,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #gfbh  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,april #bh1 #bjbb,mr4 
,luetkemey] 7= himself1 ,mr4 ,williams (
 ,texas1 ,mr4 ,/aub]1 ,mr4 ,meus]1 ,ms4 
,t5ney1 ,mr4 ,g>b>9o1 ,mrs4 ,kim (      
,cali=nia1 ,ms4 ,van ,duyne1 ,mr4       
,donalds1 ,ms4 ,salaz>1 & ,mr4          
,fitzg]ald7 introduc$ ! foll[+ bill2 :i*
 0 ref]r$ to ! ,committee on ,small     
,bus9ess  ,a ,,bill  ,to increase       
ov]sight ( & improve programs ( ! ,small
 ,bus9ess ,adm9i/ration1 & = o!r        
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,improve ,managem5t1       
,programs1 ,res\rces1 & ,ov]sight =     
,vital ,entrepr5eurs ! ,,sba ,act or !  
,,improve ! ,,sba ,act4  #b4 ,table (   
cont5ts ,! table ( cont5ts = ?is ,act is
 z foll[s3 ,sec4 #a4 ,%ort title4,sec4  
#b4 ,table ( cont5ts4,sec4 #c4          
,def9itions4,title ,i--,small ,bus9ess  
,adm9i/ration ,oversight,sec4 #aja4     
,small ,bus9ess ,adm9i/ration mission   
/atem5t4,sec4 #ajb4 ,requirem5t = !     

,adm9i/rator ( ! ,small ,bus9ess        
,adm9i/ration to appe> be=e ,congress & 
report on c]ta9 recomm5dations4,title   
,,ii--,small ,bus9ess ,adm9i/ration     
,capital ,programs,sec4 #bja4           
,prohibition on direct l5d+4,sec4 #bjb4 
,improvem5ts to disa/] l5d+4,sec4 #bjc4 
,disa/] loan program ov]sight4,sec4     
#bjd4 ,high risk loan review4,sec4 #bje4
 ,capital ,access ,program              
ov]sight4,title ,,iii--,small ,bus9ess  
,adm9i/ration ,c\nsel+ ,programs,sec4   
#cja4 ,appe>ances be=e ,congress4,sec4  
#cjb4 ,assi/ance = cov]$ conc]ns 9 c]ta9
 programs ( ! ,small ,bus9ess           
,adm9i/ration4,sec4 #cjc4 ,inclusion (  
c>e] & te*nical education 9 c]ta9       
programs ( ! ,small ,bus9ess            
,adm9i/ration4,sec4 #cjd4 ,assi/ance =  
small bus9esses affect$ by supply *a9   
disruptions1 labor %ortages1 &          
cyb]attacks4,sec4 #cje4 ,requirem5ts on 
use ( assi/ance by res\rce p>tn]s4,title
 ,,iv--,small ,bus9ess ,adm9i/ration    
,contract+ ,programs,sec4 #dja4 ,annual 

te/imony4,sec4 #djb4 ,improvem5ts to    
accuracy 9 ,f$]al small bus9ess         
sp5d+4,sec4 #djc4 ,/r5g!n+              
subcontract+4,title ,v--,small ,bus9ess 
,adm9i/ration ,duplication,sec4 #eja4   
,elim9ate programs duplicat+ private    
sector4,sec4 #ejb4 ,entrepr5eurial      
developm5t s]vice limits4,sec4 #ejc4    
,limitation on new pilot programs until 
,inspector ,g5]al recomm5dations        
clos$4,title ,,vi--,prohibition (       
,ineligible ,use ( ,funds,sec4 #fja4    
,prohibition on c]ta9 small bus9ess     
conc]ns4,sec4 #fjb4 ,use (              
proce$s4,title ,,vii--,ensure ,all      
,small ,bus9esses are ,served,sec4 #gja4
 ,small bus9ess conc]n equal            
treatm5t4,title ,,viii--,inspector      
,g5]al ( ! ,small ,bus9ess              
,administration,sec4 #hja4 ,cl>ification
 ( ! responsibilities ( ! ,adm9i/rator )
 respect to ! ,inspector ,g5]al ( !     
,small ,bus9ess ,adm9i/ration4,title    
,,ix--,(fice ( ,advocacy,sec4 #ija4     
,te/imony ( ! ,*ief ,c\nsel =           

,advocacy4,sec4 #ijb4 ,qu>t]ly reports  
by ! ,*ief ,c\nsel = ,advocacy4,sec4    
#ijc4 ,am5dm5t to prim>y functions &    
duties ( ! ,(fice ( ,advocacy ( ! ,small
 ,bus9ess ,adm9i/ration4,title          
,x--,small ,bus9ess ,adm9i/ration z a   
,repres5tative ( ,small ,businesses,sec4
 #ajja4 ,economic headw9ds report4  #c4 
,def9itions ,9 ?is ,act3 7#a7           
,adm9i/ration ,! t]m ,adm9i/ration means
 ! ,small ,bus9ess ,adm9i/ration4  7#b7 
,adm9i/rator ,! t]m ,adm9i/rator means !
 ,adm9i/rator ( ! ,small ,bus9ess       
,adm9i/ration4  7#c7 ,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 ,small ,bus9ess ,adm9i/ration
 ,ov]sight  #aja4 ,small ,bus9ess       
,adm9i/ration mission /atem5t  7a7 ,9   
g5]al ,section #b ( ! ,small ,bus9ess   
,act 7#ae ,u4,s4,c4 #fca7 is am5d$--    
7#a7 by am5d+ subsection 7c7 to read z  
foll[s3  7c7 ,aid = agriculturally      
relat$ indu/ries2 f9ancial assi/ance ,x 

is ! decl>$ policy ( ! ,congress t--    
7#a7 ! ,f$]al ,gov]nm5t1 ?r\gh ! ,small 
,bus9ess ,adm9i/ration1 %\ld-- 7,a7 help
 ,am]icans />t1 build1 & gr[ bus9esses2 
7,b7 advocate = small bus9ess conc]ns )9
 ! ,f$]al ,gov]nm5t2  7,c7 s]ve ,am]ican
 small bus9ess conc]ns 9 a prompt1      
effective1 effici5t1 & prud5t mann]2 &  
7,d7 aid1 c\nsel1 assi/1 & protect !    
int]e/s ( small bus9ess conc]ns engag$ 9
 ! production ( food & fib]1 ran*+1 &   
rais+ ( live/ock1 aquaculture1 & all o!r
 f>m+ & agricultural relat$ indu/ries2 &
  7#b7 ! f9ancial assi/ance programs    
au?oriz$ by ?is *apt] are also to be us$
 to assi/ su* conc]ns4  2 &  7#b7 by    
add+ at ! end ! foll[+ new subsection3  
7k7 ,mission /atem5t ,! ,adm9i/rator    
%all e/abli% a mission /atem5t bas$ on !
 requirem5ts ( ?is section & publi% su* 
mission /atem5t prom95tly on ! ma9      
webpage ( ! ,adm9i/ration4  4  7b7      
,e/abli%m5t ( p]=mance & outrea* metrics
 & t>gets ,section #d ( ! ,small        
,bus9ess ,act 7#ae ,u4,s4,c4 #fcc7 is   

am5d$ by add+ at ! end ! foll[+ new     
subsection3  7i7 ,effectiv5ess (        
programs ( ! ,adm9i/ration  7#a7 ,9     
g5]al ,except z provid$ 9 p>agraph 7#d71
 n lat] ?an #abj days aft] ! date ( !   
enactm5t ( ?is subsection1 !            
,adm9i/rator %all-- 7,a7 e/abli% a      
basel9e measurem5t ( ! effectiv5ess ( ! 
programs ( ! ,adm9i/ration2 &  7,b7     
develop metrics & t>gets to track1 ov]  
"t1 ! effectiv5ess ( su* programs4  7#b7
 ,subsequ5t programs ,n lat] ?an ! date 
on :i* a program ( ! ,adm9i/ration is   
implem5t$1 ! ,adm9i/rator %all-- 7,a7   
e/abli% a basel9e measurem5t ( !        
effectiv5ess ( su* program2 &  7,b7     
develop metrics & t>gets to track1 ov]  
"t1 ! effectiv5ess ( su* program4  7#c7 
,applicability ,except z provid$ 9      
p>agraph 7#d71 n lat] ?an #fj days aft] 
! ,adm9i/rator e/abli%es ! measurem5t & 
develops ! metrics & t>gets describ$ 9  
p>agraph 7#a7 or 7#b71 ! ,adm9i/rator   
%all apply ! su* measurem5t1 metrics1 & 
t>gets to ! programs ( ! ,adm9i/ration4 

