| Home > 106th Congressional Bills > H.R. 2803 (ih) To amend the Alaska Native Claims Settlement Act to allow shareholder common stock to be transferred to adopted Alaska Native children and their descendants, and for other purposes. [Introduced in House] ...
H.R. 2803 (ih) To amend the Alaska Native Claims Settlement Act to allow shareholder common stock to be transferred to adopted Alaska Native children and their descendants, and for other purposes. [Introduced in House] ...
108th CONGRESS 1st Session H. R. 2802 To reauthorize the Small Business Act and the Small Business Investment Act of 1958, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 21, 2003 Mr. Manzullo (for himself and Ms. Velazquez) introduced the following bill; which was referred to the Committee on Small Business _______________________________________________________________________ A BILL To reauthorize the Small Business Act and the Small Business Investment Act of 1958, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE; TABLE OF CONTENTS. (a) Short Title.--This Act may be cited as the ``Small Business Reauthorization and Manufacturing Revitalization Act of 2003''. (b) Table of Contents.--The table of contents for this Act is as follows: Sec. 1. Short title; table of contents. TITLE I--SMALL BUSINESS INVESTMENT ACT OF 1958 AMENDMENTS AND RELATED PROVISIONS Sec. 101. State defined. Sec. 102. Small manufacturer defined. Sec. 103. Maximum participating securities rate. Sec. 104. Maximum leverage for buying operations. Sec. 105. Maximum aggregate amount of leverage. Sec. 106. Investments in smaller enterprises. Sec. 107. Actions of administrator with respect to capital impairment. Sec. 108. Conditions for distribution. Sec. 109. Modification of aggregate limitation. Sec. 110. Notice and comment rulemaking. Sec. 111. Low-income geographic area definition. Sec. 112. Unmet equity investment needs of certain small manufacturers. Sec. 113. Participation agreement requirement. Sec. 114. Final approval requirement. Sec. 115. Conditionally approved companies. Sec. 116. Applications for new markets venture capital companies. Sec. 117. Authorization of appropriations. Sec. 118. Repeal of lease guarantee authority. Sec. 119. Amendment of congressional findings relating to State development companies. Sec. 120. Qualification of State development companies. Sec. 121. Job requirements; definition. Sec. 122. Small business concern loan limitations. Sec. 123. Approval requirement. Sec. 124. Effective date for termination of certain fees. Sec. 125. Accredited lenders program. Sec. 126. Premier certified lenders program. Sec. 127. Foreclosure and liquidation of loans. Sec. 128. Additions to title V. Sec. 129. Regulations to carry out amendments to loan program. TITLE II--SMALL BUSINESS ACT AMENDMENTS AND RELATED PROVISIONS. Sec. 201. Short title. Sec. 202. Findings; statements of policy. Sec. 203. Definitions. Sec. 204. Small Business Administration. Sec. 205. Financial management. Sec. 206. Organization and staff. Sec. 207. Loan programs. Sec. 208. Government contract and business development assistance for small business concerns, etc. Sec. 209. Training and assistance. Sec. 210. Contracting assistance; etc. Sec. 211. Authorization of appropriations; etc. Sec. 212. Small business development centers. Sec. 213. Assignment of employees of the Office of International Trade. Sec. 214. Supervisory and enforcement authority for small business lending companies. Sec. 215. Reauthorization of Paul D. Coverdell drug-free workplace program. Sec. 216. Women's business center program. Sec. 217. HUBZone program. Sec. 218. Other repeals and reorganizations. Sec. 219. Rules of construction. TITLE III--OTHER PROVISIONS Sec. 301. Report regarding national database of small manufacturers. Sec. 302. Workforce transformation plan. Sec. 303. Repeal of certain provisions of the Disaster Relief Act of 1970. Sec. 304. Regulations on size standards of franchisees. Sec. 305. Temporary small business development center assistance to Indian tribe members, Native Alaskans, and Native Hawaiians. Sec. 306. Temporary small business development center assistance for vocational and technical entrepreneurship development. Sec. 307. Very small business concern contract data collection. Sec. 308. Very small business concern pilot program for competition award to home-based business. Sec. 309. Socially and economically disadvantaged business. Sec. 310. Study and report on effectiveness of aggregate limitations on amount of assistance to any single enterprise. Sec. 311. Study and report on coordination of new markets venture capital program with new markets tax credit program. Sec. 312. Study and report on premier certified lenders program. TITLE I--SMALL BUSINESS INVESTMENT ACT OF 1958 AMENDMENTS AND RELATED PROVISIONS SEC. 101. STATE DEFINED. Paragraph (4) of section 103 of the Small Business Investment Act of 1958 (15 U.S.C. 662) is amended to read as follows: ``(4) the term `State' has the meaning given such term in section 3 of the Small Business Act;''. SEC. 102. SMALL MANUFACTURER DEFINED. Section 103 of the Small Business Investment Act of 1958 (15 U.S.C. 662) is amended-- (1) in paragraph (16), by striking ``and'' after the semicolon at the end; (2) in paragraph (17), by striking the period at the end and inserting ``; and''; and (3) by adding at the end the following new paragraph: ``(18) the term `small manufacturer' has the meaning given that term in section 3 of the Small Business Act (15 U.S.C. 632).''. SEC. 103. MAXIMUM PARTICIPATING SECURITIES RATE. Section 303(g)(2) of the Small Business Investment Act of 1958 (15 U.S.C. 683(g)(2)) is amended by striking ``1.38 percent'' and inserting ``1.52 percent''. SEC. 104. MAXIMUM LEVERAGE FOR BUYING OPERATIONS. Section 303(b)(2) of the Small Business Investment Act of 1958 (15 U.S.C. 683(b)(2)) is amended by striking subparagraphs (A) and (B) and inserting the following new subparagraphs: ``(A) In general.