Acts Reported on by the Senate Committee on Small Business and Entrepreneurship

Officially established on October 8, 1940, the Senate Committee on Small Business and Entrepreneurship was established to analyze and identify problems of small businesses. The committee oversees the operations of the Small Business Administration, an agency responsible for providing support to both entrepreneurs and small businesses. Ten republicans and nine democrats form the current membership of the special committee. Some of the major issues the committee attempts to alleviate for small businesses include, but are not limited to: capital accessibility, business development hurdles, contracting and associated complications, and underrepresented entrepreneur populations. An overview of the current policies in disucssion can be found here:

Overview of the Pieces of Legislation in 2015

Current Policy

• S. 1400 / H.R. 2221: Veterans Small Business Enhancement Act of 2015
  • To amend the Small Business Act to direct the task force of the Office of Veterans Business Development to provide access to and manage the distribution of excess or surplus property to veteran-owned small businesses.
  • Prognosis: 24% chance of being enacted

• S. 2116: Small Business Broadband and Emerging Information Technology Enhancement Act of 2015
  • To improve certain programs of the Small Business Administration to better assist small business customers in accessing broadband technology.
  • Prognosis: 23% chance of being enacted

• S. 552 / H.R. 1023: Small Business Investment Capital Company Act of 2015
  • To amend the Small Business Investment Act of 1958 to increase the maximum amount of outstanding leverage provided by the Small Business Administration to two or more commonly controlled small business investment companies not under capital impairment from $225 million to $350 million.
  • Prognosis: 22% chance of being enacted

• S. 996 / H.R.2266: Commercial Real Estate and Economic Development Act of 2015
  • To reinstate the authority for Small Business Administration low-interest refinancing of small business debt not involving business expansion under the SBA's local development business loan program.
  • Effective: on and after enactment of this Act, and during any fiscal year in which the federal government's cost in making loan guarantees under such program is zero.
  • Repeals a provision of the Small Business Jobs Act of 2010 that terminated such authority as of September 27, 2012.
  • Prognosis: 1% chance of being enacted

• S. 1470: Recovery Improvements for Small Entities After Disaster Act of 2015
  • To amend the Small Business Act to provide additional assistance to small business concerns for disaster recovery, and for other purposes.
  • Prognosis: 21% chance of being enacted

• S. 1292: HUBZone Revitalization Act of 2015
  • To amend the Small Business Act to treat certain qualified disaster areas as HUBZones and to extend the period for HUBZone treatment for certain base closure areas, and for other purposes.
  • Prognosis: 21% chance of being enacted

• S.999 / H.R. 207: Small Business Development Centers Improvement Act of 2015
  • To amend the Small Business Act with respect to the authority of the Small Business Administration to use certain SBA programs, including the small business development center (SBDC) program, to provide grants, financial assistance, loans, export assistance, and subcontracting opportunities on federal contracts to specified small businesses, organizations, state governments, universities, companies, and other entities that assist smaller enterprises.
  • Declares that the SBA shall only use such programs to deliver entrepreneurial development services, entrepreneurial education, support for the development and maintenance of clusters, or business training.
  • Prognosis: 9% chance of being enacted

• S. 1756: Small Business Energy Efficiency Act of 2015
  • To amend the Small Business Investment Act of 1958 to allow a state development company to use the economic development objective of helping small businesses achieve savings through energy efficiency to qualify for loan assistance.
  • Prognosis: 18% chance of being enacted

• S. Res. 252: An original resolution expressing the sense of the Committee on Small Business and Entrepreneurship of the Senate relating to easing the burden of Federal tax compliance on small businesses
  • To amend provisions of the Internal Revenue Code relating to the taxation of small business entities.
  • Prognosis: 93% chance of being agreed to

• S. 2126: Women’s Small Business Ownership Act of 2015
  • To amend the Small Business Act to direct the Small Business Administration Office of Women's Business Ownership to address issues concerning specified disciplines required for starting, operating, and increasing a small business.
  • Prognosis: 17% chance of being enacted

• S. 957 / H.R. 2499 : Veterans Entrepreneurship Act
  • Increases access to capital for veteran entrepreneurs to help create jobs.
  • Prognosis: Enacted

• S. 2136: Improving Small Business Innovative Research and Technologies Act of 2015
  • To establish the Regional SBIR State Collaborative Initiative Pilot Program.
  • Prognosis: 15% chance of being enacted

• H.R. 2262: U.S. Commercial Space Launch Competitiveness Act
  • To facilitate a pro-growth environment for the developing commercial space industry by encouraging private sector investment and creating more stable and predictable regulatory conditions, and for other purposes.
  • Prognosis: Enacted

