Summary: SBIR/STTR Reauthorization Act - Title I: Modernizing the SBIR and STTR Programs - (Sec. 101) Amends the Small Business Act to extend through FY2010 (currently scheduled to expire at the end of FY2008) the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs of the Small Business Administration (SBA). (Sec. 102) Increases, for both the SBIR and STTR programs, the individual small business award levels from: (1) $100,000 to $300,000, for participation at a Phase One level; and (2) $750,000 to $2.2 million, for participation at a Phase Two level. Allows participating federal agencies (agencies) to exceed such award levels if such agencies notify, and provide annual reports concerning such increase to, the congressional small business committees. (Sec. 103) Directs each federal agency that is required to conduct an SBIR program and that annually administers $50 million or more in SBIR grants to have an SBIR advisory board. Outlines advisory board duties and requirements, including an annual program report to the small business committees. (Sec. 104) Increases technical assistance funding for Phase One awardees and Phase Two grantees. Includes under authorized technical assistance assistance in implementing manufacturing processes and production strategies. Allows Phase One grantees to opt-out of the agency's technical assistance in favor of a payment of up to $2,500, to be used to purchase such assistance. Requires agencies to select technical assistance vendors for a term not to exceed three years. (Sec. 105) Requires each agency to conduct at least two rounds of SBIR research solicitations per year, and to render a final decision on each proposal within 90 days after the solicitation closes (with an authorized extension to 180 days on a case-by-case basis). (Sec. 106) Includes energy-related and rare disease-related research topics as "special consideration" SBIR research topics. (Sec. 107) Requires the SBA Administrator to submit annually to the small business committees a list of small businesses that, during the previous five-year period, received 15 or more Phase One awards and no Phase Two awards. (Sec. 108) Requires each agency to engage with SBIR awardees that have been awarded multiple Phase One awards but no Phase Two awards, and to develop performance metrics to measure awardee progress in the SBIR program. (Sec. 109) Allows a small business that receives an: (1) SBIR award from one agency to receive an award for a subsequent phase from another agency, as long as the head of each agency certifies that the topics of the relevant awards are the same; and (2) award under either the SBIR or STTR program to receive an award for a subsequent phase under either program. (Sec. 110) Requires the Comptroller General to carry out, and report to the small business committees on, an audit of agency calculations of SBIR and STTR extramural research budgets. (Sec. 111) Requires that, whenever an entity applies for but does not receive a research and development (R&D) award under an SBIR or STTR program, the federal agency conducting the program shall: (1) notify the entity that it can request an explanation of why it did not receive the award; and (2) if requested, provide such explanation. Title II: Venture Capital Investment Standards - (Sec. 201) Provides that, effective only for the SBIR and STTR programs: (1) a business concern that has more than 500 employees shall not qualify as a small business concern; (2) in determining whether a small business concern is independently owned and operated, the SBA Administrator shall not consider a business concern to be affiliated with a venture capital operating company if the venture capital operating company (VCOC) does not own 50% or more of the business concern and employees of the VCOC do not constitute a majority of the board of directors of the business concern; and (3) a business concern shall be deemed to be independently owned and operated if it is owned in majority part by one or more natural persons or VCOCs, there is no single VCOC that owns 50% or more of the business concern, and there is no single VCOC the employees of which constitute a majority of the board of directors of the business concern. States that, if a VCOC controlled by a business with more than 500 employees has an ownership interest in a small business owned in majority by VCOCs, that small business is eligible to receive an SBIR or STTR award only if: (1) not more than two of such VCOCs have an ownership interest in the small business; (2) such VCOCs do not collectively own more than 20% of the small business; and (3) such VCOCs do not collaborate to exercise more control over the small business than they could exercise individually. Title III: SBIR and Economic Development - (Sec. 301) Directs the Administrator to make two-year grants to organizations to: (1) conduct SBIR outreach efforts to increase small business participation; and (2) provide application support and entrepreneurial and business skills support to prospective participants. Provides assistance limits. Requires organizations receiving grants to direct activities towards small business concerns located in underrepresented geographic areas and/or small business concerns owned and controlled by women, small business concerns owned and controlled by service-disabled veterans, and small business concerns owned and controlled by minorities. Requires the Administrator to establish an advisory board to: (1) assist with such activities; and (2) report annually to the small business committees. Provides per-state limits on grant awards, with specific requirements for awards under the SBA's FAST (Federal and State Technology Partnership) program. (Sec. 302) Requires each agency to receive an SBIR applicant's consent to the release of contact information to economic development organizations. Title IV: Advancing Commercialization of SBIR-Funded Research - (Sec. 401) Revises the definition of "Phase Three" of the SBIR program. Defines "commercialization" as the process of developing marketable products or services and producing and delivering products or services for sale (whether by the originating party or by others) to government or commercial markets. (Sec. 402) Requires agencies to establish annual goals for: (1) the percentage of SBIR projects that receive Phase Three funds; (2) the percentage of SBIR projects that are integrated into a program of record; and (3) the amount of non-SBIR federal funds received by SBIR projects through federal contracts. Directs each agency to submit annually to its advisory board information on the extent to which such goals were met. (Sec. 403) Requires the Administrator to issue directives to ensure that: (1) a small business that receives a Phase Two award for an SBIR project remains eligible to receive additional Phase Two awards; and (2) agencies are expressly authorized to provide additional Phase Two awards for testing and evaluation assistance for the insertion of SBIR technologies into technical or weapons systems. (Sec. 404) Directs each agency to establish initiatives to encourage partnerships between SBIR awardees and prime contractors, venture capital investment companies, business incubators, and larger businesses in order to facilitate the progression of SBIR awardees to Phase Three. (Sec. 405) Authorizes agencies to develop fast-track programs to eliminate funding delays by issuing Phase Two SBIR awards as soon as practicable, including simultaneously with the issuance of the Phase One award. (Sec. 406) Requires each agency to establish a commercialization program that supports the progression of SBIR awardees to Phase Three. Requires commercialization program information to be included in each agency and advisory board's annual report. Authorizes appropriations. Directs the Administrator, from amounts authorized under this section, to establish and carry out a pilot program of grants to minority institutions that partner with nonprofit organizations in order to increase the number of SBIR and STTR program applications by minority-owned small businesses. Requires matching non-federal funds for pilot program participation. (Sec. 407) Requires each agency's advisory board to include in annual report requirements information on efforts to enhance manufacturing activities. Title V: Supporting Program Utilization - (Sec. 501) Requires: (1) SBIR and STTR small business participants to provide updated project information for purposes of updating agency databases which evaluate the outcome of Phase One and Two awards; and (2) participating agencies to develop and maintain such databases. (Sec. 502) Requires each agency to create and maintain a technology utilization database, available to the public, containing data supplied by award recipients. (Sec. 503) Requires: (1) the Director of the Office of Science and Technology Policy to establish an Interagency SBIR/STTR Policy Committee; and (2) specified Committee reports to the small business committees. (Sec. 504) Adds nanotechnology-related research to the SBIR list of research topics deserving special consideration. (Sec. 505) Requires agencies to give a priority to SBIR and STTR award applications submitted by rural companies. (Sec. 506) Requires federal agencies, in making R&D awards to small businesses under the SBIR and STTR programs, to give a priority to: (1) businesses located in areas that have lost a major source of employment; (2) veterans; and (3) organizations that are making significant contributions toward energy efficiency. Title VI: Implementation - (Sec. 601) Directs the Administrator to promulgate amendments to SBIR and STTR policy directives to conform such directives to this Act and its amendments. (Sec. 602) Amends the Small Business Reauthorization Act of 2000 to remove the requirement that the National Research Council provide an updated report on the SBIR program. (Sec. 603) Requires SBIR awardees to have their primary business operations in the United States. (Sec. 604) Prohibits SBIR or STTR R&D awards to small businesses with ownership interests by unlawful aliens. (Sec. 605) Prohibits any future SBIR or STTR R&D awards to applicants found to have engaged in a pattern or practice of hiring, recruiting, or referring for employment in the United States an unauthorized alien.