--The outstanding leverage made available to a licensee under section 301(c) shall not exceed 300 percent of private capital, up to a maximum of $115,000,000, except that the maximum shall be $150,000,000 if the licensee certifies in writing that more than 50 percent of its aggregate dollar amount of financings are in small manufacturers. ``(B) Commonly controlled licensees.-- ``(i) In the case of 2 or more licensees that are commonly controlled (as determined by the Administrator), upon application to the Administrator, the outstanding leverage made available shall not exceed $150,000,000, except that the maximum shall be $185,000,000 if the licensees certify in writing that more than 50 percent of their aggregate dollar amount of financings are in small manufacturers. The Administrator shall have 10 business days to approve or disapprove an application under the preceding sentence. Approval or disapproval is final agency action for purposes of chapter 7 of title 5, United States Code. ``(ii) Not later than 120 days after the enactment of this subparagraph, the Administrator shall prescribe regulations providing standards and conditions for increases in leverage, including the standards for determining common control of licensees. ``(iii) Until regulations are prescribed under clause (ii), the Administrator shall approve the application of each commonly controlled licensee under the definition of common control in section 107.50 of title 13, Code of Federal Regulations, as in effect on January 1, 2003.''. SEC. 105. MAXIMUM AGGREGATE AMOUNT OF LEVERAGE. Section 303(b) of the Small Business Investment Act of 1958 (15 U.S.C. 683(b)) is amended by striking paragraph (4) and all that follows through the end of the sentence beginning ``For purposes of'' after that paragraph. SEC. 106. INVESTMENTS IN SMALLER ENTERPRISES. Sections 303(d) of the Small Business Investment Act of 1958 (15 U.S.C. 683(d)) is amended to read as follows: ``(d) Investments in Smaller Enterprises.--As a condition of approval of an application for leverage, the Administrator shall require a licensee to certify in writing that not less than 25 percent of the licensee's aggregate dollar amount of financings will be provided to smaller enterprises.''. SEC. 107. ACTIONS OF ADMINISTRATOR WITH RESPECT TO CAPITAL IMPAIRMENT. Section 303(e) of the Small Business Investment Act of 1958 (15 U.S.C. 683(e)) is amended-- (1) by striking ``and'' at the end of paragraph (1); (2) by striking the period at the end of paragraph (2) and inserting ``; and''; and (3) by adding at the end the following new paragraphs: ``(3) shall not, for reasons of capital impairment, restrict the operations of the licensee or direct the use of the licensee's capital to any purpose other than the purposes for which the license was granted; and ``(4) notwithstanding paragraph (3), may take action to restrict the operations of, or liquidate a licensee for failure to comply with any other provision of the law or regulation promulgated pursuant to this Act.''. SEC. 108. CONDITIONS FOR DISTRIBUTION. Sections 303(g)(9) of the Small Business Investment Act of 1958 (15 U.S.C. 683(g)(9)) is amended to read as follows: ``(9) Subject to subparagraphs (A), (B), and (C), after making distributions under paragraph (8), a company with outstanding participating securities may distribute the balance of income to its investors, if there are no accumulated and unpaid prioritized payments. ``(A) Amounts received by the Administration under this paragraph and paragraph 8 shall be applied first as prepayment of the principal amount of the outstanding participating securities or debentures of the company at the time of such distribution and then to the allocation under paragraph (11). ``(B) Distributions under this paragraph shall be made to private investors and to the Administration in the ratio of private capital to leverage as of the day before the distribution until the outstanding participating securities or debentures of the company are paid in full, after which any remaining distributions under this paragraph shall be made to private investors and to the Administration in the ratio that is provided for the allocation of profits in paragraph (11). ``(C) The Administrator shall prescribe such regulations as are required to assure that management fees for the company are not unreasonably reduced due to a reduction in combined capital as a result of distributions made under this paragraph.''. SEC. 109. MODIFICATION OF AGGREGATE LIMITATION. Section 306(a) of the Small Business Investment Act of 1958 (15 U.S.C. 686(a)) is amended by inserting ``(and not including any obligations or securities issued under section 7(a) of the Small Business Act or title V of this Act)'' after ``under the provisions of this title''. SEC. 110. NOTICE AND COMMENT RULEMAKING. Section 308(c) of the Small Business Investment Act of 1958 (15 U.S.C. 687) is amended by adding at the end the following: ``Any rules or regulations issued under this Act, other than those relating to agency management or personnel, shall be issued pursuant to section 553(b) of title 5, United States Code.''. SEC. 111. LOW-INCOME GEOGRAPHIC AREA DEFINITION. (a) In General.--Section 351(3)(A)(ii)(I) of the Small Business Investment Act of 1958 (15 U.S.C. 689(3)(A)(ii)(I)) is amended by striking ``50 percent'' and all that follows through the end and inserting ``the median family income in that tract does not exceed 80 percent of the greater of statewide median family income or the metropolitan area median family income; or''. (b) Application of Amended Definition.--The definition of low- income geographic area in section 351(3) of the Small Business Investment Act of 1958 (15 U.S.C. 689(3)), as amended by subsection (a), shall apply to private capital raised under section 354(d)(1) of the Small Business Investment Act of 1958 (15 U.S.C. 689c(d)(1)) before, on, or after the effective date of the amendment made by subsection (a). SEC. 112. UNMET EQUITY INVESTMENT NEEDS OF CERTAIN SMALL MANUFACTURERS. Section 352(2) of the Small Business Investment Act of 1958 (15 U.S.C. 689a(2)) is amended by inserting after ``small enterprises'' the following: ``and small manufacturers''.
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