• S. 2273: STARTUP Vets Act of 2015
  • To require the Administrator of the Small Business Administration to establish an incubator and accelerator grant program for veterans and members of the Armed Forces.
  • Prognosis: 2% chance of being enacted

• H. RES. 511: Expressing support for designation of the third Tuesday in November as “National Entrepreneurs’ Day”
  • Expresses support for the designation of National Entrepreneurs Day.
  • Prognosis: 0% chance of being agreed to

• H. R. 3987: Jobs in America Act
  • To establish an employment-based immigrant visa for alien entrepreneurs who have received significant capital from investors to establish a business in the United States.
• Prognosis: 3% chance of being enacted

• H.R. 616: American Entrepreneurship and Investment Act of 2015
  • To amend the Immigration and Nationality Act to provide for reforms to the EB-5 immigrant investor program, and for other purposes.
  • Prognosis: 0% chance of being enacted

• H. R. 208: Superstorm Sandy Relief and Disaster Loan Program Improvement Act of 2015
  • To amend section 7(b) of Small Business Act to provide addition awards and financial assistance to small business development centers, women's business centers for disaster recovery. Recipients shall provide counseling, training, and other related services, such as promoting long-term resiliency, to small business concerns and entrepreneurs impacted by a major disaster.
  • Prognosis: Enacted

• S. 2138: Small Business Subcontracting Transparency Act of 2015
  • To amend the Small Business Act to improve the review and acceptance of subcontracting plans, and for other purposes.
  • Prognosis: 21% chance of being enacted

• H. R. 3997: To amend MAP-21 to establish a veterans business enterprises program, and for other purposes
  • To amend MAP–21 to establish a veterans business enterprises program, and for other purposes.
  • Prognosis: 3% chance of being enacted

• H. R. 9: Innovation Act
  • To amend title 35, United States Code, and the Leahy-Smith America Invents Act to make improvements and technical corrections, and for other purposes.
  • Prognosis: 36% chance of being enacted

• S. 1866: Veterans Small Business Ownership Improvements Act of 2015
  • To establish the veterans’ business outreach center program, to improve the programs for veterans of the Small Business Administration, and for other purposes.
  • Prognosis: 6% chance of being enacted

• S. 1000: SCORE for Small Business Act of 2015
  • To strengthen resources for entrepreneurs by improving the SCORE program, and for other purposes.
  • Prognosis: 15% chance of being enacted

• H. R. 1806: America COMPETES Reauthorization Act of 2015
  • To provide for technological innovation through the prioritization of Federal investment in basic research, fundamental scientific discovery, and development to improve the competitiveness of the United States, and for other purposes.
  • Prognosis: 11% chance of being enacted

• H. R. 962: Startup Act
  • To jump-start economic recovery through the formation and growth of new businesses, and for other purposes.
  • Prognosis: 1% chance of being enacted

• H. R. 253: Incentivize Growth Now In Tomorrow’s Entrepreneurs Act of 2015
  • To amend the Internal Revenue Code of 1986 to provide for the tax treatment of small business start-up savings accounts.
  • Prognosis: 1% chance of being enacted

• H. R. 2868: Small Business Health Fairness Act of 2015
  • To amend title I of the Employee Retirement Income Security Act of 1974 to improve access and choice for entrepreneurs with small businesses with respect to medical care for their employees.
  • Prognosis: 2% chance of being enacted

• H. R. 2060: United States-Mexico Economic Partnership Act
  • To promote economic partnership and cooperation between the United States and Mexico, particularly in the areas of academic exchange, entrepreneurship, and infrastructure integration.
  • Prognosis: 2% chance of being enacted

• H. R. 2310: Helping Our Middle-Class Entrepreneurs Act
  • To amend the Internal Revenue Code of 1986 to provide a standard home office deduction.
  • Prognosis: 0% chance of being enacted

• H. R. 3370: EB-JOBS Act of 2015
  • To amend the Immigration and Nationality Act to promote innovation, investment, and research in the United States, and for other purposes.
  • Prognosis: 0% chance of being enacted

• H. R. 2670: Microloan Modernization Act of 2015
  • To amend the Small Business Act to provide for expanded participation in the microloan program, and for other purposes.
  • Prognosis: 34% chance of being enacted

• S.963: Small Business Innovation Impact Act
  • To require that the Chief Counsel for Advocacy of Small Businesses submit a analysis on the investments of small businesses in developing new and useful inventions and obtaining patents for them. Additionally, the report should include information on university technology transfer to small businesses, university patent licensing, the ability for patents to attract outside investments for small businesses, and the ability for patents to protect against foreign competition.
  • Prognosis: 2% chance of being enacted

