Small Business Development Act

Empowers the Small Business Administration to enter into agreements with States to make model program revenue-sharing grants to States out of funds appropriated pursuant to this Act for the purposes of: (1) developing and establishing State and local centers to provide technical assistance and other useful and practical advice, information and services to small business concerns; (2) training, where necessary, of personnel to provide such services; and (3) studying the effectiveness of providing such assistance through such small business enterprise of State and local centers.

Stipulates that the Federal share of such grants shall not exceed 50 percent.

Authorizes the appropriation to the Administration for the purposes of this Act of $15,000,000 for fiscal year 1975 and such sums as may be necessary for fiscal years 1976 and 1977.