,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #bbe  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #c1 #bjai ,ms4
 ,velzquez introduc$ ! foll[+ bill2 :i* 
0 ref]r$ to ! ,committee on ,small      
,bus9ess  ,a ,,bill  ,to provide = small
 bus9ess conc]ns locat$ 9 ,pu]to ,rico1 
& = o!r purposes4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,pu]to ,rico ,small
 ,bus9ess ,assi/ance ,act ( #bjai4  #b4 
,table ( cont5ts ,! table ( cont5ts =   
?is ,act are z foll[s3  ,sec4 #a4 ,%ort 
title4 ,sec4 #b4 ,table ( cont5ts4 ,sec4
 #c4 ,def9itions4 ,title ,i--,l5d+ ,sec4
 #aja4 ,microloan program = ,pu]to ,rico
 small bus9ess conc]ns4 ,sec4 #ajb4 ,fee
 r$uctions4 ,sec4 #ajc4 ,economic       
/imulus l5d+ program = small bus9esses4 
,sec4 #ajd4 ,contribution p]c5tages =   
#ejd projects4 ,sec4 #aje4 ,indep5d5t   
subsidy calculation4 ,title             
,,ii--,procurem5t ,sec4 #bja4 ,contract+
 pref]5ce = ,pu]to ,rico bus9esses4     
,title ,,iii--,entrepr5eurial           
,developm5t ,sec4 #cja4 ,vet]an ,bus9ess

 ,outrea* ,c5t] 9 ,pu]to ,rico4 ,sec4   
#cjb4 ,,fa/ grant program = ,pu]to      
,rico4  #c4 ,def9itions ,9 ?is ,act3    
7#a7 ,adm9i/rator ,! t]m ,adm9i/rator   
means ! ,adm9i/rator ( ! ,small ,bus9ess
 ,adm9i/ration4  7#b7 ,ov]sight ,bo>d   
t]m9ation date ,! t]m ,ov]sight ,bo>d   
t]m9ation date means ! date on :i* !    
,ov]sight ,bo>d e/abli%$ "u section #aja
 ( ! ,pu]to ,rico ,ov]sight1 ,managem5t1
 & ,economic ,/ability ,act 7#dh        
,u4,s4,c4 #baba7 t]m9ates4  7#c7 ,pu]to 
,rico ,! t]m ,pu]to ,rico means !       
,commonweal? ( ,pu]to ,rico4  7#d7      
,pu]to ,rico bus9ess ,! t]m ,pu]to ,rico
 bus9ess has ! mean+ giv5 9 section     
#c7;ee7 ( ! ,small ,bus9ess ,act 7#ae   
,u4,s4,c4 #fcb7;ee774  7#e7 ,small      
bus9ess conc]n ,! t]m small bus9ess     
conc]n has ! mean+ giv5 su* t]m "u      
section #c ( ! ,small ,bus9ess ,act 7#ae
 ,u4,s4,c4 #fcb74  ,i ,l5d+  #aja4      
,microloan program = ,pu]to ,rico small 
bus9ess conc]ns  7a7 ,increase 9 access 
to capital = c]ta9 int]m$i>ies ,section 

#g7m77#c77;,c7 ( ! ,small ,bus9ess ,act 
7#ae ,u4,s4,c4 #fcf7m77#c77;,c77 is     
am5d$-- 7#a7 by ins]t+ & except z       
provid$ 9 clause 7ii7 aft] subsection   
7a77#c72  7#b7 by /rik+ ,not)/&+ &      
ins]t+ ! foll[+3  7i7 ,9 g5]al ,not)/&+ 
2 &  7#c7 by add+ at ! end ! foll[+3    
7ii7 ,exception = c]ta9 ,pu]to ,rico    
bus9esses  7,i7 ,9 g5]al ,no loan %all  
be made "u ?is subsection if ! total    
am\nt out/&+ & committ$ to #a cov]$     
int]m$i>y 7exclud+ out/&+ grants7 f !   
bus9ess loan & inve/m5t fund e/abli%$ by
 ?is ,act w\ld1 z a result ( su* loan1  
exce$ #f1jjj1jjj 9 ! rema9+ ye>s ( !    
cov]$ int]m$i>y's p>ticipation 9 !      
program4  7,,ii7 ,def9ition ,9 ?is      
clause1 ! t]m cov]$ int]m$i>y means an  
int]m$i>y t-- 7aa7 is p>ticipat+ 9 !    
program2 &  7bb7 submits to !           
,adm9i/rator a c]tification t n less ?an
 #bj p]c5t ( ! microloans made by !     
int]m$i>y "u ?is subsection1 dur+ su*   
p]iod z ! ,adm9i/rator may specify1 w be
 made to ,pu]to ,rico bus9esses4  4  7b7