• S.1546: Ensuring Small Businesses Can Export Act 2015
  • To ensure that should there be a lapse in the loan programs of the Export-Import bank of the United States, the SBA will serve the bank's clients and create an insurance program that protects small business exports
  • Prognosis: 9% chance of being enacted

• S.1001: Small Business Lending Reauthorization Act 2015
  • To authorize the SBA to make general business loans in the amount of 20.5B in FY15 and 23.5B for FY16
  • Prognosis: 25% chance of being enacted

• S.1870: A bill to amend the Small Business Act to require the Administrator of the Small Business Administration to carry out a pilot program on issuing grants to eligible veterans to start or acquire qualifying businesses, and for other purposes.
  • This bill amends the Small Business Act to direct the Small Business Administration to carry out a pilot program to assess the feasibility and advisability of making grants to eligible veterans to start or acquire a qualifying business enterprise.
  • Prognosis: 27% chance of being enacted

• S.958 : Small Business Fairness Act
  • The bill amends the Small Business Act to revise requirements with respect to solicitation of offers for bundled contracts issued by the head of a federal agency that allows a small business to submit an offer (bid) that provides for the use of a particular team of subcontractors for the performance of the contract.
  • The small business may now also bid on a bundled or consolidated contract that provides for the use of a joint venture of small businesses.
  • Prognosis: 21% chance of being enacted

The following pieces of legislation in 2015 were found from http://www.GovTrack.us

Dates of introduction, sponsors, cosponsors, status quo, texts/summaries, a prognosis of the chance of being enacted, and other details, such as related bills, of the above bills can all be found using http://www.GovTrack.us.

