119-s305

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 305 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 305

To authorize small business loans to finance access to modern business 
 software, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 January 29, 2025

 Mr. Young (for himself, Ms. Rosen, Mr. Budd, Mrs. Shaheen, and Mr. 
 Hickenlooper) introduced the following bill; which was read twice and 
 referred to the Committee on Small Business and Entrepreneurship

_______________________________________________________________________

 A BILL

To authorize small business loans to finance access to modern business 
 software, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Small Business Technological Act of 
2025''.

SEC. 2. ADDITIONAL USES FOR SMALL BUSINESS ADMINISTRATION BUSINESS 
 LOANS.

    (a) In General.--

Section 7

    (a) of the Small Business Act (15 U.S.C. 
636

    (a) ) is amended by adding at the end the following:
 ``

    (38) Access to modern business software.--The 
 Administration may provide loans under this subsection to 
 finance, in whole or in part, business software or cloud 
 computing services, or any such technology, that facilitates 
 business operations, product or service delivery, the 
 processing, payment, or tracking of payroll expenses, human 
 resources, sales and billing functions, or accounting or 
 tracking of supplies, inventory, records and expenses, 
 including business tools that utilize artificial 
 intelligence.''.

    (b) Rule of Construction.--Nothing in the amendment made by 
subsection

    (a) shall be construed to--

    (1) provide that loans made under 

section 7

    (a) of the Small 
 Business Act (15 U.S.C. 636

    (a) ) before the date of enactment of 
 this Act for the purposes described in paragraph

    (38) of such 
 

section 7

    (a) , as added by subsection

    (a) , were not permissible;

    (2) authorize the use of loans made under 

section 7

    (a) of 
 the Small Business Act (15 U.S.C. 636

    (a) ) for research and 
 development purposes; or

    (3) limit the definition of working capital under the Small 
 Business Act (15 U.S.C. 631 et seq.).
 <all>