Rep. Latimer Votes in Support of Bills to Help Small Businesses

WASHINGTON, DC - This week U.S. Representative George Latimer (NY-16), a member of the House Committee on Small Business, voted to pass seven bills that will help small businesses. The bipartisan bills now head to the Senate for a vote.

"Small businesses are the backbone of our local economy, employ many of our neighbors, and provide character to our main streets. It is important that we do all we can to support them," said Rep. Latimer. "At a time when families and businesses are facing rising costs, these bills will help cut red tape at the Small Business Administration and make sure small businesses have access to the capital they need to succeed."

The bills that passed the House are:

• H.R. 828, the Successful Entrepreneurship for Reservists and Veterans (SERV) Act: The bill would require reports to federal agencies on the veterans interagency task force and access to credit for small businesses owned and controlled by veterans or their spouses.
• H.R. 804, the Rural Small Business Resilience Act: The bill would require the Small Business Administration (SBA) to develop outreach policies to rural communities and make sure rural small businesses have full access to SBA disaster assistance.
• H.R. 754, the Investing in Main Street Act: This bill would align capital investments for SBICs to current banking regulations, which permits investments up to 15%. Currently SBICs cannot take capital investments from banks that have more than 5% of the institution's capital.
• H.R. 788, the DOE and SBA Research Act: This bill would direct the Secretary of Energy and the Small Business Administrator to enter into a memorandum of understanding to carry out cross-cutting and collaborative research and development activities focused on the joint advancement of the shared priorities.
• H.R. 818, the Small Business Procurement and Utilization Reform (SPUR) Act: This bill would require federal agencies to include on their annual scorecard for small business contracting the number of small businesses that receive a prime contract for the first time and are owned and controlled by service-disabled veterans, qualified HUBZone small businesses, small businesses owned by socially and economically disadvantaged individuals, or women-owned small businesses.
• H.R. 832, the Small Business Advocacy Improvements Act: This bill would expand functions of the Office of Advocacy of the SBA to include representing the views and interests of small businesses before foreign governments and international entities whose regulations and trade initiatives may affect small businesses.
• H.R. 825, the Assisting Small Businesses Not Fraudsters Act: This bill would prohibit individuals who have been convicted of a crime involving financial misconduct on certain COVID-19 loans (Paycheck Protection Act, Restaurant Revitalization Fund grants etc) from receiving SBA financial assistance, other than a disaster loan.