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agreement with the Federal Government cov-
ering the use of the database.
‘‘(3) UPDATING
INFORMATION
FOR
DATA-
BASE.—
‘‘(A) IN GENERAL.—A small business con-
cern applying for a second phase award under
this section shall be required to update informa-
tion in the database established under this sub-
section for any prior second phase award re-
ceived by that small business concern. In com-
plying with this paragraph, a small business
concern may apportion sales or additional in-
vestment information relating to more than one
second phase award among those awards, if it
notes the apportionment for each award.
‘‘(B) ANNUAL
UPDATES
UPON
TERMI-
NATION.—A small business concern receiving a
second phase award under this section shall—
‘‘(i) update information in the data-
base concerning that award at the termi-
nation of the award period; and
‘‘(ii) be requested to voluntarily up-
date such information annually thereafter
for a period of 5 years.
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‘‘(4) PROTECTION OF INFORMATION.—Informa-
tion provided under paragraph (2) shall be consid-
ered privileged and confidential and not subject to
disclosure pursuant to section 552 of title 5, United
States Code.
‘‘(5) RULE
OF
CONSTRUCTION.—Inclusion of
information in the database under this subsection
shall not be considered to be publication for pur-
poses of subsection (a) or (b) of section 102 of title
35, United States Code.’’.
SEC. 108. NATIONAL RESEARCH COUNCIL REPORTS.
(a) STUDY AND RECOMMENDATIONS.—The head of
each agency with a budget of more than $50,000,000 for
its SBIR program for fiscal year 1999, in consultation
with the Small Business Administration, shall, not later
than 6 months after the date of enactment of this Act,
cooperatively enter into an agreement with the National
Academy of Sciences for the National Research Council
to—
(1) conduct a comprehensive study of how the
SBIR program has stimulated technological innova-
tion and used small businesses to meet Federal re-
search and development needs, including—
(A) a review of the value to the Federal re-
search agencies of the research projects being
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conducted under the SBIR program, and of the
quality of research being conducted by small
businesses participating under the program, in-
cluding a comparison of the value of projects
conducted under the SBIR program to those
funded by other Federal research and develop-
ment expenditures;
(B) to the extent practicable, an evaluation
of the economic benefits achieved by the SBIR
program, including the economic rate of return,
and a comparison of the economic benefits, in-
cluding the economic rate of return, achieved by
the SBIR program with the economic benefits,
including the economic rate of return, of other
Federal research and development expenditures;
(C) an evaluation of the noneconomic bene-
fits achieved by the SBIR program over the life
of the program;
(D) a comparison of the allocation for fis-
cal year 2000 of Federal research and develop-
ment funds to small businesses with such allo-
cation for fiscal year 1983, and an analysis of
the factors that have contributed to such alloca-
tion; and
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(E) an analysis of whether Federal agen-
cies, in fulfilling their procurement needs, are
making sufficient effort to use small businesses
that have completed a second phase award
under the SBIR program; and
(2) make recommendations with respect to—
(A) measures of outcomes for strategic
plans submitted under section 306 of title 5,
United States Code, and performance plans
submitted under section 1115 of title 31,
United States Code, of each Federal agency
participating in the SBIR program;
(B) whether companies who can dem-
onstrate project feasibility, but who have not re-
ceived a first phase award, should be eligible for
second phase awards, and the potential impact
of such awards on the competitive selection
process of the program;
(C) whether the Federal Government
should be permitted to recoup some or all of its
expenses if a controlling interest in a company
receiving an SBIR award is sold to a foreign
company or to a company that is not a small
business concern;
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(D) how to increase the use by the Federal
Government in its programs and procurements
of technology-oriented small businesses; and
(E) improvements to the SBIR program, if
any are considered appropriate.
(b) PARTICIPATION BY SMALL BUSINESS.—
(1) IN GENERAL.—In a manner consistent with
law and with National Research Council study
guidelines and procedures, knowledgeable individuals
from the small business community with experience
in the SBIR program shall be included—
(A) in any panel established by the Na-
tional Research Council for the purpose of per-
forming the study conducted under this section;
and
(B) among those who are asked by the Na-
tional Research Council to peer review the
study.
