITLE I--SMALL BUSINESS TAX EXTENDERSCommentsClose CommentsPermalink

SEC. 101. REFERENCES.

Except as otherwise expressly provided, whenever in this title an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.CommentsClose CommentsPermalink

SEC. 102. EXTENSION OF TEMPORARY EXCLUSION OF 100 PERCENT OF GAIN ON CERTAIN SMALL BUSINESS STOCK.

(a) In General- Paragraph (4) of section 1202(a) is amended--CommentsClose CommentsPermalink





(1) by striking ‘January 1, 2012’ and inserting ‘January 1, 2014’, andCommentsClose CommentsPermalink





(2) by striking ‘AND 2011’ and inserting ‘, 2011, 2012, AND 2013’ in the heading thereof.CommentsClose CommentsPermalink





(b) Technical Amendments-CommentsClose CommentsPermalink





(1) SPECIAL RULE FOR 2009 AND CERTAIN PERIOD IN 2010- Paragraph (3) of section 1202(a) is amended by adding at the end the following new flush sentence:CommentsClose CommentsPermalink





‘In the case of any stock which would be described in the preceding sentence (but for this sentence), the acquisition date for purposes of this subsection shall be the first day on which such stock was held by the taxpayer determined after the application of section 1223.’.CommentsClose CommentsPermalink





(2) 100 PERCENT EXCLUSION- Paragraph (4) of section 1202(a) is amended by adding at the end the following new flush sentence:CommentsClose CommentsPermalink





‘In the case of any stock which would be described in the preceding sentence (but for this sentence), the acquisition date for purposes of this subsection shall be the first day on which such stock was held by the taxpayer determined after the application of section 1223.’.CommentsClose CommentsPermalink





(c) Effective Dates-CommentsClose CommentsPermalink





(1) IN GENERAL- The amendments made by subsection (a) shall apply to stock acquired after December 31, 2011.CommentsClose CommentsPermalink





(2) SUBSECTION (b)(1)- The amendment made by subsection (b)(1) shall take effect as if included in section 1241(a) of division B of the American Recovery and Reinvestment Act of 2009.CommentsClose CommentsPermalink





(3) SUBSECTION (b)(2)- The amendment made by subsection (b)(2) shall take effect as if included in section 2011(a) of the Creating Small Business Jobs Act of 2010.CommentsClose CommentsPermalink

SEC. 103. EXTENSION OF ALTERNATIVE MINIMUM TAX RULES FOR GENERAL BUSINESS CREDITS OF ELIGIBLE SMALL BUSINESSES.

(a) In General- Subparagraph (A) of section 38(c)(5) is amended by inserting ‘, 2011, or 2012’ after ‘2010’.CommentsClose CommentsPermalink





(b) Technical Amendment- Section 38(c)(5)(B) is amended--CommentsClose CommentsPermalink





(1) by striking ‘the sum of’, andCommentsClose CommentsPermalink





(2) by inserting ‘for any taxable year to which subparagraph (A) applies’ after ‘or (4)’.CommentsClose CommentsPermalink





(c) Effective Dates-CommentsClose CommentsPermalink





(1) IN GENERAL- The amendment made by subsection (a) shall apply to credits determined in taxable years beginning after December 31, 2010, and to carrybacks of such credits.CommentsClose CommentsPermalink





(2) TECHNICAL AMENDMENTS- The amendments made by subsection (b) shall take effect as if included in section 2013(a) of the Creating Small Business Jobs Act of 2010.CommentsClose CommentsPermalink

SEC. 104. EXTENSION OF 5-YEAR CARRYBACK OF GENERAL BUSINESS CREDITS OF ELIGIBLE SMALL BUSINESSES.

(a) In General- Subparagraph (A) of section 39(a)(4) is amended by inserting ‘or in taxable years beginning in 2011, 2012, or 2013’ after ‘2010’.CommentsClose CommentsPermalink





(b) Effective Date- The amendment made by this section shall apply to credits determined in taxable years beginning after December 31, 2010.CommentsClose CommentsPermalink

SEC. 105. EXTENSION OF REDUCTION IN S-CORP RECOGNITION PERIOD FOR BUILT-IN GAINS TAX.

(a) In General- Paragraph (7) of section 1374(d) is amended--CommentsClose CommentsPermalink





(1) by redesignating subparagraph (C) as subparagraph (D), andCommentsClose CommentsPermalink





(2) by inserting after subparagraph (B) the following new subparagraph:CommentsClose CommentsPermalink





‘(C) SPECIAL RULE FOR 2012 AND 2013- For dispositions of property in taxable years beginning in 2012 or 2013, subparagraphs (A) and (D) shall be applied by substituting ‘5-year’ for ‘10-year’.’.CommentsClose CommentsPermalink





(b) Technical Amendment- Subparagraph (B) of section 1374(d)(2) is amended by inserting ‘described in subparagraph (A)’ after ‘, for any taxable year’.CommentsClose CommentsPermalink





(c) Effective Date- The amendments made by subsection (a) shall apply to taxable years beginning after December 31, 2011.CommentsClose CommentsPermalink

SEC. 106. EXTENSION OF INCREASED EXPENSING LIMITATIONS AND TREATMENT OF CERTAIN REAL PROPERTY AS SECTION 179 PROPERTY.

(a) In General- Section 179(b) is amended--CommentsClose CommentsPermalink





(1) by striking ‘2010 or 2011’ each place it appears in paragraph (1)(B) and (2)(B) and inserting ‘2010, 2011, 2012, or 2013’,CommentsClose CommentsPermalink





(2) by striking ‘2012’ each place it appears in paragraph (1)(C) and (2)(C) and inserting ‘2014’, andCommentsClose CommentsPermalink





(3) by striking ‘2012’ each place it appears in paragraph (1)(D) and (2)(D) and inserting ‘2014’.CommentsClose CommentsPermalink





(b) Inflation Adjustment- Subparagraph (A) of section 179(b)(6) is amended by striking ‘2012’ and inserting ‘2013’.CommentsClose CommentsPermalink





(c) Computer Software- Section 179(d)(1)(A)(ii) is amended by striking ‘2013’ and inserting ‘2014’.CommentsClose CommentsPermalink





(d) Election- Section 179(c)(2) is amended by striking ‘2013’ and inserting ‘2014’.CommentsClose CommentsPermalink





(e) Special Rules for Treatment of Qualified Real Property-CommentsClose CommentsPermalink





(1) IN GENERAL- Section 179(f)(1) is amended by striking ‘2010 or 2011’ and inserting ‘2010, 2011, 2012, or 2013’.CommentsClose CommentsPermalink





(2) CARRYOVER LIMITATION-CommentsClose CommentsPermalink





(A) IN GENERAL- Section 179(f)(4) is amended by striking ‘2011’ each place it appears and inserting ‘2013’.CommentsClose CommentsPermalink





(B) CONFORMING AMENDMENT- The heading for subparagraph (C) of section 179(f)(4) is amended by striking ‘2010’ and inserting ‘2010, 2011 and 2012’.CommentsClose CommentsPermalink





(f) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2011.CommentsClose CommentsPermalink

SEC. 107. EXTENSION OF SPECIAL RULE FOR LONG-TERM CONTRACT ACCOUNTING.

(a) In General- Clause (ii) of section 460(c)(6)(B) is amended by striking ‘January 1, 2011 (January 1, 2012’ and inserting ‘January 1, 2014 (January 1, 2015’.CommentsClose CommentsPermalink





(b) Effective Date- The amendment made by this section shall apply to property placed in service after December 31, 2010.CommentsClose CommentsPermalink

SEC. 108. EXTENSION OF INCREASED AMOUNT ALLOWED AS A DEDUCTION FOR START-UP EXPENDITURES.

(a) In General- Paragraph (3) of section 195(b) is amended--CommentsClose CommentsPermalink





(1) by inserting ‘, 2011, 2012, or 2013’ after ‘2010’, andCommentsClose CommentsPermalink





(2) by inserting ‘2011, 2012, AND 2013’ in the heading thereof.CommentsClose CommentsPermalink





(b) Effective Date- The amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2010.CommentsClose CommentsPermalink

SEC. 109. EXTENSION OF ALLOWANCE OF DEDUCTION FOR HEALTH INSURANCE IN COMPUTING SELF-EMPLOYMENT TAXES.

(a) In General- Paragraph (4) of section 162(l) is amended by striking ‘December 31, 2010’ and inserting ‘December 31, 2013’.CommentsClose CommentsPermalink





(b) Effective Date- The amendment made by this section shall apply to taxable years beginning after December 31, 2010.CommentsClose CommentsPermalink

TITLE II--REGULATORY RELIEFCommentsClose CommentsPermalink

SEC. 201. FINDINGS.

