Home > 106th Congressional Bills > H.R. 5668 (ih) To repeal provisions of Federal law requiring labeling on saccharin containing foods. [Introduced in House] ...H.R. 5668 (ih) To repeal provisions of Federal law requiring labeling on saccharin containing foods. [Introduced in House] ...
updating of previously reported information by electronic means. Such
requirements shall be designed to minimize the burden on small
businesses.''.
SEC. 114. RURAL OUTREACH PROGRAM EXTENSION.
(a) Extension of Termination Date.--Section 501(b)(2) of the Small
Business Reauthorization Act of 1997 (15 U.S.C. 638 note; 111 Stat.
2622) is amended by striking ``2001'' and inserting ``2005''.
(b) Extension of Authorization of Appropriations.--Section 9(s)(2)
of the Small Business Act (15 U.S.C. 638(s)(2)) is amended by striking
``for fiscal year 1998, 1999, 2000, or 2001'' and inserting ``for each
of the fiscal years 2000 through 2005,''.
TITLE II--BUSINESS LOAN PROGRAMS
SEC. 201. SHORT TITLE.
This title may be cited as the ``Small Business Loan Improvement
Act of 2000''.
SEC. 202. LEVELS OF PARTICIPATION.
Section 7(a)(2)(A) of the Small Business Act (15 U.S.C.
636(a)(2)(A)) is amended--
(1) in paragraph (i) by striking ``$100,000'' and inserting
``$150,000''; and
(2) in paragraph (ii)--
(A) by striking ``80 percent'' and inserting ``85
percent''; and
(B) by striking ``$100,000'' and inserting
``$150,000''.
SEC. 203. LOAN AMOUNTS.
Section 7(a)(3)(A) of the Small Business Act (15 U.S.C.
636(a)(3)(A)) is amended by striking ``$750,000,'' and inserting,
``$1,000,000 (or if the gross loan amount would exceed $2,000,000),''.
SEC. 204. INTEREST ON DEFAULTED LOANS.
Section 7(a)(4)(B) of the Small Business Act (15 U.S.C.
636(a)(4)(B)) is amended by adding at the end the following:
``(iii) Applicability.--Clauses (i) and
(ii) shall not apply to loans made on or after
October 1, 2000.''.
SEC. 205. PREPAYMENT OF LOANS.
Section 7(a)(4) of the Small Business Act (15 U.S.C. 636(a)(4)) is
further amended--
(1) by striking ``(4) Interest rates and fees.--'' and
inserting ``(4) Interest rates and prepayment charges.--''; and
(2) by adding at the end the following:
``(C) Prepayment charges.--
``(i) In general.--A borrower who prepays
any loan guaranteed under this subsection shall
remit to the Administration a subsidy
recoupment fee calculated in accordance with
clause (ii) if--
``(I) the loan is for a term of not
less than 15 years;
``(II) the prepayment is voluntary;
``(III) the amount of prepayment in
any calendar year is more than 25
percent of the outstanding balance of
the loan; and
``(IV) the prepayment is made
within the first 3 years after
disbursement of the loan proceeds.
``(ii) Subsidy recoupment fee.--The subsidy
recoupment fee charged under clause (i) shall
be--
``(I) 5 percent of the amount of
prepayment, if the borrower prepays
during the first year after
disbursement;
``(II) 3 percent of the amount of
prepayment, if the borrower prepays
during the second year after
disbursement; and
``(III) 1 percent of the amount of
prepayment, if the borrower prepays
during the third year after
disbursement.''.
SEC. 206. GUARANTEE FEES.
Section 7(a)(18) of the Small Business Act (15 U.S.C. 636(a)(18))
is amended to read as follows:
``(18) Guarantee fees.--
``(A) In general.--With respect to each loan
guaranteed under this subsection (other than a loan
that is repayable in 1 year or less), the
Administration shall collect a guarantee fee, which
shall be payable by the participating lender, and may
be charged to the borrower, as follows:
``(i) A guarantee fee equal to 2 percent of
the deferred participation share of a total
loan amount that is not more than $150,000.
