United States · Amendment · SAMDT

SAMDT 197 (107th)

To increase budget authority and outlays in Function 450 (Community and Regional Development) by $2,300,000,000 to establish a venture capital fund to make equity investments in businesses with high job-creating potential located or locating in rural counties that have experienced economic hardship caused by net outmigration of 10 percent or more between 1980 and 1998 and are situated in States in which 25 percent or more of the rural counties have experienced net outmigration of 10 percent or more over the same period, based on Bureau of the Census statistics; to make available $200,000,000 to that fund for each of fiscal years 2002 through 2011; to require a substantial investment from State government and private sources and to guarantee up to 60 percent of each authorized private investment; and to express the sense of the Senate that this funding should be offset by a transfer of $2,300,000,000 from the surplus amounts held by Federal Reserve banks.

Taxation · Budget