Congress finds the following:CommentsClose CommentsPermalink





(1) A vibrant and growing small business sector is critical to the recovery of the economy of the United States.CommentsClose CommentsPermalink





(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.CommentsClose CommentsPermalink





(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.CommentsClose CommentsPermalink





(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.CommentsClose CommentsPermalink





(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 $1,750,000,000,000. Small firms bear a disproportionate burden, paying approximately 36 percent more per employee than larger firms in annual regulatory compliance costs.CommentsClose CommentsPermalink





(6) All agencies in the Federal Government should fully consider the costs, including indirect economic impacts and the potential for job loss, of proposed rules, periodically review existing regulations to determine their impact on small entities, and repeal regulations that are unnecessarily duplicative or have outlived their stated purpose.CommentsClose CommentsPermalink





(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 loss.CommentsClose CommentsPermalink

SEC. 202. INCLUDING INDIRECT ECONOMIC IMPACT IN SMALL ENTITY ANALYSES.

Section 601 of title 5, United States Code, is amended by adding at the end the following:CommentsClose CommentsPermalink





‘(9) the term ‘economic impact’ means, with respect to a proposed or final rule--CommentsClose CommentsPermalink





‘(A) the economic effects on small entities directly regulated by the rule; andCommentsClose CommentsPermalink





‘(B) the reasonably foreseeable economic effects of the rule on small entities that--CommentsClose CommentsPermalink





‘(i) purchase products or services from, sell products or services to, or otherwise conduct business with entities directly regulated by the rule;CommentsClose CommentsPermalink





‘(ii) are directly regulated by other governmental entities as a result of the rule; orCommentsClose CommentsPermalink





‘(iii) are not directly regulated by the agency as a result of the rule but are otherwise subject to other agency regulations as a result of the rule.’.CommentsClose CommentsPermalink

SEC. 203. JUDICIAL REVIEW TO ALLOW SMALL ENTITIES TO CHALLENGE PROPOSED REGULATIONS.

Section 611(a) of title 5, United States Code, is amended--CommentsClose CommentsPermalink





(1) in paragraph (1), by inserting ‘603,’ after ‘601,’;CommentsClose CommentsPermalink





(2) in paragraph (2), by inserting ‘603,’ after ‘601,’;CommentsClose CommentsPermalink





(3) by striking paragraph (3) and inserting the following:CommentsClose CommentsPermalink





‘(3) A small entity may seek such review during the 1-year period beginning on the date of final agency action, except that--CommentsClose CommentsPermalink





‘(A) if a provision of law requires that an action challenging a final agency action be commenced before the expiration of 1 year, the lesser period shall apply to an action for judicial review under this section; andCommentsClose CommentsPermalink





‘(B) in the case of noncompliance with section 603 or 605(b), a small entity may seek judicial review of agency compliance with such section before the close of the public comment period.’; andCommentsClose CommentsPermalink





(4) in paragraph (4)--CommentsClose CommentsPermalink





(A) in subparagraph (A), by striking ‘, and’ and inserting a semicolon;CommentsClose CommentsPermalink





(B) in subparagraph (B), by striking the period and inserting ‘; or’; andCommentsClose CommentsPermalink





(C) by adding at the end the following:CommentsClose CommentsPermalink





‘(C) issuing an injunction prohibiting an agency from taking any agency action with respect to a rulemaking until that agency is in compliance with the requirements of section 603 or 605.’.CommentsClose CommentsPermalink

SEC. 204. PERIODIC REVIEW.

Section 610 of title 5, United States Code, is amended to read as follows:CommentsClose CommentsPermalink

‘Sec. 610. Periodic review of rules

‘(a)(1) Not later than 180 days after the date of enactment of the Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012, each agency shall establish a plan for the periodic review of--CommentsClose CommentsPermalink





‘(A) each rule issued by the agency that the head of the agency determines has a significant economic impact on a substantial number of small entities, without regard to whether the agency performed an analysis under section 604 with respect to the rule; andCommentsClose CommentsPermalink





‘(B) any small entity compliance guide required to be published by the agency under section 212 of the Small Business Regulatory Enforcement Fairness Act of 1996 (5 U.S.C. 601 note).CommentsClose CommentsPermalink





‘(2) In reviewing rules and small entity compliance guides under paragraph (1), the agency shall determine whether the rules and guides should--CommentsClose CommentsPermalink





‘(A) 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); orCommentsClose CommentsPermalink





‘(B) continue in effect without change.CommentsClose CommentsPermalink





‘(3) Each agency shall publish the plan established under paragraph (1) in the Federal Register and on the Web site of the agency.CommentsClose CommentsPermalink





‘(4) An agency may amend the plan established under paragraph (1) at any time by publishing the amendment in the Federal Register and on the Web site of the agency.CommentsClose CommentsPermalink





‘(b) Each plan established under subsection (a) shall provide for--CommentsClose CommentsPermalink





‘(1) the review of each rule and small entity compliance guide described in subsection (a)(1) in effect on the date of enactment of the Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012--CommentsClose CommentsPermalink





‘(A) not later than 9 years after the date of publication of the plan in the Federal Register; andCommentsClose CommentsPermalink





‘(B) every 9 years thereafter; andCommentsClose CommentsPermalink





‘(2) the review of each rule adopted and small entity compliance guide described in subsection (a)(1) that is published after the date of enactment of the Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012--CommentsClose CommentsPermalink





‘(A) not later than 9 years after the publication of the final rule in the Federal Register; andCommentsClose CommentsPermalink





‘(B) every 9 years thereafter.CommentsClose CommentsPermalink





‘(c) In reviewing rules under the plan required under subsection (a), the agency shall consider--CommentsClose CommentsPermalink





‘(1) the continued need for the rule;CommentsClose CommentsPermalink





‘(2) the nature of complaints received by the agency from small entities concerning the rule;CommentsClose CommentsPermalink





‘(3) comments by the Regulatory Enforcement Ombudsman and the Chief Counsel for Advocacy of the Small Business Administration;CommentsClose CommentsPermalink





‘(4) the complexity of the rule;CommentsClose CommentsPermalink





‘(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;CommentsClose CommentsPermalink





‘(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 a calculation cannot be made;CommentsClose CommentsPermalink





‘(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; andCommentsClose CommentsPermalink





‘(8) the economic impact of the rule, including--CommentsClose CommentsPermalink





‘(A) the estimated number of small entities to which the rule will apply;CommentsClose CommentsPermalink





‘(B) the estimated number of small entity jobs that will be lost or created due to the rule; andCommentsClose CommentsPermalink





‘(C) the projected reporting, recordkeeping, and other compliance requirements of the proposed rule, including--CommentsClose CommentsPermalink





‘(i) an estimate of the classes of small entities that will be subject to the requirement; andCommentsClose CommentsPermalink





‘(ii) the type of professional skills necessary for preparation of the report or record.CommentsClose CommentsPermalink





‘(d)(1) Each agency shall submit an annual report regarding the results of the review required under subsection (a) to--CommentsClose CommentsPermalink





‘(A) Congress; andCommentsClose CommentsPermalink





‘(B) in the case of an agency that is not an independent regulatory agency (as defined in section 3502(5) of title 44), the Administrator of the Office of Information and Regulatory Affairs of the Office of Management and Budget.CommentsClose CommentsPermalink





‘(2) Each report required under paragraph (1) shall include a description of any rule or guide with respect to which the agency made a determination of infeasibility under paragraph (5) or (6) of subsection (c), together with a detailed explanation of the reasons for the determination.CommentsClose CommentsPermalink





‘(e) Each agency shall publish in the Federal Register and on the Web site of the agency a list of the rules and small entity compliance guides to be reviewed under the plan required under subsection (a) that includes--CommentsClose CommentsPermalink





‘(1) a brief description of each rule or guide;CommentsClose CommentsPermalink





‘(2) for each rule, the reason why the head of the agency determined that the rule 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); andCommentsClose CommentsPermalink





‘(3) a request for comments from the public, the Chief Counsel for Advocacy of the Small Business Administration, and the Regulatory Enforcement Ombudsman concerning the enforcement of the rules or publication of the guides.CommentsClose CommentsPermalink





‘(f)(1) Not later than 6 months after each date described in subsection (b)(1), the Inspector General for each agency shall--CommentsClose CommentsPermalink





‘(A) determine whether the agency has conducted the review required under subsection (b) appropriately; andCommentsClose CommentsPermalink





