Small Business Capital Enhancement Act of 1993

reportedUnited States· United States Congress· EN

Introduced

2 March 1993

Last action

21 September 1993 · Reported

Status

Committee on Banking. Provisions of measure incorporated into measure S. 1275 ordered to be reported.

Summary

Small Business Capital Enhancement Act of 1993 - Establishes the Small Business Capital Enhancement Program to enhance the availability of financing for small business concerns. Authorizes any State to apply to the Secretary of Housing and Urban Development for approval as a participating State eligible for reimbursement. Sets forth application approval criteria. Provides that a non-participating State that has its own capital access program providing portfolio insurance for business loans (based on a separate loss reserve fund for each financial institution) may apply to be approved as a participating State. Specifies that: (1) if a State is approved, each financial institution with a particular agreement in effect with the State shall immediately be considered a participating financial institution; (2) reimbursements may be made in connection with all contributions to the reserve funds by the State with respect to lending that occurs after the Secretary approves the State; (3) if an amended participation agreement is required to secure participation approval, contributions subject to reimbursement shall include only those contributions made to a reserve fund with respect to loans enrolled after an amended participation agreement becomes effective; and (4) a State with an existing program that is approved may continue to implement the program utilizing the reserve funds accumulated under the State program. Prohibits the Secretary from approving a State until at least $50 million has been appropriated for reimbursements. Requires an approved State that wishes to amend its form of participation agreement and continue as a participating State to submit such amendment for review by the Secretary. Provides that any such amendment shall become effective only after approval. Establishes requirements with respect to the terms of participation agreements. Sets forth reporting requirements. Provides for reimbursement by the Secretary of participating States, based on specified formulas. Requires a participating State that withdraws funds from a reserve fund pursuant to terms of the participation agreement to reimburse the Secretary according to a specified formula. Authorizes appropriations.

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

Timeline

2 March 1993
Introduced
Read twice and referred to the Committee on Banking.
Source: IntroReferral
2 March 1993
Introduced
Sponsor introductory remarks on measure. (CR S2226-2227)
Source: IntroReferral
2 March 1993
Introduced
Introduced in Senate
Source: IntroReferral
4 March 1993
Committee
Subcommittee on Securities. Hearings held.
Source: Committee
9 September 1993
Committee
Committee on Banking. Hearings held. Hearings printed: S.Hrg. 103-294.
Source: Committee
21 September 1993
Reported
Committee on Banking. Provisions of measure incorporated into measure S. 1275 ordered to be reported.
Source: Committee

Votes

No vote records are attached yet.

Versions

Introduced in Senate · 2 March 1993 · Download file

Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 2 March 1993
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Introduced in Senate (PDF)
Introduced in Senate · EN · 2 March 1993
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Introduced in Senate
summary · EN · 2 March 1993
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
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Related records

related to ← Community Development Banking and Financial Institutions Act of 1994

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/103rd-congress/senate-bill/478
Open data entity: https://api.congress.gov/v3/bill/103/s/478
us · 103-s-478 · source updated 26 August 2025