US Congress House Bill 294 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 18-3)
Status: Introduced on January 8 2009 - 25% progression, died in chamber
Action: 2009-09-24 - 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. Brian Bilbray [R-CA]	Rep. Gus Bilirakis [R-FL]	Sen. Marsha Blackburn [R-TN]	Sen. John Boozman [R-AR]
Rep. Henry Brown [R-SC]	Rep. Ginny Brown-Waite [R-FL]	Rep. Vern Buchanan [R-FL]	Rep. Steve Buyer [R-IN]
Rep. Andre Carson [D-IN]	Rep. John Carter [R-TX]	Sen. Bill Cassidy [R-LA]	Rep. Robert Latta [R-OH]
Rep. Kenny Marchant [R-TX]	Rep. Thaddeus McCotter [R-MI]	Rep. Jeff Miller [R-FL]	Rep. Tim Murphy [R-PA]
Rep. Glenn Nye [D-VA]	Rep. Glenn Nye [D-VA]	Rep. Ted Poe [R-TX]	Rep. Thomas Rooney [R-FL]
Rep. Joe Wilson [R-SC]

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	https://www.congress.gov/bill/111th-congress/house-bill/294/all-info
Text	https://www.congress.gov/111/bills/hr294/BILLS-111hr294ih.pdf