‘(B) notify the head of the agency of--CommentsClose CommentsPermalink





‘(i) the results of the determination under subparagraph (A); andCommentsClose CommentsPermalink





‘(ii) any issues preventing the Inspector General from determining that the agency has conducted the review under subsection (b) appropriately.CommentsClose CommentsPermalink





‘(2)(A) Not later than 6 months after the date on which the head of an agency receives a notice under paragraph (1)(B) that the agency has not conducted the review under subsection (b) appropriately, the agency shall address the issues identified in the notice.CommentsClose CommentsPermalink





‘(B) Not later than 30 days after the last day of the 6-month period described in subparagraph (A), the Inspector General for an agency that receives a notice described in subparagraph (A) shall--CommentsClose CommentsPermalink





‘(i) determine whether the agency has addressed the issues identified in the notice; andCommentsClose CommentsPermalink





‘(ii) notify Congress if the Inspector General determines that the agency has not addressed the issues identified in the notice; andCommentsClose CommentsPermalink





‘(C) Not later than 30 days after the date on which the Inspector General for an agency transmits a notice under subparagraph (B)(ii), an amount equal to 1 percent of the amount appropriated for the fiscal year to the appropriations account of the agency that is used to pay salaries shall be rescinded.CommentsClose CommentsPermalink





‘(D) Nothing in this paragraph may be construed to prevent Congress from acting to prevent a rescission under subparagraph (C).’.CommentsClose CommentsPermalink

SEC. 205. REQUIRING SMALL BUSINESS REVIEW PANELS FOR ADDITIONAL AGENCIES.

(a) Agencies- Section 609 of title 5, United States Code, is amended--CommentsClose CommentsPermalink





(1) in subsection (b)--CommentsClose CommentsPermalink





(A) by striking ‘a covered agency’ the first place it appears and inserting ‘an agency designated under subsection (d)’; andCommentsClose CommentsPermalink





(B) by striking ‘a covered agency’ each place it appears and inserting ‘the agency’;CommentsClose CommentsPermalink





(2) by striking subsection (d), as amended by section 1100G(a) of Public Law 111-203 (124 Stat. 2112), and inserting the following:CommentsClose CommentsPermalink





‘(d)(1) On and after the date of enactment of the Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012, the Environmental Protection Agency, the Occupational Safety and Health Administration of the Department of Labor, and the Bureau of Consumer Financial Protection shall be--CommentsClose CommentsPermalink





‘(A) agencies designated under this subsection; andCommentsClose CommentsPermalink





‘(B) subject to the requirements of subsection (b).CommentsClose CommentsPermalink





‘(2) The Chief Counsel for Advocacy shall designate as agencies that shall be subject to the requirements of subsection (b) on and after the date of the designation--CommentsClose CommentsPermalink





‘(A) 3 agencies for the first year after the date of enactment of the Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012;CommentsClose CommentsPermalink





‘(B) in addition to the agencies designated under subparagraph (A), 3 agencies for the second year after the date of enactment of the Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012; andCommentsClose CommentsPermalink





‘(C) in addition to the agencies designated under subparagraphs (A) and (B), 3 agencies for the third year after the date of enactment of the Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012.CommentsClose CommentsPermalink





‘(3) The Chief Counsel for Advocacy shall designate agencies under paragraph (2) based on the economic impact of the rules of the agency on small entities, beginning with agencies with the largest economic impact on small entities.’; andCommentsClose CommentsPermalink





(3) in subsection (e)(1), by striking ‘the covered agency’ and inserting ‘the agency’.CommentsClose CommentsPermalink





(b) Technical and Conforming Amendments-CommentsClose CommentsPermalink





(1) SECTION 603- Section 603(d) of title 5, United States Code, as added by section 1100G(b) of Public Law 111-203 (124 Stat. 2112), is amended--CommentsClose CommentsPermalink





(A) in paragraph (1), by striking ‘a covered agency, as defined in section 609(d)(2)’ and inserting ‘the Bureau of Consumer Financial Protection’; andCommentsClose CommentsPermalink





(B) in paragraph (2), by striking ‘A covered agency, as defined in section 609(d)(2),’ and inserting ‘The Bureau of Consumer Financial Protection’.CommentsClose CommentsPermalink





(2) SECTION 604- Section 604(a) of title 5, United States Code, is amended--CommentsClose CommentsPermalink





(A) by redesignating the second paragraph designated as paragraph (6) (relating to covered agencies), as added by section 1100G(c)(3) of Public Law 111-203 (124 Stat. 2113), as paragraph (7); andCommentsClose CommentsPermalink





(B) in paragraph (7), as so redesignated--CommentsClose CommentsPermalink





(i) by striking ‘a covered agency, as defined in section 609(d)(2)’ and inserting ‘the Bureau of Consumer Financial Protection’; andCommentsClose CommentsPermalink





(ii) by striking ‘the agency’ and inserting ‘the Bureau’.CommentsClose CommentsPermalink

SEC. 206. EXPANDING THE REGULATORY FLEXIBILITY ACT TO AGENCY GUIDANCE DOCUMENTS.

Section 601(2) of title 5, United States Code, is amended by inserting after ‘public comment’ the following: ‘and any significant guidance document, as defined in the Office of Management and Budget Final Bulletin for Agency Good Guidance Procedures (72 Fed. Reg. 3432; January 25, 2007)’.CommentsClose CommentsPermalink

SEC. 207. REQUIRING THE INTERNAL REVENUE SERVICE TO CONSIDER SMALL ENTITY IMPACT.

(a) In General- Section 603(a) of title 5, United States Code, is amended, in the fifth sentence, by striking ‘but only’ and all that follows through the period at the end and inserting ‘but only to the extent that such interpretative rules, or the statutes upon which such rules are based, impose on small entities a collection of information requirement or a recordkeeping requirement.’.CommentsClose CommentsPermalink





(b) Definitions- Section 601 of title 5, United States Code, as amended by section 202 of this Act, is amended--CommentsClose CommentsPermalink





(1) in paragraph (6), by striking ‘and’ at the end; andCommentsClose CommentsPermalink





(2) by striking paragraphs (7) and (8) and inserting the following:CommentsClose CommentsPermalink





‘(7) the term ‘collection of information’ has the meaning given that term in section 3502(3) of title 44;CommentsClose CommentsPermalink





‘(8) the term ‘recordkeeping requirement’ has the meaning given that term in section 3502(13) of title 44; and’.CommentsClose CommentsPermalink

SEC. 208. REPORTING ON ENFORCEMENT ACTIONS RELATING TO SMALL ENTITIES.

Section 223 of the Small Business Regulatory Enforcement Fairness Act of 1996 (5 U.S.C. 601 note) is amended--CommentsClose CommentsPermalink





(1) in subsection (a)--CommentsClose CommentsPermalink





(A) by striking ‘Each agency’ and inserting the following:CommentsClose CommentsPermalink





‘(1) ESTABLISHMENT OF POLICY OR PROGRAM- Each agency’; andCommentsClose CommentsPermalink





(B) by adding at the end the following:CommentsClose CommentsPermalink





‘(2) REVIEW OF CIVIL PENALTIES- Not later than 2 years after the date of enactment of the Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012, and every 2 years thereafter, each agency regulating the activities of small entities shall review the civil penalties imposed by the agency for violations of a statutory or regulatory requirement by a small entity to determine whether a reduction or waiver of the civil penalties is appropriate.’; andCommentsClose CommentsPermalink





(2) in subsection (c)--CommentsClose CommentsPermalink





(A) by striking ‘Agencies shall report’ and all that follows through ‘the scope’ and inserting ‘Not later than 2 years after the date of enactment of the Restoring Tax and Regulatory Certainty to Small Businesses Act of 2012, and every 2 years thereafter, each agency shall submit to the Committee on Small Business and Entrepreneurship and the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Small Business and the Committee on the Judiciary of the House of Representatives a report discussing the scope’; andCommentsClose CommentsPermalink





(B) by striking ‘and the total amount of penalty reductions and waivers’ and inserting ‘the total amount of penalty reductions and waivers, and the results of the most recent review under subsection (a)(2)’.CommentsClose CommentsPermalink

SEC. 209. REQUIRING MORE DETAILED SMALL ENTITY ANALYSES.

