Small Business Reauthorization and Amendment Act of 1994

Summary

TABLE OF CONTENTS: Title I: Authorizations Title II: Financial Assistance Programs Title III: Size Standards and Bond Guarantees Title IV: Management Assistance Title V: Relief from FFB Debenture Prepayment Penalties Title VI: Development of Women-Owned Businesses Title VII: Miscellaneous Amendments Small Business Reauthorization and Amendment Act of 1994 - Title I: Authorizations - Amends the Small Business Act to authorize appropriations for specified programs under such Act and the Small Business Investment Act of 1958. Title II: Financial Assistance Programs - Revises provisions regarding the microloan program to authorize the Small Business Administration (SBA), during FY 1995 through 1997 and in lieu of making direct loans to intermediaries, to participate on a deferred basis of up to 100 percent on loans made to intermediaries by for-profit or non-profit entities. Limits financing on a deferred basis to ten intermediaries in urban and rural areas, respectively, per year. Limits loans to ten-year terms. (Sec. 202) Repeals specified State limitations with respect to the microloan demonstration program. (Sec. 203) Increases to 240 the number of microloan demonstration programs authorized to be funded by the SBA. (Sec. 206) Removes a limitation on the term of financing provided to enable small businesses to develop foreign markets. (Sec. 209) Amends the Small Business Investment Act of 1958 to authorize the SBA to establish an Accredited Lenders Program for qualified State and local development companies that: (1) have been active participants in the development company program for at least the last 12 months; (2) have qualified personnel who are knowledgeable in SBA's lending policies and procedures for such program; (3) have the ability to process, close, and service financing for plant and equipment; (4) have a loss rate on their debentures that is acceptable to the SBA; (5) have a history of submitting complete and accurate debenture guarantee application packages; and (6) have demonstrated the ability to serve small business credit needs for financing plant and equipment. Requires the SBA to expedite the processing of loan applications or servicing actions submitted by a qualified State or local development company that has been designated as an accredited lender. Suspends or revokes such designations for failures to meet the eligibility criteria or for violations of SBA regulations. (Sec. 210) Authorizes the SBA to establish a Premier Lenders Program for certified development companies which meet requirements of this section. Authorizes the SBA to designate a participant in the accredited lenders program as a premier lender if such company: (1) has been an active participant in the accredited lenders program for at least the last 12 months (authorizes a waiver of such requirement prior to January 1, 1996, if the applicant is qualified to participate in the program); (2) has a history of submitting adequately analyzed debenture guarantee application packages to the SBA; and (3) agrees to assume and reimburse the SBA for five percent of any loss substained on account of default by the company in the payment on a debenture issued by the company and guaranteed by the SBA. Authorizes the SBA, upon designation of a company as a premier lender, to permit a lender to approve loans to be funded with the proceeds of and to authorize the guarantee of a debenture issued by such company. Suspends or revokes designations of State or local development companies as premier lenders for failures to meet this section's requirements or SBA regulations. (Sec. 211) Directs the SBA Administrator to appoint an Investment Advisory Council for the Specialized Small Business Investment Company Program. Requires the Council to report on the venture capital needs of socially or economically disadvantaged small business concerns and needed Federal incentives to assist the private sector in meeting such needs. (Sec. 212) Reserves 50 percent of the annual program level of participating securities for funding small business investment companies (SBICs) with private capital of less than $20 million. (Sec. 213) Directs the SBA to report on the status and disposition of SBICs and provide a complete accounting of their assets, loss rates, and valuation of the SBIC program investments. Title III: Size Standards and Bond Guarantees - Revises size standard criteria for purposes of determining whether a business is a small business concern. (Sec. 303) Extends the SBA's authority to authorize sureties to issue, monitor, and service bonds subject to SBA's guarantee until September 30, 1997. (Sec. 304) Requires the SBA to carry out a pilot program to provide procurement opportunities to very small business concerns. Title IV: Management Assistance - Authorizes Small Business Development Centers to enter into contracts with Federal agencies to provide specific assistance to small business concerns if the contract is approved in advance by the Deputy Associate Administrator of the Small Business Development Center program. (Sec. 404) Extends the authorization of appropriations for the Central European enterprise development program. (Sec. 405) Authorizes the Administrator to carry out a mobile resource pilot program to use vehicles to provide technical assistance and other services to traditionally underserved populations. Authorizes appropriations. Title V: Relief from FFB Debenture Prepayment Penalties - Small Business Prepayment Penalty Relief Act of 1994 - Authorizes the SBA, upon the request of the issuer and the concurrence of the borrower, to transfer to the Federal Financing Bank such sums as necessary to reduce the interest rate on a debenture issued by a certified development company. Requires the Bank, upon receipt of such payment, to modify the interest rate for such debentures. Permits debentures authorized under provisions of the Small Business Investment Act of 1958 regarding private debenture sales and pooling to be used to refinance debentures issued by State or local development companies if the amount of the new financing is limited to amounts necessary to repay the existing debenture, including any prepayment penalty imposed by the Bank. (Sec. 503) Authorizes the SBA, upon the request of the issuer, to transfer to the Bank such sums as necessary to reduce the interest rate on a debenture issued by a SBIC under title III of such Act. Requires the Bank, upon receipt of such payment, to modify the interest rate for such debentures. (Sec. 504) Authorizes the SBA, upon the request of the issuer, to modify the interest rate on a debenture issued by an SBIC financing disadvantaged small business concerns. (Sec. 505) Requires the SBA, upon enactment of an appropriations Act providing funds to carry out this Act, to evaluate the outstanding portfolio of debentures which are eligible for interest rate relief under this Act. Authorizes appropriations. Title VI: Development of Women-Owned Businesses - Amends the Women's Business Ownership Act of 1988 to establish an Interagency Committee on Women's Business Enterprise. (Sec. 606) Extends the SBA's authority to provide financial assistance to women's small business demonstration projects. (Sec. 607) Establishes an Office of Women's Business Ownership within the SBA. (Sec. 609) Authorizes appropriations for the development of women's business enterprises. Title VII: Miscellaneous Amendments - Permits small business contracts awarded to the handicapped to be extended for up to two additional years. (Sec. 705) Authorizes the Administrator to carry out a manufacturing modernization pilot program for promoting the award of Federal procurement contracts to small business concerns that participate in certified manufacturing application and education centers. Authorizes appropriations. (Sec. 706) Denies small business assistance to individuals who are not lawfully within the United States. (Sec. 708) Directs the Chief Counsel for Advocacy of the SBA to study and report to the Congress on the impact of Federal regulatory paperwork and tax requirements on small business.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 14 July 1994

