Calendar No. 167

103D CONGRESS

1ST SESSION S. 1274

A BILL

Administration programs, and for other purposes.

To authorize funding for certain Small Business

JULY 28 (legislative day, JUNE 30), 1993

Reported with an amendment and an amendment to the

title
II

Calendar No. 167

103D CONGRESS

1ST SESSION S. 1274

To authorize funding for certain Small Business Administration programs,

and for other purposes.

IN THE SENATE OF THE UNITED STATES

JULY 21 (legislative day, JUNE 30), 1993

Mr. BUMPERS (for himself, Mr. WOFFORD, Mr. KOHL, Mr. DOMENICI, Mr.

LIEBERMAN, Mr. HEFLIN, Mr. WELLSTONE, Mr. HOLLINGS, Mr. LEVIN,

Mr. CHAFEE, Mr. DODD, Mr. MITCHELL, Mr. KERRY, and Ms.

MOSELEY-BRAUN) introduced the following bill; which was read twice and

referred to the Committee on Small Business

JULY 28 (legislative day, JUNE 30), 1993

Reported by Mr. BUMPERS, with an amendment and an amendment to the

title

[Strike out all after the enacting clause and insert the part printed in italic]

A BILL

To authorize funding for certain Small Business

Administration programs, and for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3 SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

4 (a) SHORT TITLE.—This Act may be cited as the

5 ‘‘Small Business Credit Reform Act of 1993’’.
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1 (b) TABLE OF CONTENTS.—The table of contents for

2 this Act is as follows:

Sec. 1. Short title; table of contents.

Sec. 2. General authorizations.

Sec. 3. Microloan program authorizations.

Sec. 4. Extension of State limitation on interest rates.

Sec. 5. Guaranteed business loan program amendments.

Sec. 6. Interest rate for Preferred Lenders Program.

Sec. 7. Microloan program amendments.

Sec. 8. Regulations.

Sec. 9. White House Conference on Small Business.

3 SEC. 2. GENERAL AUTHORIZATIONS.

4 (a) FINANCINGS FOR FISCAL YEAR 1993.—Section

5 20(g)(2) of the Small Business Act (15 U.S.C. 631 note)

6 is amended—

7 (1) by striking ‘‘$7,030,000,000’’ and inserting

8 ‘‘$8,455,000,000’’;

9 (2) in subparagraph (A), by striking

10 ‘‘$6,200,000,000’’ and inserting ‘‘$7,500,000,000’’;

11 and

12 (3) in subparagraph (C), by striking

13 ‘‘$775,000,000’’ and inserting ‘‘$900,000,000’’.

14 (b) FINANCINGS FOR FISCAL YEAR 1994.—Section

15 20(i)(2) of the Small Business Act (15 U.S.C. 631 note)

16 is amended—

17 (1) by striking ‘‘$8,083,000,000’’ and inserting

18 ‘‘$11,258,000,000’’;

19 (2) in subparagraph (A), by striking

20 ‘‘$7,200,000,000’’ and inserting ‘‘$8,000,000,000’’;
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1 (3) in subparagraph (B), by striking ‘‘and’’ at

2 the end;

3 (4) by redesignating subparagraph (C) as sub4 paragraph (D);

5 (5) by inserting after subparagraph (B) the fol6 lowing new subparagraph:

7 ‘‘(C) $2,000,000,000 in loans, as provided

8 in section 7(a)(21); and’’; and

9 (6) in subparagraph (D), as redesignated, by

10 striking ‘‘$825,000,000’’ and inserting

11 ‘‘$1,200,000,000’’.