(a) Initial Regulatory Flexibility Analysis- Section 603 of title 5, United States Code, as amended by section 1100G(b) of Public Law 111-203 (124 Stat. 2112), is amended--CommentsClose CommentsPermalink





(1) by striking subsection (b) and inserting the following:CommentsClose CommentsPermalink





‘(b) Each initial regulatory flexibility analysis required under this section shall contain a detailed statement--CommentsClose CommentsPermalink





‘(1) describing the reasons why action by the agency is being considered;CommentsClose CommentsPermalink





‘(2) describing the objectives of, and legal basis for, the proposed rule;CommentsClose CommentsPermalink





‘(3) estimating the number and type of small entities to which the proposed rule will apply;CommentsClose CommentsPermalink





‘(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;CommentsClose CommentsPermalink





‘(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; andCommentsClose CommentsPermalink





‘(6) estimating the additional cumulative economic impact of the proposed rule on small entities, including job loss 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.’; andCommentsClose CommentsPermalink





(2) by adding at the end the following:CommentsClose CommentsPermalink





‘(e) 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--CommentsClose CommentsPermalink





‘(1) when the agency submits a draft rule to the Office of Information and Regulatory Affairs of the Office of Management and Budget under Executive Order 12866, if that order requires the submission; orCommentsClose CommentsPermalink





‘(2) if no submission to the Office of Information and Regulatory Affairs is required--CommentsClose CommentsPermalink





‘(A) a reasonable period before publication of the rule by the agency; andCommentsClose CommentsPermalink





‘(B) in any event, not later than 3 months before the date on which the agency publishes the rule.’.CommentsClose CommentsPermalink





(b) Final Regulatory Flexibility Analysis-CommentsClose CommentsPermalink





(1) IN GENERAL- Section 604(a) of title 5, United States Code, is amended--CommentsClose CommentsPermalink





(A) by inserting ‘detailed’ before ‘description’ each place it appears;CommentsClose CommentsPermalink





(B) in paragraph (2)--CommentsClose CommentsPermalink





(i) by inserting ‘detailed’ before ‘statement’ each place it appears; andCommentsClose CommentsPermalink





(ii) by inserting ‘(or certification of the proposed rule under section 605(b))’ after ‘initial regulatory flexibility analysis’;CommentsClose CommentsPermalink





(C) in paragraph (4), by striking ‘an explanation’ and inserting ‘a detailed explanation’; andCommentsClose CommentsPermalink





(D) in paragraph (6) (relating to a description of steps taken to minimize significant economic impact), as added by section 1601 of the Small Business Jobs Act of 2010 (Public Law 111-240; 124 Stat. 2251), by inserting ‘detailed’ before ‘statement’.CommentsClose CommentsPermalink





(2) PUBLICATION OF ANALYSIS ON WEB SITE, ETC- Section 604(b) of title 5, United States Code, is amended to read as follows:CommentsClose CommentsPermalink





‘(b) The agency shall--CommentsClose CommentsPermalink





‘(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; andCommentsClose CommentsPermalink





‘(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.’.CommentsClose CommentsPermalink





(c) Cross-References to Other Analyses- Section 605(a) of title 5, United States Code, is amended to read as follows:CommentsClose CommentsPermalink





‘(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 under section 602, 603, or 604.’.CommentsClose CommentsPermalink





(d) Certifications- Section 605(b) of title 5, United States Code, is amended, in the second sentence, by striking ‘statement providing the factual’ and inserting ‘detailed statement providing the factual and legal’.CommentsClose CommentsPermalink





(e) Quantification Requirements- Section 607 of title 5, United States Code, is amended to read as follows:CommentsClose CommentsPermalink

‘Sec. 607. Quantification requirements

‘In complying with sections 603 and 604, an agency shall provide--CommentsClose CommentsPermalink





‘(1) a quantifiable or numerical description of the effects of the proposed or final rule, including an estimate of the potential for job loss, and alternatives to the proposed or final rule; orCommentsClose CommentsPermalink





‘(2) a more general descriptive statement regarding the potential for job loss and a detailed statement explaining why quantification under paragraph (1) is not practicable or reliable.’.CommentsClose CommentsPermalink

SEC. 210. ENSURING THAT AGENCIES CONSIDER SMALL ENTITY IMPACT DURING THE RULEMAKING PROCESS.

Section 605(b) of title 5, United States Code, is amended--CommentsClose CommentsPermalink





(1) by inserting ‘(1)’ after ‘(b)’; andCommentsClose CommentsPermalink





(2) by adding at the end the following:CommentsClose CommentsPermalink





‘(2) If, after publication of the certification required under paragraph (1), the head of the agency determines that there will be a significant economic impact on a substantial number of small entities, the agency shall comply with the requirements of section 603 before the publication of the final rule, by--CommentsClose CommentsPermalink





‘(A) publishing an initial regulatory flexibility analysis for public comment; orCommentsClose CommentsPermalink





‘(B) re-proposing the rule with an initial regulatory flexibility analysis.CommentsClose CommentsPermalink





‘(3) The head of an agency may not make a certification relating to a rule under this subsection, unless the head of the agency has determined--CommentsClose CommentsPermalink





‘(A) the average cost of the rule for small entities affected or reasonably presumed to be affected by the rule;CommentsClose CommentsPermalink





‘(B) the number of small entities affected or reasonably presumed to be affected by the rule; andCommentsClose CommentsPermalink





‘(C) the number of affected small entities for which that cost will be significant.CommentsClose CommentsPermalink





‘(4) Before publishing a certification and a statement providing the factual basis for the certification under paragraph (1), the head of an agency shall--CommentsClose CommentsPermalink





‘(A) transmit a copy of the certification and statement to the Chief Counsel for Advocacy of the Small Business Administration; andCommentsClose CommentsPermalink





‘(B) consult with the Chief Counsel for Advocacy of the Small Business Administration on the accuracy of the certification and statement.’.CommentsClose CommentsPermalink

SEC. 211. ADDITIONAL POWERS OF THE OFFICE OF ADVOCACY.

Section 203 of Public Law 94-305 (15 U.S.C. 634c) is amended--CommentsClose CommentsPermalink





(1) in paragraph (5), by striking ‘and’ at the end;CommentsClose CommentsPermalink





(2) in paragraph (6), by striking the period at the end and inserting ‘; and’; andCommentsClose CommentsPermalink





(3) by inserting after paragraph (6) the following:CommentsClose CommentsPermalink





‘(7) at the discretion of the Chief Counsel for Advocacy, comment on regulatory action by an agency that affects small businesses, without regard to whether the agency is required to file a notice of proposed rulemaking under section 553 of title 5, United States Code, with respect to the action.’.CommentsClose CommentsPermalink

SEC. 212. TECHNICAL AND CONFORMING AMENDMENTS.

(a) Heading- Section 605 of title 5, United States Code, is amended in the section heading by striking ‘Avoidance’ and all that follows and inserting the following: ‘Incorporations by reference and certification.’.CommentsClose CommentsPermalink





(b) Table of Sections- The table of sections for chapter 6 of title 5, United States Code, is amended--CommentsClose CommentsPermalink





(1) by striking the item relating to section 605 and inserting the following:CommentsClose CommentsPermalink





‘605. Incorporations by reference and certifications.’;CommentsClose CommentsPermalink





andCommentsClose CommentsPermalink





(2) by striking the item relating to section 607 inserting the following:CommentsClose CommentsPermalink





‘607. Quantification requirements.’.CommentsClose CommentsPermalink

SEC. 213. REGULATORY TRANSPARENCY REPORTING.

(a) Definitions- In this section--CommentsClose CommentsPermalink





(1) the term ‘agency’ has the same meaning as in section 551 of title 5, United States Code;CommentsClose CommentsPermalink





(2) the term ‘covered period’ means, with respect to a report required to be submitted under this subsection, the period beginning on January 1 of the year preceding the date of submission of the report and ending on December 31 of the year preceding the date of submission of the report;CommentsClose CommentsPermalink





(3) the term ‘major rule’ means a rule that has an annual effect on the economy of the United States of $100,000,000 or more;CommentsClose CommentsPermalink





(4) the term ‘report’ means an annual report submitted to Congress under section 624 of the Treasury and General Government Appropriations Act, 2001 (31 U.S.C. 1105 note);CommentsClose CommentsPermalink





(5) the term ‘rule’--CommentsClose CommentsPermalink





(A) has the same meaning as in section 551 of title 5, United States Code; andCommentsClose CommentsPermalink





(B) includes a rule issued by an independent establishment, as that term is defined in section 104 of title 5, United States Code; andCommentsClose CommentsPermalink





(6) the term ‘Unified Agenda’ means the Unified Agenda of Federal Regulatory and Deregulatory Actions.CommentsClose CommentsPermalink





(b) In General- The Administrator of the Office of Information and Regulatory Affairs shall include in the report required under section 624 of the Treasury and General Government Appropriations Act, 2001 (31 U.S.C. 1105 note) the data and tables described in this section.CommentsClose CommentsPermalink