(2) CONSULTATION.—To ensure that the con-
cerns of small business are appropriately considered
under this subsection, the National Research Council
shall consult with and consider the views of the Of-
fice of Technology and the Office of Advocacy of the
Small Business Administration and other interested
parties, including entities, organizations, and indi-
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(1) by striking ‘‘(i) Each Federal’’ and insert-
ing the following:
‘‘(i) ANNUAL REPORTING.—
‘‘(1) IN GENERAL.—Each Federal’’; and
(2) by adding at the end the following:
‘‘(2) CALCULATION
OF
EXTRAMURAL
BUDG-
ET.—
‘‘(A) METHODOLOGY.—Not later than 4
months after the date of enactment of each ap-
propriations Act for a Federal agency required
by this section to have an SBIR program, the
Federal agency shall submit to the Adminis-
trator a report, which shall include a descrip-
tion of the methodology used for calculating the
amount of the extramural budget of that Fed-
eral agency.
‘‘(B) ADMINISTRATOR’S
ANALYSIS.—The
Administrator shall include an analysis of the
methodology received from each Federal agency
referred to in subparagraph (A) in the report
required by subsection (b)(7).’’.
SEC. 110. POLICY DIRECTIVE MODIFICATIONS.
Section 9(j) of the Small Business Act (15 U.S.C.
638(j)) is amended by adding at the end the following:
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‘‘(3) ADDITIONAL
MODIFICATIONS.—Not later
than 120 days after the date of enactment of the
Small Business Innovation Research Program Reau-
thorization Act of 2000, the Administrator shall
modify the policy directives issued pursuant to this
subsection—
‘‘(A) to clarify that the rights provided for
under paragraph (2)(A) apply to all Federal
funding awards under this section, including
the first phase (as described in subsection
(e)(4)(A)), the second phase (as described in
subsection (e)(4)(B)), and the third phase (as
described in subsection (e)(4)(C));
‘‘(B) to provide for the requirement of a
succinct commercialization plan with each appli-
cation for a second phase award that is moving
toward commercialization;
‘‘(C) to require agencies to report to the
Administration, not less frequently than annu-
ally, all instances in which an agency pursued
research, development, or production of a tech-
nology developed by a small business concern
using an award made under the SBIR program
of that agency, and determined that it was not
practicable to enter into a follow-on non-SBIR
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program funding agreement with the small
business concern, which report shall include, at
a minimum—
‘‘(i) the reasons why the follow-on
funding agreement with the small business
concern was not practicable;
‘‘(ii) the identity of the entity with
which the agency contracted to perform
the research, development, or production;
and
‘‘(iii) a description of the type of
funding agreement under which the re-
search, development, or production was ob-
tained; and
‘‘(D) to implement subsection (v), includ-
ing establishing standardized procedures for the
provision of information pursuant to subsection
(k)(3).’’.
SEC. 111. FEDERAL AND STATE TECHNOLOGY PARTNER-
SHIP PROGRAM.
(a) FINDINGS.—Congress finds that—
(1) programs to foster economic development
among small high-technology firms vary widely
among the States;
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(2) States that do not aggressively support the
development of small high-technology firms, includ-
ing participation by small business concerns in the
SBIR program, are at a competitive disadvantage in
establishing a business climate that is conducive to
technology development; and
(3) building stronger national, State, and local
support for science and technology research in these
disadvantaged States will expand economic opportu-
nities in the United States, create jobs, and increase
the competitiveness of the United States in the
world market.
(b) FEDERAL AND STATE TECHNOLOGY PARTNER-
SHIP PROGRAM.—The Small Business Act (15 U.S.C. 631
et seq.) is amended—
(1) by redesignating section 34 as section 36;
and
(2) by inserting after section 33 the following
new section:
‘‘SEC. 34. FEDERAL AND STATE TECHNOLOGY PARTNER-
SHIP PROGRAM.
‘‘(a) DEFINITIONS.—In this section and section 35,
the following definitions apply:
‘‘(1) APPLICANT.—The term ‘applicant’ means
an entity, organization, or individual that submits a
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proposal for an award or a cooperative agreement
under this section.
‘‘(2) BUSINESS
ADVICE
AND
COUNSELING.—
The term ‘business advice and counseling’ means
providing advice and assistance on matters described
in section 35(c)(2)(B) to small business concerns to
guide them through the SBIR and STTR program
process, from application to award and successful
completion of each phase of the program.