12 (c) FINANCINGS FOR FISCAL YEAR 1995.—Section

13 20 of the Small Business Act (15 U.S.C. 631 note) is

14 amended by striking subsections (k) and (l), as added by

15 section 405(3) of the Small Business Credit and Business

16 Opportunity Enhancement Act of 1992, and inserting the

17 following:

18 ‘‘(l) The following program levels are authorized for

19 fiscal year 1995:

20 ‘‘(1) For the programs authorized by this Act,

21 the Administration is authorized to make

22 $13,360,000,000 in deferred participation loans and

23 other financings. Of such sum, the Administration is

24 authorized to make—
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1 ‘‘(A) $9,000,000,000 in general business

2 loans, as provided in section 7(a);

3 ‘‘(B) $3,000,000,000 in loans, as provided

4 in section 7(a)(21);

5 ‘‘(C) $60,000,000 in loans, as provided in

6 section 7(a)(12)(B); and

7 ‘‘(D) $1,300,000,000 in financings, as pro8 vided in section 7(a)(13) of this Act and section

9 504 of the Small Business Investment Act of

10 1958.

11 ‘‘(2)(A) For the programs authorized by title

12 III of the Small Business Investment Act of 1958,

13 the Administration is authorized to make

14 $23,000,000 in purchases of preferred securities,

15 $244,000,000 in guarantees of debentures, of which

16 $44,000,000 is authorized in guarantees of deben17 tures from companies operating pursuant to section

18 301(d) of such Act, and $400,000,000 in guarantees

19 of participating securities.

20 ‘‘(B) There are authorized to be appropriated

21 to the Administration for fiscal year 1995, such

22 sums as may be necessary to carry out subpara23 graph (A), including salaries and expenses of the

24 Administration.
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1 ‘‘(3) For the programs authorized by part B of

2 title IV of the Small Business Investment Act of

3 1958, the Administration is authorized to enter into

4 guarantees of not more than $2,180,000,000.’’.

5 (d) FINANCINGS FOR FISCAL YEAR 1996.—Section

6 20 of the Small Business Act (15 U.S.C. 631 note) is

7 amended—

8 (1) by striking subsections (m) and (n) and in9 serting the following:

10 ‘‘(m) The following program levels are authorized for

11 fiscal year 1996:

12 ‘‘(1) For the programs authorized by this Act,

13 the Administration is authorized to make

14 $14,960,000,000 in deferred participation loans and

15 other financings. Of such sum, the Administration is

16 authorized to make—

17 ‘‘(A) $10,000,000,000 in general business

18 loans, as provided in section 7(a);

19 ‘‘(B) $3,500,000,000 in loans, as provided

20 in section 7(a)(21);

21 ‘‘(C) $60,000,000 in loans, as provided in

22 section 7(a)(12)(B); and

23 ‘‘(D) $1,400,000,000 in financings, as pro24 vided in section 7(a)(13) of this Act and section
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1 504 of the Small Business Investment Act of

2 1958.

3 ‘‘(2)(A) For the programs authorized by title

4 III of the Small Business Investment Act of 1958,

5 the Administration is authorized to make

6 $24,000,000 in purchases of preferred securities,

7 $256,000,000 in guarantees of debentures, of which

8 $46,000,000 is authorized in guarantees of deben9 tures from companies operating pursuant to section

10 301(d) of such Act, and $550,000,000 in guarantees

11 of participating securities.

12 ‘‘(B) There are authorized to be appropriated

13 to the Administration for fiscal year 1996, such

14 sums as may be necessary to carry out subpara15 graph (A), including salaries and expenses.

16 ‘‘(3) For the programs authorized by part B of

17 title IV of the Small Business Investment Act of

18 1958, the Administration is authorized to enter into

19 guarantees not to exceed $2,275,000,000.’’;

20 (2) in subsection (o), by striking ‘‘(o) The’’ and

21 inserting ‘‘(n) The’’; and

22 (3) in subsection (p)—

23 (A) by striking ‘‘(p) There’’ and inserting

24 ‘‘(2) There’’, and indenting appropriately; and
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1 (B) by striking ‘‘subsection (o)’’ and in2 serting ‘‘paragraph (1)’’.

