A bill to amend the Small Business Act and the Small Business Investment Act of 1958.

Summary

Amends the Small Business Act to increase the authorization for funding small businesses, State and local development companies, and small business investment companies for FY 1983 and 1984. Requires the Small Business Administration (SBA) to guarantee loans, debentures, qualified contract payments, and other types of financial assistance and to guarantee sureties against loss pursuant to programs under such Act and the Small Business Investment Act of 1958, subject only to the availability of qualified applications for such guarantees and limitations contained in appropriations Acts. Amends the Small Business Investment Act of 1958 to require that guarantees of qualified contract payments by the SBA be issued in the case of pollution control facilities or property when such property is acquired with proceeds from tax-free industrial revenue bonds. (Currently, issuance is discretionary in such cases.) Prohibits the SBA from establishing eligibility criteria for surety bond guarantees based upon the amount of the bond or upon a percentage related to previously completed contracts. Requires the SBA to examine each application for such a guarantee on a case-by-case basis in order to determine the appropriate guarantee. Amends the Small Business Act to revise the maximum interest rate on SBA loans made on a deferred basis. Requires the SBA to keep records of all applications for, or inquiries about, the availability of funding for financial assistance under the Small Business Act and for guarantees under the Small Business Investment Act of 1958. Requires the SBA to notify the Senate and House Small Business Committees before reprograming amounts authorized in appropriations Acts and before implementing any reorganization. Repeals provisions dealing with the SBA's authority to make: (1) trade adjustment loans; (2) loans to handicapped persons and organizations for the handicapped; (3) loans to small businesses located in urban or rural areas with high unemployment and low incomes or owned by low-income individuals; and (4) loans to small businesses for solar energy and energy conservation measures.

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Versions

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Documents

3 official files

• Passed House amended

  summary · EN · 8 June 1982

  Open at official source

• Reported to House with amendment(s)

  summary · EN · 17 May 1982

  Open at official source

• Introduced in House

  summary · EN · 6 April 1982

  Open at official source

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