sec amends small_business_act extend fy2010 currently scheduled expire end fy2008 small_business_innovation_research sbir small_business_technology_transfer sttr programs small_business_administration sba sec increases sbir sttr programs individual small business award levels participation phase level million participation phase level allows participating federal agencies agencies exceed award levels agencies notify provide annual reports concerning increase congressional small business committees sec directs federal agency required conduct sbir program annually administers million sbir grants sbir advisory board outlines advisory board duties requirements including annual program report small business committees sec increases technical assistance funding phase awardees phase grantees includes authorized technical assistance assistance implementing manufacturing processes production strategies allows phase grantees opt agency technical assistance favor payment purchase assistance requires agencies select technical assistance vendors term exceed years sec requires agency conduct rounds sbir research solicitations year render final decision proposal days solicitation closes authorized extension days case case basis sec includes energy related rare disease related research topics special consideration sbir research topics sec requires sba administrator submit annually small business committees list small businesses previous year period received phase awards phase awards sec requires agency engage sbir awardees awarded multiple phase awards phase awards develop performance metrics measure awardee progress sbir program sec allows small business receives sbir award agency receive award subsequent phase agency long head agency certifies topics relevant awards award sbir sttr program receive award subsequent phase program sec requires comptroller general carry report small business committees audit agency calculations sbir sttr extramural research budgets sec requires entity applies receive research development award sbir sttr program federal agency conducting program shall notify entity request explanation receive award requested provide explanation title sec provides effective sbir sttr programs business concern employees shall qualify small business concern determining small business concern independently owned operated sba administrator shall consider business concern affiliated venture capital operating company venture capital operating company business concern employees constitute majority board directors business concern business concern shall deemed independently owned operated owned majority natural persons single owns business concern single employees constitute majority board directors business concern states controlled business employees ownership interest small business owned majority small business eligible receive sbir sttr award ownership interest small business collectively small business collaborate exercise control small business exercise individually title iii sec directs administrator year grants organizations conduct sbir outreach efforts increase small business participation provide application support entrepreneurial business skills support prospective participants provides assistance limits requires organizations receiving grants direct activities small business concerns located underrepresented geographic areas small business concerns owned controlled women small business concerns owned controlled service disabled veterans small business concerns owned controlled minorities requires administrator establish advisory board assist activities report annually small business committees provides state limits grant awards specific requirements awards sba fast federal_and_state_technology_partnership program sec requires agency receive sbir applicant consent release contact information economic development organizations title advancing commercialization sbir funded research sec revises definition phase sbir program defines commercialization process developing marketable products services producing delivering products services sale originating party government commercial markets sec requires agencies establish annual goals percentage sbir projects receive phase funds percentage sbir projects integrated program record non sbir federal funds received sbir projects federal contracts directs agency submit annually advisory board information extent goals met sec requires administrator issue directives ensure small business receives phase award sbir project remains eligible receive additional phase awards agencies expressly authorized provide additional phase awards testing evaluation assistance sbir technologies technical weapons systems sec directs agency establish initiatives encourage partnerships sbir awardees prime contractors venture capital investment companies business incubators larger businesses order facilitate progression sbir awardees phase sec authorizes agencies develop fast track programs eliminate funding delays issuing phase sbir awards soon practicable including simultaneously issuance phase award sec requires agency establish commercialization program supports progression sbir awardees phase requires commercialization program information included agency advisory board annual report authorizes appropriations directs administrator amounts authorized section establish carry pilot program grants minority institutions partner nonprofit organizations order increase number sbir sttr program applications minority owned small businesses requires matching non federal funds pilot program participation sec requires agency advisory board include annual report requirements information efforts enhance manufacturing activities title supporting program utilization sec requires sbir sttr small business participants provide updated project information purposes updating agency databases evaluate outcome phase awards participating agencies develop maintain databases sec requires agency create maintain technology utilization database available public containing data supplied award recipients sec requires director office_of_science_and_technology_policy establish interagency sbir sttr policy committee specified committee reports small business committees sec adds nanotechnology related research sbir list research topics special consideration sec requires agencies priority sbir sttr award applications submitted rural companies sec requires federal agencies making awards small businesses sbir sttr programs priority businesses located areas lost major source employment veterans organizations making significant contributions energy efficiency title implementation sec directs administrator promulgate amendments sbir sttr policy directives conform directives act amendments sec amends small_business_reauthorization_act remove requirement national_research_council provide updated report sbir program sec requires sbir awardees primary business operations united_states sec sttr awards small businesses ownership interests unlawful aliens sec prohibits future sbir sttr awards applicants found engaged pattern practice hiring recruiting referring employment united_states unauthorized alien


Summary: HUBZone Equity for Distressed Communities Act - Amends Small Business Act provisions relating to HUBZones (historically underutilized business zones) to define "qualified suburban area" as any village, city, town, or economic development area governed by a public authority, district, or other unit of general local government, located in a county that includes, or is located in, a metropolitan statistical area and that meets certain low income or high unemployment qualifications.

hubzone equity distressed communities act amends small business act provisions relating hubzones historically underutilized business zones define qualified suburban area village city town economic development area governed public authority district unit general local government located county includes located metropolitan statistical area meets certain low income high unemployment qualifications


Summary: Small Business Regulatory Equity Act of 2008 - Directs the Comptroller General of the United States to report to Congress on the Comptroller General's analysis of the impacts of federal regulations on businesses with 15 or fewer, 16 to 35, and 36 to 50 employees. Requires the report to detail the cost and impacts of federally mandated, state-administered regulations, the time such businesses must spend working with agencies attempting to obtain written responses to their written questions, the time that passes between submitting such questions and receiving responses, how long projects are delayed by federal regulations, and how long it takes small business to obtain permits from federal agencies. Requires the report to cover, and treat separately, direct impacts such as wages, time, and fees spent on compliance and indirect impacts such as cash flow, sales, and competitiveness.

small business regulatory equity act directs comptroller general united_states report congress comptroller general analysis impacts federal regulations businesses fewer employees requires report detail cost impacts federally mandated state administered regulations time businesses spend working agencies attempting obtain written responses written questions time passes submitting questions receiving responses long projects delayed federal regulations long takes small business obtain permits federal agencies requires report cover treat separately direct impacts wages time fees spent compliance indirect impacts cash flow sales competitiveness


Summary: Small Business Information Security Act of 2008 - Directs the Administrator of the Small Business Administration (SBA) to establish the Small Business Information Security Task Force to address the information technology security needs of small businesses. Requires the Task Force, among other duties, to make recommendations to the Administrator on the establishment of an Internet website to be used by the SBA to receive and dispense information and resources with respect to such needs.

security act directs administrator small_business_administration sba establish address information technology security needs small businesses requires task force duties recommendations administrator establishment internet website sba receive dispense information resources respect needs


Summary: Improving Veterans' Opportunity in Education and Business Act of 2008 - Requires that, if the Secretary of Veterans Affairs enters into a contract or other arrangement, on or after June 1, 2007, to acquire goods or services (or both), the Secretary shall include in such contract or arrangement a requirement that the contractee comply with Department of Veterans Affairs (VA) contracting goals and preferences with respect to small businesses owned and controlled by veterans and service-disabled veterans. Directs the Secretary to modify current contracts and arrangements to comply with requirements of this Act. Requires the Secretary to conduct a five-year pilot project to test the feasibility and advisability of expanding the scope of VA workstudy activities to include workstudy positions available on site at educational institutions, including positions in academic departments and in student services. Authorizes appropriations. Directs the Secretary to carry out a program of job training in skills relevant to the job market for discharged veterans who are either currently not paid at more than 150% of the federal minimum wage, or: (1) had a military occupational specialty of limited transferability to the civilian job market; (2) are not otherwise eligible for veterans' education or training services; (3) have not acquired a marketable skill since leaving military service; (4) were discharged under conditions not less than honorable; and (5) have been unemployed for at least 90 of the previous 180 days. Designates the program as the MOST (military occupational specialty transition) Program. Directs the Secretary to contract with employers to provide programs of apprenticeship on on-job training for such veterans. Limits such payments to $20,000 per veteran and 24 months in duration. Requires quarterly employer reports certifying wages paid to such veterans. Authorizes appropriations. Requires the Secretary to describe Program activities within a currently-required annual report by the Veterans Benefits Administration.

improving veterans opportunity education business act requires secretary veterans_affairs enters contract arrangement june acquire goods services secretary shall include contract arrangement requirement comply department_of_veterans_affairs contracting goals preferences respect small businesses owned controlled veterans service disabled veterans directs secretary modify current contracts arrangements comply requirements act requires secretary conduct year pilot project test feasibility advisability expanding scope activities include positions available site educational institutions including positions academic departments student services authorizes appropriations directs secretary carry program job training skills relevant job market discharged veterans currently paid federal minimum wage military occupational specialty limited transferability civilian job market eligible veterans education training services acquired marketable skill leaving military service discharged conditions honorable unemployed previous days designates program military occupational specialty transition program directs secretary contract employers provide programs apprenticeship job training veterans limits payments veteran months duration requires quarterly employer reports certifying wages paid veterans authorizes appropriations requires secretary describe program activities currently required annual report veterans_benefits_administration