7#d7 ,em]g5cy measurem5ts  7,a7 ,initial
 measurem5ts ,9 ! ev5t ( an em]g5cy dur+
 ! #abj-;day p]iod beg9n+ on ! date ( ! 
enactm5t ( ?is subsection1 !            
,adm9i/rator %all develop1 & apply !    
measurem5t1 metrics1 & t>gets describ$ 9
 p>agraph 7#a7 to programs ( !          
,adm9i/ration implem5t$ prior to ! date 
( ! enactm5t ( ?is subsection-- 7i7 n   
lat] ?an #cj days aft] ! date ( !       
enactm5t ( ?is subsection1 if su*       
em]g5cy began prior to ! date ( !       
enactm5t ( ?is subsection2  7ii7 n lat] 
?an ! e>li] ( #abj days aft] ! enactm5t 
( ?is subsection or #cj days aft] !     
beg9n+ ( su* em]g5cy1 if su* em]g5cy    
began aft] ! date ( ! enactm5t ( ?is    
subsection4  7,b7 ,subsequ5t programs   
,dur+ an em]g5cy1 ! ,adm9i/rator %all   
apply ! measurem5t1 metrics1 & t>gets   
describ$ 9 p>agraph 7#b7 to any program 
implem5t$ 9 response to ! em]g5cy1 z    
det]m9$ by ! ,adm9i/rator n lat] ?an #cj
 days aft] ! date on :i* su* program is 
implem5t$4  7,c7 ,em]g5cy def9$ ,9 ?is  

p>agraph1 ! t]m em]g5cy means-- 7i7 a   
major disa/]1 z det]m9$ by ! ,presid5t  
"u ! ,rob]t ,t4 ,/af=d ,disa/] ,relief &
 ,em]g5cy ,assi/ance ,act 7#db ,u4,s4,c4
 #eaba et seq472  7ii7 a natural disa/]1
 z det]m9$ by ! ,secret>y ( ,agriculture
 pursuant to section #cba ( !           
,consolidat$ ,f>m & ,rural ,developm5t  
,act 7#g ,u4,s4,c4 #aifa71 9 :i* case1  
subp>agraph 7,a7 %all apply only )      
respect to programs ( ! ,adm9i/ration   
assi/+ f>m-relat$ & nonf>m-relat$ small 
bus9ess conc]ns2  7iii7 a disa/]1 z     
det]m9$ by ! ,adm9i/rator ( ! ,small    
,bus9ess ,adm9i/ration2 &  7iv7 an      
em]g5cy involv+ ,f$]al prim>y           
responsibility det]m9$ to exi/ by !     
,presid5t "u section #eja7;b7 ( ! ,rob]t
 ,t4 ,/af=d ,disa/] ,relief & ,em]g5cy  
,assi/ance ,act 7#db ,u4,s4,c4          
#eaia7;b774  4  7c7 ,additional annual  
report requirem5ts ,section #aj ( !     
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fci7 is am5d$ by ins]t+ aft] subsection
 7a7 ! foll[+ new subsection3  7b7      

,additional report requirem5ts ,!       
,adm9i/rator %all include 9 ! report    
requir$ "u subsection 7a7 in=mation on  
ea* ( ! pr9cipal activities ( !         
,adm9i/ration 7includ+ l5d+1 procurem5t1
 & entrepr5eurial developm5t programs7 &
 ! /aff 7includ+ contractors7 assign$ to
 c>ry out ea* su* activity4  4  #ajb4   
,requirem5t = ! ,adm9i/rator ( ! ,small 
,bus9ess ,adm9i/ration to appe> be=e    
,congress & report on c]ta9             
recomm5dations  7a7 ,9 g5]al ,section   
#aj ( ! ,small ,bus9ess ,act 7#ae       
,u4,s4,c4 #fci7 is am5d$ by add+ at !   
end ! foll[+ new subsection3  7i7       
,appe>ances be=e ,congress ,n lat] ?an  
#cj days aft] ! date on :i* ! ,presid5t 
submits ! budget requir$ "u section     
#aaje7;a7 ( title #ca1 ,unit$ ,/ates    
,code1 to ,congress1 ! ,adm9i/rator %all
 appe> be=e ! ,committee on ,small      
,bus9ess ( ! ,h\se ( ,repres5tatives & !
 ,committee on ,small ,bus9ess &        
,entrepr5eur%ip ( ! ,s5ate to provide   
in=mation on ! activities ( !           

,adm9i/ration z describ$ 9 ! budget4  4 
7b7 ,report on recomm5dations ,section  
#aj7;e7 ( ! ,small ,bus9ess ,act 7#ae   
,u4,s4,c4 #fci7 is am5d$-- 7#a7 by      
ins]t+ 7#a7 be=e ,! ,adm9i/ration2 &    
7#b7 by add+ at ! end ! foll[+ new      
p>agraph3  7#b7 ,report on              
recomm5dations ,beg9n+ n lat] ?an #ij   
days aft] ! date ( ! enactm5t ( ?is     
p>agraph1 & n lat] ?an #ij days aft]    
,octob] #a ( ea* subsequ5t ye>1 !       
,adm9i/rator %all submit to ! ,committee
 on ,small ,bus9ess ( ! ,h\se (         
,repres5tatives & ! ,committee on ,small
 ,bus9ess & ,entrepr5eur%ip ( ! ,s5ate a
 report on any recomm5dations made by ! 
,inspector ,g5]al or ! ,comptroll]      
,g5]al ( ! ,unit$ ,/ates t !            
,adm9i/rator did n fully implem5t dur+ !
 fiscal ye> cov]$ by ! report4  4  ,,ii 
,small ,bus9ess ,adm9i/ration ,capital  
,programs  #bja4 ,prohibition on direct 
l5d+  7a7 ,9 g5]al ,not)/&+ any         
provision ( subsection 7a7 ( section #g 
( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 

#fcf7;a771 ! ,adm9i/rator may n-- 7#a7  
directly make a loan pursuant to su*    
subsection2 or  7#b7 ent] into an       
agreem5t to p>ticipate 9 a loan on an   
imm$iate basis "u su* subsection4  7b7  
,exi/+ loans  7#a7 ,9 g5]al ,!          
,adm9i/rator %all s]vice a cov]$ exi/+  
loan made or gu>ante$ "u section #g7;a7 
( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 
#fcf7;b77 if su* loan 0 made be=e ! date
 ( ! enactm5t ( ?is ,act4  7#b7 ,cov]$  
exi/+ loan def9$ ,9 ?is subsection1 !   
t]m cov]$ exi/+ loan means a direct loan
 or a loan ) respect to :i* !           
,adm9i/rator ent]$ into an agreem5t to  
p>ticipate on an imm$iate basis4  #bjb4 
,improvem5ts to disa/] l5d+  7a7 ,9     
g5]al ,section #g7;b7 ( ! ,small        
,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b771 
z am5d$ by ?is ,act1 is fur!r am5d$--   
7#a7 by /rik+ p>agraphs 7#f71 7#g71     
7#aj71 7#aa71 & 7#ad72  7#b7 by         
r$esignat+ p>agraphs 7#h71 7#i71 7#ab71 
7#ac71 & 7#ae7 z p>agraphs 7#f71 7#g71  
7#h71 7#i7 & 7#aj71 respectively2  7#c7 

by r$esignat+ p>agraph 7#af71 z add$ by 
section #bjc7;b71 z p>agraph 7#aa72     
7#d7 by r$esignat+ p>agraph 7#ag71 z    
add$ by section #bje7;b71 z p>agraph    
7#ab72  7#e7 9 p>agraph 7#a7-- 7,a7 9   
subp>agraph 7,a7-- 7i7 by /rik+ 7ei!r   
directly or2  7ii7 by /rik+ an imm$iate 
or & ins]t+ a2  7iii7 by /rik+ basis7 z 
! ,adm9i/ration & ins]t+ basis z ! bank 
or o!r l5d+ in/itution2  7iv7 by /rik+  
,t ! ,adm9i/ration may & ins]t+ ,t !    
bank or o!r l5d+ in/itution1 9          
consultation ) ! borr[]1 may2  7v7 by   
/rik+ if x det]m9es & ins]t+ if ! bank  
or o!r l5d+ in/itution det]m9es2 &  7vi7
 9 clause 7iii71 by add+ & at ! end2    
7,b7 9 subp>agraph 7,b7-- 7i7 by /rik+  
unless ! ,adm9i/ration & ins]t+ unless !
 bank or o!r l5d+ in/itution2 &  7ii7 by
 /rik+ & at ! end2 &  7,c7 by /rik+     
subp>agraph 7,c72  7#f7 9 p>agraph      
7#b7-- 7,a7 by /rik+ 7ei!r directly or2 
7,b7 by /rik+ an imm$iate or & ins]t+ a2
  7,c7 by /rik+ basis7 z ! ,adm9i/ration
 & ins]t+ basis z ! bank or o!r l5d+    

in/itution2  7,d7 by /rik+ if !         
,adm9i/ration det]m9es & ins]t+ if !    
bank or o!r l5d+ in/itution det]m9es2   
7,e7 by ins]t+ ! ,adm9i/ration det]m9es 
aft] disa/] & if2 &  7,f7 9 ! matt]     
foll[+ subp>agraph 7,e7-- 7i7 by /rik+  
unless ! ,adm9i/ration f9ds & ins]t+    
unless ! bank or o!r l5d+ in/itution    
f9ds2 &  7ii7 by /rik+ & ! ,adm9i/rator 
%all & ins]t+ & ! banks or o!r l5d+     
in/itutions %all2  7#g7 9 p>agraph      
7#c7-- 7,a7 9 subp>agraph 7,b7-- 7i7 by 
/rik+ 7ei!r directly or2  7ii7 by /rik+ 
an imm$iate or & ins]t+ a2  7iii7 by    
/rik+ basis7 & ins]t+ basis2 &  7iv7 by 
/rik+ ! p]iod at ! end & ins]t+ 1 z     
det]m9$ by ! bank or o!r l5d+           
in/itution42  7,b7 9 subp>agraph 7,c7-- 
7i7 by /rik+ ,! ,adm9i/rator may &      
ins]t+ ,a bank or o!r l5d+ in/itution   
may2 &  7ii7 by /rik+ by ! ,adm9i/rator 
& ins]t+ by ! bank or o!r l5d+          
in/itution2  7,c7 9 subp>agraph 7,e7--  
7i7 by /rik+ 1 ei!r directly or & all t 
foll[s ?r\gh def]r$ basis12 &  7ii7 by  

