House Cmte OK’s Small Biz BillsMarch 15, 2018
On Wednesday, March 14, the House Committee on Small Business marked-up a series of bipartisan bills to amend the Small Business Act and the Small Business Investment Act. During the mark-up, the Committee approved the following six bills.
- The Small Business 7(a) Lending Oversight Reform Act of 2018 (R. 4743) – Bipartisan legislation to enhance and increase the Small Business Administration’s (SBA) oversight authority over the 7(a) loan program, and eliminates the hard cap of budget authority by allowing SBA to exceed congressionally mandated limits by 15 percent.
- Puerto Rico Small Business Contracting Assistance Act of 2018 (R. 5178) – Legislation to enhance contracting opportunities for Puerto Rico businesses by allowing contracts to small businesses located in Puerto Rico to be counted double toward any contracting goals.
- The Small Business Development Center Cyber Training Act of 2017 (R. 3170) – Legislation requiring the SBA to establish a cyber counseling certification program for Small Business Development Centers (SBDCs), and require certain SBDC employees to have cyber certifications.
- The Small Business Advanced Cybersecurity Enhancements Act of 2017 (R. 4668) – Legislation requiring the SBA to develop a dedicated, centralized small business cybersecurity assistance unit and regional cybersecurity assistance units through the SBDCs which will serve as the primary interface for small businesses to receive and share cyber threat indicators and defensive measures with the Federal Government.
- Small Business Innovation Protection Act (R. 2655) – Legislation requiring the SBA to partner with the U.S. Patent and Trade Office to develop intellectual property protection training both online and available at SBDCs.
- Main Street Employee Ownership Act of 2018 (R. 5236) – Legislation to expand SBA loan opportunities available to employee-owned businesses.