[Congressional Record (Bound Edition), Volume 156 (2010), Part 9] [Senate] [Pages 12839-12841] [From the U.S. Government Publishing Office, www.gpo.gov]TEXT OF AMENDMENTS SA 4455. Mr. JOHANNS (for himself, Mr. Barrasso, Mr. Risch, Mr. Inhofe, Mr. Ensign, and Mr. Thune) submitted an amendment intended to be proposed to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: At the end of subtitle A of title II, add the following: PART V--OTHER PROVISIONS SEC. 2051. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS. Section 9006 of the Patient Protection and Affordable Care Act, and the amendments made thereby, are hereby repealed; and the Internal Revenue Code of 1986 shall be applied as if such section, and amendments, had never been enacted. ______ SA 4456. Mr. DeMINT (for himself and Mr. Vitter) submitted an amendment intended to be proposed by him to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: Sec. __. None of the funds made available in this Act to the Department of Justice may be used to participate in any lawsuit that seeks to invalidate those provisions of the Arizona Revised Statutes amended by Arizona Senate Bill 1070, 49th Leg., 2nd Reg. Sess., Ch. 113 (Az. 6 2010) (as amended by Arizona House Bill 2162, 49th 7 Leg., 2nd Reg. Sess., Ch. 211 (Az. 2010)). ______ SA 4457. Mr. FEINGOLD submitted an amendment intended to be proposed to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: On page 41, between lines 3 and 4, insert the following: SEC. 1137. COORDINATION WITH DEPARTMENT OF AGRICULTURE. Section 7 of the Small Business Act (15 U.S.C. 636) is amended by adding at the end the following: ``(o) Coordination With Department of Agriculture.-- ``(1) In general.--In coordination with the Administrator of the Farm Service Agency, the Under Secretary for Rural Development, and the head of any other appropriate Federal agency, the Administrator shall conduct outreach and provide technical assistance to farmers and other rural businesses with regard to programs of the Administration for which the farmers and rural businesses may be eligible. ``(2) Agreement.--The coordination under this subsection shall include evaluating whether the Administrator should enter an agreement under which-- ``(A) offices of the Department of Agriculture may assist in completing and accept applications for programs of the Administration; or ``(B) employees of the Administration periodically have office hours at offices of the Department of Agriculture.''. ______ SA 4458. Mr. ENSIGN submitted an amendment intended to be proposed by him to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: After section 2042, insert the following: PART V--PROVIDING PERMANENT STATE AND LOCAL TAX DEDUCTIONS SEC. 2051. STATE AND LOCAL TAX DEDUCTIONS. (a) In General.--Section 164(b)(5) of the Internal Revenue Code of 1986 is amended by striking subparagraph (I). (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2009. (c) Offset.--Notwithstanding section 5 of the American Recovery and Reinvestment Act of 2009 (Pub. Law 111-5), from the amounts appropriated or made available and remaining unobligated under such Act, the Director of the Office of Management and Budget shall transfer from time to time to the general fund of the Treasury an amount equal to the sum of the amount of any net reduction in revenues resulting from the application of subsection (a). ______ SA 4459. Mr. BENNET submitted an amendment intended to be proposed to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: On page 7, strike lines 15 through 18 and insert the following: (4) in clause (iv)-- (A) by striking ``$4,000,000'' and inserting ``$5,500,000''; and (B) by striking ``and'' at the end; (5) in clause (v)-- (A) by striking ``$4,000,000'' and inserting ``$5,500,000''; and (B) by striking the period at the end and inserting ``; and''; and (6) by adding at the end the following: ``(vi) during the 2-year period beginning on the date of enactment of the Small Business Jobs Act of 2010, $10,000,000 for each project for a small business concern that constitutes a major source of employment, as determined by the Administrator.''. [[Page 12840]] ______ SA 4460. Mr. BENNET submitted an amendment intended to be proposed to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: On page 113, between lines 17 and 18, insert the following: SEC. 1348. SMALL BUSINESS CLEARINGHOUSE. Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding after paragraph (35), as added by section 1206 of this Act, the following: ``(36) Small business clearinghouse.-- ``(A) Submission to administration.-- ``(i) In general.--The Administrator shall establish a process under which a lender participating in a program under this subsection that denies an application by small business concern for a loan guaranteed under this subsection may submit the application to the Administrator for the purpose of making the application available to other lenders under this paragraph. ``(ii) Information.--With the approval of the applicant, a lender shall include with an application submitted to the Administrator under clause (i) any information in the possession of the lender relating to the creditworthiness and repayment ability of the applicant. ``(iii) Determination.--The Administrator shall determine whether an application submitted under clause (i) meets the eligibility and credit standards that a lender would be required to apply to approve a loan under this subsection. ``(B) Participation of lenders.-- ``(i) In general.--The Administrator shall establish a process under which the Administrator makes available to lenders each loan application submitted and determined to meet basic eligibility and credit standards under subparagraph (A) for the purpose of the lenders originating, underwriting, closing, and servicing the loan for which the applicant applied. ``(ii) Eligibility.--A lender shall be eligible to receive a loan application described in clause (i) if the lender participates in the programs established under this subsection. ``(iii) Local lenders.--The Administrator shall initially make available a loan application described in clause (i) to lenders participating in a program under this subsection with an office located within approximately 100 miles of the principal office of the loan applicant. ``(iv) Preferred or certified lenders.