Summary: Invest in Small Business Act of 2008 - Amends the Internal Revenue Code to: (1) increase the exclusion from gross income of the gain from the sale or exchange of qualified small business stock from 50 to 100% of such gain and reduce the holding period for such stock from five to three years; (2) disqualify stock held by members of a 25% controlled group of corporations for such tax exclusion; (3) repeal gain from the sale or exchange of qualified small business stock as an item of tax preference for purposes of the alternative minimum tax; (4) repeal the maximum 28% tax rate on gain from the sale or exchange of qualified small business stock; and (5) increase to $100 million (adjusted for inflation after 2009) the aggregate asset limitation for determining eligibility of the stock of corporations for qualified small business stock tax treatment.

invest small business act amends internal revenue code increase exclusion gross income gain sale exchange qualified small business stock gain reduce holding period stock years disqualify stock held members controlled group corporations tax exclusion repeal gain sale exchange qualified small business stock item tax preference purposes alternative minimum tax repeal maximum tax rate gain sale exchange qualified small business stock increase million adjusted inflation aggregate asset limitation determining eligibility stock corporations qualified small business stock tax treatment


Summary: Small Business Cooperative for Healthcare Options to Improve Coverage for Employees (CHOICE) Act of 2008 or the Small Business CHOICE Act of 2008 - Provides for the establishment and governance of Fully Funded Small Business Health Insurance cooperatives, which are small businesses that form a captive insurance company chartered in a qualified state to provide excess claims coverage insurance that meets certain qualifications to its members.Directs the Secretary of the Treasury to establish an independent commission on Fully Funded Small Business Health Insurance Cooperatives to: (1) promote the development of such cooperatives; (2) make recommendations to the Secretary regarding minimum capital requirements; and (3) conduct oversight of such cooperatives.Exempts such cooperatives from certain state laws, rules, regulations, or orders, including any that would: (1) prohibit the establishment of a cooperative; (2) impose any material requirements, procedures, or standards on a cooperative that are not generally applicable to other entities engaged in a substantially similar business; or (3) discriminate against a cooperative or any of its members. Preempts any state law that conflicts with, hinders, poses an obstacle to, or frustrates the purpose of this Act.Sets forth provisions governing the provision of claims information, including protected health information, from health insurance issuers to cooperatives.Amends the Internal Revenue Code to establish the small business CHOICE tax credit for small employers for costs related to providing qualified employer-subsidized health coverage for employees and their families. Disallows such a credit unless the employee offers a qualified small business wellness program to covered employees and family members.

small business cooperative choice act choice act provides establishment governance cooperatives small businesses form captive insurance company chartered qualified state provide excess claims coverage insurance meets certain qualifications members directs secretary treasury establish independent commission promote development cooperatives recommendations secretary minimum capital requirements conduct oversight cooperatives exempts cooperatives certain state laws rules regulations orders including prohibit establishment cooperative impose material requirements procedures standards cooperative generally applicable entities engaged substantially similar business discriminate cooperative members preempts state law conflicts poses purpose act sets forth provisions governing provision claims information including protected health information health insurance issuers cooperatives amends internal revenue code establish small business choice tax credit small employers costs related providing qualified employer subsidized health coverage employees families disallows credit employee offers qualified small business wellness program covered employees family members


Summary: Small Business Tax Modernization Act of 2008 - Amends Internal Revenue Code provisions affecting small business taxpayers to: (1) allow an alternative standard tax deduction for the business use of a personal residence and establish a de minimis standard for determining personal use; (2) repeal restrictions on the depreciation deduction for cellular telephones and similar telecommunications equipment; (3) allow nonresident aliens to be S corporation shareholders; (4) increase the limit on the tax deduction for business meals and entertainment expenses; and (5) allow accelerated depreciation for energy-efficient heating, ventilation, air conditioning, or commercial refrigeration systems installed in nonresidential and residential rental buildings before January 1, 2012.

amends internal revenue code provisions affecting small business taxpayers allow alternative standard tax deduction business use personal residence establish minimis standard determining personal use repeal restrictions depreciation deduction cellular telephones similar telecommunications equipment allow nonresident aliens corporation shareholders increase limit tax deduction business meals entertainment expenses allow accelerated depreciation energy efficient heating ventilation air conditioning commercial refrigeration systems installed nonresidential residential rental buildings january


Summary: Small Business Technology Improvement Act of 2008 - Amends the Internal Revenue Code to allow accelerated depreciation of computer or peripheral equipment placed in service by a small business with annual gross receipts not in excess of $7 million.

amends internal revenue code allow accelerated depreciation computer peripheral equipment placed service small business annual gross receipts excess million


Summary: Amends the Small Business Act to authorize the Small Business Administration (SBA) to make disaster loans to assist eligible small businesses that have suffered or are likely to suffer substantial economic injury as the result of increases in the price of gasoline or diesel fuel. Makes eligible for such loans small businesses engaged in the transportation of persons or property for hire. Limits loan amounts to $250,000, with an authorized waiver by the SBA. States that, for purposes of such assistance, no declaration of a disaster area is required.

amends small_business_act authorize small_business_administration sba disaster loans assist eligible small businesses suffered likely suffer substantial economic injury result increases price gasoline diesel fuel makes eligible loans small businesses engaged transportation persons property hire limits loan amounts authorized waiver sba states purposes assistance declaration disaster area required


Summary: Small Business Financing Improvements Act of 2008 - Title I: 7(a) Loan Program - (Sec. 101) Amends the Small Business Act to require trust certificates representing all or a portion of one or more small business loans guaranteed by the Small Business Administration (SBA) to be based on and backed by a trust or pool approved by the SBA Administrator and composed solely of the guaranteed portion of such loan(s). Makes the interest rate on such certificates either: (1) the lowest rate on any loan in the pool; or (2) the weighted average rate of all the pooled loans. (Sec. 102) Directs the SBA to establish an optional loan size standard applicable to both 7(a) (SBA-guaranteed general business loans) borrowers and 504 (loans to small businesses funded by the SBA through certified development companies) borrowers, using net worth and average net income as loan size standards in lieu of industry standards. Title II: 504 CDC Program - (Sec. 201) Provides definitions of "development company," "certified development company," and "rural area" under the Small Business Investment Act of 1958. (Sec. 202) Provides criteria required before a development company may issue debentures for the financing of SBA-backed loans (and thereby be considered a certified development company, or CDC), including: (1) size (fewer than 500 employees, with an exception); (2) primary purpose and function; (3) nonprofit status; (4) good standing in the state in which it conducts business; (4) membership, board of directors, and professional management and staff; (5) area of operations; and (6) use of proceeds. Provides ethical requirements, including prohibited conflicts of interest in approved loans under the Certified Development Company Economic Development Loan Program. (Sec. 204) Adds as an eligible purpose (public policy goal) of the SBA's development company loan program the expansion of businesses in low-income communities that would be eligible for new market tax credit investments under the Internal Revenue Code. (Sec. 205) Allows a small business or corporation owned by more than one individual to qualify as minority-owned or veteran-owned for purposes of qualifying for a public policy goal loan if 51% or more of the business interest belongs to one or more individuals who are a minority or a veteran. (Sec. 206) Allows CDC loan financing to include a limited amount of refinancing for debt not previously guaranteed by the SBA, if the project involves expansion of a small business which has existing indebtedness collateralized by fixed assets. (Sec. 207) Allows small business borrowers using SBA loans for plant acquisition, construction, conversion, and expansion to contribute more equity to a project funded partially through a CDC, and to use the excess equity to reduce the amount of the non-CDC-funded portion of the loan. (Sec. 208) Requires a CDC which elects not to foreclose and liquidate defaulted loans, or is determined ineligible to do so, to contract with a third party to carry out such foreclosures and liquidations. Provides for SBA reimbursement of such expenses. (Sec. 209) Allows CDC borrowers to include administrative and closing costs (except attorney fees) within their loan amounts. (Sec. 210) Authorizes a small business whose CDC or 7(a) loan includes the acquisition of a facility or construction of a new facility to lease up to 50% of the space in such facility. Title III: Small Business Investment Company Program - (Sec. 301) Revises the maximum amount of outstanding leverage made available to: (1) any single company licensed under the Small Business Investment Company (SBIC) Program; and (2) two or more such companies that are commonly controlled and not under capital impairment. (Sec. 302) Revises an SBIC company's maximum aggregate investment limit in a single business.

