Sec. 305. Requirements on use of assistance by resource partners
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The following requirements shall apply with respect to any covered assistance provided to a resource partner by the Small Business Administration: Notwithstanding any other provision of law, a resource partner may use not more than an amount equal to 10 percent of the annual budget of such resource partner for marketing (including website development and maintenance) for upcoming events or counseling opportunities for small business concerns. A resource partner may not use any amounts provided through any such covered assistance for fundraising for a political entity or a nonprofit organization.
The Administrator shall terminate covered assistance if amounts provided through such covered assistance are used in violation of subsection (a)(2). This section and the requirements of this section shall apply— with respect to covered assistance that is a grant or a prize, that is provided on or after the date of the enactment of this Act; and with respect to covered assistance that is a cooperative agreement or a contract, that is entered into on or after the date of the enactment of this Act.
In this section: The term covered assistance means financial assistance in the form of a grant, prize, cooperative agreement, or contract. The term resource partner has the meaning given such term in section 3 of the Small Business Act ( 15 U.S.C. 632 ), as amended by this Act.
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Sec. 305
Requirements on use of assistance by resource partners
Cite15 USC 632
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