 ,waiv] ( #be_/ge rule = microloans to  
,pu]to ,rico small bus9ess conc]ns  7#a7
 ,waiv] au?oriz$ ,section #g7m77#d77;,e7
 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4
 #fcf7m77#d77;,e77 is am5d$--  7,a7 9   
clause 7i71 by /rik+ ,ea* & ins]t+      
,except z provid$ 9 clause 7iii71 ea*2 &
  7,b7 by add+ at ! end ! foll[+3  7iii7
 ,exception = c]ta9 int]m$i>ies ,!      
,adm9i/rator %all waive ! requirem5ts ( 
clause 7i7 = an int]m$i>y = :i* n less  
?an #be p]c5t ( ! loans made by !       
int]m$i>y are made to ,pu]to ,rico      
bus9esses4  4  7#b7 ,/udy ,n lat] ?an   
#ah mon?s aft] ! date ( enactm5t ( ?is  
,act1 ! ,adm9i/rator %all submit to     
,congress a report on ! impact ( waiv+ !
 requirem5ts ( section #g7m77#d77;,e77i7
 ( ! ,small ,bus9ess ,act = all         
int]m$i>ies receiv+ grant funds "u      
section #g7m77#a77;,b77ii7 ( ! ,small   
,bus9ess ,act1 :i* %all include an      
analysis ( ! effectiv5ess & feasibility 
( exp&+ ! waiv] to small bus9ess conc]ns
 nationwide4  7c7 ,prospective repeal   

,subsections 7a7 & 7b7 %all be repeal$1 
& ! provisions ( law am5d$ by su*       
subsections %all be re/or$ z if su*     
subsections _h n be5 enact$1 on !       
,ov]sight ,bo>d t]m9ation date4  7d7    
,,gao /udy ,n lat] ?an #ahj days aft] ! 
date ( enactm5t ( ?is ,act1 !           
,comptroll] ,g5]al ( ! ,unit$ ,/ates    
%all complete a /udy & submit to !      
,committee on ,small ,bus9ess &         
,entrepr5eur%ip ( ! ,s5ate & !          
,committee on ,small ,bus9ess ( ! ,h\se 
( ,repres5tatives a report on ! foll[+3 
7#a7 ,! op]ations 7includ+ s]vices      
provid$1 /ructure1 size1 & area (       
op]ation7 ( a repres5tative sample (--  
7,a7 int]m$i>ies t are eligible =       
p>ticipation 9 ! microloan program "u   
section #g7m7 ( ! ,small ,bus9ess ,act  
7#ae ,u4,s4,c4 #fcf7m77 & t p>ticipate 9
 ! microloan program2 &  7,b7           
int]m$i>ies 7includ+ ^? op]at$ = pr(it1 
op]at$ z nonpr(it organizations1 &      
affiliat$ ) a ,unit$ ,/ates in/itution (
 high] le>n+ 7z def9$ 9 section #cdeb ( 

