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] ...


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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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