(c) Data- Each report shall contain the following:CommentsClose CommentsPermalink





(1) A list of each major rule issued by each agency during the covered period in each of the following categories:CommentsClose CommentsPermalink





(A) Rules having an economic impact of more than $100,000,000 and not more than $500,000,000.CommentsClose CommentsPermalink





(B) Rules having an economic impact of more than $500,000,000 and not more than $1,000,000,000.CommentsClose CommentsPermalink





(C) Rules having an economic impact of more than $1,000,000,000 and not more than $5,000,000,000.CommentsClose CommentsPermalink





(D) Rules having an economic impact of more than $5,000,000,000 and not more than $10,000,000,000.CommentsClose CommentsPermalink





(E) Rules having an economic impact of more than $10,000,000,000.CommentsClose CommentsPermalink





(F) Any rules not described in subparagraphs (A) through (E).CommentsClose CommentsPermalink





(2) A list of each rule issued during the covered period that--CommentsClose CommentsPermalink





(A) required a regulatory flexibility analysis under chapter 6 of title 5, United States Code; orCommentsClose CommentsPermalink





(B) was listed in the Unified Agenda as a regulatory action that an agency identified as likely to have some impact on small entities, even though a regulatory flexibility analysis was not required under chapter 6 of title 5, United States Code.CommentsClose CommentsPermalink





(3) A list of each rule issued during the covered period that affects State and local governments.CommentsClose CommentsPermalink





(4) The percentage of rules issued during the covered period that were--CommentsClose CommentsPermalink





(A) rules described in paragraph (2); orCommentsClose CommentsPermalink





(B) rules described in paragraph (3).CommentsClose CommentsPermalink





(5) A list of each rule issued during the covered period that included a numerical estimate of the cost of the rule.CommentsClose CommentsPermalink





(6) The sum of the numerical estimates described in paragraph (5)--CommentsClose CommentsPermalink





(A) for each agency; andCommentsClose CommentsPermalink





(B) for all agencies, as a whole.CommentsClose CommentsPermalink





(7) A list of each rule issued during the covered period that did not include a numerical estimate of the cost of the rule, and, for each such rule, an explanation of why a numerical estimate was not included.CommentsClose CommentsPermalink





(8) The percentage of rules issued during the covered period that were reviewed by the Office of Management and Budget.CommentsClose CommentsPermalink





(9) A list of each rule issued during the covered period that was reviewed by the Office of Management and Budget and a description of any action taken by the Office of Management and Budget with respect to the rule.CommentsClose CommentsPermalink





(10) The number of pages included the Federal Register during the covered period.CommentsClose CommentsPermalink





(11) A list of each major rule for which the Comptroller General of the United States issued a report during the covered period that was entered into the database of reports on regulations issued by the Government Accountability Office.CommentsClose CommentsPermalink





(12) A list of each rule reviewed under section 610 of title 5, United States Code, during the covered period.CommentsClose CommentsPermalink





(13) A list of each rule issued during the covered period that is designated in the Unified Agenda as deregulatory, rather than regulatory.CommentsClose CommentsPermalink





(14) A list of each rule issued during the covered period that the Administrator determines affects only the internal procedures of the agency that issued the rule.CommentsClose CommentsPermalink





(15) A list of each rule that was added to the Unified Agenda during the covered period.CommentsClose CommentsPermalink





(16) A list of each rule included in the Unified Agenda during the covered period that was included in the Unified Agenda before the covered period.CommentsClose CommentsPermalink





(17) A list of each rule issued during the covered period that was required to be issued by statute.CommentsClose CommentsPermalink





(18) The number and percentage of rules described in paragraph (17), compared to the number and percentage of rules issued during the covered period that are not described in paragraph (17).CommentsClose CommentsPermalink





(19) A list of each rule issued during the covered period that was required to be issued during the covered period by judicial order.CommentsClose CommentsPermalink





(20) The number and percentage of rules issued during the covered period that are described in paragraph (19), compared to the number and percentage of rules issued during the covered period that are not described in paragraph (19).CommentsClose CommentsPermalink





(21) A list of each rule issued during the covered period for which the agency that issued the rule was prohibited by statute from considering the costs and benefits of the rule.CommentsClose CommentsPermalink





(d) Master Table-CommentsClose CommentsPermalink





(1) IN GENERAL- Each report shall contain a table that includes the following:CommentsClose CommentsPermalink





(A) A list of each rule described in subsection (c).CommentsClose CommentsPermalink





(B) A brief summary of each rule described in subsection (c).CommentsClose CommentsPermalink





(C) A citation (or, if the report is issued in electronic form, a link) to--CommentsClose CommentsPermalink





(i) any regulatory flexibility analysis required under chapter 6 of title 5, United States Code, with respect to a rule described in subsection (c); andCommentsClose CommentsPermalink





(ii) any regulatory impact analysis required under Executive Order 12866 (5 U.S.C. 601 note; relating to regulatory planning and review), with respect to a rule described in subsection (c).CommentsClose CommentsPermalink





(2) CITATION- Each list required under subsection (b) shall include, for each rule included in the list, a citation (or, if the report is issued in electronic form, a link) to the summary of the rule in the table required under paragraph (1).CommentsClose CommentsPermalink





(e) Historical Tables-CommentsClose CommentsPermalink





(1) IN GENERAL- Each report shall contain historical tables representing the data described in subsection (c), modeled after Federal budget historical tables, that provide consistent data concerning--CommentsClose CommentsPermalink





(A) each covered period, beginning on the date of enactment of this Act; andCommentsClose CommentsPermalink





(B) to the extent practicable, each calendar year preceding the date of enactment of this Act.CommentsClose CommentsPermalink





(2) CONSISTENCY OF DATA- To the greatest extent possible, the data provided in the tables under paragraph (1) shall be consistent, including with respect to the value of a dollar, the discount rate, and the time period over which a cost is incurred.CommentsClose CommentsPermalink

TITLE III--ACCESS TO CAPITALCommentsClose CommentsPermalink

Subtitle A--Expanding Access to Capital for Entrepreneurial LeadersCommentsClose CommentsPermalink

SEC. 311. SHORT TITLE.

This subtitle may be cited as the ‘EXCEL Act of 2012’.CommentsClose CommentsPermalink

SEC. 312. PROGRAM AUTHORIZATION.

Section 303(b) of the Small Business Investment Act of 1958 (15 U.S.C. 683(b)) is amended, in the matter preceding paragraph (1), in the first sentence, by inserting after ‘issued by such companies’ the following: ‘, in a total amount that does not exceed $4,000,000,000 each fiscal year (adjusted annually to reflect increases in the Consumer Price Index established by the Bureau of Labor Statistics of the Department of Labor)’.CommentsClose CommentsPermalink

SEC. 313. FAMILY OF FUNDS.

Section 303(b)(2)(B) of the Small Business Investment Act of 1958 (15 U.S.C. 683(b)(2)(B)) is amended by striking ‘$225,000,000’ and inserting ‘$350,000,000’.CommentsClose CommentsPermalink

SEC. 314. ADJUSTMENT FOR INFLATION.

Section 303(b)(2) of the Small Business Investment Act of 1958 (15 U.S.C. 683(b)(2)) is amended by adding at the end the following:CommentsClose CommentsPermalink





‘(E) ADJUSTMENTS-CommentsClose CommentsPermalink





‘(i) IN GENERAL- The dollar amounts in subparagraph (A)(ii), subparagraph (B), and subparagraph (C)(ii)(I) shall be adjusted annually to reflect increases in the Consumer Price Index established by the Bureau of Labor Statistics of the Department of Labor (in this subparagraph referred to as the ‘CPI’).CommentsClose CommentsPermalink





‘(ii) APPLICABILITY- The adjustments required by clause (i)--CommentsClose CommentsPermalink





‘(I) with respect to dollar amounts in subparagraphs (A)(ii) and (C)(ii)(I) shall initially reflect increases in the CPI during the period beginning on the effective date of section 505 of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 156) through the date of enactment of this subparagraph and annually thereafter;CommentsClose CommentsPermalink





‘(II) with respect to dollar amounts in subparagraph (B) shall reflect increases in the CPI annually on and after the date of enactment of this subparagraph.’.CommentsClose CommentsPermalink

SEC. 315. PUBLIC AVAILABILITY OF INFORMATION.