3 SEC. 3. MICROLOAN PROGRAM AUTHORIZATIONS.

4 Section 20(k) of the Small Business Act (15 U.S.C.

5 631 note) is amended—

6 (1) by striking paragraph (1);

7 (2) by redesignating paragraphs (2) and (3) as

8 paragraphs (1) and (2), respectively;

9 (3) in paragraph (1), as redesignated, by strik10 ing ‘‘and’’ at the end;

11 (4) in paragraph (2), as redesignated—

12 (A) in subparagraph (A), by striking

13 ‘‘$60,000,000’’ and inserting ‘‘$80,000,000’’;

14 (B) in subparagraph (B), by striking

15 ‘‘$35,000,000’’ and inserting ‘‘$30,000,000’’;

16 and

17 (C) by striking the period at the end and

18 inserting a semicolon; and

19 (5) by adding at the end the following new

20 paragraphs:

21 ‘‘(3) for fiscal year 1995—

22 ‘‘(A) $100,000,000 to be used for the pro23 vision of loans; and

24 ‘‘(B) $45,000,000 to be used for the provi25 sion of grants; and
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1 ‘‘(4) for fiscal year 1996—

2 ‘‘(A) $120,000,000 to be used for the pro3 vision of loans; and

4 ‘‘(B) $55,000,000 to be used for the provi5 sion of grants.’’.

6 SEC. 4. EXTENSION OF STATE LIMITATION ON INTEREST

7 RATES.

8 Section 112(c) of the Small Business Administration

9 Reauthorization and Amendments Act of 1988 (Public

10 Law 100–590; 102 Stat. 2996) is amended—

11 (1) by striking paragraph (2); and

12 (2) by striking ‘‘(1) IN GENERAL.—’’.

13 SEC. 5. GUARANTEED BUSINESS LOAN PROGRAM AMEND14 MENTS.

15 (a) ADDITIONAL GUARANTEE FEES.—

16 (1) IN GENERAL.—Section 7(a)(18) of the

17 Small Business Act (15 U.S.C. 636(a)(18)) is

18 amended—

19 (A) by inserting ‘‘(A)’’ after ‘‘(18)’’; and

20 (B) by adding at the end the following new

21 subparagraph:

22 ‘‘(B) In addition to fees collected under sub23 paragraph (A), the Administration shall collect a fee

24 charged to the participating lending institution in

25 any case in which a loan made under this section is
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1 sold on the secondary market in an amount equal to

2 50 percent of that portion of the sale price which is

3 in excess of 110 percent of the face value of the

4 loan. Such fee may not be charged to the bor5 rower.’’.

6 (2) SUNSET.—The amendments made by para7 graph (1) shall remain in effect until September 30,

8 1996.

9 (b) GUARANTEE PERCENTAGES.—

10 (1) IN GENERAL.—Subparagraph (B) of section

11 7(a)(2) of the Small Business Act (15 U.S.C.

12 636(a)(2)) is amended to read as follows:

13 ‘‘(B) subject to the limitation in paragraph

14 (3)—

15 ‘‘(i) not less than 70 percent nor more

16 than 75 percent of the financing outstand17 ing at the time of disbursement, if such fi18 nancing is more than $155,000 and the

19 period of maturity of such financing is not

20 less than 10 years, except that the partici21 pation by the Administration may be re22 duced below 70 percent upon request of

23 the participating lender; and

24 ‘‘(ii) not less than 80 percent of the

25 financing outstanding at the time of dis-
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1 bursement, if such financing is a loan

2 under paragraph (16).’’.

3 (2) ADDITIONAL AMENDMENTS.—Section

4 7(a)(2) of the Small Business Act (15 U.S.C.

5 636(a)(2)) is amended—

6 (A) in the second sentence (immediately

7 following paragraph (2)(B)(ii)), by striking ‘‘85

8 percent’’ and inserting ‘‘the specified percent9 ages’’; and

10 (B) in the third sentence, by striking ‘‘80

11 percent’’ and inserting ‘‘75 percent’’.

