US Congress House Bill 294 (Prior Session Legislation)

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September 24 2009 - Subcommittee Hearings Held.
Text: Latest bill text (Introduced) [PDF]

Veteran-Owned Small Business Promotion Act of 2009 - Reinstates (under current law, terminated as of the end of FY1986) the veteran-owned small business loan program, under which the Secretary of Veterans Affairs may provide loans to veteran-owned small businesses for: (1) financing plant construction, conversion, or expansion; (2) financing the acquisition of equipment, facilities, machinery, supplies, or materials; or (3) supplying working capital. Makes eligible for such loans small business owners who are veterans and have a disability rated at 10% (under current law, 30%) or more, and includes all veterans (under current law, limited to Vietnam era veterans and veterans discharged or released due to a disability incurred or aggravated in the line of duty). Repeals the authority to make direct loans under the program (thereby allowing only loan guaranties). Increases from $200,000 to $500,000 the maximum loan guaranty amount. Authorizes the Secretary to subsidize a loan lender in order to reduce by up to 1/2% the interest rate paid by the veteran-owned small business. Includes under a loan preference members of the National Guard and reserves activated in support of the Global War on Terrorism. Limits performance bond requirements of veteran-owned small businesses with respect to the construction, alteration, or repair of any Department of Veterans Affairs (VA) public building or public work. Treats a small business owned and controlled by veterans as a socially and economically disadvantaged small business for purposes of contracts awarded to the latter businesses under provisions of the Small Business Act.

Veteran-Owned Small Business Promotion Act of 2009

Rep Carson, Andre	Rep Bilbray, Brian P.	Rep Brown, Henry E., Jr.	Rep Buyer, Steve
Rep Carter, John R.	Rep Cassidy, Bill	Rep Poe, Ted	Rep Rooney, Thomas J.
Rep Wilson, Joe	Rep McCotter, Thaddeus G.	Rep Latta, Robert E.	Rep Boozman, John
Rep Nye, Glenn C., III	Rep Murphy, Tim	Rep Blackburn, Marsha	Rep Brown-Waite, Ginny
Rep Buchanan, Vern	Rep Marchant, Kenny	Rep Miller, Jeff	Rep Bilirakis, Gus M.
Rep Nye, Glenn C.

Date	Chamber	Action
2009-09-24		Subcommittee Hearings Held.
2009-01-09		Referred to the Subcommittee on Economic Opportunity.
2009-01-08		Referred to the House Committee on Veterans' Affairs.
2009-01-08		Sponsor introductory remarks on measure. (CR E45-46)

Type	Source
Summary	http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HN00294:@@@L&summ2=m&
Text	http://gpo.gov/fdsys/pkg/BILLS-111hr294ih/pdf/BILLS-111hr294ih.pdf