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United States · Bill · HR

H.R. 3412 (105th)

Year 2000 Readiness and Small Business Programs Restructuring and Reform Act of 1998

openUnited States· United States Congress· EN

Introduced

10 March 1998

Last action

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Status

Message on Senate action sent to the House.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Small Business Investment Company Technical Corrections Act of 1998 - Amends the Small Business Investment Act of 1958 to: (1) remove a requirement that at least 50 percent of the annual program level of approved participating securities under the small business investment company (SBIC) program be reserved for funding with SBICs having private capital of not more than $20 million; (2) provide for the determination of an eligible small business or smaller enterprise that is not required to pay Federal income tax at the corporate level but that is required to pass income through to its shareholders or partners by using a specified formula to compute its after-tax revenues; and (3) require the Small Business Administration to issue SBIC guarantees and trust certificates at periodic intervals of not less than 12 (currently six) months.

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16 official files

Reported to Senate (text)

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