‘‘(3) FAST PROGRAM.—The term ‘FAST pro-
gram’ means the Federal and State Technology
Partnership Program established under this section.
‘‘(4) MENTOR.—The term ‘mentor’ means an
individual described in section 35(c)(2).
‘‘(5) MENTORING NETWORK.—The term ‘Men-
toring Network’ means an association, organization,
coalition, or other entity (including an individual)
that meets the requirements of section 35(c).
‘‘(6) RECIPIENT.—The term ‘recipient’ means a
person that receives an award or becomes party to
a cooperative agreement under this section.
‘‘(7) SBIR PROGRAM.—The term ‘SBIR pro-
gram’ has the same meaning as in section 9(e)(4).
‘‘(8) STATE.—The term ‘State’ means each of
the several States, the District of Columbia, the
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Commonwealth of Puerto Rico, the Virgin Islands,
Guam, and American Samoa.
‘‘(9) STTR PROGRAM.—The term ‘STTR pro-
gram’ has the same meaning as in section 9(e)(6).
‘‘(b) ESTABLISHMENT OF PROGRAM.—The Adminis-
trator shall establish a program to be known as the Fed-
eral and State Technology Partnership Program, the pur-
pose of which shall be to strengthen the technological com-
petitiveness of small business concerns in the States.
‘‘(c) GRANTS AND COOPERATIVE AGREEMENTS.—
‘‘(1) JOINT
REVIEW.—In carrying out the
FAST program under this section, the Adminis-
trator and the SBIR program managers at the Na-
tional Science Foundation and the Department of
Defense shall jointly review proposals submitted by
applicants and may make awards or enter into coop-
erative agreements under this section based on the
factors for consideration set forth in paragraph (2),
in order to enhance or develop in a State—
‘‘(A) technology research and development
by small business concerns;
‘‘(B) technology transfer from university
research to technology-based small business
concerns;
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‘‘(C) technology deployment and diffusion
benefiting small business concerns;
‘‘(D) the technological capabilities of small
business concerns through the establishment or
operation of consortia comprised of entities, or-
ganizations, or individuals, including—
‘‘(i) State and local development agen-
cies and entities;
‘‘(ii) representatives of technology-
based small business concerns;
‘‘(iii) industries and emerging compa-
nies;
‘‘(iv) universities; and
‘‘(v) small business development cen-
ters; and
‘‘(E) outreach, financial support, and tech-
nical assistance to technology-based small busi-
ness concerns participating in or interested in
participating in an SBIR program, including
initiatives—
‘‘(i) to make grants or loans to com-
panies to pay a portion or all of the cost
of developing SBIR proposals;
‘‘(ii) to establish or operate a Men-
toring Network within the FAST program
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to provide business advice and counseling
that will assist small business concerns
that have been identified by FAST pro-
gram participants, program managers of
participating SBIR agencies, the Adminis-
tration, or other entities that are knowl-
edgeable about the SBIR and STTR pro-
grams as good candidates for the SBIR
and STTR programs, and that would ben-
efit from mentoring, in accordance with
section 35;
‘‘(iii) to create or participate in a
training program for individuals providing
SBIR outreach and assistance at the State
and local levels; and
‘‘(iv) to encourage the commercializa-
tion of technology developed through SBIR
program funding.
‘‘(2) SELECTION CONSIDERATIONS.—In making
awards or entering into cooperative agreements
under this section, the Administrator and the SBIR
program managers referred to in paragraph (1)—
‘‘(A) may only consider proposals by appli-
cants that intend to use a portion of the Fed-
eral assistance provided under this section to
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provide outreach, financial support, or technical
assistance to technology-based small business
concerns participating in or interested in par-
ticipating in the SBIR program; and
‘‘(B) shall consider, at a minimum—
‘‘(i) whether the applicant has dem-
onstrated that the assistance to be pro-
vided would address unmet needs of small
business concerns in the community, and
whether it is important to use Federal
funding for the proposed activities;
‘‘(ii) whether the applicant has dem-
onstrated that a need exists to increase the
number or success of small high-technology
businesses in the State, as measured by
the number of first phase and second
phase SBIR awards that have historically
been received by small business concerns in
the State;
‘‘(iii) whether the projected costs of
the proposed activities are reasonable;
‘‘(iv) whether the proposal integrates
and coordinates the proposed activities
with other State and local programs assist-
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ing small high-technology firms in the
State; and
‘‘(v) the manner in which the appli-
cant will measure the results of the activi-
ties to be conducted.
