Successful Entrepreneurship for Reservists and Veterans Act

IIB 116TH CONGRESS 1ST SESSION H. R. 3734 IN THE SENATE OF THE UNITED STATES NOVEMBER 14, 2019 Received; read twice and referred to the Committee on Small Business and Entrepreneurship AN ACT To require the Comptroller General of the United States to report on access to credit for small business concerns owned and controlled by covered individuals, to require the Administrator of the Small Business Administration to report on the veterans interagency task force, and for other purposes. VerDate Sep 11 2014 21:02 Nov 14, 2019 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6652 E:\BILLS\H3734.RFS H3734 pamtmann on DSKBC07HB2PROD with BILLS 2 HR 3734 RFS Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Successful Entrepre- 4 neurship for Reservists and Veterans Act’’ or the ‘‘SERV 5 Act’’. 6 SEC. 2. REPORTING REQUIREMENT FOR VETERANS INTER- 7 AGENCY TASK FORCE. 8 Section 32(c) of the Small Business Act (15 U.S.C. 9 657b(c)) is amended by adding at the end the following: 10 ‘‘(4) REPORT.—Along with the budget justifica- 11 tion documents for the Small Business Administra- 12 tion submitted to Congress in connection with the 13 budget for a fiscal year submitted under 1105 of 14 title 31, United States Code, the Administrator shall 15 submit a report— 16 ‘‘(A) discussing the appointments made to 17 and activities of the task force; and 18 ‘‘(B) identifying and outlining a plan for 19 outreach and promotion of the programs and 20 services for veterans, including Veteran Busi- 21 ness Outreach Centers, Boots to Business, 22 Boots to Business Reboot, Service-Disabled En- 23 trepreneurship Development Training Program, 24 Veteran Institute for Procurement, Women Vet- 25 VerDate Sep 11 2014 21:02 Nov 14, 2019 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H3734.RFS H3734 pamtmann on DSKBC07HB2PROD with BILLS 3 HR 3734 RFS eran Entrepreneurship Training Program, and 1 Veteran Women Igniting the Spirit of Entrepre- 2 neurship.’’. 3 SEC. 3. GAO REPORT ON ACCESS TO CREDIT. 4 (a) REPORT ON ACCESS TO CREDIT.— 5 (1) IN GENERAL.—Not later than 1 year after 6 the date of the enactment of this Act, the Comp- 7 troller General of the United States shall submit a 8 report on the ability of small business concerns 9 owned and controlled by covered individuals to ac- 10 cess credit to— 11 (A) the Committee on Veterans’ Affairs 12 and the Committee on Small Business and En- 13 trepreneurship of the Senate; and 14 (B) the Committee on Veterans’ Affairs 15 and the Committee on Small Business of the 16 House of Representatives. 17 (2) CONTENTS.—The report submitted under 18 paragraph (1) shall include, to the extent prac- 19 ticable, an analysis of— 20 (A) the sources of credit used by small 21 business concerns owned and controlled by cov- 22 ered individuals and the average percentage of 23 the credit obtained from each source by such 24 concerns; 25 VerDate Sep 11 2014 21:02 Nov 14, 2019 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H3734.RFS H3734 pamtmann on DSKBC07HB2PROD with BILLS 4 HR 3734 RFS (B) the default rate for small business con- 1 cerns owned and controlled by covered individ- 2 uals, disaggregated by each source of credit de- 3 scribed in subparagraph (A), as compared to 4 the default rate for the source of credit for 5 small business concerns generally; 6 (C) the Federal lending programs available 7 to provide credit to small business concerns 8 owned and controlled by covered individuals; 9 (D) gaps, if any, in the availability of cred- 10 it for small business concerns owned and con- 11 trolled by covered individuals that are not being 12 filled by the Federal Government or private 13 sources; 14 (E) obstacles faced by covered individuals 15 in trying to access credit; 16 (F) the extent to which deployment and 17 other military responsibilities affect the credit 18 history of veterans and Reservists; and 19 (G) the extent to which covered individuals 20 are aware of Federal programs targeted to- 21 wards helping covered individuals access credit. 22 (b) DEFINITIONS.—In this Act: 23 (1) COVERED INDIVIDUAL.—The term ‘‘covered 24 individual’’ means— 25 VerDate Sep 11 2014 21:02 Nov 14, 2019 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H3734.RFS H3734 pamtmann on DSKBC07HB2PROD with BILLS 5 HR 3734 RFS (A) a veteran; 1 (B) a service-disabled veteran; 2 (C) a Reservist; 3 (D) the spouse of an individual described 4 in subparagraph (A), (B), or (C); or 5 (E) the spouse of a member of the Armed 6 Forces. 7 (2) RESERVIST.—The term ‘‘Reservist’’ means 8 a member of a reserve component of the Armed 9 Forces, as described in section 10101 of title 10, 10 United States Code. 11 (3) SMALL BUSINESS ACT DEFINITIONS.—The 12 terms ‘‘service-disabled veteran’’, ‘‘small business 13 concern’’, and ‘‘veteran’’ have the meanings given 14 those terms, respectively, under section 3 of the 15 Small Business Act (15 U.S.C. 632). 16 Passed the House of Representatives November 13, 2019. Attest: CHERYL L. JOHNSON, Clerk. VerDate Sep 11 2014 21:02 Nov 14, 2019 Jkt 099200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H3734.RFS H3734 pamtmann on DSKBC07HB2PROD with BILLS