title #ch1 ,unit$ ,/ates ,code7 t are s 
eligible & t d n p>ticipate 9 !         
microloan program4  7#b7 ,! reasons :y  
int]m$i>ies describ$ 9 p>agraph         
7#a77;,b7 *oose n to p>ticipate 9 !     
microloan program4  7#c7 ,recomm5dations
 on h[ to enc\rage increas$ p>ticipation
 9 ! microloan program by int]m$i>ies   
describ$ 9 p>agraph 7#a77;,b74  7#d7    
,recomm5dations = increas+ ! numb] (    
int]m$i>ies locat$ 9 ! t]ritories ( !   
,unit$ ,/ates or 9 economically di/ress$
 areas 7z def9$ 9 section               
#g7m77#aa77;,d7 ( ! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fcf7m77#aa77;,d77 t are
 eligible = p>ticipation 9 ! microloan  
program "u section #g7m7 ( su* ,act4    
7#e7 ,recomm5dations on h[ to decrease !
 co/s associat$ ) p>ticipation 9 !      
microloan program = eligible            
int]m$i>ies4  #ajb4 ,fee r$uctions  7a7 
,adm9i/rative provisions = ! ,small     
,bus9ess ,adm9i/ration  7#a7 ,def9ition 
,9 ?is subsection1 ! t]m cov]$ bus9ess  
loan means a loan--  7,a7 ( n m ?an     

#b1jjj1jjj2  7,b7 t is gu>ante$ by !    
,adm9i/rator "u section #g7;a7 ( !      
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fcf7;a772  7,c7 = :i* ! application is 
approv$ on or aft] ! date ( enactm5t (  
?is ,act2 &  7,d7 t is made to a ,pu]to 
,rico bus9ess4  7#b7 ,fees ,dur+ ! p]iod
 beg9n+ on ! date ( enactm5t ( ?is ,act 
& end+ on ! ,ov]sight ,bo>d t]m9ation   
date1 & to ! ext5t t ! co/ ( su*        
elim9ation or r$uction ( fees is (fset  
by appropriations1 ) respect to ea*     
cov]$ bus9ess loan1 ! ,adm9i/rator      
%all-- 7,a7 9 lieu ( ! fee o!rwise      
applicable "u section #g7;a77#bc77;,a7 (
 ! ,small ,bus9ess ,act1 collect no fee 
or r$uce fees to ! maximum ext5t        
possible2 &  7,b7 9 lieu ( ! fee o!rwise
 applicable "u section #g7;a77#ah77;,a7 
( ! ,small ,bus9ess ,act1 collect no fee
 or r$uce fees to ! maximum ext5t       
possible4  7b7 ,tempor>y fee elim9ation 
= ! #ejd loan program  7#a7 ,9 g5]al    
,dur+ ! p]iod beg9n+ on ! date (        
enactm5t ( ?is ,act & end+ on !         

,ov]sight ,bo>d t]m9ation date1 & to !  
ext5t ! co/ ( su* elim9ation 9 fees is  
(fset by appropriations1 ) respect to   
ea* loan ( n m ?an #b1jjj1jjj gu>ante$  
by ! ,adm9i/rator "u title ,v ( ! ,small
 ,bus9ess ,inve/m5t ,act ( #aieh 7#ae   
,u4,s4,c4 #fie et seq47 ) respect to a  
developm5t company t has its pr9cipal   
(fice locat$ 9 ,pu]to ,rico & = :i* an  
application is approv$ or p5d+ approval 
on or aft] ! date ( enactm5t ( ?is      
,act--  7,a7 ! ,adm9i/rator %all1 9 lieu
 ( ! fee o!rwise applicable "u section  
#ejc7;d77#b7 ( ! ,small ,bus9ess        
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fig7;d77#b771 collect no fee2 &  7,b7 a
 developm5t company %all1 9 lieu ( !    
process+ fee "u section #abj4iga7;a77#a7
 ( title #ac1 ,code ( ,f$]al            
,regulations 7relat+ to fees paid by    
borr[]s71 or any successor !reto1       
collect no fee4  7#b7 ,reimbursem5t =   
waiv$ fees  7,a7 ,9 g5]al ,to ! ext5t t 
! co/ ( su* paym5ts is (fset by         
appropriations1 ! ,adm9i/rator %all     