/rik+ by ! ,adm9i/ration1 9 :i* case !  
,adm9i/ration & ins]t+ by ! bank or o!r 
l5d+ in/itution1 9 :i* case ! bank or   
o!r l5d+ in/itution2  7,d7 9 subp>agraph
 7,g7-- 7i7 9 clause 7i71 by /rik+ !    
,adm9i/rator & ins]t+ a bank or o!r l5d+
 in/itution2 &  7ii7 9 clause 7ii71 by  
/rik+ ,! ,adm9i/rator & ins]t+ ,! bank  
or o!r l5d+ in/itution2 &  7,e7 9       
subp>agraph 7,h71 by /rik+ ,!           
,adm9i/rator & ins]t+ ,a bank or o!r    
l5d+ in/itution2  7#h7 9 p>agraph 7#d7--
 7,a7 by /rik+ p>agraph 7#i7 ea* place x
 appe>s & ins]t+ p>agraph 7#g72 &  7,b7 
9 subp>agraph 7,b77ii71 by /rik+ !      
,adm9i/rator & ins]t+ a bank or o!r l5d+
 in/itution2  7#i7 9 p>agraph 7#e7--    
7,a7 by /rik+ p>agraph 7#i7 & ins]t+    
p>agraph 7#g72 &  7,b7 9 subp>agraph    
7,g71 by /rik+ ! ,adm9i/ration & ins]t+ 
banks or o!r l5d+ in/itutions2  7#aj7 9 
subp>agraph 7,b7 ( p>agraph 7#f71 z s   
r$esignat$1 by /rik+ ,! ,adm9i/rator    
may1 at ! discretion ( ! ,adm9i/rator & 
ins]t+ ,a bank or o!r l5d+ in/itution   

may1 at ! discretion ( ! bank or o!r    
l5d+ in/itution2  7#aa7 9 subp>agraph   
7,c7 ( p>agraph 7#g71 z s r$esignat$--  
7,a7 9 clause 7i7-- 7i7 by /rik+ 7ei!r  
directly or2  7ii7 by /rik+ an imm$iate 
or & ins]t+ a2  7iii7 by /rik+ basis7 & 
ins]t+ basis2 &  7iv7 by /rik+ z !      
,adm9i/rator det]m9es & ins]t+ z ! bank 
or o!r l5d+ in/itution det]m9es2 &  7,b7
 9 clause 7ii71 by /rik+ ! ,adm9i/rator 
%all ea* place x appe>s & ins]t+ ! banks
 or o!r l5d+ in/itutions %all2  7#ab7 9 
subp>agraph 7,a7 ( p>agraph 7#h71 z s   
r$esignat$-- 7,a7 by ins]t+ a *apt] (   
be=e ! ,s]vice ,corps ( ,retir$         
,executives2 &  7,b7 by /rik+ any       
propos$ consortium ( su* individuals or 
entities & ins]t+ ,vet]an ,bus9ess      
,outrea* ,c5t]s2  7#ac7 9 p>agraph 7#i71
 z s r$esignat$1 by /rik+ ,adm9i/rator  
ea* place x appe>s & ins]t+ bank or o!r 
l5d+ in/itution2  7#ad7 by ins]t+ aft]  
p>agraph 7#ab71 z s r$esignat$1 ! foll[+
 new p>agraphs3  7#ac7 ,l5d]s  7,a7     
,compliance ,if ! ,adm9i/rator det]m9es 

t a bank or o!r l5d+ in/itution kn[+ly  
fail$ to comply ) ! und]writ+ /&>ds =   
loans gu>ante$ "u ?is subsection or     
violat$ ! t]ms ( ! /&>d op]at+ proc$ure 
agreem5t betwe5 t bank or o!r l5d+      
in/itution & ! ,adm9i/ration1 !         
,adm9i/rator %all take "o or m ( !      
foll[+ actions3 7i7 ,make loans made by 
! bank or o!r l5d+ in/itution ineligible
 to receive a gu>antee f ! ,adm9i/ration
 "u ?is subsection4  7ii7 ,exclude !    
bank or o!r l5d+ in/itution f p>ticipat+
 9 ! ,pref]r$ ,l5d] ,program = a p]iod (
 n m ?an #e ye>s4  7,b7 ,fees  7i7 ,9   
g5]al ,! ,adm9i/rator may n collect a   
gu>antee fee "u ?is subsection4  7ii7   
,orig9ation fee ,) respect to a loan    
gu>ante$ "u ?is subsection1 !           
,adm9i/rator %all reimburse ! bank or   
o!r l5d+ in/itution mak+ su* loan-- 7,i7
 = a loan 9 am\nt t is less ?an or equal
 to #ej1jjj1 an am\nt equal to ! less]  
(-- 7aa7 #ej p]c5t ( ! balance ( !      
f9anc+ out/&+ at ! "t ( disbursem5t (   
su* loan2 or  7bb7 #b1ejj2  7,,ii7 = a  

loan 9 an am\nt t is great] ?an #ej1jjj 
& n great] ?an #cej1jjj1 an am\nt equal 
to five p]c5t ( ! f9anc+ out/&+ at ! "t 
( disbursem5t ( su* loan2 or  7,,iii7 = 
a loan 9 an am\nt t is great] ?an or    
equal to #cej1jjj1 an am\nt equal to    
?ree p]c5t ( ! f9anc+ out/&+ at ! "t (  
disbursem5t ( su* loan4  7,c7           
,docum5tation ,a bank or o!r l5d+       
in/itution may use its own loan         
docum5tation = a loan gu>ante$ by !     
,adm9i/rator "u ?is subsection4  7,d7   
,pur*ase ( loans ,! ,adm9i/rator may    
ent] into an agreem5t ) a bank or o!r   
l5d+ in/itution to pur*ase any loan     
gu>ante$ "u ?is subsection4  7,e7       
,second>y m>kets  7i7 ,9 g5]al ,!       
,adm9i/rator %all issue rules = !       
facilitation1 adm9i/ration1 & promotion 
( ! sale ( loans gu>ante$ "u ?is        
subsection 9 ! second>y m>ket 9 ! same  
mann] z loans made or gu>ante$ "u       
subsection 7a74  7ii7 ,treatm5t ,! rules
 issu$ "u clause 7i7 %all provide t     
p>agraphs 7#a77;,a77ii7 & 7#d77;,b77ii7 

( subsection 7a7 %all apply ) respect   
loans gu>ante$ "u ?is subsection 9 !    
same mann] z su* p>agraphs apply to     
loans made or gu>ante$ "u subsection    
7a74  7,f7 ,level ( p>ticipation 9      
gu>ante$ loans ,9 agreem5ts to          
p>ticipate 9 loans on a def]r$ basis "u 
?is subsection1 su* p>ticipation by !   
,adm9i/ration %all be equal to #ie p]c5t
 ( ! balance ( ! f9anc+ out/&+ at ! "t (
 disbursem5t ( ! loan4  7,g7 ,collat]al 
requirem5ts  7i7 ,9 g5]al ,loans        
gu>ante$ "u ?is subsection 9 an am\nt   
great] ?an #be1jjj %all be secur$ to !  
ext5t possible1 z det]m9$ by ! bank or  
o!r l5d+ in/itution4  7ii7 ,lack (      
collat]al ,a bank or l5d+ in/itution may
 n decl9e a loan bas$ on a lack (       
collat]al1 b su* bank or l5d+ in/itution
 may require real e/ate own$ by ! borr[]
 z collat]al4  7iii7 ,li5 on subject    
prop]ty ,a bank or l5d+ in/itution may  
also take a li5 on any resid5tial       
prop]ty ( ! borr[] ) respect to :i* !   
loan to be secur$ by su* li5 is made4   

7#ad7 ,bank or o!r l5d+ in/itution def9$
 ,9 ?is subsection1 ! t]ms bank or o!r  
l5d+ in/itution means a l5d] au?oriz$ by
 ! ,adm9i/ration to p>ticipate z a l5d] 
"u subsection 7a71 o!r ?an a small      
bus9ess l5d+ company or a non-,f$]ally  
regulat$ l5d] 7z su* t]ms are def9$ 9   
section #c7r774  2 &  7#ae7 9 ! flu%    
left matt] at ! end-- 7,a7 by /rik+ !   
,adm9i/rator may cons5t & ins]t+ ! bank 
or o!r l5d+ in/itution may cons5t2  7,b7
 by /rik+ ! ,adm9i/rator det]m9es &     
ins]t+ ! bank or o!r l5d+ in/itution    
det]m9es2 &  7,c7 by /rik+ ,9 agreem5ts 
to p>ticipate & all t foll[s ?r\gh to a 
disa/] loan "u p>agraph 7#a7 7#b7 ( ?is 
subsection44  7b7 ,private disa/] loans 
,section #g7;c7 ( ! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fcf7;c77 is repeal$4   
7c7 ,o!r requirem5ts ,section #g ( !    
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fcf7 is am5d$-- 7#a7 9 subsection 7d7--
 7,a7 9 p>agraph 7#a7-- 7i7 by ins]t+   
7except a loan "u subsection 7b7 aft] to
 ?is section2 &  7ii7 by add+ at ! end  

,! bank or o!r l5d+ in/itution t made a 
loan "u subsection 7b7 may fur!r ext5d !
 maturity ( or r5ew su* loan =          
additional p]iods n to exce$ t5 ye>s    
beyond ! p]iod /at$ !re91 if su*        
ext5sion or r5ewal w aid 9 ! ord]ly     
liquidation ( su* loan42  7,b7 9        
p>agraph 7#b71 by /rik+ p]son1 firm1 or 
corporation & ins]t+ bank or o!r l5d+   
in/itution2  7,c7 9 p>agraph 7#f7-- 7i7 
by /rik+ 1 ei!r directly or2  7ii7 by   
/rik+ on an imm$iate or def]r$          
7gu>ante$7 basis1 & ins]t+ a def]r$     
7gu>ante$7 basis2  7iii7 by /rik+ 9 :i* 
case ! ,adm9i/ration & ins]t+ 9 :i* case
 ! bank or o!r l5d+ in/itution t made   
su* loan2  7iv7 by /rik+ ,t !           
,adm9i/ration %all n require & ins]t+ ,t
 ! banks or o!r l5d+ in/itutions %all n 
require2  7v7 by /rik+ 7or su* high]    
am\nt z ! ,adm9i/rator det]m9es         
appropriate 9 ! ev5t ( a disa/]72  7vi7 
by /rik+ ,t ! ,adm9i/rator1 9 obta9+ &  
ins]t+ ,t ! bank or o!r l5d+ in/itution1
 9 obta9+2 &  7vii7 by /rik+ if !       