small business financing improvements act title sec amends small_business_act require trust certificates representing portion small business loans guaranteed small_business_administration sba based backed trust pool approved sba administrator composed solely guaranteed portion makes interest rate certificates lowest rate loan pool weighted average rate pooled loans sec directs sba establish optional loan size standard applicable sba guaranteed general business loans borrowers loans small businesses funded sba certified development companies borrowers net worth average net income loan size standards lieu industry standards title cdc program sec provides definitions development company certified development company rural area small_business_investment_act sec provides criteria required development company issue debentures financing sba backed loans considered certified development company cdc including size fewer employees exception primary purpose function nonprofit status good standing state conducts business membership board directors professional management staff area operations use proceeds provides ethical requirements including prohibited conflicts interest approved loans sec adds eligible purpose public policy goal sba development company loan program expansion businesses low income communities eligible new market tax credit investments internal revenue code sec allows small business corporation owned individual qualify minority owned veteran owned purposes qualifying public policy goal loan business interest belongs individuals minority veteran sec allows cdc loan financing include limited refinancing debt previously guaranteed sba project involves expansion small business existing indebtedness collateralized fixed assets sec allows small business borrowers sba loans plant acquisition construction conversion expansion contribute equity project funded partially cdc use excess equity reduce non cdc funded portion loan sec requires cdc elects foreclose liquidate defaulted loans determined ineligible contract party carry foreclosures provides sba reimbursement expenses sec allows cdc borrowers include administrative closing costs attorney fees loan amounts sec authorizes small business cdc loan includes acquisition facility construction new facility lease space facility title iii sec revises maximum outstanding leverage available single company licensed companies commonly controlled capital impairment sec revises sbic company maximum aggregate investment limit single business


Summary: Small Business Start-Up Support Act of 2008 - Amends the Internal Revenue Code to increase from $5,000 to $10,000 the dollar amount of the tax deduction for trade or business start-up expenditures.

small business start support act amends internal revenue code increase dollar tax deduction trade business start expenditures


Summary: Minority Entrepreneurship Development Act of 2007 - Amends the Small Business Act to establish within the Small Business Administration (SBA) an Office of Minority Small Business Development to, among other things, formulate, execute, and promote SBA policies and programs that provide assistance to small businesses owned and controlled by minorities. Authorizes the SBA Administrator to make grants to eligible educational institutions: (1) to assist in establishing an entrepreneurship curriculum for undergraduate or graduate studies; and (2) for the placement of a small business development center on the campus of the institution. Authorizes the Administrator to make grants to eligible associations and organizations to: (1) assist in establishing the technical capacity to provide online or distance learning for businesses seeking to contract with the federal government; (2) develop curriculum for seminars that will provide businesses with the technical expertise for such contracting; and (3) provide training and technical expertise through distance learning to participant business owners and other interested parties. Amends the Federal Acquisition Streamlining Act of 1994 to extend through FY2009 the socially and economically disadvantaged business program.

minority entrepreneurship development act amends small business act establish small_business_administration sba things formulate execute promote sba policies programs provide assistance small businesses owned controlled minorities authorizes sba administrator grants eligible educational institutions assist establishing entrepreneurship curriculum undergraduate graduate studies placement small business development center campus institution authorizes administrator grants eligible associations organizations assist establishing technical capacity provide online distance learning businesses seeking contract federal government develop curriculum seminars provide businesses technical expertise contracting provide training technical expertise distance learning participant business owners interested parties amends extend fy2009 socially economically disadvantaged business program


Summary: Small Business Disaster Response and Loan Improvements Act of 2007 - (Sec. 3) Extends through October 31, 2007, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is currently authorized through February 2, 2007, under the Small Business Act or the Small Business Investment Act of 1958. Title I: Disaster Planning and Response - (Sec. 101) Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to make loans to nonprofit organizations: (1) located or operating in an area affected by a natural or other disaster; or (2) providing services to persons who have evacuated from any such area. (Sec. 102) Increases from $1.5 million to $2 million the maximum aggregate loan amount authorized to a borrower under the SBA's disaster loan program. Authorizes the Administrator to waive such loan limit based on economic indicators for the region in which the disaster occurred. (Sec. 103) Authorizes the Administrator to make small business development center (SBDC) grants in amounts greater than $100,000 to accommodate extraordinary occurrences having a catastrophic impact on small businesses in a community affected by a disaster. (Sec. 104) Authorizes an SBDC to provide assistance to small businesses located outside the state of the SBDC, without regard to geographic proximity, if such small businesses are located in a disaster area. (Sec. 105) Authorizes the Administrator to establish a contracting outreach and technical assistance program for small businesses which have a primary place of business or other significant presence in a disaster area. (Sec. 106) Authorizes the Administrator, with respect to any procurement related to a major disaster, to guarantee any surety against loss resulting from a bond breach by a principal on any total work order or contract amount that does not exceed $5 million. Allows the Administrator to increase such amount to $10 million upon request of the head of any federal agency other than the SBA involved in reconstruction efforts in response to a major disaster. (Sec. 107) Amends the Small Business Competitive Demonstration Program Act of 1988 to terminate the small business competitive demonstration program on the date of enactment of this Act. (Sec. 108) Increases from $10,000 or less to $14,000 or less, or such higher amount as the Administrator determines, the maximum small business loan amount for which the SBA will not require collateral in the event of a catastrophic national disaster. (Sec. 109) Requires the Administrator, with respect to any disaster, to ensure that all application periods for disaster relief under the Small Business Act correspond with application deadlines established under the Robert T. Stafford Disaster Relief and Emergency Assistance Act or as extended by the President. Requires reports from the Administrator to the congressional small business committees on such deadlines, loan applications, and loan disbursements. Directs the Administrator to: (1) take certain steps to increase public awareness of a disaster, including disaster loan application deadlines and contact information; and (2) create a marketing and outreach plan for SBA disaster relief efforts. (Sec. 110) Directs the Administrator to study and report to Congress on whether the SBA standard operating procedures for disaster loans are consistent with SBA regulations for administering the disaster loan program. (Sec. 111) Authorizes the Administrator to contract with: (1) a private entity to process SBA loans made with respect to a major disaster or catastrophic national disaster; and (2) a qualified lender or loss verification professional to verify losses with respect to SBA disaster loans. (Sec. 112) Requires the Administrator to: (1) amend the 2006 Atlantic hurricane season disaster response plan to apply to major disasters; and (2) report such amendments to the small business committees. (Sec. 113) Directs the Administrator to specifically assign certain SBA disaster planning responsibilities to an SBA employee who: (1) is not an employee of the SBA's Office of Disaster Assistance; (2) reports directly to the Administrator; and (3) has appropriate disaster planning background and expertise. Requires an implementation report from the Administrator to the small business committees. (Sec. 114) Allows the Administrator to utilize SBA district offices to process SBA disaster loans. (Sec. 115) Authorizes the Administrator to ensure that there are at least: (1) 800 full-time employees in the Office of Disaster Assistance; and (2) 750 employees in the SBA's Disaster Cadre. Requires a report from the Administrator to the small business committees if either number is below the required level. Title II: Disaster Lending - (Sec. 201) Authorizes the President to make a catastrophic national disaster declaration in accordance with this section. Requires the Administrator, with the concurrence of the Secretary of Homeland Security and the Administrator of the Federal Emergency Management Agency, to promulgate regulations establishing a threshold for a catastrophic national disaster declaration. Directs the Administrator to establish a threshold that: (1) is similar in size and scope to the events relating to the terrorist attacks of September 11, 2001, and Hurricane Katrina of 2005; and (2) requires that the President declare a major disaster before making a catastrophic national disaster declaration. Authorizes the Administrator, if the President makes a catastrophic national disaster declaration, to make loans to small businesses economically adversely affected by the national disaster. (Sec. 202) Authorizes the Administrator to guarantee up to 85% of the principal and interest of any loan issued by a qualified private lender to a small business located in a disaster area declared by the President. Limits each loan amount to $2 million. Requires a report from the Administrator to the small business committees concerning the issuance of final regulations establishing permanent criteria for qualified private lenders. Authorizes appropriations. (Sec. 204) Directs the Administrator to: (1) establish and implement an expedited catastrophic disaster assistance business loan program to provide small businesses with immediate disaster assistance; and (2) report to the small business committees on progress in establishing the program. Authorizes appropriations. (Sec. 205) Includes as a HUBZone (heavily underutilized business zone), for purposes of SBA assistance to small businesses located in HUBZones, an area which the President has declared a major disaster as a result of Hurricane Katrina or Rita. Allows a HUBZone area to be considered a catastrophic national disaster area for up to five years after its declaration as such by the Administrator. Tolls the period that a small business may participate in the SBA small business and capital ownership development program by the period that such business is designated as a HUBZone small business in a catastrophic national disaster area. Requires a report from the Comptroller General to the small business committees evaluating the designation by the Administrator of catastrophic national disaster areas. Title III: Disaster Assistance Oversight - (Sec. 301) Directs the Administrator, for each month of the applicable period for a major disaster, to report to the small business and appropriations committees on the operation of the SBA disaster loan program. Requires, from the Administrator to the small business committees: (1) daily updates on the operation of the SBA disaster loan program during the entire period of a presidentially-declared disaster; (2) semiannual reports, during and 18 months following the period of a presidentially-declared major disaster, regarding federal contracts awarded as a result of that major disaster; and (3) a single report on how the SBA can improve the processing of applications under the disaster loan program.

