This bill amends section 26 of the Small Business Act to strengthen the Office of Rural Affairs in the Small Business Administration (SBA). It requires the Office to be run by an Assistant Administrator who is a noncareer Senior Executive Service appointee. The bill clarifies the Office's duties to advise on programs for rural small business concerns, host outreach events, and coordinate with the Department of Agriculture (USDA). It directs the Assistant Administrator to convene interagency working groups to address capital access and investment, overlap between SBA and USDA loan programs, coordination on SBIC and Rural Business Investment programs, disaster assistance, cooperative participation, rural market definitions, innovation, support for Native Americans, and technical assistance for export and procurement. The SBA must notify congressional committees within 7 days of any change to or new memorandum of understanding with the USDA. The bill requires an initial report within 180 days and annual reports thereafter with operational details (name of the Assistant Administrator, budget, staff), summaries of activities and outreach events, an analysis of SBA lending in rural areas, and summaries of interagency work and MOUs. It also defines terms and lists the congressional committees that should receive reports.
If you are a rural small business or work with one, the Office will host outreach events in different regions and invite SBA district offices, resource partners, and federal and state agencies. The Office will also work with the USDA to identify overlaps in lending programs, share information, and coordinate technical assistance for areas like exports and procurement. The Administration must publish an initial and then yearly report online with basic information about the Office's staff, budget, activities, and outreach events. The bill text does not include specific new funding amounts.
No publicly available information on the bill's costs or any new funding amounts is included in the provided text.
No publicly available information in the bill text about supporters' statements, arguments, or intended benefits.
No publicly available information in the bill text about opposition, concerns, or counterarguments.