Section 303 of the Small Business Investment Act of 1958 (15 U.S.C. 683) is amended by adding at the end the following:CommentsClose CommentsPermalink





‘(l) Access to Fund Information- Annually, the Administrator shall make public on its website the following information with respect to each small business investment company:CommentsClose CommentsPermalink





‘(1) The amount of capital deployed since fund inception.CommentsClose CommentsPermalink





‘(2) The amount of leverage drawn since fund inception.CommentsClose CommentsPermalink





‘(3) The number of investments since fund inception.CommentsClose CommentsPermalink





‘(4) The number of businesses receiving capital since fund inception.CommentsClose CommentsPermalink





‘(5) Industry sectors receiving investment since fund inception.CommentsClose CommentsPermalink





‘(6) The amount of leverage principal repaid by the small business investment company since fund inception.CommentsClose CommentsPermalink





‘(7) A basic description of investment strategy.’.CommentsClose CommentsPermalink

SEC. 316. AUTHORIZED USES OF LICENSING FEES.

Section 301 of the Small Business Investment Act of 1958 (15 U.S.C. 681) is amended--CommentsClose CommentsPermalink





(1) by redesignating subsection (e) as subsection (d); andCommentsClose CommentsPermalink





(2) in subsection (d)(2)(B), as so redesignated, by inserting before the period at the end the following: ‘and other small business investment company program needs’.CommentsClose CommentsPermalink

SEC. 317. SENSE OF CONGRESS.

It is the sense of Congress that--CommentsClose CommentsPermalink





(1) small business investment companies would benefit from partnerships with community banks and other lenders, and should work with community banks and other lenders, to ensure that if community banks and other lenders deny an application by a small business concern for a loan, the community banks or other lenders will refer the small business concern to small business investment companies; andCommentsClose CommentsPermalink





(2) the Administrator of the Small Business Administration (in this section referred to as the ‘Administrator’) should--CommentsClose CommentsPermalink





(A) increase outreach to community banks and other lenders to encourage community banks and other lenders to invest in small business investment companies;CommentsClose CommentsPermalink





(B) use the Internet to make publicly available in a timely manner which small business investment companies are actively soliciting investments and making investments in small business concerns;CommentsClose CommentsPermalink





(C) partner with governors, mayors, States, and municipalities to increase outreach by small business investment companies to underserved and rural areas; andCommentsClose CommentsPermalink





(D) continue to make changes to the webpage for the small business investment company program, to make the webpage--CommentsClose CommentsPermalink





(i) a more prominent part of the website of the Administration; andCommentsClose CommentsPermalink





(ii) more user-friendly.CommentsClose CommentsPermalink

Subtitle B--Low-Interest RefinancingCommentsClose CommentsPermalink

SEC. 321. LOW-INTEREST REFINANCING UNDER THE LOCAL DEVELOPMENT BUSINESS LOAN PROGRAM.

Section 1122(b) of the Small Business Jobs Act of 2010 (15 U.S.C. 696 note) is amended by striking ‘2 years’ and inserting ‘on the date that is 3 years and 6 months’.CommentsClose CommentsPermalink

TITLE IV--ENTREPRENEURIAL SUPPORTCommentsClose CommentsPermalink

Subtitle A--Measuring the Effectiveness of Resource PartnersCommentsClose CommentsPermalink

SEC. 411. EXPANDING ENTREPRENEURSHIP.

Section 4 of the Small Business Act (15 U.S.C. 633) is amended by adding at the end the following:CommentsClose CommentsPermalink





‘(g) Management and Direction-CommentsClose CommentsPermalink





‘(1) PLAN FOR ENTREPRENEURIAL DEVELOPMENT AND JOB CREATION STRATEGY-CommentsClose CommentsPermalink





‘(A) PLAN REQUIRED- The Administrator, in consultation with a representative from each entrepreneurial development program of the Administration, shall develop and submit to Congress a plan for using the entrepreneurial development programs of the Administration to create jobs during fiscal years 2013 and 2014.CommentsClose CommentsPermalink





‘(B) CONTENTS OF PLAN- The plan required under subparagraph (A) shall--CommentsClose CommentsPermalink





‘(i) include the plan of the Administrator for using existing programs, including small business development centers, women’s business centers, the Service Corps of Retired Executives authorized by section 8(b)(1), Veterans Business Outreach Centers, and programs of the Office of Native American Affairs, to create jobs;CommentsClose CommentsPermalink





‘(ii) identify a strategy for each region of the Administration to use programs of the Administration to create or retain jobs in the region; andCommentsClose CommentsPermalink





‘(iii) establish performance measures and criteria, including goals for job creation, job retention, and job retraining, to evaluate the success of the plan.CommentsClose CommentsPermalink





‘(2) DATA COLLECTION PROCESS-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The Administrator shall, after notice and opportunity for comment, promulgate a rule to develop and implement a consistent data collection process for the entrepreneurial development programs.CommentsClose CommentsPermalink





‘(B) CONTENTS- The data collection process developed under subparagraph (A) shall collect data relating to job creation and performance and any other data determined appropriate by the Administrator.CommentsClose CommentsPermalink





‘(3) COORDINATION AND ALIGNMENT OF SBA ENTREPRENEURIAL DEVELOPMENT PROGRAMS- The Administrator, in consultation with other Federal departments and agencies as the Administrator determines is appropriate, shall submit an annual report to Congress describing opportunities to foster coordination of, limit duplication among, and improve program delivery for Federal entrepreneurial development programs.CommentsClose CommentsPermalink





‘(4) DATABASE OF ENTREPRENEURIAL DEVELOPMENT SERVICE PROVIDERS-CommentsClose CommentsPermalink





‘(A) ESTABLISHMENT- After providing a period of 60 days for public comment, the Administrator shall--CommentsClose CommentsPermalink





‘(i) establish a database of providers of entrepreneurial development services; andCommentsClose CommentsPermalink





‘(ii) make the database available through the website of the Administration.CommentsClose CommentsPermalink





‘(B) SEARCHABILITY- The database established under subparagraph (A) shall be searchable by industry, geographic location, and service required.CommentsClose CommentsPermalink





‘(5) COMMUNITY SPECIALIST-CommentsClose CommentsPermalink





‘(A) DESIGNATION- The Administrator shall designate not fewer than 1 staff member in each district office of the Administration as a community specialist whose full-time responsibility is working with local providers of entrepreneurial development services to increase coordination with Federal entrepreneurial development programs.CommentsClose CommentsPermalink





‘(B) PERFORMANCE- The Administrator shall develop benchmarks for measuring the performance of community specialists under this paragraph.’.CommentsClose CommentsPermalink

Subtitle B--Women’s Small Business OwnershipCommentsClose CommentsPermalink

SEC. 421. SHORT TITLE.

This subtitle may be cited as the ‘Women’s Small Business Ownership Act of 2012’.CommentsClose CommentsPermalink

SEC. 422. DEFINITION.

In this subtitle, the term ‘Administrator’ means the Administrator of the Small Business Administration.CommentsClose CommentsPermalink

SEC. 423. OFFICE OF WOMEN’S BUSINESS OWNERSHIP.

(a) In General- Section 29(g) of the Small Business Act (15 U.S.C. 656(g)) is amended--CommentsClose CommentsPermalink





(1) in paragraph (2)--CommentsClose CommentsPermalink





(A) in subparagraph (B)--CommentsClose CommentsPermalink





(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--CommentsClose CommentsPermalink





‘(I) starting, operating, and increasing the business of a small business concern;’; andCommentsClose CommentsPermalink





(ii) in clause (ii), by striking ‘Women’s Business Center program’ each place that term appears and inserting ‘women’s business center program’; andCommentsClose CommentsPermalink





(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’; andCommentsClose CommentsPermalink





(2) by adding at the end the following:CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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--CommentsClose CommentsPermalink





‘(A) providing public notice of any announcement for financial assistance under subsection (b) or a grant under subsection (l) not later than the end of the first quarter of each fiscal year;CommentsClose CommentsPermalink





‘(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);CommentsClose CommentsPermalink





‘(C) minimizing paperwork and reporting requirements for applicants for and recipients of financial assistance under this section;CommentsClose CommentsPermalink





‘(D) standardizing the programmatic and financial examination process; andCommentsClose CommentsPermalink





‘(E) providing to each women’s business center, 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), a copy of any site visit reports or evaluation reports prepared by district office technical representatives or officers or employees of the Administration.’.CommentsClose CommentsPermalink





(b) Change of Title-CommentsClose CommentsPermalink





(1) IN GENERAL- Section 29 of the Small Business Act (15 U.S.C. 656) is amended--CommentsClose CommentsPermalink