small business disaster response loan improvements act sec extends october terms conditions authorization program authority provision including pilot program currently authorized february small business act small_business_investment_act title disaster planning response sec amends small_business_act authorize administrator small_business_administration sba loans nonprofit organizations located operating area affected natural disaster providing services persons evacuated area sec increases million million maximum aggregate loan authorized borrower sba disaster loan program authorizes administrator waive loan limit based economic indicators region disaster occurred sec authorizes administrator small business development center sbdc grants amounts greater accommodate extraordinary occurrences having catastrophic impact small businesses community affected disaster sec authorizes sbdc provide assistance small businesses located outside state sbdc regard geographic proximity small businesses located disaster area sec authorizes administrator establish contracting outreach technical assistance program small businesses primary place business significant presence disaster area sec authorizes administrator respect procurement related major disaster guarantee surety loss resulting bond breach principal total work order contract exceed million allows administrator increase million request head federal agency sba involved reconstruction efforts response major disaster sec amends terminate small business competitive demonstration program date enactment act sec increases higher administrator determines maximum small business loan sba require collateral event catastrophic national disaster sec requires administrator respect disaster ensure application periods disaster relief small business act correspond application deadlines established robert stafford disaster relief emergency assistance act extended president requires reports administrator congressional small business committees deadlines loan applications loan disbursements directs administrator certain steps increase public awareness disaster including disaster loan application deadlines contact information create marketing outreach plan sba disaster relief efforts sec directs administrator study report congress sba standard operating procedures disaster loans consistent sba regulations administering disaster loan program sec authorizes administrator contract private entity process sba loans respect major disaster catastrophic national disaster qualified lender loss verification professional verify losses respect sba disaster loans sec requires administrator amend atlantic hurricane season disaster response plan apply major disasters report amendments small business committees sec directs administrator specifically assign certain sba disaster planning responsibilities sba employee employee sba reports directly administrator appropriate disaster planning background expertise requires implementation report administrator small business committees sec allows administrator utilize sba district offices process sba disaster loans sec authorizes administrator ensure time employees employees sba requires report administrator small business committees number required level title disaster lending sec authorizes president catastrophic national disaster declaration accordance section requires administrator concurrence secretary homeland_security administrator federal_emergency_management_agency promulgate regulations establishing threshold catastrophic national disaster declaration directs administrator establish threshold similar size scope events relating terrorist attacks september hurricane katrina requires president declare major disaster making catastrophic national disaster declaration authorizes administrator president makes catastrophic national disaster declaration loans small businesses economically adversely affected national disaster sec authorizes administrator guarantee principal interest loan issued qualified private lender small business located disaster area declared president limits loan million requires report administrator small business committees concerning issuance final regulations establishing permanent criteria qualified private lenders authorizes appropriations sec directs administrator establish implement expedited catastrophic disaster assistance business loan program provide small businesses immediate disaster assistance report small business committees progress establishing program authorizes appropriations sec includes hubzone heavily underutilized business zone purposes sba assistance small businesses located hubzones area president declared major disaster result hurricane katrina rita allows hubzone area considered catastrophic national disaster area years declaration administrator tolls period small business participate sba small business capital ownership development program period business designated hubzone small business catastrophic national disaster area requires report comptroller_general small business committees evaluating designation administrator catastrophic national disaster areas title iii disaster assistance oversight sec directs administrator month applicable period major disaster report small business appropriations committees operation sba disaster loan program requires administrator small business committees daily updates operation sba disaster loan program entire period presidentially declared disaster semiannual reports months following period presidentially declared major disaster federal contracts awarded result major disaster single report sba improve processing applications disaster loan program


Summary: Small Business Child Care Act - Directs the Secretary of Health and Human Services to establish a program to award grants, on a competitive basis, to assist states in providing funds to encourage the establishment and operation of employer-operated child care programs.

small business child care act directs secretary health_and_human_services establish program award grants competitive basis assist states providing funds encourage establishment operation employer operated child care programs


Summary: Small Business Compliance Assistance Enhancement Act of 2007 - Amends the Small Business Regulatory Enforcement Fairness Act of 1996 to require an agency to prepare a compliance guide to assist small entities in complying with a Federal rule or group of related rules for which an agency is required to prepare a final regulatory flexibility analysis whenever an agency determines that a Federal rule or group of rules will have a significant economic impact on a substantial number of small entities.

small business compliance assistance enhancement act amends small_business_regulatory_enforcement fairness act require agency prepare compliance guide assist small entities complying federal rule group related rules agency required prepare final regulatory flexibility analysis agency determines federal rule group rules significant economic impact substantial number small entities


Summary: Amends the Internal Revenue Code to: (1) increase the expensing allowance for depreciable business property from $100,000 to $200,000; (2) make such allowance permanent; (3) increase to $800,000 the asset cost threshold for calculating reductions in such allowance; (4) allow an annual inflation adjustment to the expensing allowance and the threshold amount after 2007; and (5) allow a taxpayer to revoke an election to expense such business property without the prior consent of the Secretary of the Treasury.

amends internal revenue code increase expensing allowance depreciable business property allowance permanent increase asset cost threshold calculating reductions allowance allow annual inflation adjustment expensing allowance threshold allow taxpayer revoke election expense business property prior consent secretary treasury


Summary: Small Business Paperwork Relief Act of 2007 - Amends the Paperwork Reduction Act to direct agency heads not to impose civil fines for first-time paperwork violations by small business concerns unless there is potential for serious harm to the public interest, the detection of criminal activity would be impaired, the violation is not corrected within six months, the violation is a violation of internal revenue law or a law concerning the assessment or collection of any tax, debt, revenue, or receipt, or the violation presents a danger to the public health or safety. Permits an agency to determine that a fine should not be imposed for a violation that presents a danger to public health or safety if the violation is corrected within 24 hours after receipt by the small business owner of notification of the violation. Makes this Act inapplicable to any violation by a small business of a requirement regarding the collection of information by an agency if the small business previously violated any requirement concerning the collection of information by that agency.

small business paperwork relief act amends paperwork reduction act direct agency heads impose civil fines time paperwork violations small business concerns potential harm public interest detection criminal activity impaired violation corrected months violation violation internal revenue law law concerning assessment collection tax debt revenue receipt violation presents danger public health safety permits agency determine fine imposed violation presents danger public health safety violation corrected hours receipt small business owner notification violation makes act inapplicable violation small business requirement collection information agency small business previously violated requirement concerning collection information agency


Summary: Small Business Disaster Loan Reporting Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to: (1) amend the 2006 hurricane season disaster response plan to apply to major disasters; (2) report monthly to the congressional small business committees on the operation of the SBA disaster loan program; (3) provide daily updates during presidentially declared disaster periods; (4) provide reports regarding federal contracts awarded as a result of a major disaster; and (5) report on how the SBA can improve the processing of applications under the disaster loan program.

small business disaster loan reporting act directs administrator small_business_administration sba amend hurricane season disaster response plan apply major disasters report monthly congressional small business committees operation sba disaster loan program provide daily updates presidentially declared disaster periods provide reports federal contracts awarded result major disaster report sba improve processing applications disaster loan program


Summary: Private Disaster Loans Act of 2007 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to guarantee timely payment of principal and interest on any loan issued by a qualified private lender to an eligible small business located in a disaster area. Authorizes the Administrator to establish an online application process for such loans. Authorizes the Administrator to guarantee up to 85 percent of such a loan. Sets the maximum amount of such a loan at $2 million.

private disaster loans act amends small business act authorize administrator small_business_administration sba guarantee timely payment principal interest loan issued qualified private lender eligible small business located disaster area authorizes administrator establish online application process loans authorizes administrator guarantee percent loan sets maximum loan million