12 (c) SYSTEM FOR LOAN PAYMENT AND SERVICING.—

13 Section 7(a) of the Small Business Act (15 U.S.C. 636(a))

14 is amended by adding at the end the following new para15 graph:

16 ‘‘(22)(A) For loans guaranteed under this sub17 section, the Administrator is authorized to establish

18 a centralized loan payment and servicing system.

19 ‘‘(B) Such system shall utilize a fiscal and

20 transfer agent to collect an annual fee on each loan

that is equal to 1 21 ⁄4 of 1 percent of the declining prin22 cipal balance of the loan.’’.
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1 SEC. 6. INTEREST RATE FOR PREFERRED LENDERS PRO2 GRAM.

3 Section 7(a)(2) of the Small Business Act (15 U.S.C.

4 7(a)(2)) is amended by inserting after the third sentence,

5 the following: ‘‘The maximum interest rate for a loan

6 under the Preferred Lenders Program shall not exceed the

7 maximum interest rate applicable to other loan guarantee

8 programs under section 7(a), as established by the Admin9 istrator.’’.

10 SEC. 7. MICROLOAN PROGRAM AMENDMENTS.

11 Section 7(m) of the Small Business Act (15 U.S.C.

12 636(m)) is amended—

13 (1) in paragraph (1)(B)(iii), by striking

14 ‘‘$15,000’’ and inserting ‘‘$25,000’’;

15 (2) in paragraph (4)(C)(ii), by inserting ‘‘to de16 fray costs associated with loan fund administration

17 and’’ before ‘‘to provide’’;

18 (3) in paragraph (5)(A), by striking ‘‘6 grants’’

19 and inserting ‘‘12 grants’’;

20 (4) by amending paragraph (9)(A) to read as

21 follows:

22 ‘‘(A) IN GENERAL.—The Administration

23 may provide, directly or through an organiza24 tion described in subparagraph (B), technical

25 assistance for participants and potential partici26 pants in the Microloan Demonstration Program
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1 to give such participants and potential partici2 pants such knowledge, skills, and understanding

3 of microlending practices necessary to operate

4 successful microloan programs.’’; and

5 (5) in paragraph (9)(B)—

6 (A) by striking ‘‘3 percent’’ and inserting

7 ‘‘7 percent’’; and

8 (B) by inserting ‘‘and nonprofit organiza9 tions that have demonstrated experience in pro10 viding training support for microenterprise de11 velopment and financing’’ after ‘‘microlending

12 organizations’’.

13 SEC. 8. REGULATIONS.

14 (a) IMPLEMENTATION.—Not later than 60 days after

15 the date of enactment of this Act, the Administrator of

16 the Small Business Administration (hereafter in this sec17 tion referred to as the ‘‘Administrator’’) shall promulgate

18 interim final regulations to implement the amendments

19 made by this Act.

20 (b) IMPLEMENTATION OF POLLUTION CONTROL AS21 SISTANCE PROVISION.—

22 (1) TECHNICAL CORRECTION.—Section

23 7(a)(12)(B) of the Small Business Act (15 U.S.C.

24 636(a)(12)(B)), as added by section 111(c)(2) of
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1 Public Law 100–590, is amended by striking ‘‘(b)’’

2 and inserting ‘‘(B)’’ and by indenting accordingly.

3 (2) REGULATIONS.—Not later than 240 days

4 after the date of enactment of this Act, the Adminis5 trator shall promulgate final regulations, after an

6 opportunity for notice and public comment, to carry

7 out section 7(a)(12)(B) of the Small Business Act.

