S. 3342, The Rural Small Business Enhancement Act of 2008

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S. 3342 would improve access to technology by and increase entrepreneurship among small businesses located in rural communities.

Detailed Summary

Rural Small Business Enhancement Act of 2008 - Amends the Small Business Act to reduce state matching funds requirements for participation in the Federal and State Technology Partnership (FAST) and Small Business Innovation Research (SBIR) programs of the Small Business Administration (SBA).

Revises the SBA's Rural Outreach program (a program to increase states' participation in the SBIR and Small Business Technology Transfer [STTR] programs) to: (1) make eligible for program awards states whose total value of SBIR and STTR contracts awarded during FY2004 was less than $10 million and will match federal funding on a 50% basis; (2) reauthorize the program for FY2009-FY2020; and (3) require award funds to be used to increase state participation in the SBIR and STTR programs.

Requires a report from the SBA Administrator to the congressional small business committees on the number of government-owned computers in possession of, and recently disposed by, the SBA.

Directs the Administrator to establish a pilot program to annually provide up to 1,000 excess government-owned computers to small businesses at no cost or a reduced cost.

Requires the Administrator to hire at least five additional full-time employees for the SBA's Office of Technology.

Directs the Administrator to carry out a rural lending outreach program to provide up to an 85% guaranty of loans of not more than $250,000.

Status of the Legislation

Latest Major Action: 7/26/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Small Business and Entrepreneurship.

Points in Favor

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Points Against

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