A bill to amend the Small Business Investment Act of 1958 to provide for the investment of temporarily unneeded funds, to modify the authority of the Small Business Administration regarding financing, and to statutorily establish the eligibility of Asian Pacific Americans to participate in programs under section 8(a) of the Small Business Act.

Summary

Amends the Small Business Investment Act of 1958 to transfer the authority to invest moneys in federally-guaranteed bonds from the (Treasury) surety bond fund to the (Treasury) qualified contract fund. Amends the Small Business Act to authorize the Administrator of the Small Business Administration to delegate certain responsibilities respecting deferred participation loans to participating lending institutions, including eligibility determination, loan monitoring, collection, and liquidation. Includes "Asian Pacific Americans" within the definition of socially disadvantaged groups for purposes of such Act.

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1 official file

• Introduced in House

  summary · EN · 7 May 1980

  Open at official source

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