8 SEC. 9. WHITE HOUSE CONFERENCE ON SMALL BUSINESS.

9 (a) DATES OF CONFERENCES.—Section 2 of the

10 White House Conference on Small Business Authorization

11 Act (15 U.S.C. 631 note) is amended—

12 (1) by striking ‘‘January 1, 1994’’ and insert13 ing ‘‘May 1, 1995’’;

14 (2) by striking ‘‘April 1, 1994’’ and inserting

15 ‘‘December 31, 1995’’; and

16 (3) by striking ‘‘December 1, 1992’’ and insert17 ing ‘‘March 1, 1994’’.

18 (b) APPOINTMENT OF COMMISSIONERS.—Section

19 5(a) of the White House Conference on Small Business

20 Authorization Act (15 U.S.C. 631 note) is amended by

21 striking ‘‘The President’’ and inserting ‘‘Not later than

22 30 days after the date of enactment of the Small Business

23 Credit Reform Act of 1993, the President’’.

24 (c) AUTHORIZATION OF APPROPRIATIONS.—Section

25 9(a) of the White House Conference on Small Business
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1 Authorization Act (15 U.S.C. 631 note) is amended by

2 striking ‘‘$5,000,000’’ and inserting ‘‘$7,000,000’’.

3 SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

4 (a) SHORT TITLE.—This Act may be cited as the

5 ‘‘Small Business Guaranteed Credit Enhancement Act of

6 1993’’.

7 (b) TABLE OF CONTENTS.—The table of contents for

8 this Act is as follows:

Sec. 1. Short title; table of contents.

Sec. 2. General authorizations for fiscal years 1993 and 1994.

Sec. 3. Extension of State limitation on interest rates.

Sec. 4. Guaranteed business loan program amendments.

Sec. 5. Interest rate for Preferred Lenders Program.

Sec. 6. Microloan program amendments.

Sec. 7. Small Business Development Center Program.

Sec. 8. Regulations.

Sec. 9. White House Conference on Small Business.

Sec. 10. National Women’s Business Council.

9 SEC. 2. GENERAL AUTHORIZATIONS FOR FISCAL YEARS 1993

10 AND 1994.

11 (a) FINANCINGS FOR FISCAL YEAR 1993.—Section

12 20(g)(2) of the Small Business Act (15 U.S.C. 631 note)

13 is amended—

14 (1) by striking ‘‘$7,030,000,000’’ and inserting

15 ‘‘$8,455,000,000’’;

16 (2) in subparagraph (A), by striking

17 ‘‘$6,200,000,000’’ and inserting ‘‘$7,500,000,000’’;

18 and

19 (3) in subparagraph (C), by striking

20 ‘‘$775,000,000’’ and inserting ‘‘$900,000,000’’.
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1 (b) FINANCINGS FOR FISCAL YEAR 1994.—Section

2 20(i)(2) of the Small Business Act (15 U.S.C. 631 note)

3 is amended—

4 (1) by striking ‘‘$8,083,000,000’’ and inserting

5 ‘‘$9,258,000,000’’;

6 (2) in subparagraph (A), by striking

7 ‘‘$7,200,000,000’’ and inserting ‘‘$8,000,000,000’’;

8 and

9 (3) in subparagraph (C), by striking

10 ‘‘$825,000,000’’ and inserting ‘‘$1,200,000,000’’.

11 (c) REDESIGNATIONS.—Section 20 of the Small Busi12 ness Act (15 U.S.C. 631 note) is amended—

13 (1) in subsection (l), as added by section 405(3)

14 of the Small Business Credit and Business Oppor15 tunity Enhancement Act of 1992—

16 (A) by striking ‘‘(l) There’’ and inserting

17 ‘‘(2) There’’, and indenting appropriately; and

18 (B) by striking ‘‘subsection (k)’’ and insert19 ing ‘‘paragraph (1)’’;

20 (2) by redesignating subsection (k), as added by

21 section 405(3) of the Small Business Credit and Busi22 ness Opportunity Enhancement Act of 1992, as sub23 section (l);

24 (3) in subsection (n)—
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1 (A) by striking ‘‘(n) There’’ and inserting

2 ‘‘(2) There’’, and indenting appropriately; and

3 (B) by striking ‘‘subsection (m)’’ and insert4 ing ‘‘paragraph (1)’’;

5 (4) by redesignating subsection (o) as subsection

6 (n); and

7 (5) in subsection (p)—

8 (A) by striking ‘‘(p) There’’ and inserting

9 ‘‘(2) There’’, and indenting appropriately; and

10 (B) by striking ‘‘subsection (o)’’ and insert11 ing ‘‘paragraph (1)’’.