reimburse ea* developm5t company t does 
n collect a process+ fee "u p>agraph    
7#a77;,b74  7,b7 ,am\nt ,! reimbursem5t 
to a developm5t company "u subp>agraph  
7,a7 %all be 9 an am\nt equal to #a4e   
p]c5t ( ! net deb5ture proce$s = :i* !  
developm5t company does n collect a     
process+ fee "u p>agraph 7#a77;,b74  7c7
 ,application ( fee elim9ations ,to !   
ext5t t am\nts are made available to !  
,adm9i/rator = ! purpose ( fee          
elim9ations or r$uctions "u subsection  
7a71 ! ,adm9i/rator %all-- 7#a7 fir/ use
 any am\nts provid$ to elim9ate or r$uce
 fees paid by borr[]s "u clauses 7i71   
7ii71 & 7iii7 ( section #g7;a77#ah77;,a7
 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4
 #fcf7;a77#ah77;,a771 to ! maximum ext5t
 possible2  7#b7 to ! ext5t am\nts      
provid$ rema9 aft] use 9 accordance )   
p>agraph 7#a71 use any am\nts provid$ to
 elim9ate or r$uce fees "u section      
#g7;a77#bc77;,a7 ( ! ,small ,bus9ess    
,act 7#ae ,u4,s4,c4 #fcf7;a77#bc77;,a77 
paid by l5d]s ) assets ( n m ?an        

#a1jjj1jjj1jjj1 z ( ! date ( enactm5t ( 
?is ,act2 &  7#c7 to ! ext5t am\nts     
provid$ rema9 aft] use 9 accordance )   
p>agraphs 7#a7 & 7#b71 use any rema9+   
am\nts provid$ to r$uce fees "u section 
#g7;a77#bc77;,a7 ( ! ,small ,bus9ess    
,act paid by l5d]s o!r ?an ^? describ$  
"u p>agraph 7#b74  #ajc4 ,economic      
/imulus l5d+ program = small bus9esses  
7a7 ,au?ority ,not)/&+ section #g7;a7 ( 
! ,small ,bus9ess ,act 7#ae ,u4,s4,c4   
#fcf7;a771 = a qualify+ small bus9ess   
loan ! ,adm9i/rator may gu>antee n m ?an
 #ij p]c5t ( ! balance ( ! f9anc+ out/&+
 at ! "t ( disbursem5t ( ! loan1 if su* 
balance is less ?an or equal to         
#b1jjj1jjj4  7b7 ,qualify+ small bus9ess
 loan def9$ ,= purposes ( ?is section1 !
 t]m qualify+ small bus9ess loan means  
any loan to a ,pu]to ,rico bus9ess made 
pursuant to section #g7;a7 ( ! ,small   
,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a771 
except = su* loans made "u section      
#g7;a77#ca7 ( su* ,act 7#ae ,u4,s4,c4   
#fcf7;a77#ca774  7c7 ,qualifi$ borr[]s  

7#a7 ,ali5s unlawfully pres5t 9 ! ,unit$
 ,/ates ,! ,adm9i/rator may n gu>antee a
 loan made "u ?is section to a small    
bus9ess conc]n if an individual :o is an
 ali5 unlawfully pres5t 9 ! ,unit$      
,/ates-- 7,a7 has an own]%ip int]e/ 9 t 
conc]n2 or  7,b7 has an own]%ip int]e/ 9
 ano!r conc]n t itself has an own]%ip   
int]e/ 9 t conc]n4  7#b7 ,firms 9       
violation ( immigration laws ,!         
,adm9i/rator may n gu>antee a loan made 
"u ?is section to any entity1 bas$ on a 
det]m9ation by ! ,secret>y ( ,homel&    
,security or ! ,attorney ,g5]al1 f\nd to
 h engag$ 9 a patt]n or practice ( hir+1
 recruit+1 or ref]r+ = a fee = employm5t
 9 ! ,unit$ ,/ates an ali51 if su*      
entity kn[s t ! p]son is an unau?oriz$  
ali54  7d7 ,crim9al backgr\nd *ecks     
,prior to gu>antee+ a loan made "u ?is  
section1 ! ,adm9i/rator may v]ify !     
applicant's crim9al backgr\nd1 or lack  
!re(1 ?r\gh ! be/ available means1      
includ+1 if possible1 use ( ! ,national 
,crime ,in=mation ,c5t] comput] sy/em at