Summary: Small Business International Trade Enhancements Act of 2007 - Amends the Small Business Act to establish an Associate Administrator for International Trade as the head of the Office of International Trade of the Small Business Administration (SBA), who shall be responsible for international trade policy. Grants the SBA Administrator the authority to appoint additional Associate Administrators. Requires United States Export Assistance Centers (export centers/one-stop shops) to aid the Office in maintaining a trade distribution network for trade promotion and trade assistance for small businesses. Requires the Office to establish annual goals to enhance the export capabilities of small businesses and small manufacturers to compete against foreign entities. Directs the Office, in order to provide small businesses access to certain export financing programs, to appoint at least one trade financial specialist within the SBA to oversee international loan programs and assist SBA employees with trade finance issues. Directs the SBA Administrator to ensure that the number of full-time equivalent Office employees assigned to one-stop shops for U.S. exporters is at least the number that were assigned on January 1, 2003. Increases: (1) the total outstanding amount of an international trade loan guaranteed by the SBA under the Export Working Capital Program; (2) the maximum amount of an international trade loan; and (3) the maximum amount available for export working capital, supplies, or financing. Allows such loan to be secured by a second lien position on the property or equipment financed by the loan or on other assets of the small business concern. (Currently, a first lien position or first mortgage on the property, equipment, or other business assets is required.)

enhancements act amends small business act establish associate administrator international_trade head sba shall responsible international trade policy grants sba administrator authority appoint additional associate administrators requires united states export assistance centers export centers stop aid office maintaining trade distribution network trade promotion trade assistance small businesses requires office establish annual goals enhance export capabilities small businesses small manufacturers compete foreign entities directs office order provide small businesses access certain export financing programs appoint trade financial specialist sba oversee international loan programs assist sba employees trade finance issues directs sba administrator ensure number time equivalent office employees assigned stop exporters number assigned january increases total outstanding international trade loan guaranteed sba maximum international trade loan maximum available export working capital supplies financing allows loan secured second lien position property equipment financed loan assets small business concern currently lien position mortgage property equipment business assets required


Summary: Defense Travel Simplification Act of 2007 - Requires the Secretary of Defense to: (1) redesignate the Defense Travel System as the Defense Travel Accounting and Voucher Processing System; and (2) establish an intra-agency task force to recommend measures to streamline and simplify the commercial travel system used by the Department of Defense (DOD) through the establishment of a successor system to replace the Defense Travel Accounting and Voucher Processing System. Requires the successor system to include an Internet-based travel system designed to identify modes of travel, hotels or other accommodations, or rental vehicles. Prohibits any successor system from being deployed until 90 days after successful operational testing by the Secretary.

defense travel simplification act requires secretary defense redesignate voucher processing system establish intra agency task force recommend measures streamline simplify commercial travel system department_of_defense dod establishment successor system replace voucher processing system requires successor system include internet based travel system designed identify modes travel hotels accommodations rental vehicles prohibits successor system deployed days successful operational testing secretary


Summary: Catastrophic Disaster Recovery Enhancement Act of 2007 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA), in providing SBA disaster relief assistance, to waive the prohibition on the duplication of benefits, including whether damage or destruction has been compensated for, credit is available from, or funds have been made available from any other source. Applies such amendment to any SBA assistance provided on or after August 29, 2005 (thereby ensuring applicability and retroactivity for victims of Hurricanes Katrina, Rita, and Wilma).

catastrophic disaster recovery enhancement act amends small business act authorize administrator small_business_administration sba providing sba disaster relief assistance waive prohibition duplication benefits including damage destruction compensated credit available funds available source applies amendment sba assistance provided august ensuring applicability victims hurricanes katrina rita wilma


Summary: Small Business Intermediary Lending Pilot Program Act of 2007 - Establishes a three-year small business intermediary lending pilot program under which the Administrator of the Small Business Administration (SBA) may make direct loans to eligible nonprofit lending intermediaries for the purpose of making fixed interest rate and mid-size loans ($35,000 to $200,000) to startup, newly-established, and growing small businesses. Authorizes the Administrator, under the program, to make one percent, 20-year loans of up to $1 million, on a competitive basis, to up to 20 lending intermediaries. Requires geographic diversity and representation of urban and rural communities under the program.

establishes year small business intermediary lending pilot program administrator small_business_administration sba direct loans eligible nonprofit lending intermediaries purpose making fixed interest rate mid size loans startup newly established growing small businesses authorizes administrator program percent year loans million competitive basis lending intermediaries requires geographic diversity representation urban rural communities program


Summary: Military Reservist and Veteran Small Business Reauthorization Act of 2007 - Amends the Small Business Act to: (1) authorize grants of up to $25,000 for small business assistance for members of the reserves called or ordered to active duty (reservists); (2) allow the Administrator of the Small Business Administration (SBA) to make noncollateralized small business loans to such reservists; (3) direct the Administrator to establish a loan preapproval process for small business loans to such reservists; and (4) direct the Administrator to develop an outreach and technical assistance program with respect to loans and grants made to such reservists. National Reservist Enterprise Transition and Sustainability Act of 2007 - Directs the Administrator to establish a program to provide business planning assistance to small businesses owned and operated by reservists. Authorizes SBA loans of up to $100,000 to new veteran entrepreneurs. Provides increased funding for FY2008-FY2010 for the SBA's Office of Veterans Business Development. Extends permanently the SBA's Advisory Committee on Veterans Business Affairs.

military reservist amends small business act authorize grants small business assistance members reserves called ordered active duty reservists allow administrator small_business_administration sba small business loans reservists direct administrator establish loan preapproval process small business loans reservists direct administrator develop outreach technical assistance program respect loans grants reservists sustainability act directs administrator establish program provide business planning assistance small businesses owned operated reservists authorizes sba loans new veteran entrepreneurs provides increased funding fy2008 fy2010 sba extends permanently sba advisory_committee


Summary: Small Business Regulatory Review Act of 2007 - Requires the Securities and Exchange Commission (SEC), before approving any final rule of the Public Company Accounting Oversight Board (established under the Sarbanes-Oxley Act of 2002), to conduct and complete a regulatory flexibility analysis of such rule. Requires the SEC to publish the small business compliance guide (as required under the Small Business Regulatory Enforcement Fairness Act of 1996) on the same date as the publication of the final rule issued to carry out a provision of the Sarbanes-Oxley Act concerning management of internal controls for financial reporting. Directs the Comptroller General to conduct an assessment of the impact on small businesses of such rules.

small business regulatory review act requires securities_and_exchange_commission sec approving final rule public_company_accounting_oversight_board established sarbanes oxley act conduct complete regulatory flexibility analysis rule requires sec publish small business compliance guide required small_business_regulatory_enforcement fairness act date publication final rule issued carry provision sarbanes-oxley_act concerning management internal controls financial reporting directs comptroller general conduct assessment impact small businesses rules


Summary: Invest in Small Business Act of 2007 - Amends the Internal Revenue Code to: (1) increase the exclusion from gross income of gain from the sale or exchange of qualified small business stock from 50 to 75 % of such gain and to reduce the required holding period for such stock from five to four years; (2) allow a 100% exclusion of gain from such stock sold by a business in an empowerment zone; (3) deny a tax exclusion for small business stock held by a 25% controlled corporate group; (4) repeal as an item of tax preference under the alternative minimum tax the exclusion of gain from the sale of small business stock; (5) repeal the 28% income tax rate on the gain from the sale of small business stock which is not excluded from gross income; (6) revise the definition of "qualified small business" for certain tax purposes to mean a C corporation with aggregate gross assets not exceeding $100 million (currently, $50 million); and (7) provide for an annual inflation adjustment to the small business aggregate gross asset amount after 2007.

invest small business act amends internal revenue code increase exclusion gross income gain sale exchange qualified small business stock gain reduce required holding period stock years allow exclusion gain stock sold business empowerment zone deny tax exclusion small business stock held controlled corporate group repeal item tax preference alternative minimum tax exclusion gain sale small business stock repeal income tax rate gain sale small business stock excluded gross income revise definition qualified small business certain tax purposes mean corporation aggregate gross assets exceeding million currently million provide annual inflation adjustment small business aggregate gross asset


