Section 1. Short title
This Act may be cited as the Badge-to-Business Act.
Section 2. Express loans for qualified career law enforcement officers
Section 7(a)(31) of the Small Business Act (15 U.S.C. 636(a)(31)) is amended by adding at the end the following new subparagraph:
(i) In general
Except as provided in clause (ii), the Administrator may not collect a guarantee fee described in paragraph (18) in connection with a loan made under this paragraph to a qualified career law enforcement officer on or after January 1, 2027.
(ii) Exception
The Administrator may waive the requirements of clause (i) if the cost to the Administration of making such loans is greater than zero for a fiscal year, and such cost is directly attributable to the cost of guaranteeing such loans.
(iii) Qualified career law enforcement officer defined
In this subparagraph, the term qualified career law enforcement officer means an individual who, at the time of application for an express loan, has completed not less than 10 years of service as a career law enforcement officer (as defined in section 1709 of the Omnibus Crime Control and Safe Streets Act of 1968 (34 U.S.C. 10389)) and—
(I) if currently employed as a career law enforcement officer, is not the subject of a pending criminal investigation or administrative proceeding involving alleged misconduct relating to the individual’s official duties; or
(II) if separated from service, was not, at the time of such separation, the subject of a pending criminal investigation or administrative proceeding involving alleged misconduct relating to the individual’s official duties.