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Senate Committee to Prioritize Federal Research Partnerships at Markup

Tuesday, April 26, 2016  
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Senate Committee to Prioritize Federal Research Partnerships at Markup

 

Government funded research partnerships for small businesses with Federal agencies will highlight Wednesday’s Senate Committee markup. The SBIR/STTR Reauthorization Act of 2016, introduced by Ranking Member Jeanne Shaheen (D-NH) and Chair David Vitter (R-LA), permanently reauthorizes the Small business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. These programs provide federal funding for small businesses to partner with Federal agencies to meet research and development goals in the technology sector. Small businesses can use this opportunity to develop their product or service with the ultimate goal being commercialization of the technology either in the private sector or through Federal procurement opportunities.

 

The Committee will also consider bills that will:

 

  • Repeal the 25/75 Rule in SBA’s Microloan program, which will allow microlenders to utilize technical assistance grants without pre- and post-loan restrictions. Currently, microlenders can only use 25% of their technical assistance funds to counsel business owners before making a loan and 75% once the loan is made
  • Increase the length of time businesses can be eligible for the HUBZone Program by changing the redesignation period from 3 years to 7 years.
  • Increase patent and trademark access for small businesses by coordinating outreach efforts between SBA and the US Patent and Trademark Office
  • Prioritize Small Business Investment Company (SBIC) licensing in disaster areas
  • Empower SBA’s Office of Advocacy to make an objective assessment of the impact that regulations will have on small businesses.

  

For more details or to view the mark up online, please visit the Committee’s markup website.

 

 


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