   Reported

   Committee Consideration and Mark-up Session Held and Ordered to be Reported Prior to Introduction ?Amended?.

   Source: Committee

2. 20 July 1994

   Introduced

   Referred to the House Committee on Small Business.

   Source: IntroReferral

3. 20 July 1994

   Introduced

   Introduced in House

   Source: IntroReferral

4. 20 July 1994

   Introduced

   Introduced in House

   Source: IntroReferral

5. 21 July 1994

   Calendars

   Placed on the Union Calendar, Calendar No. 337.

   Source: Calendars

6. 21 July 1994

   Reported

   Reported (Amended) by the Committee on Small Business. H. Rept. 103-616.

   Source: Committee

7. 21 July 1994

   Reported

   Reported (Amended) by the Committee on Small Business. H. Rept. 103-616.

   Source: Committee

8. 22 July 1994

   Floor

   Mr. Gordon notified the House that Members should submit copies of proposed amendments to the bill to the Committee on Rules no later than Noon on Wednesday, July 27, 1994.

   Source: Floor

9. 28 July 1994

   Reported

   Rules Committee Resolution H. Res. 494 Reported to House. Rule provides for consideration of H.R. 4801 with 1 hour of general debate. Previous question shall be considered as ordered except motion to recommit. Providing for the consideration of the bill in the Committee of the Whole. Measure will be read by section. Specified amendments are in order. In lieu of the amendments recommended by the Committee on Small Business now printed in the bill, it shall be in order to consider as an original bill for the purpose of amendment the amendment in the nature of a substitute recommended by the Committee on Small Business, as modified by the amendments printed in part 1 of the report accompanying this resolution. No other amendment to the bill shall be in order except those printed in part 2 of the report, if offered in the order and manner specified.

   Source: Floor

10. 29 July 1994

    Passed

    Rule H. Res. 494 passed House.

    Source: Floor

11. 21 September 1994

    Floor

    Laid on the table. See S. 2060 for further action.

    Source: Floor

12. 21 September 1994

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

13. 21 September 1994

    Vote

    On passage Passed by the Yeas and Nays: 370 - 48 (Roll no. 428).

    Source: Floor

14. 21 September 1994

    Floor

    The Speaker designated the Honorable Melvin L. Watt to act as Chairman of the Committee.

    Source: Floor

15. 21 September 1994

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 370 - 48 (Roll no. 428).

    Source: Floor

16. 21 September 1994

    Vote

    On motion to recommit with instructions Failed by the Yeas and Nays: 176 - 242 (Roll no. 427). (consideration: CR H9368-9370)

    Source: Floor

17. 21 September 1994

    Floor

    The previous question on the motion to recommit with instructions was ordered without objection.