‘‘(3) PROPOSAL LIMIT.—Not more than 1 pro-
posal may be submitted for inclusion in the FAST
program under this section to provide services in any
one State in any 1 fiscal year.
‘‘(4) PROCESS.—Proposals and applications for
assistance under this section shall be in such form
and subject to such procedures as the Administrator
shall establish.
‘‘(d) COOPERATION
AND COORDINATION.—In car-
rying out the FAST program under this section, the Ad-
ministrator shall cooperate and coordinate with—
‘‘(1) Federal agencies required by section 9 to
have an SBIR program; and
‘‘(2) entities, organizations, and individuals ac-
tively engaged in enhancing or developing the tech-
nological capabilities of small business concerns,
including—
‘‘(A) State and local development agencies
and entities;
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‘‘(B) State committees established under
the Experimental Program to Stimulate Com-
petitive Research of the National Science Foun-
dation (as established under section 113 of the
National Science Foundation Authorization Act
of 1988 (42 U.S.C. 1862g));
‘‘(C) State science and technology councils;
and
‘‘(D) representatives of technology-based
small business concerns.
‘‘(e) ADMINISTRATIVE REQUIREMENTS.—
‘‘(1) COMPETITIVE BASIS.—Awards and cooper-
ative agreements under this section shall be made or
entered into, as applicable, on a competitive basis.
‘‘(2) MATCHING REQUIREMENTS.—
‘‘(A) 
IN
GENERAL.—The 
non-Federal
share of the cost of an activity (other than a
planning activity) carried out using an award or
under a cooperative agreement under this sec-
tion shall be—
‘‘(i) 50 cents for each Federal dollar,
in the case of a recipient that will serve
small business concerns located in one of
the 18 States receiving the fewest SBIR
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first phase awards (as described in section
9(e)(4)(A));
‘‘(ii) except as provided in subpara-
graph (B), 1 dollar for each Federal dollar,
in the case of a recipient that will serve
small business concerns located in one of
the 16 States receiving the greatest num-
ber of such SBIR first phase awards; and
‘‘(iii) except as provided in subpara-
graph (B), 75 cents for each Federal dol-
lar, in the case of a recipient that will
serve small business concerns located in a
State that is not described in clause (i) or
(ii) that is receiving such SBIR first phase
awards.
‘‘(B) LOW-INCOME AREAS.—The non-Fed-
eral share of the cost of the activity carried out
using an award or under a cooperative agree-
ment under this section shall be 50 cents for
each Federal dollar that will be directly allo-
cated by a recipient described in subparagraph
(A) to serve small business concerns located in
a qualified census tract, as that term is defined
in section 42(d)(5)(C)(ii) of the Internal Rev-
enue Code of 1986. Federal dollars not so allo-
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cated by that recipient shall be subject to the
matching requirements of subparagraph (A).
‘‘(C) TYPES OF FUNDING.—The non-Fed-
eral share of the cost of an activity carried out
by a recipient shall be comprised of not less
than 50 percent cash and not more than 50
percent of indirect costs and in-kind contribu-
tions, except that no such costs or contributions
may be derived from funds from any other Fed-
eral program.
‘‘(D) RANKINGS.—For purposes of sub-
paragraph (A), the Administrator shall reevalu-
ate the ranking of a State once every 2 fiscal
years, beginning with fiscal year 2001, based on
the most recent statistics compiled by the Ad-
ministrator.
‘‘(3) DURATION.—Awards may be made or co-
operative agreements entered into under this section
for multiple years, not to exceed 5 years in total.
‘‘(f) REPORTS.—
‘‘(1) INITIAL
REPORT.—Not later than 120
days after the date of enactment of the Small Busi-
ness Innovation Research Program Reauthorization
Act of 2000, the Administrator shall prepare and
submit to the Committee on Small Business of the
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Senate and the Committee on Science and the Com-
mittee on Small Business of the House of Rep-
resentatives a report, which shall include, with re-
spect to the FAST program, including Mentoring
Networks—
‘‘(A) a description of the structure and
procedures of the program;
‘‘(B) a management plan for the program;
and
‘‘(C) a description of the merit-based re-
view process to be used in the program.