,adm9i/rator det]m9es & ins]t+ if ! bank
 or o!r l5d+ in/itution det]m9es2 &     
7,d7 by /rik+ p>agraph 7#h72  7#b7 9    
subsection 7f77#a71 by /rik+ !          
,adm9i/rator & ins]t+ ! bank or o!r l5d+
 in/itution mak+ su* a loan2 &  7#c7 9  
subsection 7g71 by /rik+ ! ,adm9i/rator 
%all & ins]t+ nei!r ! ,adm9i/rator nor a
 bank or o!r l5d+ in/itution may4  7d7  
,con=m+ am5dm5ts ,! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fca7 is am5d$-- 7#a7 9 
section #d7;c77#b71 by /rik+ 1          
7#g7;b77#g71 #g7;b77#h72 &  7#b7 9      
section #dj7;b71 by /rik+ #g7;b77#i7 &  
ins]t+ #g7;b77#g74  7e7 ,repeal (       
,imm$iate ,disa/] ,assi/ance program    
,section #db ( ! ,small ,bus9ess ,act   
7#ae ,u4,s4,c4 #fegn7 is repeal$4  7f7  
,rules ,n lat] ?an #abj days aft] ! date
 ( ! enactm5t ( ?is ,act1 ! ,adm9i/rator
 %all issue rules = mak+ loans "u       
section #g7;b7 ( ! ,small ,bus9ess ,act 
7#ae ,u4,s4,c4 #fcf7;b771 z am5d$ by ?is
 section4  7g7 ,effective date  7#a7 ,9 
g5]al ,! am5dm5ts made by subsections   

7a71 7b71 7c71 & 7d7 %all take effect on
 ! date t is ?ree ye>s aft] ! date ( !  
enactm5t ( ?is ,act4  7#b7 ,int]im loan 
au?ority ,dur+ ! p]iod beg9n+ on ! date 
! ,adm9i/rator issues ! rules requir$ "u
 subsection 7f7 & end+ ?ree ye>s aft] ! 
date ( ! enactm5t ( ?is ,act1 loans may 
be made "u section #g7;b7 ( ! ,small    
,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;b77 z
 if ! am5dm5ts made by subsections 7a71 
7b71 7c71 & 7d7 7 9 effect4  #bjc4      
,disa/] loan program ov]sight  7a7      
,adm9i/ration ov]sight  7#a7 ,9 g5]al ,)
 respect to loans made "u section       
#g7;b77#b7 ( ! ,small ,bus9ess ,act 7#ae
 ,u4,s4,c4 #fcf7;b77#b771 o!r ?an loans 
made pursuant to section #bjb7;g77#b7 ( 
?is ,act1 ! ,adm9i/rator %all take su*  
action z necess>y to-- 7,a7 e/abli% or  
/r5g!n controls to ensure t loan proce$s
 are deposit$ 9 a legitimate acc\nt ( a 
borr[]2  7,b7 ensure t any modification 
( a loan application aft] l5d] approval 
( su* loan is review$ by an employee ( !
 ,adm9i/ration2  7,c7 e/abli% or /r5g!n 

controls to-- 7i7 ensure t multiple     
loans are provid$ only to eligible      
borr[]s2 &  7ii7 prev5t ! errone\s      
duplication ( loans1 includ+ by e/abli%+
 a sy/em to v]ify ! id5tity ( a borr[]  
us+ photo id5tification2  7,d7 v]ify !  
applicant is a legitimate borr[] ) !    
appropriate ,/ate or local ag5cy ?r\gh  
tax returns1 docum5tation relat+ to     
incorporation or /atus z a nonpr(it     
organization1 or ano!r me?od2  7,e7     
ensure t two employees ( ! ,adm9i/ration
 approve ea* application = su* loans &  
elim9ate any processes ( ! ,adm9i/ration
 t all[ = simultane\s approval (        
multiple loan applications2  7,f7       
require an individual employee ( !      
,adm9i/ration to contact applicants :o  
submit multiple loan applications f !   
same ,int]net ,protocol addresses1 email
 addresses1 or physical addresses1 or ) 
! same bank acc\nt numb]s1 to v]ify     
eligibility ( su* applicants2  7,g7     
ensure t su* borr[] is n includ$ on ! ,d
 ,n ,pay ,li/ ( ! ,dep>tm5t ( !         

,treasury 7z describ$ "u section #cced (
 title #ca1 ,unit$ ,/ates ,code72  7,h7 
prev5t duplicate loan applications ) !  
same employ] id5tification numb] or     
social security numb]2 &  7,i7 e/abli% a
 sy/em to prev5t disbursem5t ( su* loans
 to applicants t submit m ?an "o loan   
application ) ! same employ]            
id5tification numb]1 social security    
numb]1 email addresses1 physical        
addresses1 or bank acc\nt numb]1 or f ! 
same ,int]net ,protocol address4  7#b7  
,sunset ,?is subsection %all t]m9ate on 
! date t is ?ree ye>s aft] ! date ( !   
enactm5t ( ?is ,act4  7b7 ,audit plan   
,section #g7;b7 ( ! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fcf7;b77 is am5d$ by   
ins]t+ aft] p>agraph 7#ae7 ! foll[+ new 
p>agraph3  7#af7 ,audit plan  7,a7 ,9   
g5]al ,n lat] ?an #ij days aft] ! date (
 ! enactm5t ( ?is p>agraph1 !           
,adm9i/rator %all submit to ! ,committee
 on ,small ,bus9ess & ,entrepr5eur%ip ( 
! ,s5ate & ! ,committee on ,small       
,bus9ess ( ! ,h\se ( ,repres5tatives a  

plan = audit+ cov]$ loans1 includ+-- 7i7
 ! policies & proc$ures t ! ,adm9i/rator
 %all use to conduct audits ( su* cov]$ 
loans2 &  7ii7 ! metrics t !            
,adm9i/rator %all use to det]m9e :i* su*
 cov]$ loans to audit4  7,b7 ,reports ,n
 lat] ?an #cj days aft] ! date on :i* ! 
,adm9i/rator submits ! plan requir$ by  
subp>agraph 7,a71 & ea* mon? !reaft]1 ! 
,adm9i/rator %all submit to ! ,committee
 on ,small ,bus9ess & ,entrepr5eur%ip ( 
! ,s5ate & ! ,committee on ,small       
,bus9ess ( ! ,h\se ( ,repres5tatives a  
report on ! audit activities ( !        
,adm9i/ration ) respect to cov]$ loans  
"u ?is subsection1 includ+-- 7i7 ! numb]
 ( active reviews & audits2  7ii7 !     
results ( complet$ reviews & audits2 &  
7iii7 any sub/antial *anges to ! plan   
submitt$ "u subp>agraph 7,a74  7,c7     
,cov]$ loan def9$ ,9 ?is p>agraph1 ! t]m
 cov]$ loan means a loan made-- 7i7 "u  
?is subsection2 &  7ii7 7,i7 pursuant to
 section #bjb7;g77#b7 ( ! ,,improve !   
,,sba ,act2 or  7,,ii7 n e>li] ?an !    

date t is ?ree ye>s aft] ! date ( !     
enactm5t ( ?is p>agraph4  4  #bjd4 ,high
 risk loan review ,section #dg7;c77#b7 (
 ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4  
#fegt7c77#b77 is am5d$-- 7#a7 by /rik+  
%all be responsible & ins]t+ ! foll[+3  
%all-- 7,a7 be responsible  2  7#b7 by  
/rik+ p>ticipants4 & ins]t+ p>ticipants2
 &2  7#c7 by add+ at ! end ! foll[+ new 
subp>agraph3  7,b7 e/abli% a sep>ate    
process = ! ov]sight ( su* l5d]s &      
p>ticipants ) respect to a loan made 9  
an am\nt great] ?an or equal to #ejj1jjj
 = :i* ! borr[] ( su* loan default$ )9 !
 fir/ #ah mon?s aft] ! initial          
disbursem5t ( su* loan4  4  #bje4       
,capital ,access ,program ov]sight  7a7 
,gu>ante$ l5d+ programs ,section #dg ( !
 ,small ,bus9ess ,act 7#ae ,u4,s4,c4    
#fegt7 is am5d$ by add+ at ! end !      
foll[+ new subsection3  7j7             
,congressional te/imony ,n lat] ?an !   
date t is #abj days aft] ! date ( !     
enactm5t ( ?is subsection1 & n less     
frequ5tly ?an annually !reaft]1 !       

,associate ,adm9i/rator ( ! ,(fice (    
,capital ,access ( ! ,adm9i/ration & !  
,director %all te/ify be=e ! ,committee 
on ,small ,bus9ess & ,entrepr5eur%ip ( !
 ,s5ate & ! ,committee on ,small        
,bus9ess ( ! ,h\se ( ,repres5tatives    
reg>d+ ! /ate ( l5d+ "u sections #g7;a7 
& #g7m7 ( ?is ,act & "u section #ejc ( !
 ,small ,bus9ess ,inve/m5t ,act ( #aieh1
 includ+ programs "u :i* loans are made 
pursuant to su* sections4  4  7b7       
,disa/] l5d+ programs ,section #g7;b7 ( 
! ,small ,bus9ess ,act 7#ae ,u4,s4,c4   
#fcf7;b771 z am5d$ by section #bjc7;b71 
is fur!r am5d$ by ins]t+ aft] p>agraph  
7#af7 ! foll[+ new p>agraph3  7#ag7     
,congressional te/imony ,n lat] ?an !   
date t is #abj days aft] ! date ( !     
enactm5t ( ?is p>agraph1 & n less       
frequ5tly ?an annually !reaft]1 !       
,associate ,adm9i/rator ( ! ,(fice (    
,disa/] ,assi/ance %all te/ify be=e !   
,committee on ,small ,bus9ess &         
,entrepr5eur%ip ( ! ,s5ate & !          
,committee on ,small ,bus9ess ( ! ,h\se 

