Additions to policy goals for the development company program

Section 501(d)(3) of the Small Business Investment Act of 1958 (15 U.S.C. 695(d)(3)) is amended— (1) by redesignating subparagraphs (A) through (L) as subparagraphs (B) through (M), respectively; (2) by inserting before subparagraph (B), as so redesignated, the following: (A) workforce development through work-based or work-integrated training, which shall be satisfied by demonstrating that a small business concern that is a subject of the project has— (i) a documented in-house training program, the duration of which is not shorter than 12 weeks; or (ii) entered into a contract with an entity— (I) to provide trained applicants for any open position of employment at the small business concern; and (II) that ensures that any applicant provided to the small business concern under subclause (I) has undergone not fewer than 12 weeks of training that is relevant to the open position described in that subclause,; (3) in subparagraph (L), as so redesignated, by striking producers, or and inserting producers,; (4) in subparagraph (M), as so redesignated, by striking the period at the end and inserting a comma; (5) by inserting after subparagraph (M), as so redesignated, the following: (N) aid revitalizing of an area for which a disaster has been declared or determined under subparagraph (A), (B), (C), or (E) of section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) during the five-year period beginning on the date on which the disaster was declared or determined under such subparagraph, except that the Administrator may extend such period if, for each extension of such period, the Administrator determines that such extension will facilitate the recovery of such area from such disaster and such extension is for a period of one year, or (O) expansion of small business concerns with 10 or fewer employees.; and (6) in the flush text following subparagraph (O), as added by paragraph (5), by striking subparagraphs (J) and (K) and inserting subparagraphs (K) and (L).

Section 501(d)(3) of the Small Business Investment Act of 1958 (15 U.S.C. 695(d)(3)) is amended— (1) by redesignating subparagraphs (A) through (L) as subparagraphs (B) through (M), respectively; (2) by inserting before subparagraph (B), as so redesignated, the following: (A) workforce development through work-based or work-integrated training, which shall be satisfied by demonstrating that a small business concern that is a subject of the project has— (i) a documented in-house training program, the duration of which is not shorter than 12 weeks; or (ii) entered into a contract with an entity— (I) to provide trained applicants for any open position of employment at the small business concern; and (II) that ensures that any applicant provided to the small business concern under subclause (I) has undergone not fewer than 12 weeks of training that is relevant to the open position described in that subclause,; (3) in subparagraph (L), as so redesignated, by striking producers, or and inserting producers,; (4) in subparagraph (M), as so redesignated, by striking the period at the end and inserting a comma; (5) by inserting after subparagraph (M), as so redesignated, the following: (N) aid revitalizing of an area for which a disaster has been declared or determined under subparagraph (A), (B), (C), or (E) of section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) during the five-year period beginning on the date on which the disaster was declared or determined under such subparagraph, except that the Administrator may extend such period if, for each extension of such period, the Administrator determines that such extension will facilitate the recovery of such area from such disaster and such extension is for a period of one year, or (O) expansion of small business concerns with 10 or fewer employees.; and (6) in the flush text following subparagraph (O), as added by paragraph (5), by striking subparagraphs (J) and (K) and inserting subparagraphs (K) and (L).