Committee Passes Six Bipartisan Small Business Bills (May 23, 2023)

Summary

House Small Business Committee release dated May 23, 2023, stating that the committee passed six bipartisan bills to improve oversight of Small Business Administration (SBA) loan programs, enhance workforce development initiatives, and increase access to resources for veteran entrepreneurs. Ranking Member Nydia M. Velázquez (D-NY) is quoted on the committee’s bipartisan tradition. It lists the “7(a) Loan Agent Oversight Act,” which requires the SBA Office of Credit Risk Management (OCRM) to submit an annual report to Congress on loans generated through loan agent activity, and the “Veteran Entrepreneurship Training Act of 2023,” which amends the Small Business Act to authorize the “Boots to Business” veteran entrepreneurship training program for five years.

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Committee Passes Six Bipartisan Small Business Bills
Source(print): https://democrats-smallbusiness.house.gov/news/documentprint.aspx?DocumentID=4565

Committee Passes Six Bipartisan Small Business Bills 

 democrats-smallbusiness.house.gov 

 Cmte Small Business (D) 

 Contact: 

 Committee Passes Six Bipartisan Small Business Bills 

 Washington ,
 May 23, 2023 
 -

 Washington D.C.— Today, the House Small Business Committee passed six bipartisan bills to improve oversight of Small Business Administration (SBA) loan programs, enhance workforce development initiatives, and increase access to resources for veteran entrepreneurs.  
  
“Today’s legislation showcases this committee’s bipartisan tradition of enacting legislation that fosters a nurturing environment for small businesses, and conducts rigorous oversight of SBA’s programs,” said Ranking Member Nydia M. Velázquez (D-NY) . “The bills we advanced today will help address pressing challenges facing small businesses, particularly our transitioning service members and veterans.” 
  
 H.R. 1644, “7(a) Loan Agent Oversight Act” 
Introduced by Rep. Dan Meuser (R-PA) and Rep. Dean Phillips (D-MN) 
  
The bill requires the SBA Office of Credit Risk Management (OCRM) to submit an annual report to Congress regarding the performance of and risk associated with loans generated through loan agent activity. 
  
 H.R. 1651, “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 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. 1541, “Small Business Workforce Pipeline Act of 2023” 
Introduced by Rep. Jason Crow (D-CO), Rep. Marc Molinaro (R-NY), Rep. Shri Thanedar (D-MI), Rep. Maria Salazar (R-FL) 
  
The bill would allow Small Business Development Centers (SBDCs) to provide assistance to small businesses regarding apprenticeship, pre-apprenticeship, and job training programs by disseminating information from the DOL 
  
 H.R. 1730, “Supporting Small Business and Career and Technical Education Act of 2023” 
Introduced by Rep. Roger Williams (R-TX) and Rep. Marie Gluesenkamp Perez (D-WA) 
  
The bill would help small businesses meet their hiring needs. This legislation directs SBDCs and WBCs to assist small businesses in hiring graduates from career and technical education programs, in addition to the existing services SBDCs and WBCs provide. Additionally, this legislation supports career and technical education graduates by directing SBDCs and WBCs to assist them in starting up a small business. 
  
 H.R. 1606, “Veteran Entrepreneurship Training Act of 2023” 
Introduced by Rep. Brad Schneider (D-IL), Rep. Roger Williams (R-TX), Rep. Morgan McGarvey (D-KY), Rep. Jake Ellzey (R-TX) 
  
The bill amends the Small Business Act to authorize the “Boots to Business” veteran entrepreneurship training program for five years. 
  
 H.R. 3511, “To amend the Small Business Act require training on increasing contract awards to small business concerns owned and controlled by service-disabled veterans, and for other purposes” 
Introduced by Rep. Nick LaLota (R-NY) and Rep. Morgan McGarvey (D-KY) 
  
The bill requires SBA to issue guidance for each agency to better meet the current Service-Disabled Veteran-Owned Small Businesses contracting goal and provide training for agencies that come up short.  
  
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