S.Amdt. 4485

1. Adds SEC. 1336. PATRIOT EXPRESS LOAN PROGRAM on page 102, line 21

   Adds a section

   Inserted: SEC. 1336. PATRIOT EXPRESS LOAN PROGRAM.

   Inserted: (a) Program.--

   Inserted: (1) In general.--Section 7(a)(31) of the Small Business Act (15 U.S.C. 636(a)(31)) is amended by adding at the end the following:

   Inserted: "(G) Patriot express loan program.--

   Inserted: "(i) Definition.--In this subparagraph, the term 'eligible member of the military community'--

   Inserted: "(I) means--

   Inserted: "(aa) a veteran, including a service-disabled veteran;

   Inserted: "(bb) a member of the Armed Forces on active duty who is eligible to participate in the Transition Assistance Program;

   Inserted: "(cc) a member of a reserve component of the Armed Forces;

   Inserted: "(dd) the spouse of an individual described in item (aa), (bb), or (cc) who is alive;

   Inserted: "(ee) the widowed spouse of a deceased veteran, member of the Armed Forces, or member of a reserve component of the Armed Forces who died because of a service-connected (as defined in section 101(16) of title 38, United States Code) disability; and

   Inserted: "(ff) the widowed spouse of a deceased member of the Armed Forces or member of a reserve component of the Armed Forces relating to whom the Department of Defense may provide for the recovery, care, and disposition of the remains of the individual under paragraph (1) or (2) of section 1481(a) of title 10, United States Code; and

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   Inserted: "(II) does not include an individual who was discharged or released from the active military, naval, or air service under dishonorable conditions.

   Inserted: "(ii) Loan guarantees.--The Administrator shall establish a Patriot Express Loan Program, under which the Administrator may guarantee loans under this paragraph made by express lenders to eligible members of the military community.

   Inserted: "(iii) Loan terms.--

   Inserted: "(I) In general.--Except as provided in this clause, a loan under this subparagraph shall be made on the same terms as other loans under the Express Loan Program.

   Inserted: "(II) Use of funds.--A loan guaranteed under this subparagraph may be used for any business purpose, including start-up or expansion costs, purchasing equipment, working capital, purchasing inventory, or purchasing business-occupied real-estate.

   Inserted: "(III) Maximum amount.--The Administrator may guarantee a loan under this subparagraph of not more than $1,000,000.

   Inserted: "(IV) Guarantee rate.--The guarantee rate for a loan under this subparagraph shall be the greater of--

   Inserted: "(aa) the rate otherwise applicable under paragraph (2)(A);

   Inserted: "(bb) 85 percent for a loan of not more than $500,000; and

   Inserted: "(cc) 80 percent for a loan of more than $500,000.".

   Inserted: (2) GAO report.--

   Inserted: (A) Definition.--In this paragraph, the term "programs" means--

   Inserted: (i) the Patriot Express Loan Program under section 7(a)(31)(G) of the Small Business Act, as added by paragraph (1); and

   Inserted: (ii) the increased veteran participation pilot program under section 7(a)(32) of the Small Business Act, as added by section 208 of the Military Reservist and Veteran Small Business Reauthorization and Opportunity Act of 2008 (Public Law 110-186; 122 Stat. 631), as in effect on the day before the date of enactment of this Act.

   Inserted: (B) Report requirement.--Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on the programs.

   Inserted: (C) Contents.--The report submitted under subparagraph (B) shall include--

   Inserted: (i) the number of loans made under the programs;

   Inserted: (ii) a description of the impact of the programs on members of the military community eligible to participate in the programs;

   Inserted: (iii) an evaluation of the efficacy of the programs;

   Inserted: (iv) an evaluation of the actual or potential fraud and abuse under the programs; and

   Inserted: (v) recommendations for improving the Patriot Express Loan Program under section 7(a)(31)(G) of the Small Business Act, as added by paragraph (1).

   Inserted: (b) Fee Reduction.--

   Inserted: (1) In general.--Section 7(a)(18) of the Small Business Act (15 U.S.C. 636(a)(18)) is amended--

   Inserted: (A) in subparagraph (A), in the matter preceding clause (i), by striking "With respect to" and inserting "Except as provided in subparagraph (C), with respect to"; and

   Inserted: (B) by adding at the end the following:

   Inserted: "(C) Military community.--For an eligible member of the military community (as defined in paragraph (31)(G)(i)), the fee for a loan guaranteed under this subsection, except for a loan guaranteed under subparagraph (G) of paragraph (31), shall be equal to 75 percent of the fee otherwise applicable to the loan under subparagraph (A).".

   Inserted: (2) Conforming amendment to temporary fee reduction.--Section 501(a)(2) of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 Stat. 151) is amended by striking "section 7(a)(18)(A) of the Small Business Act (15 U.S.C. 636(a)(18)(A))" and inserting "subparagraph (A) or (C) of section 7(a)(18) of the Small Business Act (15 U.S.C. 636(a)(18))".

   Inserted: (c) Technical and Conforming Amendments.--

   Inserted: (1) In general.--Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended--

   Inserted: (A) by striking paragraph (33), as redesignated by section 1133 of this Act;

   Inserted: (B) by redesignating paragraph (34), as added by section 1133 of this Act, as paragraph (33); and

   Inserted: (C) by redesignating paragraph (35), as added by section 1206 of this Act, as paragraph (34).

   Inserted: (2) Sunset.--Notwithstanding section 1133(b) of this Act, effective September 30, 2013, section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended--

   Inserted: (A) by striking paragraph (33), as so redesignated by paragraph (1)(B) of this subsection; and

   Inserted: (B) by redesignating paragraph (34), as so redesignated by paragraph (1)(C) of this subsection, as paragraph (33).

   Original wording

   On page 102, after line 21, add the following:

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As printed