(A) in subsection (a)--CommentsClose CommentsPermalink





(i) by striking paragraphs (1) and (4);CommentsClose CommentsPermalink





(ii) by redesignating paragraphs (2) and (3) as paragraphs (4) and (5), respectively; andCommentsClose CommentsPermalink





(iii) by inserting before paragraph (4), as so redesignated, the following:CommentsClose CommentsPermalink





‘(2) the term ‘Director’ means the Director of the Office of Women’s Business Ownership established under subsection (g);’;CommentsClose CommentsPermalink





(B) by striking ‘Assistant Administrator’ each place that term appears and inserting ‘Director’; andCommentsClose CommentsPermalink





(C) in subsection (g)(2), in the paragraph heading, by striking ‘ASSISTANT ADMINISTRATOR’ and inserting ‘DIRECTOR’.CommentsClose CommentsPermalink





(2) Women’S BUSINESS OWNERSHIP ACT OF 1988- Title IV of the Women’s Business Ownership Act of 1988 (15 U.S.C. 7101 et seq.) is amended--CommentsClose CommentsPermalink





(A) in section 403(a)(2)(B), by striking ‘Assistant Administrator’ and inserting ‘Director’;CommentsClose CommentsPermalink





(B) in section 405, by striking ‘Assistant Administrator’ and inserting ‘Director’; andCommentsClose CommentsPermalink





(C) in section 406(c), by striking ‘Assistant Administrator’ and inserting ‘Director’.CommentsClose CommentsPermalink

SEC. 424. 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--CommentsClose CommentsPermalink





(1) in subsection (a), as amended by section 423(b) of this Act--CommentsClose CommentsPermalink





(A) by inserting before paragraph (2) the following:CommentsClose CommentsPermalink





‘(1) the term ‘association of women’s business centers’ means an organization--CommentsClose CommentsPermalink





‘(A) that represents not less than 51 percent of the women’s business centers that participate in a program under this section; andCommentsClose CommentsPermalink





‘(B) whose primary purpose is to represent women’s business centers;’;CommentsClose CommentsPermalink





(B) by inserting after paragraph (2) the following:CommentsClose CommentsPermalink





‘(3) the term ‘eligible entity’ means--CommentsClose CommentsPermalink





‘(A) a private nonprofit organization;CommentsClose CommentsPermalink





‘(B) a State, regional, or local economic development organization;CommentsClose CommentsPermalink





‘(C) a development, credit, or finance corporation chartered by a State;CommentsClose CommentsPermalink





‘(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)); orCommentsClose CommentsPermalink





‘(E) any combination of entities listed in subparagraphs (A) through (D);’; andCommentsClose CommentsPermalink





(C) by adding after paragraph (5) the following:CommentsClose CommentsPermalink





‘(6) the term ‘women’s business center’ means a project conducted by an eligible entity under this section.’;CommentsClose CommentsPermalink





(2) in subsection (b)--CommentsClose CommentsPermalink





(A) by redesignating paragraphs (1), (2), and (3) as subparagraphs (A), (B), and (C), and adjusting the margins accordingly;CommentsClose CommentsPermalink





(B) by striking ‘The Administration’ and all that follows through ‘5-year projects’ and inserting the following:CommentsClose CommentsPermalink





‘(1) IN GENERAL- The Administration may provide financial assistance to an eligible entity to conduct a project under this section’;CommentsClose CommentsPermalink





(C) by striking ‘The projects shall’ and inserting the following:CommentsClose CommentsPermalink





‘(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’; andCommentsClose CommentsPermalink





(D) by adding at the end the following:CommentsClose CommentsPermalink





‘(3) AMOUNT OF FINANCIAL ASSISTANCE-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The Administrator may award financial assistance under this subsection of not less than $100,000 and not more than $150,000 per year.CommentsClose CommentsPermalink





‘(B) LOWER AMOUNT- The Administrator may award financial assistance under this subsection to a recipient in an amount that is less than $100,000 if the Administrator determines that the recipient is unable to make a non-Federal contribution of $100,000 or more, as required under subsection (c).CommentsClose CommentsPermalink





‘(C) EQUAL ALLOCATIONS- If the Administration has insufficient funds to provide financial assistance of not less than $100,000 for each recipient of financial assistance under this subsection in any fiscal year, the Administrator shall provide an equal amount of financial assistance to each recipient in the fiscal year, unless a recipient requests a lower amount than the allocated amount.CommentsClose CommentsPermalink





‘(4) CONSULTATION WITH ASSOCIATIONS OF WOMEN’S BUSINESS CENTERS- The Administrator shall consult with each association of women’s business centers to develop--CommentsClose CommentsPermalink





‘(A) a training program for the staff of women’s business centers and the Administration; andCommentsClose CommentsPermalink





‘(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).’;CommentsClose CommentsPermalink





(3) in subsection (c)--CommentsClose CommentsPermalink





(A) in paragraph (1) by striking ‘the recipient organization’ and inserting ‘an eligible entity’;CommentsClose CommentsPermalink





(B) in paragraph (3), in the second sentence, by striking ‘a recipient organization’ and inserting ‘an eligible entity’;CommentsClose CommentsPermalink





(C) in paragraph (4)--CommentsClose CommentsPermalink





(i) by striking ‘recipient of assistance’ and inserting ‘eligible entity’;CommentsClose CommentsPermalink





(ii) by striking ‘such organization’ and inserting ‘the eligible entity’; andCommentsClose CommentsPermalink





(iii) by striking ‘recipient’ and inserting ‘eligible entity’;CommentsClose CommentsPermalink





(D) in paragraph (5)--CommentsClose CommentsPermalink





(i) in subparagraph (A), by striking ‘a recipient organization’ and inserting ‘an eligible entity’; andCommentsClose CommentsPermalink





(ii) by striking ‘the recipient organization’ each place it appears and inserting ‘the eligible entity’; andCommentsClose CommentsPermalink





(E) by adding at end the following:CommentsClose CommentsPermalink





‘(6) SEPARATION OF PROJECT AND FUNDS- An eligible entity shall--CommentsClose CommentsPermalink





‘(A) carry out a project under this section separately from other projects, if any, of the eligible entity; andCommentsClose CommentsPermalink





‘(B) separately maintain and account for any financial assistance under this section.’;CommentsClose CommentsPermalink





(4) in subsection (e)--CommentsClose CommentsPermalink





(A) by striking ‘applicant organization’ and inserting ‘eligible entity’;CommentsClose CommentsPermalink





(B) by striking ‘a recipient organization’ and inserting ‘an eligible entity’; andCommentsClose CommentsPermalink





(C) by striking ‘site’;CommentsClose CommentsPermalink





(5) by striking subsection (f) and inserting the following:CommentsClose CommentsPermalink





‘(f) Applications and Criteria for Initial Financial Assistance-CommentsClose CommentsPermalink





‘(1) APPLICATION- Each eligible entity desiring financial assistance under subsection (b) shall submit to the Administrator an application that contains--CommentsClose CommentsPermalink





‘(A) a certification that the eligible entity--CommentsClose CommentsPermalink





‘(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 on a full-time basis;CommentsClose CommentsPermalink





‘(ii) as a condition of receiving financial assistance under subsection (b), agrees--CommentsClose CommentsPermalink





‘(I) to receive a site visit by the Administrator as part of the final selection process;CommentsClose CommentsPermalink





‘(II) to undergo an annual programmatic and financial examination; andCommentsClose CommentsPermalink





‘(III) to the maximum extent practicable, to remedy any problems identified pursuant to the site visit or examination under subclause (I) or (II); andCommentsClose CommentsPermalink





‘(iii) meets the accounting and reporting requirements established by the Director of the Office of Management and Budget;CommentsClose CommentsPermalink





‘(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);CommentsClose CommentsPermalink





‘(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;CommentsClose CommentsPermalink





‘(D) information demonstrating the experience and effectiveness of the eligible entity in--CommentsClose CommentsPermalink





‘(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;CommentsClose CommentsPermalink





‘(ii) providing training and services to a representative number of women who are socially and economically disadvantaged; andCommentsClose CommentsPermalink





‘(iii) working with resource partners of the Administration and other entities, such as universities; andCommentsClose CommentsPermalink





‘(E) a 5-year plan that describes the ability of the women’s business center for which financial assistance is sought--CommentsClose CommentsPermalink





‘(i) to serve women who are business owners or potential business owners by conducting training and counseling activities; andCommentsClose CommentsPermalink





‘(ii) to provide training and services to a representative number of women who are socially and economically disadvantaged.CommentsClose CommentsPermalink





‘(2) ADDITIONAL INFORMATION- The Administrator shall make any request for additional information from an organization applying for financial assistance under subsection (b) that was not requested in the original announcement in writing.CommentsClose CommentsPermalink