12 SEC. 3. EXTENSION OF STATE LIMITATION ON INTEREST

13 RATES.

14 Section 112(c) of the Small Business Administration

15 Reauthorization and Amendments Act of 1988 (Public Law

16 100–590; 102 Stat. 2996) is amended—

17 (1) by striking paragraph (2); and

18 (2) by striking ‘‘(1) IN GENERAL.—’’.

19 SEC. 4. GUARANTEED BUSINESS LOAN PROGRAM AMEND20 MENTS.

21 (a) ADDITIONAL GUARANTEE FEES.—

22 (1) IN GENERAL.—Section 7(a)(18) of the Small

23 Business Act (15 U.S.C. 636(a)(18)) is amended—

24 (A) by inserting ‘‘(A)’’ after ‘‘(18)’’; and
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1 (B) by adding at the end the following new

2 subparagraph:

3 ‘‘(B) In addition to fees collected under subpara4 graph (A), the Administration shall collect an excess

5 premium fee from the participating lending institu6 tion in any case in which the sale price of the guar7 anteed portion of a loan made under this section and

8 sold on the secondary market exceeds 110 percent of

9 the face value of the guaranteed portion of the loan.

10 Such fee shall be equal to 50 percent of that portion

11 of the sale price that is in excess of 110 percent of the

12 face value of the guaranteed portion of the loan. Such

13 fee may not be charged to the borrower.’’.

14 (2) SUNSET.—The amendments made by para15 graph (1) shall remain in effect until September 30,

16 1996.

17 (b) GUARANTEE PERCENTAGES.—

18 (1) IN GENERAL.—Subparagraph (B) of section

19 7(a)(2) of the Small Business Act (15 U.S.C.

20 636(a)(2)) is amended to read as follows:

21 ‘‘(B) subject to the limitation in paragraph

22 (3)—

23 ‘‘(i) not less than 70 percent nor more than

24 85 percent of the financing outstanding at the

25 time of disbursement, if such financing is more
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1 than $155,000 and the period of maturity of

2 such financing is less than 10 years, except that

3 the participation by the Administration may be

4 reduced below 70 percent upon request of the

5 participating lender;

6 ‘‘(ii) not less than 70 percent nor more than

7 75 percent of the financing outstanding at the

8 time of disbursement, if such financing is more

9 than $155,000 and the period of maturity of

10 such financing is not less than 10 years, except

11 that the participation by the Administration

12 may be reduced below 70 percent upon request of

13 the participating lender; and

14 ‘‘(iii) not less than 85 percent of the financ15 ing outstanding at the time of disbursement, if

16 such financing is a loan under paragraph (16).’’.

17 (2) ADDITIONAL AMENDMENTS.—Section 7(a)(2)

18 of the Small Business Act (15 U.S.C. 636(a)(2)) is

19 amended—

20 (A) in the second sentence, by striking

21 ‘‘guaranteed to less than 85 percent’’ and insert22 ing ‘‘guaranteed to less than the specified per23 centages’’; and

24 (B) in the third sentence, by striking ‘‘80

25 percent’’ and inserting ‘‘75 percent’’.
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1 (c) ANNUAL GUARANTEE FEE; PENALTY.—Section

2 7(a) of the Small Business Act (15 U.S.C. 636(a)) is

3 amended by adding at the end the following new paragraph:

4 ‘‘(22)(A) For loans guaranteed under this sub5 section, the Administrator is authorized to collect, ei6 ther directly or through a fiscal and transfer agent,

an annual fee on each loan that is equal to 1 7 ⁄4 of 1

8 percent of the declining principal balance of the loan.