‘‘(2) ANNUAL
REPORTS.—The Administrator
shall submit an annual report to the Committee on
Small Business of the Senate and the Committee on
Science and the Committee on Small Business of the
House of Representatives regarding—st
‘‘(A) the number and amount of awards
provided and cooperative agreements entered
into under the FAST program during the pre-
ceding year;
‘‘(B) a list of recipients under this section,
including their location and the activities being
performed with the awards made or under the
cooperative agreements entered into; and
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‘‘(C) the Mentoring Networks and the
mentoring database, as provided for under sec-
tion 35, including—
‘‘(i) the status of the inclusion of
mentoring information in the database re-
quired by section 9(k); and
‘‘(ii) the status of the implementation
and description of the usage of the Men-
toring Networks.
‘‘(g) REVIEWS BY INSPECTOR GENERAL.—
‘‘(1) IN GENERAL.—The Inspector General of
the Administration shall conduct a review of—
‘‘(A) the extent to which recipients under
the FAST program are measuring the perform-
ance of the activities being conducted and the
results of such measurements; and
‘‘(B) the overall management and effective-
ness of the FAST program.
‘‘(2) REPORT.—During the first quarter of fis-
cal year 2004, the Inspector General of the Adminis-
tration shall submit a report to the Committee on
Small Business of the Senate and the Committee on
Science and the Committee on Small Business of the
House of Representatives on the review conducted
under paragraph (1).
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‘‘(h) PROGRAM LEVELS.—
‘‘(1) IN GENERAL.—There is authorized to be
appropriated to carry out the FAST program, in-
cluding Mentoring Networks, under this section and
section 35, $10,000,000 for each of fiscal years
2001 through 2005.
‘‘(2) MENTORING
DATABASE.—Of the total
amount made available under paragraph (1) for fis-
cal years 2001 through 2005, a reasonable amount,
not to exceed a total of $500,000, may be used by
the Administration to carry out section 35(d).
‘‘(i) TERMINATION.—The authority to carry out the
FAST program under this section shall terminate on Sep-
tember 30, 2005.’’.
(c) COORDINATION OF TECHNOLOGY DEVELOPMENT
PROGRAMS.—Section 9 of the Small Business Act (15
U.S.C. 638) is amended by adding at the end the fol-
lowing:
‘‘(u) COORDINATION
OF TECHNOLOGY DEVELOP-
MENT PROGRAMS.—
‘‘(1) DEFINITION OF TECHNOLOGY DEVELOP-
MENT PROGRAM.—In this subsection, the term ‘tech-
nology development program’ means—
‘‘(A) the Experimental Program to Stimu-
late Competitive Research of the National
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Science Foundation, as established under sec-
tion 113 of the National Science Foundation
Authorization Act of 1988 (42 U.S.C. 1862g);
‘‘(B) the Defense Experimental Program
to Stimulate Competitive Research of the De-
partment of Defense;
‘‘(C) the Experimental Program to Stimu-
late Competitive Research of the Department of
Energy;
‘‘(D) the Experimental Program to Stimu-
late Competitive Research of the Environmental
Protection Agency;
‘‘(E) the Experimental Program to Stimu-
late Competitive Research of the National Aero-
nautics and Space Administration;
‘‘(F) the Institutional Development Award
Program of the National Institutes of Health;
and
‘‘(G) the National Research Initiative
Competitive Grants Program of the Department
of Agriculture.
‘‘(2) COORDINATION
REQUIREMENTS.—Each
Federal agency that is subject to subsection (f) and
that has established a technology development pro-
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gram may, in each fiscal year, review for funding
under that technology development program—
‘‘(A) any proposal to provide outreach and
assistance to 1 or more small business concerns
interested in participating in the SBIR pro-
gram, including any proposal to make a grant
or loan to a company to pay a portion or all of
the cost of developing an SBIR proposal, from
an entity, organization, or individual located
in—
‘‘(i) a State that is eligible to partici-
pate in that program; or
‘‘(ii) a State described in paragraph
(3); or
‘‘(B) any proposal for the first phase of
the SBIR program, if the proposal, though mer-
itorious, is not funded through the SBIR pro-
gram for that fiscal year due to funding re-
straints, from a small business concern located
in—
‘‘(i) a State that is eligible to partici-
pate in a technology development program;
or
‘‘(ii) a State described in paragraph
(3).