Summary: Small Business Lending Reauthorization and Improvements Act of 2007 - (Sec. 4) Amends the Small Business Act (the Act) to reauthorize for FY2007-FY2010 certain small business assistance programs of the Small Business Administration (SBA), including: (1) the microloan program (loans made to very small businesses for start-up, expansion, or equipment); (2) section 7(a) loans (SBA-guaranteed general business loans made to small businesses); (3) certified development company (CDC) financings; (4) assistance to veteran-owned small businesses and small businesses affected by a Department of Defense base closure or realignment or the termination of a defense contract or subcontract; and (5) the Program for Investment in Microentrepreneurs (PRIME).Title I: Microloan Programs - (Sec. 101) Increases from $7,500 to $10,000 the average microloan loan amount.(Sec. 102) Includes persons with disabilities within the purposes of the Act (thereby qualifying them for microloans).(Sec. 103) Revises microloan intermediary eligibility requirements to allow an intermediary to qualify if it has an employee with at least three years of experience at making microloans and one year of experience providing intensive marketing, management, and technical assistance to borrowers. Increases from 25% to 30% of the total microloan assistance funding the amount that intermediaries may use to provide technical assistance to borrowers.(Sec. 104) Transfers to the SBA Administrator administration of the PRIME program. Requires at least 50% of available program funds to be used to benefit very low-income persons, including those residing on Indian reservations.(Sec. 105) Requires the Comptroller General (CG) (currently, the Administrator) to report to the congressional small business committees on the operation and effectiveness of the microloan program.Title II: Intermediary Lending Pilot Program - (Sec. 202) Establishes a three-year small business intermediary lending pilot program under which the Administrator provides loans to nonprofit intermediaries, which then make fixed-interest-rate midsize loans to startup, newly established, and growing small businesses. Makes eligible for the SBA loans an intermediary with at least one year of experience in making such business loans. Limits to $1 million the outstanding loan amount to each intermediary, with a loan interest rate of 1% for a maximum term of 20 years. Prohibits the Administrator from providing such loans to more than 20 intermediaries. Requires an annual report from the Administrator to the small business committees evaluating pilot program effectiveness. Authorizes appropriations.Title III: 7(a) Loan Program - (Sec. 301) Establishes a preferred lenders program under which the Administrator authorizes qualifying lenders to make and service working capital loans to small businesses. Requires the Administrator to designate an area in which a qualifying lender may operate, but allows a preferred lender to request designation as a national preferred lender eligible to operate in any area served by an SBA office. Outlines national preferred lender eligibility requirements. Allows such designation to be suspended or revoked at the discretion of the Administrator.(Sec. 302) Increases from: (1) $2 million to $3 million the maximum amount of a 7(a) loan; and (2) $1.5 million to $2.25 million the maximum amount of such loan that may be guaranteed by the SBA.(Sec. 303) Allows a small business to receive the maximum 7(a) loan as well as the maximum 504 loan (financing to small businesses through loans funded by debentures guaranteed by the Administrator under provisions of the Small Business Investment Act of 1958). Requires an annual report from the Administrator to the small business committees on such combination financing.(Sec. 304) Allows the Administrator to pool (combine for sale on the secondary market) SBA-guaranteed loans having various interest rates. (Currently, the SBA may pool only SBA-guaranteed loans having the same interest rate.) Requires interest rates on trust certificates representing shares of pooled loans to be the weighted average interest rate of such loans.(Sec. 305) Directs the SBA to establish an optional loan size standard applicable to both 7(a) borrowers and 504 loan borrowers, using net worth and average net income as loan size standards in lieu of industry standards.(Sec. 306) Requires the SBA to provide to lenders at least one alternative interest rate other than the Wall Street prime rate.(Sec. 307) Establishes in the SBA an Office of Minority Business Development, to be administered by the Associate Administrator for Minority Small Business Development, who shall be responsible for the formulation, execution, and promotion of SBA policies and programs that provide assistance to small businesses owned and controlled by minorities. Authorizes appropriations.(Sec. 308) Allows the SBA to lower the loan fees charged to both borrowers and lenders (currently, only to borrowers) if the 7(a) loan program is fully funded or if the program is overfunded after the last collection of such fees. Limits the amount of appropriated funds that may be applied to such fee reductions.(Sec. 309) Increases to $2.75 million the maximum SBA loan guarantee amount for loans made to small businesses engaging in exporting and other international trade. Provides collateral and refinancing terms for such loans consistent with other 7(a) loan programs.(Sec. 310) Directs the Administrator to carry out a rural lending outreach program, providing up to an 85% guaranty for small business loans of up to $250,000, through lenders located in rural areas.Title IV: Certified Development Companies; 504 Loan Program - (Sec. 401) Amends the Small Business Investment Act of 1958 to rename the 504 loan program as the Local Development Business Loan Program (LDBL).(Sec. 402) Allows a CDC to elect not to foreclose or liquidate its defaulted loans, but instead to contract with a third party to carry out such foreclosures and liquidations. Authorizes such CDCs to receive SBA reimbursement for authorized foreclosure and liquidation expenses.(Sec. 403) Allows certain small business borrowers (start-ups or those using the proceeds for single purpose buildings) to contribute more equity to a project funded partially through a CDC, and to use the excess equity to reduce the amount of the non-CDC-funded portion of the loan.(Sec. 404) Makes uniform between the 7(a) program and the LDBL program the office space leasing policy, allowing up to 50% of a facility to be leased on either a new or existing building.(Sec. 405) Provides various incentives for businesses to locate in low-income communities, including: (1) allowing businesses to qualify for a "public policy goal loan" and thereby increase its maximum authorized loan amount from $2 million to $4 million; (2) increasing by 25% the small business size standard; and (3) allowing more business owner personal liquidity to be excluded from the amount required to reduce the portion of the project funded by the SBA.(Sec. 406) Allows a business to qualify as "minority owned" for purposes of qualifying as a public policy goal loan if 51% or more of the business interest belongs to one or more individuals who are minorities.(Sec. 407) Allows a borrower to refinance under a new SBA loan a limited amount of the business's preexisting debt, if that debt is already secured by a mortgage on the property being expanded under the new loan.(Sec. 409) Provides definitions of "development company," "certified development company," and "rural area" under the Small Business Investment Act of 1958.(Sec. 410) Makes permanent a current stop-gap provision that allows CDCs qualified as premier certified lenders under SBA requirements to amortize their reserve requirements and withdraw from such reserve amounts attributable to debentures as such debentures are repaid.(Sec. 411) Outlines criteria for development company qualification as a CDC eligible to participate in the LDBL program, including: (1) size (fewer than 500 employees, with an exception); (2) primary purpose and function; (3) nonprofit status; (4) good standing in the state in which it conducts business; (4) membership, board of directors, and professional management and staff; and (5) use of proceeds. Provides ethical requirements, including prohibited conflicts of interest in approved loans. Directs the Administrator to permit a CDC to engage in multistate (contiguous) loan operations, under specified requirements. Prohibits a CDC from having more than one member of the Board of Directors of that CDC in common with any other Board of Directors of another CDC. Requires CDCs to follow state job creation requirements.(Sec. 413) Allows 7(a) and LDBL program borrowers to include loan and debenture closing costs within their loan amounts.(Sec. 415) Authorizes and directs the SBA to publish proposed regulations to implement this Act within 120 days after enactment, and to publish final regulations within an additional 120 days.(Sec. 416) Establishes a two-year limit for final approval of development companies as new market capital venture companies.(Sec. 417) Authorizes LDBL program loans to be used by CDCs for a pilot program to assist small, nonprofit child care businesses. (Currently, such loans are limited to for-profit child care providers.) Prohibits more than 7% of LDBL loans guaranteed in a fiscal year from being used for loans to child care businesses. Terminates such authority at the end of FY2010. Requires: (1) semiannual implementation reports, throughout the program period, from the Administrator to the small business committees; and (2) a single report, from the CG to such committees, on information gathered during the first two years of the program.(Sec. 418) Requires that any debenture issued to provide capital for a development company loan guaranteed by the SBA to provide for payment of principal and interest on a semiannual basis.(Sec. 419) Increases from $250,000 to $400,000 the value of commercial real property offered as collateral for a 7(a) or LDBL loan on which an appraisal will be required. Allows the Administrator to require an appraisal of property valued at less than $400,000 if the appraisal is considered necessary for an appropriate evaluation of creditworthiness. Requires the Administrator to periodically adjust the $400,000 threshold for inflation.