9 ‘‘(B) The Administrator is authorized to impose

10 and collect, either directly or through a fiscal and

11 transfer agent, a reasonable penalty fee on late pay12 ments of the fee authorized under subparagraph (A).’’.

13 SEC. 5. INTEREST RATE FOR PREFERRED LENDERS PRO14 GRAM.

15 Section 7(a)(2) of the Small Business Act (15 U.S.C.

16 7(a)(2)) is amended by inserting after the third sentence,

17 the following: ‘‘The maximum interest rate for a loan under

18 the Preferred Lenders Program shall not exceed the maxi19 mum interest rate applicable to other loan guarantee pro20 grams under section 7(a), as established by the Adminis21 trator.’’.

22 SEC. 6. MICROLOAN PROGRAM AMENDMENTS.

23 Section 7(m) of the Small Business Act (15 U.S.C.

24 636(m)) is amended—
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1 (1) in paragraph (1)(B)(iii), by striking

2 ‘‘$15,000’’ and inserting ‘‘$25,000’’;

3 (2) in paragraph (4)(C)(ii), by inserting ‘‘to de4 fray costs associated with loan fund administration

5 and’’ before ‘‘to provide’’;

6 (3) in paragraph (5)(A), by striking ‘‘6 grants’’

7 and inserting ‘‘12 grants’’;

8 (4) by amending paragraph (9)(A) to read as

9 follows:

10 ‘‘(A) IN GENERAL.—The Administration

11 may provide, directly or through an organiza12 tion described in subparagraph (B), technical as13 sistance for participants and potential partici14 pants in the Microloan Demonstration Program

15 to give such participants and potential partici16 pants such knowledge, skills, and understanding

17 of microlending practices necessary to operate

18 successful microloan programs.’’; and

19 (5) in paragraph (9)(B)—

20 (A) by striking ‘‘3 percent’’ and inserting

21 ‘‘7 percent’’; and

22 (B) by inserting ‘‘and nonprofit organiza23 tions that have demonstrated experience in pro24 viding training support for microenterprise de-
21

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1 velopment and financing’’ after ‘‘microlending

2 organizations’’.

3 SEC. 7. SMALL BUSINESS DEVELOPMENT CENTER PRO4 GRAM.

5 Section 223(b) of the Small Business Credit and Busi6 ness Opportunity Enhancement Act of 1992 (15 U.S.C. 631

7 note) is amended by striking ‘‘Such proposed regulations

8 shall not be published in the Federal Register.’’.

9 SEC. 8. REGULATIONS.

10 Not later than 60 days after the date of enactment of

11 this Act, the Administrator of the Small Business Adminis12 tration shall promulgate interim final regulations to imple13 ment the amendments made by this Act.

14 SEC. 9. WHITE HOUSE CONFERENCE ON SMALL BUSINESS.

15 (a) DATES OF CONFERENCES.—Section 2 of the White

16 House Conference on Small Business Authorization Act (15

17 U.S.C. 631 note) is amended—

18 (1) by striking ‘‘January 1, 1994’’ and inserting

19 ‘‘May 1, 1995’’;

20 (2) by striking ‘‘April 1, 1994’’ and inserting

21 ‘‘December 31, 1995’’; and

22 (3) by striking ‘‘December 1, 1992’’ and insert23 ing ‘‘March 1, 1994’’.

24 (b) APPOINTMENT OF COMMISSIONERS.—Section 5(a)

25 of the White House Conference on Small Business Author-
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1 ization Act (15 U.S.C. 631 note) is amended by striking

2 ‘‘The President’’ and inserting ‘‘Not later than 30 days

3 after the date of enactment of the Small Business Guaran4 teed Credit Enhancement Act of 1993, the President’’.