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‘‘(3) ADDITIONALLY ELIGIBLE STATE.—A State
referred to in subparagraph (A)(ii) or (B)(ii) of
paragraph (2) is a State in which the total value of
contracts awarded to small business concerns under
all SBIR programs is less than the total value of
contracts awarded to small business concerns in a
majority of other States, as determined by the Ad-
ministrator in biennial fiscal years, beginning with
fiscal year 2000, based on the most recent statistics
compiled by the Administrator.’’.
SEC. 112. MENTORING NETWORKS.
The Small Business Act (15 U.S.C. 631 et seq.) is
amended by inserting after section 34, as added by section
111(b)(2) of this Act, the following new section:
‘‘SEC. 35. MENTORING NETWORKS.
‘‘(a) FINDINGS.—Congress finds that—
‘‘(1) the SBIR and STTR programs create
jobs, increase capacity for technological innovation,
and boost international competitiveness;
‘‘(2) increasing the quantity of applications
from all States to the SBIR and STTR programs
would enhance competition for such awards and the
quality of the completed projects; and
‘‘(3) mentoring is a natural complement to the
FAST program of reaching out to new companies
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regarding the SBIR and STTR programs as an ef-
fective and low-cost way to improve the likelihood
that such companies will succeed in such programs
in developing and commercializing their research.
‘‘(b) 
AUTHORIZATION
FOR
MENTORING
NET-
WORKS.—The recipient of an award or participant in a
cooperative agreement under section 34 may use a reason-
able amount of such assistance for the establishment of
a Mentoring Network under this section.
‘‘(c) CRITERIA
FOR MENTORING NETWORKS.—A
Mentoring Network established using assistance under
section 34 shall—
‘‘(1) provide business advice and counseling to
high technology small business concerns located in
the State or region served by the Mentoring Net-
work and identified under section 34(c)(1)(E)(ii) as
potential candidates for the SBIR or STTR pro-
grams;
‘‘(2) identify volunteer mentors who—
‘‘(A) are persons associated with a small
business concern that has successfully com-
pleted one or more SBIR or STTR funding
agreements; and
‘‘(B) have agreed to guide small business
concerns through all stages of the SBIR or
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STTR program process, including providing as-
sistance relating to—
‘‘(i) proposal writing;
‘‘(ii) marketing;
‘‘(iii) Government accounting;
‘‘(iv) Government audits;
‘‘(v) project facilities and equipment;
‘‘(vi) human resources;
‘‘(vii) third phase partners;
‘‘(viii) commercialization;
‘‘(ix) venture capital networking; and
‘‘(x) other matters relevant to the
SBIR and STTR programs;
‘‘(3) have experience working with small busi-
ness concerns participating in the SBIR and STTR
programs;
‘‘(4) contribute information to the national
database referred to in subsection (d); and
‘‘(5) agree to reimburse volunteer mentors for
out-of-pocket expenses related to service as a mentor
under this section.
‘‘(d) MENTORING DATABASE.—The Administrator
shall—
‘‘(1) include in the database required by section
9(k)(1), in cooperation with the SBIR, STTR, and
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FAST programs, information on Mentoring Net-
works and mentors participating under this section,
including a description of their areas of expertise;
‘‘(2) work cooperatively with Mentoring Net-
works to maintain and update the database;
‘‘(3) take such action as may be necessary to
aggressively promote Mentoring Networks under this
section; and
‘‘(4) fulfill the requirements of this subsection
either directly or by contract.’’.
SEC. 113. SIMPLIFIED REPORTING REQUIREMENTS.
Section 9 of the Small Business Act (15 U.S.C. 638),
as amended by this Act, is further amended by adding
at the end the following new subsection:
‘‘(v) SIMPLIFIED REPORTING REQUIREMENTS.—The
Administrator shall work with the Federal agencies re-
quired by this section to have an SBIR program to stand-
ardize reporting requirements for the collection of data
from SBIR applicants and awardees, including data for
inclusion in the database under subsection (k), taking into
consideration the unique needs of each agency, and to the
extent possible, permitting the updating of previously re-
ported information by electronic means. Such require-
ments shall be designed to minimize the burden on small
businesses.’’.