( ,repres5tatives reg>d+ ! /ate ( l5d+  
"u ?is subsection1 includ+ programs "u  
:i* loans are made pursuant to ?is      
subsection4  4  7c7 ,small bus9ess      
inve/m5t companies ,section #cjh ( !    
,small ,bus9ess ,inve/m5t ,act ( #aieh  
7#ae ,u4,s4,c4 #fhg7 is am5d$ by add+ at
 ! end ! foll[+ new subsection3  7j7    
,congressional te/imony ,n lat] ?an !   
date t is #abj days aft] ! date ( !     
enactm5t ( ?is subsection1 & n less     
frequ5tly ?an annually !reaft]1 !       
,associate ,adm9i/rator ( ! ,(fice (    
,inve/m5t & ,innovation %all te/ify be=e
 ! ,committee on ,small ,bus9ess &      
,entrepr5eur%ip ( ! ,s5ate & !          
,committee on ,small ,bus9ess ( ! ,h\se 
( ,repres5tatives reg>d+ ! /ate ( small 
bus9ess inve/m5t companies & ! op]ations
 ( ! ,adm9i/ration "u ?is ,act4  4      
,,iii ,small ,bus9ess ,adm9i/ration     
,c\nsel+ ,programs  #cja4 ,appe>ances   
be=e ,congress  7a7 ,res\rce p>tn] def9$
 ,section #c ( ! ,small ,bus9ess ,act   
7#ae ,u4,s4,c4 #fcb7 is am5d$ by add+ at

 ! end ! foll[+ new subsection3  7gg7   
,res\rce p>tn] ,! t]m res\rce p>tn]     
means-- 7#a7 a small bus9ess developm5t 
c5t]2  7#b7 a wom5's bus9ess c5t] 7z    
describ$ 9 section #bi72  7#c7 a ,vet]an
 ,bus9ess ,outrea* ,c5t] 7z describ$ "u 
section #cb72 or  7#d7 a *apt] ( !      
,s]vice ,corps ( ,retir$ ,executives 7z 
def9$ 9 section #h7;b77#a77;,b774  4    
7b7 ,metrics ,n lat] ?an #fj days aft] !
 date ( ! enactm5t ( ?is ,act1 !        
,adm9i/rator %all e/abli% metrics to    
measure ! effectiv5ess ( ! outrea* ( ea*
 res\rce p>tn] 7z def9$ 9 subsection    
7gg7 ( section #c ( ! ,small ,bus9ess   
,act 7#ae ,u4,s4,c4 #fcb71 z add$ by    
subsection 7a774  7c7 ,appe>ances be=e  
,congress ,section #aj ( ! ,small       
,bus9ess ,act 7#ae ,u4,s4,c4 #fci71 z   
am5d$ by section #ajb7;a71 is fur!r     
am5d$ by add+ at ! end ! foll[+ new     
subsection3  7j7 ,appe>ances be=e       
,congress ,! ,adm9i/rator or !          
,associate ,adm9i/rator = ! ,(fice (    
,entrepr5eurial ,developm5t %all        

annually appe> be=e ! ,committee on     
,small ,bus9ess & ,entrepr5eur%ip ( !   
,s5ate & ! ,committee on ,small ,bus9ess
 ( ! ,h\se ( ,repres5tatives to provide 
in=mation on ! effectiv5ess ( programs (
 res\rce p>tn]s1 includ+ a description  
(1 ) respect to ! ye> prec$+ ! date (   
su* appe>ance-- 7#a7 ! numb] ( small    
bus9ess conc]ns t p>ticipate 9 ea* su*  
program2  7#b7 ! numb] ( small bus9ess  
conc]ns t b5efit f ea* su* program2     
7#c7 ! numb] ( new small bus9ess conc]ns
 creat$ ?r\gh ! assi/ance ( ea* su*     
program2  7#d7 ! numb] ( jobs creat$    
?r\gh ! assi/ance ( ea* su* program2    
7#e7 ! numb] ( tra9+s ea* su* res\rce   
p>tn] ho/$ & ! numb] ( att5dees at ea*  
su* tra9+2 &  7#f7 in=mation on outrea* 
to graduates f c>e] & te*nical education
 programs or programs ( /udy1 small     
bus9ess conc]ns 9 rural areas 7z su* t]m
 is def9$ 9 subsection 7m77#aa771 small 
bus9ess conc]ns locat$ 9 qualifi$       
opportunity zones 7z def9$ 9 section    
#adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( 

#aihf71 & small bus9ess conc]ns ) n m   
?an #bj full-"t employees4  4  #cjb4    
,assi/ance = cov]$ conc]ns 9 c]ta9      
programs ( ! ,small ,bus9ess            
,adm9i/ration  7a7 ,small bus9ess       
developm5t c5t]s ,section               
#ba7;c77#c77,n7 ( ! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fdh7;c77#c77,n77 is    
am5d$-- 7#a7 9 ! matt] prec$+ clause    
7i71 by ins]t+ 1 small bus9ess conc]ns  
locat$ 9 qualifi$ opportunity zones 7z  
def9$ 9 section #adjj,z-#a ( ! ,int]nal 
,rev5ue ,code ( #aihf71 & small bus9ess 
conc]ns ) n m ?an #bj full-"t employees 
79 ?is subp>agraph ref]r$ to z cov]$    
conc]ns7 aft] rural small bus9esses2    
7#b7 9 clause 7i71 by /rik+ m>ket-- &   
ins]t+ m>ket22  7#c7 9 clause 7ii71 by  
/rik+ rural small bus9esses & ins]t+    
cov]$ conc]ns2 &  7#d7 9 clause 7iii71  
by /rik+ rural small bus9ess conc]ns &  
ins]t+ cov]$ conc]ns4  7b7 ,wom5's      
bus9ess c5t]s ,section #bi7;b7 ( !      
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fef7;b77 is am5d$-- 7#a7 9 p>agraph    

7#b71 by /rik+ & at ! end2  7#b7 9      
p>agraph 7#c71 by /rik+ ! p]iod at ! end
 & ins]t+ a semicolon2 &  7#c7 by add+  
at ! end ! foll[+ new p>agraph3  7#d7   
assi/ance = rural small bus9esses1 small
 bus9ess conc]ns locat$ 9 qualifi$      
opportunity zones 7z def9$ 9 section    
#adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( 
#aihf71 & small bus9ess conc]ns ) n m   
?an #bj full-"t employees2  4  #cjc4    
,inclusion ( c>e] & te*nical education 9
 c]ta9 programs ( ! ,small ,bus9ess     
,adm9i/ration  7a7 ,c>e] & te*nical     
education def9$ ,section #c ( ! ,small  
,bus9ess ,act 7#ae ,u4,s4,c4 #fcb71 z   
am5d$ by section #cja1 is fur!r am5d$ by
 add+ at ! end ! foll[+ new subsection3 
7hh7 ,c>e] & te*nical education ,! t]m  
c>e] & te*nical education has ! mean+   
giv5 ! t]m 9 section #c ( ! ,c>l ,d4    
,p]k9s ,c>e] & ,te*nical ,education ,act
 ( #bjjf 7#bj ,u4,s4,c4 #bcjb74  4  7b7 
,small bus9ess developm5t c5t]s ,section
 #ba7;c77#c7 ( ! ,small ,bus9ess ,act   
7#ae ,u4,s4,c4 #fdh7;c77#c77 is am5d$-- 

7#a7 9 subp>agraph 7,t71 by /rik+ & at !
 end2  7#b7 9 clause 7v7 ( ! fir/       
subp>agraph 7,u7 7relat+ to succession  
plann+71 by /rik+ ! p]iod at ! end &    
ins]t+ a semicolon2  7#c7 by r$esignat+ 
! second subp>agraph 7,u7 7relat+ to    
tra9+ on dome/ic & int]national         
intellectual prop]ty protections7 z     
subp>agraph 7,v72  7#d7 9 clause        
7ii77,,ii7 ( subp>agraph 7,v71 z s      
r$esignat$1 by /rik+ ! p]iod at ! end & 
ins]t+ a semicolon2 &  7#e7 by add+ at !
 end ! foll[+ new subp>agraphs3  7,w7   
assi/+ small bus9esses 9 hir+ graduates 
f c>e] & te*nical education programs or 
programs ( /udy2  7,x7 assi/+ graduates 
f c>e] & te*nical education programs or 
programs ( /udy 9 />t+ up a small       
bus9ess conc]n4  4  7c7 ,wom5's bus9ess 
c5t]s ,section #bi7;b7 ( ! ,small       
,bus9ess ,act 7#ae ,u4,s4,c4 #fef7;b771 
z am5d$ by section #cjb1 is fur!r am5d$ 
by add+ at ! end ! foll[+ new p>agraphs3
  7#e7 assi/ance = small bus9ess conc]ns
 to hire graduates f c>e] & te*nical    

education programs or programs ( /udy2 &
  7#f7 assi/ance = graduates ( c>e] &   
te*nical education programs or programs 
( /udy to />t up a small bus9ess conc]n4
  4  #cjd4 ,assi/ance = small bus9esses 
affect$ by supply *a9 disruptions1 labor
 %ortages1 & cyb]attacks ,section       
#ba7;a7 ( ! ,small ,bus9ess ,act 7#ae   
,u4,s4,c4 #fdh7;a77 is am5d$ by add+ at 
! end ! foll[+ new p>agraph3  7#i7      
,assi/ance = small bus9esses affect$ by 
supply *a9 disruptions1 labor %ortages1 
& cyb]attacks ,! ,adm9i/rator %all use1 
z ! ,adm9i/rator det]m9es appropriate1  
res\rce p>tn]s to provide bus9ess       
c\nsel+ & tra9+ to any small bus9ess    
conc]n adv]sely affect$ by supply *a9   
disruptions1 labor %ortages1 &          
cyb]attacks4  4  #cje4 ,requirem5ts on  
use ( assi/ance by res\rce p>tn]s  7a7  
,9 g5]al ,! foll[+ requirem5ts %all     
apply ) respect to any cov]$ assi/ance  
provid$ to a res\rce p>tn] by ! ,small  
,bus9ess ,adm9i/ration3 7#a7 ,not)/&+   
any o!r provision ( law1 a res\rce p>tn]

