May 30, 2008

Faced with an impending May 23, 2008 expiration date of the current Small Business Administration Continuing Resolution (CR), on May 20, the U.S. House of Representatives approved a short-term extension of the Small Business Act through March 20, 2009.

The bill (S.3029) was introduced by U.S. Senate Committee on Small Business and Entrepreneurship Chairman John Kerry (D-Mass.). The Senate passed the bill by Unanimous Consent on May 15, 2008.

On May 23, President George W. Bush signed the bill into law.

S. 2902, the SBA Reauthorization and Improvements Act of 2008
A comprehensive reauthorization bill recently was introduced in the Senate by Sens. Kerry, Olympia Snowe (R-Maine), and Carl Levin (D-Mich). S. 2902, the SBA Reauthorization and Improvements Act of 2008 is a compilation of four separate Small Business Administration (SBA) reauthorization bills.

Although three of the four measures were unanimously approved by the Committee on Small Business and Entrepreneurship, they have been blocked from consideration and passage by the full Senate for almost one year due to the philosophical objections of a single senator. The fourth bill, introduced by Snowe, is considered non-controversial.

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