--If, as of 10 business days after the date the Administrator makes a loan application available under clause (iii), no lender described in clause (iii) has agreed to originate, underwrite, close, and service the loan, the Administrator shall make available the loan application to lenders participating in the Preferred Lenders Program under paragraph (2)(C)(ii) and lenders participating in the Certified Lenders Program under paragraph (19). ``(C) Referral fee.--A lender that agrees to originate, underwrite, close, and service a loan under subparagraph (B) shall pay a nominal referral fee, in an amount established by the Administrator, to the lender that submitted the application for the loan under subparagraph (A).''. ______ SA 4461. Mr. HATCH submitted an amendment intended to be proposed to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: At the end of subtitle A of title II, insert the following: PART V--OTHER PROVISIONS SEC. ____. RESEARCH CREDIT. (a) In General.--Subparagraph (B) of section 41(h)(1) of the Internal Revenue Code of 1986 is amended by striking ``December 31, 2009'' and inserting ``December 31, 2010''. (b) Conforming Amendment.--Subparagraph (D) of section 45C(b)(1) of such Code is amended by striking ``December 31, 2009'' and inserting ``December 31, 2010''. (c) Effective Date.--The amendments made by this section shall apply to amounts paid or incurred after December 31, 2009. ______ SA 4462. Mr. CARDIN submitted an amendment intended to be proposed to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: On page 200, between lines 2 and 3, insert the following: SEC. 3114. PILOT PROGRAM FOR DIRECT LOANS TO SMALL BUSINESS CONCERNS. (a) Definitions.--In this section-- (1) the terms ``Administration'' and ``Administrator'' mean the Small Business Administration and the Administrator thereof, respectively; (2) the term ``eligible small business concern'' means a small business concern with fewer than 25 employees; (3) the term ``pilot program'' means the pilot program established under subsection (b)(1); (4) the term ``region of the Administration'' means the geographic area served by a regional office of the Administration established under section 4(a) of the Small Business Act (15 U.S.C. 633(a)); and (5) the term ``small business concern'' has the meaning given that term under section 3 of the Small Business Act (15 U.S.C. 632). (b) Loan Program Established.-- (1) In general.--The Administrator and the Secretary shall jointly establish a pilot program under which the Administrator and the Secretary, acting through the regional offices of the Administration, may make loans to eligible small business concerns. (2) Locations for pilot program.--The Administrator and the Secretary-- (A) shall jointly select 6 States in which to make loans under the pilot program; and (B) may not select more than 1 State in any region of the Administration under subparagraph (A). (3) Start of pilot program.--The Administrator and the Secretary shall begin making loans under the pilot program not later than January 1, 2011. (c) Terms and Conditions.-- (1) In general.--Except as provided in paragraph (2), a loan under the pilot program shall have the same terms and conditions as, and may be used for any purpose authorized for, a guaranteed by the Administrator under section 7(a) of the Small Business Act (15 U.S.C. 636(a)), as amended by this Act. (2) Maximum amount.--A loan under the pilot program may be in an amount not more than $1,000,000. (d) Funding.--From the Fund, $500,000,000 shall be available to the Administrator and the Secretary, without further appropriation or fiscal year limitation, to carry out the pilot program. (e) Termination.--The Administrator and the Secretary may not make a loan under the pilot program after December 31, 2013. ______ SA 4463. Mr. HARKIN submitted an amendment intended to be proposed to amendment SA 4402 proposed by Mr. Reid (for Mr. Baucus (for himself, Ms. Landrieu, and Mr. Reid)) to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: At the end of subtitle A of title II, insert the following: PART V--OTHER PROVISIONS SEC. ____. SPECIAL RULE FOR PRIVATE ACTIVITY BOND PRIVATE USE TESTS WITH RESPECT TO THE PURCHASE OF WATER OUTPUT. (a) In General.--A qualified water output agreement shall be disregarded in determining whether the private business tests under section 141(b) of the Internal Revenue Code of 1986 are met with respect to an issue of bonds. (b) Qualified Water Output Agreement.--For purposes of this section, the term ``qualified water output agreement'' means, with respect to any issue of bonds, any agreement with a qualified entity for the purchase of water from a facility which is financed by such issue if it is reasonably expected on the date of issuance that not less than 10 percent of the water will be sold by such qualified entity to individuals not involved in a trade or business or to political subdivisions or their utilities. (c) Qualified Entity.--For purposes of this section, the term ``qualified entity'' means any rural water association-- (1) no part of the net earning of which inures to the benefit of any private shareholder or individual, and [[Page 12841]] (2) which is described in section 501(c)(12) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code. ______ SA 4464. Mr. DeMINT (for himself and Mr. Vitter) submitted an amendment intended to be proposed by him to the bill H.R. 5297, to create the Small Business Lending Fund Program to direct the Secretary of the Treasury to make capital investments in eligible institutions in order to increase the availability of credit for small businesses, to amend the Internal Revenue Code of 1986 to provide tax incentives for small business job creation, and for other purposes; which was ordered to lie on the table; as follows: At the appropriate place, insert the following: Sec. __. No funds made available in any provision of law may be used to participate in any lawsuit that seeks to invalidate those provisions of the Arizona Revised Statutes amended by Arizona Senate Bill 1070, 49th Leg., 2nd Reg. Sess., Ch. 113 (Az. 6 2010) (as amended by Arizona House Bill 2162, 49th 7 Leg., 2nd Reg. Sess., Ch. 211 (Az. 2010)). ____________________