 ! ,f$]al ,bureau ( ,inve/igation4  7e7 
,application ( o!r law ,no?+ 9 ?is      
section %all be con/ru$ to exempt any   
activity ( ! ,adm9i/rator "u ?is section
 f ! ,f$]al ,cr$it ,re=m ,act ( #aiij4  
7f7 ,small ,bus9ess ,act provisions     
,except z o!rwise provid$ 9 ?is section1
 ! requirem5ts ( section #g ( ! ,small  
,bus9ess ,act 7& regulations promulgat$ 
!reund]7 applicable to loan gu>antees on
 or be=e ! date ( enactm5t ( ?is ,act   
%all apply to loan gu>antees made "u ?is
 section4  7g7 ,sunset ,! ,adm9i/rator  
may n gu>antee a loan made "u ?is       
section aft] ! ,ov]sight ,bo>d t]m9ation
 date4  #ajd4 ,contribution p]c5tages = 
#ejd projects ,not)/&+ section #ejb7c7 (
 ! ,small ,bus9ess ,inve/m5t ,act (     
#aieh 7#ae ,u4,s4,c4 #fif7c771 dur+ !   
p]iod beg9n+ on ! date ( enactm5t ( ?is 
,act & end+ on ! ,ov]sight ,bo>d        
t]m9ation date1 ! ,adm9i/rator may      
gu>antee a deb5ture issu$ by a          
developm5t company t has its pr9cipal   
(fice locat$ 9 ,pu]to ,rico if1 ( !     

total co/ ( ! project f9anc$-- 7#a7 #ej 
p]c5t is d]iv$ f a loan f a private     
sector l5d]2  7#b7 #de p]c5t is d]iv$ f 
a loan made f ! proce$s ( su* deb5ture  
issu$ by ! developm5t company2 &  7#c7  
#e p]c5t is provide by ! borr[] ( su*   
loans4  #aje4 ,indep5d5t subsidy        
calculation ,9 mak+ calculations "u     
section #g7;a77#bf7 ( ! ,small ,bus9ess 
,act 7#ae ,u4,s4,c4 #fcf7;a77#bf77 or   
section #ejc7;g7 ( ! ,small ,bus9ess    
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fig7;g771 ! ,director ( ! ,(fice (     
,managem5t & ,budget %all make su*      
calculations sep>ately = loans pur*as$  
or gu>ante$ "u ! au?ority "u section    
#ajb1 #ajc1 or #ajd ( ?is ,act4  ,,ii   
,procurem5t  #bja4 ,contract+ pref]5ce =
 ,pu]to ,rico bus9esses ,section #ae7x7 
( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 
#fdd7x77 is am5d$--  7#a7 9 ! subsection
 head+1 by /rik+ ,small ,bus9ess ,cr$it 
& ins]t+ ,contract+2  7#b7 by r$esignat+
 p>agraph 7#b7 z subp>agraph 7,b7 7&    
con=m+ ! m>g9s accord+ly72  7#c7 by     

/rik+ ,if an ag5cy & ins]t+3  7,a7 ,9   
g5]al ,if an ag5cy  2  7#d7 9           
subp>agraph 7,b71 z s r$esignat$-- 7,a7 
by /rik+ p>agraph 7#a7 & ins]t+         
subp>agraph 7,a72 &  7,b7 by /rik+      
p>agraph & ins]t+ subp>agraph2 &  7#e7  
by add+ at ! end ! foll[+ new p>agraph3 
7#b7 ,contract+ pref]5ce = ,pu]to ,rico 
bus9esses ,an ag5cy %all provide a      
contract+ pref]5ce = a ,pu]to ,rico     
bus9ess dur+ ! p]iod beg9n+ on ! date ( 
enactm5t ( ?is p>agraph & end+ on ! date
 on :i* ! ,ov]sight ,bo>d e/abli%$ "u   
section #aja ( ! ,pu]to ,rico ,ov]sight1
 ,managem5t1 & ,economic ,/ability ,act 
7#dh ,u4,s4,c4 #baba7 t]m9ates4 ,!      
pref]5ce "u ?is p>agraph %all take      
priority ov] any pref]5ce = pur*as+ f ! 
procurem5t li/ e/abli%$ pursuant to     
section #hejc ( title #da1 ,unit$ ,/ates
 ,code1 or ! ,f$]al ,prison ,indu/ries  
catalog describ$ "u section #dabd7;d7 ( 
title #ah1 ,unit$ ,/ates ,code4  4      
,,iii ,entrepr5eurial ,developm5t  #cja4
 ,vet]an ,bus9ess ,outrea* ,c5t] 9      

