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United States · Law · HR

H.R. 3614 (111th)

To provide for an additional temporary extension of programs under the Small Business Act and the Small Business Investment Act of 1958, and for other purposes.

enactedUnited States· United States Congress· EN

Introduced

22 September 2009

Last action

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Status

Became Public Law No: 111-66.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Extends through October 31, 2009, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is currently authorized through September 30, 2009, under the Small Business Act or the Small Business Investment Act of 1958. Amends the American Recovery and Reinvestment Act of 2009 with respect to the Business Stabilization Program (BSP) of Small Business Administration (SBA), which provides loans on a deferred basis to viable small business concerns that have a qualifying small business loan and are experiencing immediate financial hardship. Revises the BSP definition of qualifying small business loan to repeal the exclusion of SBA loan guarantees (or guarantee commitments) made before enactment of such Act. (Thus extends BSP coverage to small business concerns with an older, otherwise excluded SBA loan guarantee or guarantee commitment.) Amends the Small Business Investment Act of 1958 to prohibit a New Markets Venture Capital (NMVC) company receiving an operational assistance grant from issuing SBA-guaranteed debentures for any one company in an aggregate amount greater than 10% of the sum of: (1) the private capital of the NMVC company; and (2) the total amount of leverage projected by the NMVC company in its business plan in effect on the date on which the Administrator granted it final approval to operate as an NMVC.

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Documents

16 official files

Enrolled Bill (text)

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