‘(3) REVIEW AND APPROVAL OF APPLICATIONS FOR INITIAL FINANCIAL ASSISTANCE-CommentsClose CommentsPermalink





‘(A) IN GENERAL- The Administrator shall--CommentsClose CommentsPermalink





‘(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; andCommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(B) SELECTION CRITERIA-CommentsClose CommentsPermalink





‘(i) IN GENERAL- The Administrator shall evaluate applicants for financial assistance under subsection (b) in accordance with selection criteria that are--CommentsClose CommentsPermalink





‘(I) established before the date on which applicants are required to submit the applications;CommentsClose CommentsPermalink





‘(II) stated in terms of relative importance; andCommentsClose CommentsPermalink





‘(III) publicly available and stated in each solicitation for applications for financial assistance under subsection (b) made by the Administrator.CommentsClose CommentsPermalink





‘(ii) REQUIRED CRITERIA- The selection criteria for financial assistance under subsection (b) shall include--CommentsClose CommentsPermalink





‘(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;CommentsClose CommentsPermalink





‘(II) the ability of the applicant to begin a project within a minimum amount of time;CommentsClose CommentsPermalink





‘(III) the ability of the applicant to provide training and services to a representative number of women who are socially and economically disadvantaged; andCommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(D) RECORD RETENTION- The Administrator shall maintain a copy of each application submitted under this subsection for not less than 7 years.’; andCommentsClose CommentsPermalink





(6) in subsection (m)--CommentsClose CommentsPermalink





(A) by striking paragraph (3) and inserting the following:CommentsClose CommentsPermalink





‘(3) APPLICATION AND APPROVAL FOR RENEWAL GRANTS-CommentsClose CommentsPermalink





‘(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 2012, and every third fiscal year thereafter.CommentsClose CommentsPermalink





‘(B) CONTENTS OF APPLICATION- Each eligible entity desiring a grant under this subsection shall submit to the Administrator an application that contains--CommentsClose CommentsPermalink





‘(i) a certification that the applicant--CommentsClose CommentsPermalink





‘(I) is an eligible entity;CommentsClose CommentsPermalink





‘(II) has designated a full-time executive director or program manager to manage the women’s business center operated by the applicant; andCommentsClose CommentsPermalink





‘(III) as a condition of receiving a grant under this subsection, agrees--CommentsClose CommentsPermalink

‘(aa) to receive a site visit as part of the final selection process;CommentsClose CommentsPermalink

‘(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; andCommentsClose CommentsPermalink

‘(cc) to remedy any problem identified pursuant to the site visit or examination under item (aa) or (bb);CommentsClose CommentsPermalink

‘(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);CommentsClose CommentsPermalink





‘(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;CommentsClose CommentsPermalink





‘(iv) information demonstrating that the applicant has worked with resource partners of the Administration and other entities;CommentsClose CommentsPermalink





‘(v) a 3-year plan that describes the ability of the women’s business center for which a grant under this subsection is sought--CommentsClose CommentsPermalink





‘(I) to serve women who are business owners or potential business owners by conducting training and counseling activities; andCommentsClose CommentsPermalink





‘(II) to provide training and services to a representative number of women who are socially and economically disadvantaged; andCommentsClose CommentsPermalink





‘(vi) any additional information that the Administrator may reasonably require.CommentsClose CommentsPermalink





‘(C) REVIEW AND APPROVAL OF APPLICATIONS FOR GRANTS-CommentsClose CommentsPermalink





‘(i) IN GENERAL- The Administrator shall--CommentsClose CommentsPermalink





‘(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; andCommentsClose CommentsPermalink





‘(II) whenever practicable, 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.CommentsClose CommentsPermalink





‘(ii) SELECTION CRITERIA-CommentsClose CommentsPermalink





‘(I) IN GENERAL- The Administrator shall evaluate applicants for grants under this subsection in accordance with selection criteria that are--CommentsClose CommentsPermalink

‘(aa) established before the date on which applicants are required to submit the applications;CommentsClose CommentsPermalink

‘(bb) stated in terms of relative importance; andCommentsClose CommentsPermalink

‘(cc) publicly available and stated in each solicitation for applications for grants under this subsection made by the Administrator.CommentsClose CommentsPermalink

‘(II) REQUIRED CRITERIA- The selection criteria for a grant under this subsection shall include--CommentsClose CommentsPermalink

‘(aa) the total number of entrepreneurs served by the applicant;CommentsClose CommentsPermalink

‘(bb) the total number of new startup companies assisted by the applicant;CommentsClose CommentsPermalink

‘(cc) the percentage of clients of the applicant that are socially or economically disadvantaged; andCommentsClose CommentsPermalink

‘(dd) the percentage of individuals in the community served by the applicant who are socially or economically disadvantaged.CommentsClose CommentsPermalink

‘(iii) CONDITIONS FOR CONTINUED FUNDING- In determining whether to make a grant under this subsection, the Administrator--CommentsClose CommentsPermalink





‘(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; andCommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(E) RECORD RETENTION- The Administrator shall maintain a copy of each application submitted under this paragraph for not less than 7 years.’; andCommentsClose CommentsPermalink





(B) by striking paragraph (5) and inserting the following:CommentsClose CommentsPermalink





‘(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.’.CommentsClose CommentsPermalink





(b) Technical and Conforming Amendments-CommentsClose CommentsPermalink





(1) IN GENERAL- Section 29 of the Small Business Act (15 U.S.C. 656) is amended--CommentsClose CommentsPermalink





(A) in subsection (h)(2), by striking ‘to award a contract (as a sustainability grant) under subsection (l) or’;CommentsClose CommentsPermalink





(B) in subsection (j)(1), by striking ‘The Administration’ and inserting ‘Not later than November 1 of each year, the Administrator’;CommentsClose CommentsPermalink





(C) in subsection (k)--CommentsClose CommentsPermalink





(i) by striking paragraphs (1), (2), and (4);CommentsClose CommentsPermalink





(ii) by redesignating paragraph (3) as paragraph (4); andCommentsClose CommentsPermalink





(iii) by inserting before paragraph (4), as so redesignated, the following:CommentsClose CommentsPermalink





‘(1) IN GENERAL- There are authorized to be appropriated to the Administration to carry out this section, to remain available until expended, $14,500,000 for each of fiscal years 2013, 2014, and 2015.CommentsClose CommentsPermalink





‘(2) USE OF FUNDS- Amounts made available under this subsection may only be used for grant awards and may not be used for costs incurred by the Administration in connection with the management and administration of the program under this section.CommentsClose CommentsPermalink





‘(3) CONTINUING GRANT AND COOPERATIVE AGREEMENT AUTHORITY-CommentsClose CommentsPermalink





‘(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.CommentsClose CommentsPermalink





‘(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--CommentsClose CommentsPermalink





‘(i) provides the women’s business center with written notification setting forth the reasons for that action; andCommentsClose CommentsPermalink





‘(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.’;CommentsClose CommentsPermalink





(D) in subsection (m)--CommentsClose CommentsPermalink





(i) in paragraph (2), by striking ‘subsection (b) or (l)’ and inserting ‘this subsection or subsection (b)’; andCommentsClose CommentsPermalink





(ii) in paragraph (4)(D), by striking ‘or subsection (l)’; andCommentsClose CommentsPermalink





(E) by redesignating subsections (m) and (n), as amended by this Act, as subsections (l) and (m), respectively.CommentsClose CommentsPermalink





(2) PROSPECTIVE REPEAL- Section 1401(c)(2) of the Small Business Jobs Act of 2010 (15 U.S.C. 636 note) is amended--CommentsClose CommentsPermalink





(A) in subparagraph (A), by striking ‘and’ at the end;CommentsClose CommentsPermalink





(B) in subparagraph (B), by striking the period at the end and inserting ‘; and’; andCommentsClose CommentsPermalink





(C) by adding at the end the following:CommentsClose CommentsPermalink





‘(C) by redesignating paragraph (6), as added by section 424(a)(3)(E) of the Women’s Small Business Ownership Act of 2012, as paragraph (5).’.CommentsClose CommentsPermalink





(c) Effect on Existing Grants-CommentsClose CommentsPermalink





(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.CommentsClose CommentsPermalink





(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 (b)(1)(E) 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--CommentsClose CommentsPermalink





(A) beginning on the day after the last day of the grant agreement under such section 29(m); andCommentsClose CommentsPermalink





(B) ending at the end of the third fiscal year beginning after the date of enactment of this Act.CommentsClose CommentsPermalink