Small Business Technological Act of 2025

119 S305 IS: Small Business Technological Act of 2025 U.S. Senate 2025-01-29 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. II 119th CONGRESS 1st Session S. 305 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. 1. Short title This Act may be cited as the Small Business Technological Act of 2025 . 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. ).