Small Business Programs Reauthorization and Amendments Acts of 1997

Summary

TABLE OF CONTENTS: Title I: Authorizations Title II: Financial Programs Subtitle A: General Business Loans Subtitle B: Certified Development Company Program Subtitle C: Small Business Investment Company Program Subtitle D: Microloan Program Title III: Women's Business Enterprises Title IV: Competitiveness Program Title V: Miscellaneous Provisions Small Business Assistance Programs Reauthorization Amendments Acts of 1997 - Title I: Authorizations - Amends the Small Business Act (the Act) to authorize appropriations and provide funding levels for FY 1998 through 2000 for various programs under the Act and the Small Business Investment Act of 1958 (SBIA). Title II: Financial Programs - Subtitle A: General Business Loans - Directs the Administrator of the Small Business Administration (SBA) to prescribe final regulations permitting bank and nonbank lenders to sell or securitize the nonguaranteed portion of general business loans made under the Act that were originated or purchased by the lender, provided there is recourse to the lender for any defaulted loans. Directs the Administrator to verify a general business loan applicant's criminal background through the Federal Bureau of Investigation. Subtitle B: Certified Development Company Program - Amends the SBIA with respect to the certified development company (CDC) program to: (1) increase the loan fee under such program; (2) require such fee to be established annually by the SBA in the minimal amount necessary to reduce to zero the cost to the SBA of purchasing and guaranteeing debentures under the CDC program; and (3) extend through FY 2000 the authority for such program. (Sec. 222) Amends the SBIA with respect to the premier certified lenders program to: (1) repeal a provision limiting to 15 the number of CDCs authorized to participate; and (2) revise eligibility conditions and loss reserve requirements for participating CDCs (requiring replenishment of loss reserves paid to the SBA by a CDC). Requires participating CDCs to establish a goal of processing a minimum of at least 50 percent of their total loan applications pursuant to the program. (Sec. 229) Repeals a provision of the Small Business Administration Reauthorization and Amendments Act of 1994 which establishes requirements for the CDC program. Empowers a premier certified lender to authorize, close, service, foreclose, litigate, and liquidate loans made under the program. (Sec. 232) Allows up to 25 percent of any SBIA project for plant acquisition, construction, conversion, or expansion to be permanently leased by the assisted small business, as long as such business occupies and uses at least 55 percent of the space in the project after lease execution. Provides seller financing and collateral requirements under such projects. Prohibits a project loan from being denied or delayed for approval by the Administrator due to concerns over preexisting environmental conditions, as long as the CDC complies with certain requirements. Subtitle C: Small Business Investment Company Program - Amends provisions of the Act and the SBIA relating to the Small Business Investment Company (SBIC) Program to: (1) allow amounts obligated under the SBIC to be committed for five fiscal years (currently obligated in one fiscal year and committed in the next); (2) allow an SBIC-participating company to make quarterly (currently, only annual) payments to its shareholders up to the amount of their tax liability; (3) revise a leverage fee payment schedule; (4) direct the SBA to issue guarantees and trust certificates (representing debentures issued by SBICs) at least every six (currently, three) months; (5) allow the maximum amount of outstanding leverage made available to a participating SBIC to be increased annually to reflect changes in the Consumer Price Index; (6) limit to $90 million the total amount of leverage issued to any one company; (7) require each leverage applicant to make certain certifications with respect to the amount of financings to be provided solely to smaller enterprises; (8) authorize the Administrator to prescribe fees for participation as an SBIC; and (9) provide for the deposit and use of SBIC examination fees. Subtitle D: Microloan Program - Amends provisions of the Act relating to the Microloan Program to: (1) increase to $3.5 million the total amount authorized to be outstanding and committed to any one intermediary under the Program; (2) revise loan loss reserve levels required of participating intermediaries under the Program during various years of participation; and (3) extend through FY 2000 the authorization of appropriations for the Program. Title III: Women's Business Enterprises - Amends the Women's Business Ownership Act of 1988 to: (1) require a report from the Interagency Committee on Women's Business Enterprise to be transmitted to the President through the SBA and to include a status report on Committee progress in meeting its responsibilities and duties; (2) require the National Women's Business Council to submit to the President and the small business committees an annual activities report; (3) extend the deadline for presidential appointment of a chairperson for the Council; (4) increase from nine to 14 the number of Council members; and (5) increase, and extend through FY 2000, the authorization of appropriations under such Act. (Sec. 305) Authorizes the SBA to provide financial assistance to private organizations to conduct five-year projects for the benefit of small businesses owned and controlled by women. Outlines participation conditions and Federal and non-Federal contribution requirements. Directs each applicant to submit a five-year plan to the SBA on proposed fund raising and training activities. Directs the SBA to evaluate and rank applicants based on predetermined selection criteria stated in terms of relative importance. Requires the Administrator to report annually to the small business committees on projects conducted. Authorizes appropriations. (Sec. 306) Establishes the position of Assistant Administrator for the Office of Women's Business Ownership with specified duties in the administration of Office programs and services for women entrepreneurs. Directs the SBA to develop and implement an annual programmatic and financial examination of each women's business center. Title IV: Competitiveness Program - Amends the Small Business Competitiveness Demonstration Program Act of 1988 to: (1) extend permanently the small business competitiveness demonstration program; (2) require participating agencies to monitor the attainment of their small business participation goals on an annual (currently, quarterly) basis; (3) extend permanently required annual reports to the Congress concerning such program; and (4) extend permanently (currently terminates at the end of FY 1997) small business participation in contracting opportunities for dredging. Title V: Miscellaneous Provisions - Authorizes the Administrator to make grants to women's business centers for the establishment of small business development centers (SBDCs). Requires each SBDC to annually review and coordinate public and private partnerships and cosponsorships with the SBA in order to more efficiently leverage available resources on a national and State basis. Increases: (1) the maximum amount of funds available to a State SBDC participant (with specified exceptions and conditions); and (2) the services provided under the SBDC program. Requires any contract under such program which is not renewed or extended to be made on a competitive basis. Prohibits a participating SBDC from imposing or collecting a fee for the provision of counseling services under the program. (Sec. 502) Includes as an SBDC service the provision to small business owners of access to a wide variety of export-related information through computer linkages. Authorizes FY 1998 and 1999 appropriations for the export information service. (Sec. 503) Amends the Small Business Administration Reauthorization and Amendment Act of 1988 to extend through FY 2000 the pilot preferred surety bond guarantee program. (Sec. 504) Amends the Small Business Administration Reauthorization and Amendments Act of 1994 to extend through FY 2000 a pilot program under which the Administrator provides increased access to Federal contract opportunities for very small businesses.

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7 official files

• Passed House amended

  summary · EN · 29 September 1997

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• Reported in House (text)

  Reported in House · EN · 8 September 1997

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• Reported in House (PDF)

  Reported in House · EN · 8 September 1997

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• Reported to House with amendment(s)

  summary · EN · 8 September 1997

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• Introduced in House (text)

  Introduced in House · EN · 25 July 1997

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• Introduced in House (PDF)

  Introduced in House · EN · 25 July 1997

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• Introduced in House

  summary · EN · 25 July 1997

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