    Source: Floor

18. 21 September 1994

    Floor

    Mr. Kim moved to recommit with instructions to Small Business.

    Source: Floor

19. 21 September 1994

    Passed

    The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.

    Source: Floor

20. 21 September 1994

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

21. 21 September 1994

    Floor

    The House rose from the Committee of the Whole House on the state of the Union to report H.R. 4801.

    Source: Floor

22. 21 September 1994

    Floor

    House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 494 and Rule XXIII.

    Source: Floor

23. 21 September 1994

    Floor

    Rule provides for consideration of H.R. 4801 with 1 hour of general debate. Previous question shall be considered as ordered except motion to recommit. Providing for the consideration of the bill in the Committee of the Whole. Measure will be read by section. Specified amendments are in order. In lieu of the amendments recommended by the Committee on Small Business now printed in the bill, it shall be in order to consider as an original bill for the purpose of amendment the amendment in the nature of a substitute recommended by the Committee on Small Business, as modified by the amendments printed in part 1 of the report accompanying this resolution. No other amendment to the bill shall be in order except those printed in part 2 of the report, if offered in the order and manner specified.

    Source: Floor

24. 21 September 1994

    Floor

    Considered under the provisions of rule H. Res. 494. (consideration: CR H9355-9370)

    Source: Floor

Votes

No vote records are attached yet.

Versions

• Reported in House · 21 July 1994 · Download file
• Introduced in House · 20 July 1994 · Download file

Documents

7 official files

• Passed House amended

  summary · EN · 21 September 1994

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• Reported in House (text)

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• Reported to House with amendment(s)

  summary · EN · 21 July 1994

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• Introduced in House (text)

  Introduced in House · EN · 20 July 1994

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• Introduced in House (PDF)

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• Introduced in House

  summary · EN · 20 July 1994

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Sponsors

• Rep. LaFalce, John J. [D-NY-29] · D · Sponsor
• Rep. Smith, Neal Edward [D-IA-4] · D · Sponsor
• Rep. Skelton, Ike [D-MO-4] · D · Sponsor
• Rep. Mazzoli, Romano L. [D-KY-3] · D · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Rep. Bilbray, James H. [D-NV-1] · D · Sponsor
• Rep. Mfume, Kweisi [D-MD-7] · D · Sponsor
• Rep. Klink, Ron [D-PA-4] · D · Sponsor
• Rep. Roybal-Allard, Lucille [D-CA-40] · D · Sponsor
• Rep. Hilliard, Earl F. [D-AL-7] · D · Sponsor
• Rep. Thompson, Bennie G. [D-MS-2] · D · Sponsor
• · hssm00 · Standing

Related records

• related to → Providing for the consideration of the bill (H.R. 4801) to amend the Small Business Act, and for other purposes.
• related to ← Small Business Administration Reauthorization and Amendments Act of 1994
• amends ← An amendment to require that applicants for SBA financial assistance, including direct loans and loan guarantees, must certify that they are not in violation of any child support order as a condition for receiving the assistance.
• amends ← An amendment to transfer $10 million in FY 1996 from the direct microloan program in the bill to the guaranteed microloan pilot program. The amendment also provides for the transfer in FY 1997 of $20 million from the direct microloan program to the guaranteed microloan pilot program. The effect of the amendment would be a reduction of the bill's authorization for direct microloans from $195 million to $185 million in FY 1996, and from $270 million to $250 million in FY 1997. At the same time the funding for the pilot program of guaranteed microloans would be increased from $20 million to $30 million in FY 1996 and from $20 million to $40 million in FY 1997.
• amends ← An amendment to make reductions in the bill's authorization for venture capital funding under the Small Business Investment Company (SBIC) and Specialized Small Business Investment Company (SSBIC) programs. The amendment decreases the bill's authorization of the SBIC participating security program for $500 million to $400 million in FY 1995; from $750 million to $650 million in FY 1996; and from $1.125 billion to $900 million in FY 1997. The amendment decreases the bill's authorization of the SBIC debenture program from $230 million to $200 million in FY 1995; from $350 million to $210 million in FY 1996; and from $500 million to $220 million in FY 1997. The amendment decreases the bill's authorization of the SSBIC preferred stock program from $33 million to $23 million in FY 1995; from $39 million to $24 million in FY 1996; and from $45 million to $25 million in FY 1997. The amendment also decreases the bill's authorization of the SSBIC guarantee program from $55 million to $44 million in FY 1995; from $55 million to $46 million in FY 1996; and from $55 million to $48 million in FY 1997.