113 STAT. 236 PUBLIC LAW 106-50—AUG. 17, 1999 "(3) shall report to and be responsible directly to the Administrator.". SEC. 202. NATIONAL VETERANS BUSINESS DEVELOPMENT CORPORA- TION. (a) IN GENERAL.— The Small Business Act (15 U.S.C. 631 et seq.) is amended by inserting after section 32 (as added by this Act) the following: 15 USC 657c. "SEC. 33. NATIONAL VETERANS BUSINESS DEVELOPMENT CORPORA- TION. "(a) ESTABLISHMENT. —T here is established a federally chartered corporation to be known as the National Veterans Business Development Corporation (in this section referred to as the 'Corporation') which shall be incorporated under the laws of the District of Columbia and which shall have the powers granted in this section. "(b) PURPOSES OF THE CORPORATION.—The purposes of the Corporation shall be— "(1) to expand the provision of and improve access to technical assistance regeu-ding entrepreneurship for the Nation's vetergins; and "(2) to assist veterans, including service-disabled vetereins, with the formation and expansion of small business concerns by working with and organizing public euid private resources, including those of the Small Business Administration, the Department of Veterans Affairs, the Department of Labor, the Department of Commerce, the Department of Defense, the Service Corps of Retired Executives (described in section 8(b)(1)(B) of this Act), the Small Business Development Centers (described in section 21 of this Act), and the business development staffs of each department and agency of the United States. "(c) BOARD OF DIRECTORS.— "(1) IN GENERAL.— The management of the Corporation shall be vested in a Board of Directors composed of nine voting members and three nonvoting ex officio members. President. "(2) APPOINTMENT OF VOTING MEMBERS. — The President shall, after considering recommendations which shall be proposed by the Chairmen and Ranking Members of the Committees on Small Business and the Committees on Veterems Affairs of the House of Representatives and the Senate, appoint United States citizens to be voting members of the Board, not more than five of whom shall be members of the same political party. "(3) Ex OFFICIO MEMBERS. —The Administrator of the Small Business Administration, the Secretary of Defense, and the Secretary of Veterans Affairs shall serve as the nonvoting ex officio members of the Board of Directors. Deadline. "(4) INITIAL APPOINTMENTS. —The initial members of the Board of Directors shall be appointed not later than 60 days after the date of enactment of this Act. "(5) CHAIRPERSON.—The members of the Board of Directors appointed under paragraph (2) shall elect one such member to serve as chairperson of the Board of Directors for a term of 2 years. "(6) TERMS OF APPOINTED MEMBERS.—
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