Policy Implications

Bill Number	Title	Prognosis	Implications
S. 957 / H.R. 2499	Veterans Entrepreneurship Act	100%	Is an initiative created to direct the Administrator of the SBA to report on: 1) assessment of the current environment's ability to offer financial and psychological assistance to small business owners prior to their deployment 2) review the level of outreach to female veterans offered by the women's business center and veteran's business center 3) continued development of the Military Reservists Economic Injury Disaster loan program
H. R. 208	Superstorm Sandy Relief and Disaster Loan Program Improvement Act of 2015	100%	Is an initiative to provide small businesses affected by the Superstorm sandy disaster an opportunity to apply for a loan from the SBA to repair and rehabilitate or replace property damaged, it's principal objective is to help jumpstart small business affected by the storm and to ensure that they have the necessary financing to prevent subsequent disaster from destruction
H.R. 2262	U.S. Commercial Space Launch Competitiveness Act	100%
S. Res. 252	An original resolution expressing the sense of the Committee on Small Business and Entrepreneurship of the Senate relating to easing the burden of Federal tax compliance on small businesses	93%	This resolution amends IRS guidelines on the taxation of small companies
H. R. 9	Innovation Act	36%
H. R. 2670	Microloan Modernization Act of 2015	34%	The bill was created in hopes of encouraging microloan intermediaries to use a portion of SBA funds to assist their prospective/current borrowers with information gather and technological assistance
S.1870	A bill to amend the Small Business Act to require the Administrator of the Small Business Administration to carry out a pilot program on issuing grants to eligible veterans to start or acquire qualifying businesses, and for other purposes.	27%	Veterans Entrepreneurial Transition Act of 2015 or the VET Act of 2015 This bill amends the Small Business Act to direct the Small Business Administration to carry out a pilot program to assess the feasibility and advisability of making grants to eligible veterans to start or acquire a qualifying business enterprise.
S.1001	Small Business Lending Reauthorization Act 2015	25%	The authorized budget for 2016 was increased by 3B for the administrator to make/grant loans to small businesses
S. 1400 / H.R. 2221	Veterans Small Business Enhancement Act of 2015	24%	Directs the SBA to manage and be responsible for the allocation of US owned surplus property to small businesses controlled by vets, essentially directing a fair allocation of excess property to prospective veteran entrepreneurs
S. 2116	Small Business Broadband and Emerging Information Technology Enhancement Act of 2015	23%	In order to better assist small businesses this act proposes improvements to certain programs within the SBA in order to be up to speed on the current technologies to support small business owners ; broadband has the potential to streamline government processes, change how people collaborate and use educational resources and bring communities together and make improvements in public safety
S. 552 / H.R. 1023	Small Business Investment Capital Company Act of 2015	22%	Increases the amount of leverage that can be made available by the SBA towards two or more commonly controlled SB investment companies
S.958	Small Business Fairness Act	21%	Small businesses can bid on federal contracts that require JVs and the collaboration of multiple small businesses, contracts may be awarded to a small team of business providing that they have the expertise to complete the necessary work stipulated in the contract
S. 1470	Recovery Improvements for Small Entities After Disaster Act of 2015	21%
S. 1292	HUBZone Revitalization Act of 2015	21%
S. 2138	Small Business Subcontracting Transparency Act of 2015	21%
S. 1756	Small Business Energy Efficiency Act of 2015	18%
S. 2126	Women’s Small Business Ownership Act of 2015	17%	Re-authorizing the women's business center of the SBA and allocating around ~20M in funds. The act serves as a directive for the women's business center program to collaborate with SBA officials to ensure that women entrepreneurs are supported with access to capital, market insights, job creation opportunities, growth strategies, counseling and general training
S. 2136	Improving Small Business Innovative Research and Technologies Act of 2015	15%	The bill amends the small business act and requires that each associated federal agency conduct a small business innovation research program and use <=3% of allocated funds for the administration of its SBIR tech transfer, the initiative is designed to increase technology transfer and commercialization in the STTR program within the SBA
S. 1000	SCORE for Small Business Act of 2015	15%	Improve the score program within the SBA, a program that provides no cost assistance to individuals who own or aspire to own a small business. The act discusses specific improvements to rural, economically and traditionally underserved communities
H. R. 1806	America COMPETES Reauthorization Act of 2015	11%
S.999 / H.R. 207	Small Business Development Centers Improvement Act of 2015	9%	Amends the SBA act to allow the SBA to use certain internal programs to provide grants, financing, export assistance and contracting opportunities to specified small businesses, the programs are designed to deliver better entrepreneurial development services, entrepreneurial education and support the development of general business training
S.1546	Ensuring Small Businesses Can Export Act 2015	9%	Should the authority appointed by the Export-Import bank of the US lapse then the SBA should act to take its place. The bill also recommends that the SBA establish a program to provide insurance for exports of small businesses
S. 1866	Veterans Small Business Ownership Improvements Act of 2015	6%	Amends the small business act to require that it shall provide training to members of the armed forces, individuals who served on active duty and their spouses or dependents. Special programs specifically target at women and disabled populations are also be covered under the act. A veteran's business development center shall also be created to financially assist Veteran entrepreneurs
H. R. 3987	Jobs in America Act	3%	Amends the immigration and nationality act to establish an employment based, conditional visa for a sponsored alien entrepreneur providing the entrepreneur has 1) gained necessary financial backing from a VC 2)has engaged in commercial activities will generate required levels of employment, revenue and capital investment
H. R. 3997	To amend MAP-21 to establish a veterans business enterprises program, and for other purposes	3%
S. 2273	STARTUP Vets Act of 2015	2%	Requires the SBA to make 2 year renewable grants to create and operate incubators and accelerators that provide technological assistance and training to qualified individuals
S.963	Small Business Innovation Impact Act	2%	Requires the chief counsel for advocacy of the SBA to submit an analysis to specified congressional committees on investment, inventions, patents and university technology transfers to/of small businesses
H. R. 2868	Small Business Health Fairness Act of 2015	2%
H. R. 2060	United States-Mexico Economic Partnership Act	2%
H. R. 962	Startup Act	1%	Amends the immigration and nationality act to authorize homeland to adjust the permanent resident status of up to 50k aliens who have earned their masters or doctorate degree in a STEM related field. If the alien is searching for work in a STEM field the visa is granted for an additional year, if the alien remains actively engaged in a STEM field the visa is continued indefinitely, there are also various tax benefits afforded to certain startup businesses that meet a particular set of criterion
H. R. 253	Incentivize Growth Now In Tomorrow’s Entrepreneurs Act of 2015	1%	Creates tax exempt small business start-up accounts to pay for start-up expenses for a business that does not employ more than 50 employees
S. 996 / H.R.2266	Commercial Real Estate and Economic Development Act of 2015	1%
H. R. 3370	EB-JOBS Act of 2015	0%	Bill amends the Immigration and Nationality act to give conditional permanent residency visas to VC backed self-sponsored start up entrepreneurs providing that they have maintained alien status for at least 10 years and created full time for at least 5 US workers
H. R. 2310	Helping Our Middle-Class Entrepreneurs Act	0%	Amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business a standard tax deduction equal to the lesser of $1,500 or the taxpayer's gross trade or business income derived from the business use of such residence. Provides for an inflation adjustment to the standard deduction amount in calendar years beginning after 2015.
H. RES. 511	Expressing support for designation of the third Tuesday in November as “National Entrepreneurs’ Day”	0%
H.R. 616	American Entrepreneurship and Investment Act of 2015	0%