(1)

redesignating section 49 as section 50; and

(2)

inserting after section 48 the following new section:

49. Office of Territorial Affairs

(a) Establishment

There is established in the Administration an Office of Territorial Affairs (hereafter in this section referred to as the Office), which shall establish a working relationship with small business concerns in the United States territories by targeting programs of the Administration relating to entrepreneurial development, contracting, disaster assistance, and capital access.

(b) Assistant administrator

(1) In general

The Office shall be administered by an Assistant Administrator who shall be an employee in the competitive service.

(2) Qualifications

The Assistant Administrator shall have—

(A)

knowledge of the governmental affairs, socioeconomic conditions, and political relationships of the territories; and

(B)

experience providing tailored small business development assistance to small business concerns located in the territories.

(3) Duties

The Assistant Administrator shall—

(A)

formulate policies, and promote policies and existing programs, to better address entrepreneurial development, capital access, disaster assistance, and contracting needs of small business concerns located in the territories;

(B)

serve as a liaison between small business concerns located in the territories and the Administration, resource partners, lenders, Federal and State agencies, and other interested persons;

(C)

periodically review and assess programs administered by and services from the Administration that are available to small business concerns located in the territories to ensure that—

(i)

the services offered under a lending program, entrepreneurial development program, or disaster assistance program administered by the Administration are adequate to address the challenges such small business concerns face; and

(ii)

such small business concerns have adequate access to contracting opportunities with the Federal Government and procurement programs administered by the Administration; and

(D)

host webinars and outreach events in the territories. as appropriate, including inviting representatives from district offices of the Administration, resource partners, Federal and State agencies, and other interested people to participate in such webinars and outreach events.

(c) Report

Not later than 180 days after the date of the enactment of this section and annually thereafter, the Assistant Administrator shall submit to the Committee of Small Business of the House of Representatives and the Committee on Small Business and Entrepreneurship of the Senate a report on the activities of the Office during the one year period preceding the date of submission of the report, including—

(1)

operational details of the activities of the Office;

(2)

a summary of the activities conducted by the Office;

(3)

the total number of small business concerns assisted by the Office, disaggregated by the type of assistance provided by the Office and by territory;

(4)

to the extent practicable, the total number of new businesses established as a result of assistance from the Office, disaggregated by territory; and

(5)

recommendations to help improve assistance provided by the Administration in serving the needs of small business concerns located in the territories.

(d) Definitions

In this section:

(1) Assistant administrator

The term Assistant Administrator means the Assistant Administrator of the Office of Territorial Affairs appointed under subsection (b).

(2) Resource partner

The term resource partner means—

(A)

a small business development center;

(B)

a women’s business center described in section 29;

(C)

a chapter of the Service Corps of Retired Executives authorized by section 8(b)(1); and

(D)

a Veteran Business Outreach Center described in section 32.

(3) Territories

The term territories means Puerto Rico, Guam, American Samoa, United States Virgin Islands, and the Commonwealth of the Northern Mariana Islands.