5 SEC. 10. NATIONAL WOMEN’S BUSINESS COUNCIL.

6 (a) MEMBERSHIP.—

7 (1) NEW MEMBERS.—Section 403 of the Women’s

8 Business Ownership Act of 1988 (15 U.S.C. 631 note)

9 is amended in subsection (a)—

10 (A) by striking ‘‘nine’’ and inserting

11 ‘‘eleven’’;

12 (B) in paragraph (1), by inserting ‘‘, the

13 Secretary of Labor (or such Secretary’s deputy),’’

14 after ‘‘(or such Secretary’s deputy)’’;

15 (C) in paragraph (2), by striking ‘‘and’’ at

16 the end;

17 (D) in paragraph (3), by striking the pe18 riod at the end and inserting ‘‘; and’’; and

19 (E) by adding at the end the following new

20 paragraph:

21 ‘‘(4) one member shall be appointed by the Presi22 dent.’’.

23 (2) APPOINTMENT DATE.—The first appointment

24 required under section 403(a)(4) of the Women’s

25 Business Ownership Act of 1988 (as added by para-
23

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1 graph (1)(E)) shall be made not later than 90 days

2 after the date of enactment of this Act.

3 (3) TERMS OF CURRENT MEMBERS.—Any mem4 ber appointed under paragraph (2) or (3) of section

5 403(a) of the Women’s Business Ownership Act of

6 1988 (15 U.S.C. 631 note) and serving prior to the

7 date of enactment of this Act shall continue to serve

8 until the expiration of the term for which the member

9 was appointed.

10 (4) CONFORMING AMENDMENTS.—Section 403(b)

11 of the Women’s Business Ownership Act of 1988 (15

12 U.S.C. 631 note) is amended—

13 (A) in paragraph (1), by striking ‘‘section

14 (a)(2) and (3)’’ and inserting ‘‘paragraphs (2),

15 (3), and (4) of subsection (a)’’;

16 (B) in paragraph (2)(C), by striking ‘‘sub17 section (a)(2) and (3)’’ and inserting ‘‘para18 graphs (2), (3), and (4) of subsection (a)’’; and

19 (C) in paragraph (2)(F)—

20 (i) by striking ‘‘(1) Two’’ and insert21 ing ‘‘(i) Three’’; and

22 (ii) by striking ‘‘(2) A majority’’ and

23 inserting ‘‘(ii) A majority’’.

24 (5) DELETION OF OBSOLETE REFERENCES.—

25 Section 404 of the Women’s Business Ownership Act
24

•S 1274 RS

1 of 1988 (15 U.S.C. 631 note) is amended by striking

2 ‘‘rate of basic pay payable for GS–18 of the General

3 Schedule’’ each place it appears and inserting ‘‘rate

4 of pay payable for a position at level IV of the Execu5 tive Schedule under section 5315 of title 5, United

6 States Code’’.

7 (b) AUTHORIZATION.—Section 407 of the Women’s

8 Business Ownership Act of 1988 (15 U.S.C. 631 note) is

9 amended to read as follows:

10 ‘‘SEC. 407. AUTHORIZATION.

11 ‘‘(a) IN GENERAL.—There are authorized to be appro12 priated to carry out this title—

13 ‘‘(1) $500,000 for fiscal year 1994; and

14 ‘‘(2) $500,000 for fiscal year 1995.

15 ‘‘(b) LIMITATION ON AUTHORITY.—New spending au16 thority or authority to enter into contracts as authorized

17 in this Act shall be effective only to such extent and in such

18 amounts as are provided in advance in appropriation Acts.

19 ‘‘(c) SUNSET.—This section shall cease to be effective

20 on November 30, 1995.’’.

Amend the title so as to read: ‘‘A bill to reduce the

subsidy cost for the Guaranteed Business Loan Program

of the Small Business Administration, and for other purposes.’’.

S 1274 RS——2

S 1274 RS——3