S.Amdt. 5836

This amendment, submitted by Ms. Rosen, aims to add protection provisions for small business owners who serve in the reserves and are deployed.

Purpose and Changes

The amendment proposes the following changes and additions to the bill:

• Federal Economic Assistance: For programs where eligibility or assistance amounts are based on employee numbers or compensation, the calculation can include employees hired to handle the owner's essential duties. This applies if the reserve member owner is deployed for at least 30 days. It covers employees hired from 90 days before the owner starts active duty until 90 days after they stop. The owner must provide a copy of their active duty orders.

• MREIDL Eligibility: It amends the Small Business Act to ensure that eligibility for certain loans is determined without considering if the business is eligible for, or has received, other Federal economic assistance.

• Credit Discrimination: It makes it unlawful for creditors to discriminate against the credit terms or conditions offered to a small business owned by a reserve member because of a military deployment or its temporary effects. Violations are treated as violations of the Equal Credit Opportunity Act.