``(ii) A guarantee fee equal to 3 percent
of the deferred participation share of a total
loan amount that is more than $150,000, but not
more than $700,000.
``(iii) A guarantee fee equal to 3.5
percent of the deferred participation share of
a total loan amount that is more than $700,000.
``(B) Retention of certain fees.--Lenders
participating in the programs established under this
subsection may retain not more than 25 percent of a fee
collected under subparagraph (A)(i).''.
SEC. 207. LEASE TERMS.
Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is
further amended by adding at the end the following:
``(28) Leasing.--In addition to such other lease
arrangements as may be authorized by the Administration, a
borrower may permanently lease to one or more tenants not more
than 20 percent of any property constructed with the proceeds
of a loan guaranteed under this subsection, if the borrower
permanently occupies and uses not less than 60 percent of the
total business space in the property.''.
SEC. 208. APPRAISALS FOR LOANS SECURED BY REAL PROPERTY.
(a) Small Business Act.--Section 7(a) of the Small Business Act (15
U.S.C. 636(a)) is amended by adding at the end the following:
``(29) Real estate appraisals.--With respect to a loan
under this subsection that is secured by commercial real
property, an appraisal of such property by a State licensed or
certified appraiser--
``(A) shall be required by the Administration in
connection with any such loan for more than $250,000;
or
``(B) may be required by the Administration or the
lender in connection with any such loan for $250,000 or
less, if such appraisal is necessary for appropriate
evaluation of creditworthiness.''.
(b) Small Business Investment Act of 1958.--Section 502(3)(E) of
the Small Business Investment Act of 1958 (15 U.S.C. 696(3)(E)) is
amended--
(1) by striking ``The collateral'' and inserting the
following:
``(i) In general.--The collateral''; and
(2) by adding at the end the following:
``(ii) Appraisals.--With respect to
commercial real property provided by the small
business concern as collateral, an appraisal of
the property by a State licensed or certified
appraiser--
``(I) shall be required by the
Administration before disbursement of
the loan if the estimated value of that
property is more than $250,000; or
``(II) may be required by the
Administration or the lender before
disbursement of the loan if the
estimated value of that property is
$250,000 or less, and such appraisal is
necessary for appropriate evaluation of
creditworthiness.''.
SEC. 209. SALE OF GUARANTEED LOANS MADE FOR EXPORT PURPOSES.
Section 5(f)(1)(C) of the Small Business Act (15 U.S.C.
634(f)(1)(C)) is amended to read as follows:
``(C) each loan, except each loan made under section
7(a)(14), shall have been fully disbursed to the borrower prior
to any sale.''.
SEC. 210. MICROLOAN PROGRAM.
(a) In General.--Section 7(m) of the Small Business Act (15 U.S.C.
636(m)) is amended--
(1) in paragraphs (1)(B)(iii) and (3)(E), by striking
``$25,000'' each place it appears and inserting ``$35,000'';
(2) in paragraphs (1)(A)(iii)(I), (3)(A)(ii), and
(4)(C)(i)(II), by striking ``$7,500'' each place it appears and
inserting ``$10,000'';
(3) in paragraph (3)(E), by striking ``$15,000'' and
inserting ``$20,000'';
(4) in paragraph (5)(A)--
(A) by striking ``25 grants'' and inserting ``55
grants''; and
(B) by striking ``$125,000'' and inserting
``$200,000'';
(5) in paragraph (6)(B), by striking ``$10,000'' and
inserting ``$15,000''; and
(6) in paragraph (7), by striking subparagraph (A) and
inserting the following:
``(A) Number of participants.--Under the program
authorized by this subsection, the Administration may
fund, on a competitive basis, not more than 300
intermediaries.''.
(b) Conforming Amendments.--Section 7(m)(11)(B) of the Small
Business Act (15 U.S.C. 636(m)(11)(B)) is amended by striking
``$25,000'' and inserting ``$35,000''.
TITLE III--CERTIFIED DEVELOPMENT COMPANY PROGRAM
SEC. 301. SHORT TITLE.
