House Passes Set of Six Bipartisan Small Business Bills (November 2, 2021)

Summary

A November 2, 2021 release from the Cmte Small Business site stating that the House passed a set of six bipartisan bills that originated out of the House Small Business Committee. Chairwoman Nydia M. Velázquez is quoted saying the bills will help ensure that small businesses are well-capitalized, better protected, and adequately trained. The release describes the Veteran Entrepreneurship Training Act of 2021, which amends the Small Business Act to authorize the "Boots to Business" veteran entrepreneurship training program for five years. It also describes the SBA Cyber Awareness Act and the Small Business 7(a) Loan Agent Transparency Act, with each bill's sponsors.

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House Passes Set of Six Bipartisan Small Business Bills
Source(print): https://democrats-smallbusiness.house.gov/news/documentprint.aspx?DocumentID=4077

House Passes Set of Six Bipartisan Small Business Bills 

 democrats-smallbusiness.house.gov 

 Cmte Small Business (D) 

 Contact: 

 House Passes Set of Six Bipartisan Small Business Bills 

 Washington ,
 November 2, 2021 
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 Washington, D.C.— Today, the House passed a set of six bipartisan bills that originated out of the House Small Business Committee. The bills feature measures to improve critical SBA lending programs and boost small business cyber-security protections. One bill, H.R. 3469, will reauthorize a program providing entrepreneurial development training to veterans. The House passed the legislation as the nation celebrates National Veterans Small Business Week. 
 
“As small businesses continue to build back better in the wake of the COVID crisis, Congress must boost support for entrepreneurs in areas crucial to everyday success,” said  Chairwoman Nydia M. Velázquez (D-NY) . “These bipartisan bills will help ensure that small businesses are well-capitalized, better protected, and adequately trained.” 
  
 H.R. 3469, “Veteran Entrepreneurship Training Act of 2021” 
Introduced by Rep. Bradley Schneider (D-IL) and Rep. Roger Williams (R-TX)  
  
The bill amends the Small Business Act to authorize the “Boots to Business” veteran entrepreneurship training program for five years. 
  
 H.R. 4256, “Investing in Main Street Act” 
Introduced by Rep. Judy Chu (D-CA) and Rep. Andrew Garbarino (R-NY) 
  
The bill would increase the percent of capital and surplus a financial institution or federal savings institution may invest in an Small Business Investment Company from 5 to 15 percent, subject to the approval of the appropriate federal banking agency. 
  
 H.R. 3462, “SBA Cyber Awareness Act” 
Introduced by Rep. Jason Crow (D-CO) and Rep. Young Kim (R-CA) 
  
The bill directs SBA to issue reports that assess its cybersecurity infrastructure and report cyber-threats, breaches, and cyber-attacks. 
  
 H.R. 4481, “Small Business 7(a) Loan Agent Transparency Act” 
Introduced by Rep. Dean Phillips (D-MN) and Rep. Dan Meuser (R-PA) 
  
The bill would require the Small Business Administration Office of Credit Risk Management (OCRM) to establish a registration system for 7(a) agents that assigns each a unique identifier and collects data to help OCRM track and evaluate loan performance for loans generated through loan agent activity.  
  
 H.R. 4531, “7(a) Loan Agent Oversight Act” 
Introduced by Rep. Daniel Meuser (R-PA) and Rep. Dean Phillips (D-MN) 
  
The bill requires the OCRM to submit an annual report to Congress regarding the performance of and risk associated with loans generated through loan agent activity. 
  
 H.R. 4515, “Small Business Development Center Cyber Training Act of 2021” 
Introduced by Reps. Andrew Garbarino (R-NY), Dwight Evans (D-PA), Steve Chabot (R-OH), and Chrissy Houlahan (D-PA) 
  
The bill would establish a cyber counseling certification program in Small business Development Centers (SBDCs) to provide specific, free-of-charge cyber training for small businesses.  The cyber training provided by the nationwide network of SBDCs will offer crucial resources for small businesses to plan and implement cybersecurity protections and combat cyberattacks. 
  
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