 may use n m ?an an am\nt equal to #aj  
p]c5t ( ! annual budget ( su* res\rce   
p>tn] = m>ket+ 7includ+ website         
developm5t & ma9t5ance7 = upcom+ ev5ts  
or c\nsel+ opportunities = small bus9ess
 conc]ns4  7#b7 ,a res\rce p>tn] may n  
use any am\nts provid$ ?r\gh any su*    
cov]$ assi/ance = fundrais+ = a         
political entity or a nonpr(it          
organization4  7b7 ,t]m9ation ,!        
,adm9i/rator %all t]m9ate cov]$         
assi/ance if am\nts provid$ ?r\gh su*   
cov]$ assi/ance are us$ 9 violation (   
subsection 7a77#b74  7c7 ,applicability 
,?is section & ! requirem5ts ( ?is      
section %all apply-- 7#a7 ) respect to  
cov]$ assi/ance t is a grant or a prize1
 t is provid$ on or aft] ! date ( !     
enactm5t ( ?is ,act2 &  7#b7 ) respect  
to cov]$ assi/ance t is a coop]ative    
agreem5t or a contract1 t is ent]$ into 
on or aft] ! date ( ! enactm5t ( ?is    
,act4  7d7 ,def9itions ,9 ?is section3  
7#a7 ,cov]$ assi/ance ,! t]m cov]$      
assi/ance means f9ancial assi/ance 9 !  

=m ( a grant1 prize1 coop]ative         
agreem5t1 or contract4  7#b7 ,res\rce   
p>tn] ,! t]m res\rce p>tn] has ! mean+  
giv5 su* t]m 9 section #c ( ! ,small    
,bus9ess ,act 7#ae ,u4,s4,c4 #fcb71 z   
am5d$ by ?is ,act4  ,,iv ,small ,bus9ess
 ,adm9i/ration ,contract+ ,programs     
#dja4 ,annual te/imony ,section #aj ( ! 
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fci71 z am5d$ by section #cja7;c71 is  
fur!r am5d$ by add+ at ! end ! foll[+   
new subsection3  7k7 ,appe>ances be=e   
,congress ,! head ( ! ,(fice ( ,gov]nm5t
 ,contract+ & ,bus9ess ,developm5t ( !  
,small ,bus9ess ,adm9i/ration %all      
annually appe> be=e ! ,committee on     
,small ,bus9ess ( ! ,h\se (             
,repres5tatives & ! ,committee on ,small
 ,bus9ess & ,entrepr5eur%ip ( ! ,s5ate  
to provide in=mation on ! effectiv5ess (
 ,f$]al procurem5t programs op]at$ by ! 
,adm9i/ration1 includ+-- 7#a7 ! numb] ( 
small bus9ess conc]ns t p>ticipate 9 ea*
 su* program2  7#b7 ! numb] ( contracts 
& total doll> am\nt aw>d$ ?r\gh a       

competition re/rict$ to small bus9ess   
conc]ns "u ea* su* program2  7#c7 !     
numb] ( sole s\rce contracts & total    
doll> am\nt aw>d$ to small bus9ess      
conc]ns "u ea* su* program2  7#d7 a     
description ( assi/ance provid$ by !    
,adm9i/ration or res\rce p>tn]s to small
 bus9ess conc]ns t p>ticipate 9 ea* su* 
program2 &  7#e7 any o!r data relat+ to 
track+ ! long-t]m success & gr[? ( small
 bus9ess conc]ns t p>ticipate 9 su*     
programs4  4  #djb4 ,improvem5ts to     
accuracy 9 ,f$]al small bus9ess sp5d+   
,section #ae7;g7 ( ! ,small ,bus9ess    
,act 7#ae ,u4,s4,c4 #fdd7;g77 is am5d$  
by add+ at ! end ! foll[+ new p>agraph3 
7#d7 ,limitation on cr$it = meet+       
contract+ goals  7,a7 ,9 g5]al ,a ,f$]al
 ag5cy may allocate cr$it = a s+le prime
 contract n m ?an two times = purposes (
 demon/rat+ compliance ) ! ,gov]nm5twide
 goals e/abli%$ "u p>agraph 7#a77;,a74  
7,b7 ,allocation ( cr$it ,! fir/        
allocation ( cr$it describ$ 9           
subp>agraph 7,a7 %all be appli$ t[>d !  

goal describ$ 9 p>agraph 7#a77;,a77i74  
,a second allocation ( su* cr$it %all be
 appli$ z foll[s3 7i7 ,if ! prime       
contract 0 aw>d$ pursuant to a          
requirem5t to set aside su* prime       
contract = a small bus9ess conc]n       
describ$ 9 clause 7ii71 7iii71 7iv71 or 
7v7 ( p>agraph 7#a77;,a71 ! cr$it %all  
be appli$ t[>d ! goal describ$ 9 !      
appropriate clause t corresponds ) !    
aw>d4  7ii7 ,if ! prime contract 0 n    
aw>d$ pursuant to a requirem5t to set   
aside su* prime contract = a small      
bus9ess conc]n describ$ 9 clause 7ii71  
7iii71 7iv71 or 7v7 ( p>agraph          
7#a77;,a71 ! cr$it %all be appli$ t[>d  
any applicable goal describ$ 9 su*      
p>agraph 7#a77;,a74  7,c7 ,cr$it def9$  
,9 ?is p>agraph1 ! t]m cr$it means !    
value ( a prime contract4  4  #djc4     
,/r5g!n+ subcontract+  7a7 ,in=mation on
 fir/ ti] subcontractors ,section #h7;d7
 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4
 #fcg7;d77 is am5d$ by add+ at ! end !  
foll[+ new p>agraph3  7#ah7 ,in=mation  

on fir/ ti] subcontractors  7,a7 ,9     
g5]al ,n lat] ?an sev5 days aft] a prime
 contractor aw>ds a subcontract to a    
fir/ ti] subcontractor t is small       
bus9ess conc]n "u a contract ) respect  
to :i* su* prime contractor is requir$  
to develop a subcontract+ plan "u       
p>agraph 7#d7 or 7#e71 ! prime          
contractor %all provide to ! contract+  
(fic] = su* contract-- 7i7 a li/ ( all  
fir/ ti] subcontractors = su* contract t
 are small bus9ess conc]ns2 &  7ii7 !   
contact in=mation describ$ 9 subp>agraph
 7,b74  7,b7 ,contact in=mation ,n lat] 
?an ?ree days be=e ! date on :i* a prime
 contractor is requir$ to provide       
in=mation = a contract to a contract+   
(fic] "u subp>agraph 7,a71 ea* fir/ ti] 
subcontractor ( su* prime contractor =  
su* contract %all provide to su* prime  
contractor contact in=mation t is-- 7i7 
= an individual 9 ! employ ( su*        
subcontractor2 &  7ii7 unrelat$ to any  
relation%ip ( ! subcontractor ) ! prime 
contractor z a subcontractor4  4  7b7   

,que/ionnaire on prime contractor       
engagem5t ) c]ta9 subcontractors  7#a7  
,developm5t ,! ,adm9i/rator %all develop
 a que/ionnaire to collect fe$back f    
fir/ ti] subcontractors t are small     
bus9ess conc]ns reg>d+ ! engagem5t ( a  
prime contractor ) su* subcontractor    
dur+ ! p]=mance ( a subcontract ! prime 
contractor aw>d$ to su* subcontractor4  
7#b7 ,availability ,! ,adm9i/rator %all 
make su* que/ionnaire available to      
,f$]al ag5cies4  7#c7 ,use (            
que/ionnaires  7,a7 ,9 g5]al ,ea* head (
 a ,f$]al ag5cy %all require contract+  
(fic]s = su* ,f$]al ag5cy to-- 7i7      
di/ribute to fir/ ti] subcontractors t  
are small bus9ess conc]ns volunt>y      
que/ionnaires reg>d+ ! engagem5t ( a    
prime contractor ) su* subcontractor    
dur+ ! p]=mance ( a subcontract ! prime 
contractor aw>d$ to su* subcontractor2 &
  7ii7 collect su* que/ionnaires f su*  
fir/ ti] subcontractors t elect to      
respond to su* que/ionnaires4  7,b7 ,pa/
 p]=mance record ,a contract+ (fic] may 

use su* que/ionnaires 9 any sy/em us$ by
 ! ,f$]al ,gov]nm5t to monitor or record
 pa/ p]=mance ( ! prime contractor4     
7#d7 ,confid5tiality ,a contract+ (fic] 
%all n disclose ! cont5ts ( a           
que/ionnaire describ$ 9 p>agraph 7#a7 to
 ! prime contractor = ! contract to :i* 
su* que/ionnaire relates unless !       
respond5t to su* que/ionnaire cons5ts to
 su* disclosure4  7#e7 ,def9itions ,9   
?is subsection1 ! t]ms ,f$]al ag5cy1    
fir/ ti] subcontractor1 & prime         
contractor h ! mean+s giv51             
respectively1 9 section #c ( ! ,small   
,bus9ess ,act 7#ae ,u4,s4,c4 #fcb74  7c7
 ,enhanc+ subcontract+ report+          
acc\ntability ,section #h7;d7 ( ! ,small
 ,bus9ess ,act 7#ae ,u4,s4,c4 #fcg7;d77 
is am5d$-- 7#a7 9 p>agraph 7#g77;,b71 by
 add+ at ! end ! foll[+3 ,! timel9ess ) 
:i* a contractor submits reports requir$
 pursuant to p>agraph 7#f77;,e7 %all be 
consid]$ 9 any pa/ p]=mance evaluation (
 su* contractor und]tak5 by ! ag5cy4 2 &
  7#b7 9 p>agraph 7#i7-- 7,a7 9         