This title may be cited as the ``Certified Development Company
Program Improvements Act of 2000''.
SEC. 302. WOMEN-OWNED BUSINESSES.
Section 501(d)(3)(C) of the Small Business Investment Act of 1958
(15 U.S.C. 695(d)(3)(C)) is amended by inserting before the comma ``or
women-owned business development''.
SEC. 303. MAXIMUM DEBENTURE SIZE.
Section 502(2) of the Small Business Investment Act of 1958 (15
U.S.C. 696(2)) is amended to read as follows:
``(2) Loans made by the Administration under this section
shall be limited to $1,000,000 for each such identifiable small
business concern, except loans meeting the criteria specified
in section 501(d)(3), which shall be limited to $1,300,000 for
each such identifiable small business concern.''.
SEC. 304. FEES.
Section 503(f) of the Small Business Investment Act of 1958 (15
U.S.C. 697(f)) is amended to read as follows:
``(f) Effective Date.--The fees authorized by subsections (b) and
(d) shall apply to financings approved by the Administration on or
after October 1, 1996, but shall not apply to financings approved by
the Administration on or after October 1, 2003.''.
SEC. 305. PREMIER CERTIFIED LENDERS PROGRAM.
Section 217(b) of the Small Business Administration Reauthorization
and Amendments Act of 1994 (Public Law 103-403, 15 U.S.C. 697 note)
(relating to section 508 of the Small Business Investment Act of 1958)
is repealed.
SEC. 306. SALE OF CERTAIN DEFAULTED LOANS.
Section 508 of the Small Business Investment Act of 1958 (15 U.S.C.
697e) is amended--
(1) in subsection (a), by striking ``On a pilot program
basis, the'' and inserting ``The'';
(2) by redesignating subsections (d) through (i) as
subsections (e) through (j), respectively;
(3) in subsection (f) (as redesignated by paragraph (2)),
by striking ``subsection (f)'' and inserting ``subsection
(g)'';
(4) in subsection (h) (as redesignated by paragraph (2)),
by striking ``subsection (f)'' and inserting ``subsection
(g)''; and
(5) by inserting after subsection (c) the following:
``(d) Sale of Certain Defaulted Loans.--
``(1) Notice.--If, upon default in repayment, the
Administration acquires a loan guaranteed under this section
and identifies such loan for inclusion in a bulk asset sale of
defaulted or repurchased loans or other financings, it shall
give prior notice thereof to any certified development company
which has a contingent liability under this section. The notice
shall be given to the company as soon as possible after the
financing is identified, but not less than 90 days before the
date the Administration first makes any records on such
financing available for examination by prospective purchasers
prior to its offering in a package of loans for bulk sale.
``(2) Limitations.--The Administration shall not offer any
loan described in paragraph (1) as part of a bulk sale unless
it--
``(A) provides prospective purchasers with the
opportunity to examine the Administration's records
with respect to such loan; and
``(B) provides the notice required by paragraph
(1).''.
SEC. 307. LOAN LIQUIDATION.
(a) Liquidation and Foreclosure.--Title V of the Small Business
Investment Act of 1958 (15 U.S.C. 695 et seq.) is amended by adding at
the end the following:
``SEC. 510. FORECLOSURE AND LIQUIDATION OF LOANS.
``(a) Delegation of Authority.--In accordance with this section,
the Administration shall delegate to any qualified State or local
development company (as defined in section 503(e)) that meets the
eligibility requirements of subsection (b)(1) the authority to
foreclose and liquidate, or to otherwise treat in accordance with this
section, defaulted loans in its portfolio that are funded with the
proceeds of debentures guaranteed by the Administration under section
503.
``(b) Eligibility for Delegation.--
``(1) Requirements.--A qualified State or local development
company shall be eligible for a delegation of authority under
subsection (a) if--
``(A) the company--
``(i) has participated in the loan
liquidation pilot program established by the
Small Business Programs Improvement Act of 1996
(15 U.S.C. 695 note), as in effect on the day
before promulgation of final regulations by the
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