,pu]to ,rico  7a7 ,9 g5]al ,section #cb 
( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 
#feg;b7 is am5d$--  7#a7 by r$esignat+  
subsection 7f7 z subsection 7g72 &  7#b7
 by ins]t+ aft] subsection 7e7 ! foll[+3
  7f7 ,vet]an ,bus9ess ,outrea* ,c5t] 9 
,pu]to ,rico ,! ,adm9i/rator %all p>tn] 
) an organization to e/abli% a ,vet]an  
,bus9ess ,outrea* ,c5t] 9 ! ,commonweal?
 ( ,pu]to ,rico to provide              
entrepr5eurial developm5t s]vices to    
small bus9ess conc]ns own$ & controll$  
by s]vice-disabl$ vet]ans & small       
bus9ess conc]ns own$ & controll$ by     
vet]ans locat$ 9 ! ,commonweal? ( ,pu]to
 ,rico4 ,if ! ,adm9i/rator _c p>tn] ) an
 organization1 ! ,adm9i/rator %all use  
am\nts appropriat$ to c>ry out ?is      
subsection to provide su* s]vices to    
vet]ans :o own or are consid]+ />t+ a   
,pu]to ,rico bus9ess4  4  7b7           
,prospective repeal ,subsection 7a7 %all
 be repeal$1 & ! provisions ( law am5d$ 
by su* subsection %all be re/or$ z if   
su* subsection _h n be5 enact$1 on !    

,ov]sight ,bo>d t]m9ation date4  #cjb4  
,,fa/ grant program = ,pu]to ,rico  7a7 
,9 g5]al ,section #cd ( ! ,small        
,bus9ess ,act 7#ae ,u4,s4,c4 #feg;d7 is 
am5d$ by add+ at ! end ! foll[+3  7j7   
,,fa/ grant program = ,pu]to ,rico  7#a7
 ,e/abli%m5t ,! ,adm9i/rator %all       
e/abli% a program t %all be "p ( ! ,,fa/
 program to make aw>ds to1 or ent] into 
coop]ative agreem5ts )1 a ,pu]to ,rico  
bus9ess4  7#b7 ,te*nical assi/ance ,if  
no applicant is select$ to receive      
assi/ance "u ?is subsection1 !          
,adm9i/rator %all use am\nts appropriat$
 to c>ry out ?is subsection to provide  
bus9ess advice & c\nsel+ to a ,pu]to    
,rico bus9ess4  7#c7 ,waiv] ( mat*+     
requirem5ts ,! ,adm9i/rator may1 ^u     
application1 waive ! mat*+ requirem5ts  
"u subsection 7e77#b7 = an applicant t  
receives an aw>d or has 9 effect a      
coop]ative agreem5t "u ?is subsection4  
7#d7 ,fund+ ,!re is au?oriz$ to be      
appropriat$ #ajj1jjj = fiscal ye> #bjbj1
 & ea* fiscal ye> !reaft]1 to c>ry out  

?is subsection4  4  7b7 ,prospective    
repeal ,subsection 7a7 %all be repeal$1 
& ! provisions ( law am5d$ by su*       
subsection %all be re/or$ z if su*      
subsection _h n be5 enact$1 on !        
,ov]sight ,bo>d t]m9ation date4