subp>agraph 7,a71 by add+ or at ! end2  
7,b7 9 subp>agraph 7,b71 by /rik+ or at 
! end2  7,c7 by /rik+ subp>agraph 7,c72 
7,d7 by /rik+ may be consid]$ & ins]t+  
%all be consid]$2 &  7,e7 by add+ aft]  
contract4 ! foll[+3 ,! failure ( any    
contractor or subcontractor to comply ) 
assurances provid$ "u p>agraph 7#f77;,e7
 %all be consid]$ a mat]ial brea* ( !   
relevant contract or subcontract & %all 
negatively affect any pa/ p]=mance      
evaluations ( ! contractor or           
subcontractor if ! contractor or        
subcontractor did n correct su*         
failure44  ,v ,small ,bus9ess           
,adm9i/ration ,duplication  #eja4       
,elim9ate programs duplicat+ private    
sector  7a7 ,community ,navigator ,pilot
 ,program ,section #ejjd7;d7 ( !        
,am]ican ,rescue ,plan ,act ( #bjba 7#ae
 ,u4,s4,c4 #ijac7;d77 is am5d$ by /rik+ 
,decemb] #ca1 #bjbe & ins]t+ ! date ( ! 
enactm5t ( ! ,,improve ! ,,sba ,act4    
7b7 ,gr[? ,accel]ators ,fund            
,competition program ,! ,adm9i/rator may

 n c>ry out ! ,gr[? ,accel]ators ,fund  
,competition program or any simil>      
program or initiative n specifically    
au?oriz$ by law4  7c7 ,regional         
,innovation ,clu/]s initiative ,!       
,adm9i/rator may n c>ry out ! ,regional 
,innovation ,clu/]s initiative or any   
simil> program or initiative n          
specifically au?oriz$ by law4  #ejb4    
,entrepr5eurial developm5t s]vice limits
 ,! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 
#fca et seq47 is am5d$-- 7#a7 by        
r$esignat+ section #di z section #ea2 & 
7#b7 by ins]t+ aft] section #dh ! foll[+
 new section3  #di4 ,use ( au?oriz$     
entrepr5eurial developm5t programs      
,not)/&+ any o!r provision ( law1 !     
,adm9i/rator %all only deliv]           
entrepr5eurial developm5t s]vices &     
entrepr5eurial education ?r\gh a program
 au?oriz$ "u section #g7;j71 #g7m71     
#h7;a71 #h7;b77#a71 #ba1 #bb1 #bi1 or   
#cb ( ?is ,act4  4  #ejc4 ,limitation on
 new pilot programs until ,inspector    
,g5]al recomm5dations clos$ ,p>agraph   

7#c7 ( section #aj7;e7 ( ! ,small       
,bus9ess ,act 7#ae ,u4,s4,c4 #fci7;e771 
z add$ by section #hja7;b71 is am5d$ by 
add+ at ! end ! foll[+ new subp>agraph3 
7,d7 ,limit on new pilot programs ,!    
,adm9i/rator may n beg9 any new pilot   
program n specifically au?oriz$ by      
,congress unless1 ) respect to ea*      
recomm5dation made to ! ,adm9i/ration by
 ! ,inspector ,g5]al ( ! ,small ,bus9ess
 ,adm9i/ration1 ! ,adm9i/rator has-- 7i7
 made ! det]m9ation describ$ 9          
subp>agraph 7,a72  7ii7 submitt$ !      
report requir$ "u subp>agraph 7,c72 &   
7iii7 if ! ,adm9i/rator det]m9es to     
implem5t su* recomm5dation-- 7,i7       
implem5t$ ! recomm5dation2 &  7,,ii7    
submitt$ to ! ,inspector ,g5]al         
suffici5t evid5ce ( su* corrective      
action1 z det]m9$ by ! ,inspector       
,g5]al4  4  ,,vi ,prohibition (         
,ineligible ,use ( ,funds  #fja4        
,prohibition on c]ta9 small bus9ess     
conc]ns  7a7 ,9 g5]al ,! ,adm9i/rator   
may n provide assi/ance "u any program (

 ! ,adm9i/ration to ! foll[+3 7#a7 ,an  
entity prim>ily engag$ 9 lobby+         
activities1 z def9$ 9 section #c ( !    
,lobby+ ,disclosure ,act ( #aiie 7#b    
,u4,s4,c4 #afjb74  7#b7 ,an entity      
e/abli%$ = ! purpose ( conduct+ public  
policy rese>* or = engag+ 9 policy      
advocacy or political /rategy1 or t     
o!rwise is kn[n z a ?9k tank4  7#c7 ,an 
entity-- 7,a7 organiz$ "u ! laws ( !    
,p's ,republic ( ,*9a or ! ,special     
,adm9i/rative ,region ( ,hong ,kong2    
7,b7 = :i* ! headqu>t]s or ! pr9cipal   
place ( bus9ess is locat$ 9 ! ,p's      
,republic ( ,*9a1 includ+ ! ,special    
,adm9i/rative ,region ( ,hong ,kong2    
7,c7 = :i* an entity describ$ 9         
subp>agraph 7,b7 owns or holds1 directly
 or indirectly1 n less ?an #bj p]c5t ( !
 economic int]e/ ( ! bus9ess conc]n or  
entity1 includ+ z equity %>es or a      
capital or pr(it int]e/ 9 a limit$      
liability company or p>tn]%ip2 or  7,d7 
t reta9s1 z a memb] ( ! bo>d ( directors
 ( ! entity1 an individual :o is a      

resid5t ( ! ,p's ,republic ( ,*9a1      
includ+ ! ,special ,adm9i/rative ,region
 ( ,hong ,kong4  7#d7 ,a p]son requir$  
to submit a regi/ration /atem5t "u      
section #b ( ! ,=eign ,ag5ts            
,regi/ration ,act ( #aich1 z am5d$ 7#bb 
,u4,s4,c4 #fab74  7#e7 ,a labor         
organization t is describ$ 9 section    
#eja7;c77#e7 ( ! ,int]nal ,rev5ue ,code 
( #aihf & t is exempt f taxation "u     
section #eja7;a7 ( su* ,code4  7#f7 ,!  
,plann$ ,p>5?ood ,f$]ation ( ,am]ica1   
,inc41 or any affiliate or cl9ic (      
,plann$ ,p>5?ood ,f$]ation ( ,am]ica1   
,inc4  7#g7 ,a p]son convict$ ( an (f5se
 relat+ to a misdemeanor or felony      
assault ( a law en=cem5t (fic]1 or      
convict$ ( a felony = actions dur+ or 9 
connection ) a riot t result$ 9 !       
de/ruction ( a small bus9ess conc]n 7z  
def9$ "u section #c ( ! ,small ,bus9ess 
,act 7#ae ,u4,s4,c4 #fcb774  #fjb4 ,use 
( proce$s ,! proce$s ( a loan made or   
gu>ante$ by ! ,adm9i/rator may n be us$ 
= ! foll[+3 7#a7 ,prepaym5t ( comm]cial 

debt4  7#b7 ,repaym5t ( ,f$]al debt     
obligations4  ,,vii ,ensure ,all ,small 
,bus9esses are ,s]v$  #gja4 ,small      
bus9ess conc]n equal treatm5t ,! ,small 
,bus9ess ,act 7#ae ,u4,s4,c4 #fca71 z   
am5d$ by section #ejb1 is fur!r am5d$ by
 ins]t+ aft] section #di ! foll[+ new   
section3  #ej4 ,small bus9ess conc]n    
equal treatm5t  7a7 ,9 g5]al ,except z  
provid$ 9 subsection 7b7 & not)/&+ any  
o!r provision ( law1 ! ord] 9 :i* any   
assi/ance1 b5efit1 or aw>d (f]$ by a    
program adm9i/]$ by or "u ! au?ority ( !
 ,adm9i/ration is provid$ to individuals
 & entities eligible = su* assi/ance1   
b5efit1 or aw>d %all be det]m9$ on a    
fir/-come1 fir/-s]v$ basis4  7b7        
,eligibility det]m9ation ,= ! purposes (
 a program describ$ 9 subsection 7a71 an
 individual or entity may n be det]m9$  
ineligible to apply = or receive any    
assi/ance1 b5efit1 or aw>d provid$ "u or
 ?r\gh su* a program solely on ! basis (
 a program requirem5t t only c]ta9 o!r  
individuals or entities are eligible to 

apply = or receive su* assi/ance1       
b5efit1 or aw>d 9 a specifi$ p]iod if1  
aft] su* p]iod1 su* individual or entity
 w\ld be s eligible4  7c7 ,exclusions   
,?is section does n apply ) respect to  
any program "u section #h7;a71 #h7;d71  
#bi1 or #ca1 or any o!r procurem5t      
program adm9i/]$ by or "u ! au?ority ( !
 ,adm9i/ration4  7d7 ,rules (           
con/ruction  7#a7 ,o!r program          
requirem5ts ,except z provid$ 9 ?is     
section1 no?+ 9 ?is section may be      
con/ru$ z modify+ or elim9at+ any       
requirem5t ( any program describ$ 9     
subsection 7a74  7#b7 ,applicability to 
subsequ5t law ,no provision ( law enact$
 aft] ! date ( ! enactm5t ( ?is section 
may be con/ru$ z limit+1 sup]c$+1 or    
o!rwise affect+ ?is section1 except to !
 ext5t t x does s by specific ref]5ce to
 ?is section4  4  ,,viii ,inspector     
,g5]al ( ! ,small ,bus9ess ,adm9i/ration
  #hja4 ,cl>ification ( !               
responsibilities ( ! ,adm9i/rator )     
respect to ! ,inspector ,g5]al ( !      

