An original bill to amend the Small Business Act and the Small Business Investment Act of 1958, and for other purposes.

Summary

Amends the Small Business Act and the Small Business Investment Act of 1958 to increase authorizations to the Small Business Administration (SBA) for the financing of State and local development companies and small business investment companies for FY 1983. Increases authorizations to the SBA for FY 1984 to provide: (1) direct participation loans to assist public or private organizations for the handicapped or handicapped individuals in establishing, acquiring, or operating a small business and loans to disabled veterans; (2) deferred participation loans to State development companies and guarantees of debentures issued by State or local development companies; (3) financing to State and local development companies; (4) direct purchases of debentures, preferred securities, and guarantees of debentures issued by small business investment companies; and (5) funds to defray salaries and expenses of the SBA. Authorizes appropriations to the SBA for FY 1985 to provide: (1) direct participation loans to assist public or private organizations for the handicapped or handicapped individuals in establishing, acquiring, or operating a small business and loans to disabled veterans; (2) deferred participation loans to State development companies and guarantees of debentures issued by State or local development companies; (3) loans to small businesses located in urban or rural areas of high unemployment or low income or owned by low-income individuals; (4) loans to small businesses for energy measures; (5) guarantees of debentures issued by State or local development companies; and (6) direct purchases of debentures, preferred securities, and guarantees of debentures issued by small business investment companies. Authorizes appropriations to the SBA to guarantee sureties against loss pursuant to programs under the Small Business Investment Act of 1958. Prohibits the SBA from making loans or guarantees to small businesses for alterations to such businesses as a result of Government requirements. Authorizes appropriations to the SBA to guarantee loans to small businesses for the planning, design, or installation of pollution control facilities under the Small Business Investment Act of 1958. Authorizes funds to the SBA to provide disaster loans to small businesses. Provides for the payment of SBA administrative expenses from the disaster loan revolving funds. Authorizes funds to the SBA for FY 1985 to provide: (1) direct participation loans to assist public or private organizations for the handicapped or handicapped individuals in establishing, acquiring, or operating a small business and make loans to disabled veterans; (2) deferred participation loans to State development companies and guarantees of debentures issued by State or local development companies; (3) loans to small businesses located in urban or rural areas of high unemployment or low income or owned by low-income individuals; (4) loans to small businesses which design, manufacture, and distribute energy measures; (5) guarantees of debentures issued by State or local development companies; (6) direct purchases of debentures, preferred securities, and guarantee debentures issued by small business investment companies; (7) guarantees to sureties against loss pursuant to programs under the Small Business Investment Act of 1958; (8) lease guarantees under the Small Business Investment Act of 1958; and (9) funds to defray salaries and expenses of the SBA. Amends the Small Business Investment Act of 1958 to authorize the SBA to purchase or guarantee debentures issued by State development companies. Sets forth requirements governing such authority. Amends the Small Business Act to eliminate fiscal year restrictions on the eligibility of nonprofit organizations for assistance under the handicapped procurement program. (Under current law, such organizations are eligible for such assistance during FY 1981, 1982, and 1983.) Requires the SBA to make direct loans, to guarantee loans, debentures, qualified contract payments, and other types of financial assistance, and to guarantee sureties against loss pursuant to programs under the Small Business Act and the Small Business Investment Act of 1958, subject only to the availability of qualified applications for such loans and guarantees and limitations contained in appropriations Acts.

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Documents

3 official files

• Passed House amended

  summary · EN · 15 March 1984

  Open at official source

• Passed Senate amended

  summary · EN · 7 October 1983

  Open at official source

• Introduced in Senate

  summary · EN · 18 May 1983

  Open at official source

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