A bill to amend the Small Business Act and for other purposes.

Summary

Amends the Small Business Act to increase the program levels for FY 1984 for: (1) direct and immediate participation loans for small business plant acquisition, construction, conversion, or expansion; (2) direct purchases of stock; (3) direct purchases and guarantees of debentures and purchases of preferred securities with respect to small business investment companies; (4) disaster loans; and (5) payment guarantees for the installation of pollution control facilities by small businesses. Decreases the program level for FY 1984 for deferred participation loans and debenture guarantees for small business plant acquisition, construction, conversion, or expansion and small business development companies. Decreases the funding for FY 1984 for surety bond guarantees under the Small Business Investment Act of 1958. Increases the funds available for FY 1984 for SBA salaries and expenses. Specifies the program levels authorized for FY 1985 for: (1) direct and immediate participation loans for small business plant acquisition, construction, conversion, or expansion; (2) deferred participation loans and debenture guarantees for small business plant acquisition, construction, conversion, or expansion and small business development companies; (3) direct purchase of stock; (4) direct purchases and guarantees of debentures and purchases of preferred securities with respect to small business investment companies; (5) disaster loans; and (6) payment guarantees for the installation of pollution control facilities by small businesses. Authorizes appropriations for FY 1985 for administrative expenses. Authorizes appropriations for FY 1985 to the Small Business Administration (SBA) and makes funds available from such authorization for: (1) loans for small business plant acquisition, construction, conversion, or expansion, loans for small business development companies, direct stock purchases, and purchases and guarantees of small business investment company debentures and preferred securities; (2) surety bond guarantees; (3) lease guarantees; and (4) SBA salaries and expenses. Limits the transfer of funds authorized for SBA salaries and expenses. Authorizes the SBA to purchase stock from small business corporations to the extent that equity capital is not available from private sources on reasonable terms. Prohibits the purchase of stock from a small business corporation if the total amount outstanding and committed to such corporation from the business loan and investment fund exceeds $750,000. Requires the SBA to conduct grant programs for training or upgrading the skills of employees or potential employees of small businesses. Sets forth the requirements for the receipt of such grants and the formula for distributing the grants to the States. Requires that Federal training programs for the unemployed be modified to provide small businesses with assistance. Authorizes the SBA to provide financial assistance to public and private organizations to conduct international trade fairs for the benefit of small businesses having export potential. Amends the Small Business Investment Act of 1958 to prohibit the SBA from using the source or nature of the funds used to finance a small business development project as a criteria to approve or reject the guarantee of a small business development company debenture. Amends the Small Business Act to require that direct loan funds for small business plant acquisition, construction, conversion, or expansion be allocated among the SBA's regional and district offices on at least a quarterly basis. Provides that with respect to loans to small businesses located in areas with high proportions of unemployed or low-income individuals or owned by low-income individuals, any reasonable doubt as to repayment shall be resolved in favor of the loan applicant.

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1 official file

• Introduced in House

  summary · EN · 16 March 1983

  Open at official source

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