small business lending reauthorization improvements act sec amends small business act act reauthorize certain small business assistance programs small_business_administration sba including microloan program loans small businesses start expansion equipment section loans sba guaranteed general business loans small businesses certified development company cdc financings assistance veteran owned small businesses small businesses affected department_of_defense base closure realignment termination defense contract subcontract microentrepreneurs microloan programs sec increases average microloan loan includes persons disabilities purposes act qualifying revises microloan intermediary eligibility requirements allow intermediary qualify employee years experience making microloans year experience providing intensive marketing management technical assistance borrowers increases total microloan assistance funding intermediaries use provide technical assistance transfers administration prime program requires available program funds benefit low income persons including residing indian requires comptroller general currently administrator report congressional small business committees operation effectiveness microloan program title intermediary lending pilot program sec establishes year small business intermediary lending pilot program administrator provides loans nonprofit intermediaries fixed interest rate loans startup newly established growing small businesses makes eligible sba loans intermediary year experience making business loans limits million outstanding loan intermediary loan interest rate maximum term years prohibits administrator providing loans intermediaries requires annual report administrator small business committees evaluating pilot program effectiveness authorizes appropriations title iii sec establishes preferred lenders program administrator authorizes qualifying lenders service working capital loans small businesses requires administrator designate area qualifying lender operate allows preferred lender request designation national preferred lender eligible operate area served sba office outlines national preferred lender eligibility requirements allows designation suspended revoked discretion increases million million maximum loan million million maximum loan guaranteed allows small business receive maximum loan maximum loan financing small businesses loans funded debentures guaranteed administrator provisions small_business_investment_act requires annual report administrator small business committees combination allows administrator pool combine sale secondary market sba guaranteed loans having interest rates currently sba pool sba guaranteed loans having interest rate requires interest rates trust certificates representing shares pooled loans weighted average interest rate directs sba establish optional loan size standard applicable borrowers loan borrowers net worth average net income loan size standards lieu industry requires sba provide lenders alternative interest rate wall street prime establishes sba administered shall responsible formulation execution promotion sba policies programs provide assistance small businesses owned controlled minorities authorizes allows sba lower loan fees charged borrowers lenders currently borrowers loan program fully funded program collection fees limits appropriated funds applied fee increases million maximum sba loan guarantee loans small businesses engaging exporting international trade provides collateral refinancing terms loans consistent loan directs administrator carry rural lending outreach program providing guaranty small business loans lenders located rural areas title sec amends small_business_investment_act rename loan program allows cdc elect foreclose liquidate defaulted loans instead contract party carry foreclosures authorizes cdcs receive sba reimbursement authorized foreclosure liquidation allows certain small business borrowers start proceeds single purpose buildings contribute equity project funded partially cdc use excess equity reduce non cdc funded portion makes uniform program program office space leasing policy allowing facility leased new existing provides incentives businesses locate low income communities including allowing businesses qualify public policy goal loan increase maximum authorized loan million million increasing small business size standard allowing business owner personal liquidity excluded required reduce portion project funded allows business qualify minority owned purposes qualifying public policy goal loan business interest belongs individuals allows borrower refinance new sba loan limited business preexisting debt debt secured mortgage property expanded new provides definitions development company certified development company rural area small_business_investment_act makes permanent current stop gap provision allows cdcs qualified premier certified lenders sba requirements amortize reserve requirements withdraw reserve amounts attributable debentures debentures outlines criteria development company qualification cdc eligible participate program including size fewer employees exception primary purpose function nonprofit status good standing state conducts business membership board directors professional management staff use proceeds provides ethical requirements including prohibited conflicts interest approved loans directs administrator permit cdc engage multistate contiguous loan operations specified requirements prohibits cdc having member board_of_directors cdc common board_of_directors cdc requires cdcs follow state job creation allows program borrowers include loan debenture closing costs loan authorizes directs sba publish proposed regulations implement act days enactment publish final regulations additional establishes year limit final approval development companies new market capital venture authorizes program loans cdcs pilot program assist small nonprofit child care businesses currently loans limited profit child care providers prohibits loans guaranteed fiscal year loans child care businesses terminates authority end fy2010 requires semiannual implementation reports program period administrator small business committees single report committees information gathered years requires debenture issued provide capital development company loan guaranteed sba provide payment principal interest semiannual increases value commercial real property offered collateral loan appraisal required allows administrator require appraisal property valued appraisal considered necessary appropriate evaluation creditworthiness requires administrator periodically adjust threshold inflation


Summary: Small Business Emergency Fuel Assistance Act of 2007 - Establishes within the Economic Development Administration of the Department of Commerce an emergency assistance program for small businesses and small farms dependent on fuel. Authorizes the President to declare a federal energy emergency if the health, safety, welfare, or economic well-being of U.S. citizens is at risk because of an imminent or actual shortage of adequate supplies of crude oil, gasoline or petroleum distillates owing to: (1) a disruption in the national distribution system for such distillates (including a shortage related to a major disaster); or (2) significant pricing anomalies in national energy markets for them. Authorizes the Secretary of Commerce to award grants to states under a presidential declaration of fuel supply interruption.

small business emergency fuel assistance act establishes economic_development_administration department_of_commerce emergency assistance program small businesses small farms dependent fuel authorizes president declare federal energy emergency health safety welfare economic citizens risk imminent actual shortage adequate supplies crude oil gasoline petroleum distillates owing disruption national distribution system distillates including shortage related major disaster significant pricing national energy markets authorizes secretary commerce award grants states presidential declaration fuel supply interruption


Summary: Small Business Venture Capital Act of 2007 - Title I: Small Business Investment Company Program - (Sec. 101) Amends the Small Business Act to reauthorize for FY2007-FY2010 the venture capital program under the Small Business Investment Act of 1958 (a program under which small business investment companies (SBICs) provide capital financing to small businesses). (Sec. 102) Amends the latter Act to increase the maximum amounts of outstanding leverage made available to: (1) any one SBIC; (2) two or more SBICs that are commonly controlled; and (3) SBICs that invest in women-owned or minority businesses or in businesses in low-income areas. (Sec. 103) Requires each SBIC, as a condition of an application for leverage, to certify that not less than 25% of the aggregate dollar amount of its financings will be provided to smaller enterprises. (Sec. 104) Allows SBICs who were licensed as participating securities SBICs prior to October 1, 2004, to obtain leverage based on Small Business Administration (SBA)-approved commitments rather than paid-in capital. (Sec. 105) Increases from 20% to 30% of total available private capital the maximum authorized SBIC investment in a single business (absent specific SBA approval). Title II: New Markets Venture Capital Program - (Sec. 201) Requires the SBA Administrator, in selecting investment companies to participate in the New Markets Venture Capital program (NMVC program) (investment in small businesses in low-income areas), to have as a goal to select at least one company from each SBA geographic region. Requires the Administrator, to the extent practicable, to have as a goal to enter into at least one NMVC program agreement with a company engaged primarily in the development of and investment in small manufacturers. (Sec. 202) Establishes in the Investment Division of the SBA the Office of New Markets Venture Capital. Requires the head of such Office to: (1) administer the NMVC program; (2) advise the Administrator on recommended changes; (3) work to expand the number of small businesses participating in the program; and (4) encourage investment in small manufacturing. (Sec. 203) Modifies the definition of low-income geographic area to reflect the new markets tax credit under the Internal Revenue Code. (Sec. 204) Requires the Administrator, within one year after the enactment of this Act, to prescribe standard documents for an application for final approval of a company under the NMVC program. (Sec. 205) Allows NMVC companies to receive operational assistance grants of the lesser of 10% of the private capital raised by the company or $1 million. Requires the Administrator to grant each conditionally-approved NMVC company up to two years to raise the $5 million in private capital required for participation. (Sec. 206) Reauthorizes the NMVC program for FY2007-FY2010. Reduces from $30 million to $20 million the authorization for operational assistance grants.

title small business investment company program sec amends small_business_act reauthorize fy2007 fy2010 venture capital program small_business_investment_act program small business investment companies sbics provide capital financing small businesses sec amends act increase maximum amounts outstanding leverage available sbic sbics commonly controlled sbics invest women owned minority businesses businesses low income areas sec requires sbic condition application leverage certify aggregate dollar financings provided smaller enterprises sec allows sbics licensed participating securities sbics prior october obtain leverage based small_business_administration commitments paid capital sec increases total available private capital maximum authorized sbic investment single business absent specific sba approval title new markets venture capital program sec requires sba administrator selecting investment companies participate program program investment small businesses low income areas goal select company sba geographic region requires administrator extent practicable goal enter program agreement company engaged primarily development investment small manufacturers sec establishes sba office new markets venture capital requires head office administer program advise administrator recommended changes work expand number small businesses participating program encourage investment small manufacturing sec modifies definition low income geographic area reflect new markets tax credit internal revenue code sec requires administrator year enactment act prescribe standard documents application final approval company program sec allows companies receive operational assistance grants lesser private capital raised company million requires administrator grant conditionally approved company years raise million private capital required participation sec reauthorizes program reduces million million authorization operational assistance grants


Summary: Securing Equity for the Economic Development of Low Income Areas Act of 2007 or SEED Act - Amends the Small Business Investment Act of 1958 to direct the Administrator of the Small Business Administration (SBA) to select at least one company from each SBA geographic region when selecting companies to participate as New Markets Venture Capital companies. Establishes in the Investment Division of the SBA the Office of New Markets Venture Capital. Modifies the definition of low-income geographic area to reflect the new markets tax credit under the Internal Revenue Code. Revises the formula for the amount of operational assistance grants for new markets venture capital companies.

securing equity economic development low income areas act small_business_investment_act direct administrator small_business_administration sba select company sba geographic region selecting companies participate companies establishes modifies definition low income geographic area reflect new markets tax credit internal revenue code revises formula operational assistance grants new markets venture capital companies