[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2384 Introduced in Senate (IS)]
108th CONGRESS
2d Session
S. 2384
To amend the Small Business Act to permit business concerns that are
owned by venture capital operating companies or pension plans to
participate in the Small Business Innovation Research Program.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 5, 2004
Mr. Bond (for himself, Ms. Snowe, and Mr. Kennedy) introduced the
following bill; which was read twice and referred to the Committee on
Small Business and Entrepreneurship
_______________________________________________________________________
A BILL
To amend the Small Business Act to permit business concerns that are
owned by venture capital operating companies or pension plans to
participate in the Small Business Innovation Research Program.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SBIR AWARDS TO BUSINESS CONCERNS OWNED BY VENTURE CAPITAL
OPERATING COMPANIES OR EMPLOYEE BENEFIT OR PENSION PLANS.
(a) In General.--Section 9(f) of the Small Business Act (15 U.S.C.
638(f)) is amended by adding at the end the following:
``(4) Eligibility.--A business concern shall not be
prevented from participating in the Small Business Innovation
Research Program solely because such business concern is owned
in part by--
``(A) a venture capital operating company that is
managed and controlled by 1 or more United States
citizens or permanent resident aliens; or
``(B) an employee benefit or pension plan.''.
(b) Rulemaking Authority.--Not later than 180 days after the date
of enactment of this Act, the Administrator of the Small Business
Administration shall issue regulations to--
(1) carry out the amendment made by subsection (a);
(2) ensure that a Small Business Innovation Research award
is not given to a business concern that is majority owned by--
(A) another business concern that is ineligible to
participate in the Small Business Innovation Research
Program; or
(B) a venture capital operating company or an
employee benefit or pension plan that is the alter ego,
instrumentality, or identity of another business
concern that is ineligible to participate in the Small
Business Innovation Research Program.
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