Small Business Year 2000 Readiness Act

Small Business Year 2000 Readiness Act - Amends the Small Business Act to direct the Small Business Administration (SBA) to establish a pilot loan guarantee program under which the SBA shall guarantee loans made by eligible lenders to small businesses to address Year 2000 computer problems (Y2K problem), including the repair or acquisition of information technology systems and other automated systems. Limits: (1) the loan amount for each participating small business to $50,000; and (2) the amount which is guaranteed by the SBA to 50 percent of the total loan received from a lender.

Requires the SBA to notify the small business committees at least 30 days in advance of the initiation of any pilot program under such Act or a pilot program which may affect the subsidy rate estimates for a loan program. Requires an annual report to such committees on each pilot program under which loans are guaranteed by the SBA.