,small ,bus9ess ,adm9i/ration  7a7      
,implem5tation ( cov]$ recomm5dations   
7#a7 ,9 g5]al ,n lat] ?an #de days aft] 
! date on :i* ! ,inspector ,g5]al ( !   
,small ,bus9ess ,adm9i/ration issues a  
cov]$ recomm5dation1 ! ,adm9i/rator %all
 det]m9e :e!r to implem5t su* cov]$     
recomm5dation4  7#b7 ,cov]$             
recomm5dation def9$ ,9 ?is subsection1 !
 t]m cov]$ recomm5dation means a        
recomm5dation made by ! ,inspector      
,g5]al ( ! ,small ,bus9ess ,adm9i/ration
 result+ f a situation = :i* ! ,presid5t
 decl>es-- 7,a7 an em]g5cy "u section   
#eja ( ! ,rob]t ,t4 ,/af=d ,disa/]      
,relief & ,em]g5cy ,assi/ance ,act 7#db 
,u4,s4,c4 #eaia72  7,b7 a major disa/]  
"u section #dja ( su* ,act 7#db         
,u4,s4,c4 #eagj72 or  7,c7 a national   
em]g5cy "u section #bja7;a7 ( !         
,national ,em]g5cies ,act 7#ej ,u4,s4,c4
 #afba7;a774  7b7 ,det]m9ations on      
recomm5dations ,section #aj7;e7 ( !     
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fci71 z am5d$ by section #ajb7;b71 is  

fur!r am5d$ by add+ at ! end ! foll[+   
new p>agraph3  7#c7 ,det]m9ations on    
recomm5dations  7,a7 ,9 g5]al ,n lat]   
?an #aj days aft] ! date on :i* !       
,inspector ,g5]al issues a              
recomm5dation1 ! ,adm9i/rator %all make 
a det]m9ation :e!r or n to implem5t su* 
recomm5dation4  7,b7 ,implem5tation ,n  
lat] ?an #ij days aft] ! date on :i* !  
,adm9i/rator makes a det]m9ation to     
implem5t a recomm5dation describ$ "u    
subp>agraph 7,a71 ! ,adm9i/rator %all   
fully implem5t su* recomm5dation4  7,c7 
,report ,n lat] ?an #ij days aft] ! date
 on :i* ! ,adm9i/rator makes a          
det]m9ation "u subp>agraph 7,a71 !      
,adm9i/rator %all submit to ! ,inspector
 ,g5]al a report describ+ ! reason+ = ! 
det]m9ation4  4  7c7 ,report on fraud   
rec\pm5t ,section #aj ( ! ,small        
,bus9ess ,act 7#ae ,u4,s4,c4 #fci71 z   
am5d$ by ?is ,act1 is fur!r am5d$ by    
add+ at ! end ! foll[+ new subsection3  
7l7 ,report on fraud rec\pm5t ,n lat]   
?an ! date t is #c mon?s aft] ! end ( ! 

fiscal ye> 9 :i* ?is subsection is      
enact$1 & n lat] ?an ! date t is ?ree   
mon?s aft] ! end ( ea* fiscal ye>       
!reaft]1 ! ,inspector ,g5]al ( ! ,small 
,bus9ess ,adm9i/ration %all submit to ! 
,committee on ,small ,bus9ess ( ! ,h\se 
( ,repres5tatives & ! ,committee on     
,small ,bus9ess & ,entrepr5eur%ip ( !   
,s5ate a report on ! doll> am\nt &      
incid5ce ( fraud rec\pm5t = !           
,adm9i/ration = ! fiscal ye> prec$+ !   
date ( ! report4  4  ,,ix ,(fice (      
,advocacy  #ija4 ,te/imony ( ! ,*ief    
,c\nsel = ,advocacy ,! ,*ief ,c\nsel =  
,advocacy ( ! ,small ,bus9ess           
,adm9i/ration %all annually appe> be=e !
 ,committee on ,small ,bus9ess ( ! ,h\se
 ( ,repres5tatives & ! ,committee on    
,small ,bus9ess & ,entrepr5eur%ip ( !   
,s5ate aft] ea* report submitt$ "u      
section #fab7;a7 ( title #e1 ,unit$     
,/ates ,code1 to te/ify on su* report & 
any ,f$]al ag5cy rule t w h a           
significant economic impact on a        
sub/antial numb] ( small entities 7z    

def9$ "u *apt] #f ( su* title71 z       
det]m9$ by ! ,*ief ,c\nsel = ,advocacy (
 ! ,small ,bus9ess ,adm9i/ration4  #ijb4
 ,qu>t]ly reports by ! ,*ief ,c\nsel =  
,advocacy ,section #bjf ( ,public ,law  
#id-cje 7#ae ,u4,s4,c4 #fcd;f7 is       
am5d$-- 7#a7 by /rik+ ,! ,*ief ,c\nsel &
 ins]t+ ! foll[+3  7a7 ,9 g5]al ,! ,*ief
 ,c\nsel  2 &  7#b7 by add+ at ! end !  
foll[+ new subsection3  7b7 ,qu>t]ly    
reports ,! ,*ief ,c\nsel %all publi% a  
qu>t]ly economic report & analysis on a 
website ( ! ,(fice ( ,advocacy t        
includes metrics & analysis on inflation
 & labor & bus9ess m>ket conditions = ! 
qu>t] cov]$ by su* report4  4  #ijc4    
,am5dm5t to prim>y functions & duties ( 
! ,(fice ( ,advocacy ( ! ,small ,bus9ess
 ,adm9i/ration  7a7 ,prim>y functions   
,section #bjb ( ,public ,law #id-cje    
7#ae ,u4,s4,c4 #fcd;b7 is am5d$-- 7#a7 9
 p>agraph 7#a71 by ins]t+ & !           
int]national economy aft] economy2  7#b7
 9 p>agraph 7#c7-- 7,a7 by ins]t+ &     
compile 9 a public repository aft]      

measure2 &  7,b7 by ins]t+ & indirect   
aft] direct co/s2  7#c7 9 p>agraphs 7#f7
 & 7#g71 by ins]t+ & rural ent]prises   
aft] m9ority ent]prises2  7#d7 9        
p>agraph 7#h71 by /rik+ m9ority & ins]t+
 m9ority ent]prises1 rural ent]prises12 
7#e7 9 p>agraph 7#i71 by /rik+ complete 
& ins]t+ compete2 &  7#f7 9 p>agraph    
7#ab71 by /rik+ s]vic$-disabl$ & ins]t+ 
s]vice-disabl$4  7b7 ,duties ,section   
#bjc7;a7 ( ,public ,law #id-cje 7#ae    
,u4,s4,c4 #fcd;c7 is am5d$-- 7#a7 9     
p>agraph 7#c71 by ins]t+ & ! ,small     
,bus9ess ,inve/m5t ,act ( #aieh aft]    
,small ,bus9ess ,act2  7#b7 9 p>agraph  
7#e71 by /rik+ & at ! end2  7#c7 9      
p>agraph 7#f71 by /rik+ ! p]iod at ! end
 & ins]t+ 2 &2 &  7#d7 by add+ at ! end 
! foll[+3  7#g7 repres5t ! views &      
int]e/s ( small bus9esses be=e =eign    
gov]nm5ts & int]national entities = !   
purpose ( contribut+ to regulatory &    
trade initiatives :i* may affect small  
bus9esses4  4  ,x ,small ,bus9ess       
,adm9i/ration z a ,repres5tative (      

,small ,bus9esses  #ajja4 ,economic     
headw9ds report ,section #aj ( ! ,small 
,bus9ess ,act 7#ae ,u4,s4,c4 #fci71 z   
am5d$ by ?is ,act1 is fur!r am5d$ by    
add+ at ! end ! foll[+ new subsection3  
7m7 7#a7 ,n lat] ?an ! date t is #abj   
days aft] ! date ( ! enactm5t ( ?is     
subsection1 & annually !reaft]1 !       
,adm9i/rator %all submit to ,congress a 
report on ! effects on small bus9ess    
conc]ns (-- 7,a7 ! burd5 ( regulatory   
compliance 9 ! mo/ rec5tly complet$     
fiscal ye> prior to ! date on :i* su*   
report is submitt$2  7,b7 an annual     
increase great] ?an two p]c5t 9 !       
,consum] ,price ,index = all-urban      
consum]s1 ,unit$ ,/ates city av]age1 z  
publi%$ by ! ,bureau ( ,labor ,/ati/ics1
 or if su* index %all cease to be       
publi%$1 any successor index or         
reasonable sub/itute !re(2 &  7,c7 any  
increases by ! ,gov]nm5t 9 any gov]nm5t 
sp5d+ or supplem5tal unemploym5t b5efits
 provid$ = by law 9 effect on ! date ( !
 enactm5t ( ?is subsection 9 ! mo/      

rec5tly complet$ ye> prior to ! date on 
:i* su* report is submitt$4  7#b7 ,dur+ 
! ?ree-ye> p]iod beg9n+ on ! date ( !   
enactm5t ( ?is ,act1 9 addition to !    
in=mation describ$ 9 subp>agraphs 7,a7  
?r\gh 7,c7 ( p>agraph 7#a71 !           
,adm9i/rator %all include 9 ! report    
requir$ "u su* p>agraph ! foll[+3 7,a7  
,an analysis ( ! effects on small       
bus9ess conc]ns ( ! social re/rictions  
impos$ by ,f$]al1 ,/ate1 or local       
gov]nm5ts 9 response to ,,covid-#ai1    
includ+ curfews1 qu>ant9es1 capacity    
limits1 & social ga!r+ re/rictions4     
7,b7 ,an analysis ( ! effects on small  
bus9ess conc]ns ( increas+ ! corporate  
tax rate1 ! individual tax rate1 !      
capital ga9s rate1 ! d$uction "u section
 #aii;,a ( ! ,int]nal ,rev5ue ,code (   
#aihf1 & ! e/ate tax1 includ+ by        
elim9at+ ! /ep up 9 basis4  7,c7 ,an    
analysis ( ! effects on small bus9ess   
conc]ns ( an increase 9 ! ,f$]al m9imum 
wage to #ae p] h\r4  7,d7 ,an analysis (
 ! effects on small bus9ess conc]ns (   

supply *a9 disruptions 9 ! mo/ rec5tly  
complet$ ye> prior to ! date on :i* su* 
report is submitt$4  4