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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 APPROPRIA-
TIONS.—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—GENERAL BUSINESS
LOAN PROGRAM
SEC. 201. SHORT TITLE.
This title may be cited as the ‘‘Small Business Gen-
eral 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’’.
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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.
Subparagraph (B) of section 7(a)(4) of the Small
Business Act (15 U.S.C. 636(a)(4)) 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 Administra-
tion a subsidy recoupment fee calculated in
accordance with clause (ii) if—
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‘‘(I) the loan is for a term of not
less than 15 years;
‘‘(II) the prepayment is vol-
untary;
‘‘(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 disburse-
ment 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 disburse-
ment;
‘‘(II) 3 percent of the amount of
prepayment, if the borrower prepays
during the second year after disburse-
ment; and
‘‘(III) 1 percent of the amount of
prepayment, if the borrower prepays
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during the third year after disburse-
ment.’’.
SEC. 206. GUARANTEE FEES.
Section 7(a)(18)(B) of the Small Business Act (15
U.S.C. 636(a)(18)(B)) is amended to read as follows:
‘‘(B) EXCEPTION FOR CERTAIN LOANS.—
‘‘(i) IN
GENERAL.—Notwithstanding
subparagraph (A), if the total deferred
participation share of a loan guaranteed
under this subsection is less than or equal
to $150,000, the guarantee fee collected
under subparagraph (A) shall be in an
amount equal to 2 percent of the total de-
ferred participation share of the loan.
‘‘(ii) RETENTION OF FEES.—Lenders
participating in the programs established
under this subsection may retain not more
than 25 percent of the fee collected in ac-
cordance with this subparagraph with re-
spect to any loan not exceeding $150,000
in gross loan amount.’’.
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 fol-
lowing:
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‘‘(28) LEASING.—In addition to such other
lease arrangements as may be authorized by the Ad-
ministration, 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 per-
cent of the total business space in the property.’’.
TITLE III—CERTIFIED DEVELOP-
MENT 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 Invest-
ment Act (15 U.S.C. 695(d)(3)(C)) is amended by insert-
ing before the comma ‘‘or women-owned business develop-
ment’’.
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
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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 sub-
sections (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 Reauthoriza-
tion and Amendments Act of 1994 (relating to section 508
of the Small Business Investment Act) 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) though (i)
as subsections (e) though (j), respectively;
(3) in subsection (f) (as redesignated by para-
graph (2)), by striking ‘‘subsection (f)’’ and insert-
ing ‘‘subsection (g)’’;
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(4) in subsection (h) (as redesignated by para-
graph (2)), by striking ‘‘subsection (f)’’ and insert-
ing ‘‘subsection (g)’’; and
(5) by inserting after subsection (c) the fol-
lowing:
‘‘(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 examina-
tion 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
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‘‘(B) provides the notice required by para-
graph (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 fol-
lowing:
‘‘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 liq-
uidate, or to otherwise treat in accordance with this sec-
tion, defaulted loans in its portfolio that are funded with
the proceeds of debentures guaranteed by the Administra-
tion under section 503.
‘‘(b) ELIGIBILITY FOR DELEGATION.—
‘‘(1) REQUIREMENTS.—A qualified State or
local development company shall be eligible for a del-
egation of authority under subsection (a) if—
‘‘(A) the company—
‘‘(i) has participated in the loan liq-
uidation pilot program established by the
Small Business Programs Improvement
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oped by the Administration in con-
junction with qualified State and local
development companies that meet the
requirements of this paragraph; or
‘‘(ii) submits to the Administration
documentation demonstrating that the
company has contracted with a qualified
third-party to perform any liquidation ac-
tivities and secures the approval of the
contract by the Administration with re-
spect to the qualifications of the contractor
and the terms and conditions of liquidation
activities.
‘‘(2) CONFIRMATION.—On request the Adminis-
tration shall examine the qualifications of any com-
pany described in subsection (a) to determine if such
company is eligible for the delegation of authority
under this section. If the Administration determines
that a company is not eligible, the Administration
shall provide the company with the reasons for such
ineligibility.
‘‘(c) SCOPE OF DELEGATED AUTHORITY.—
‘‘(1) IN
GENERAL.—Each qualified State or
local development company to which the Administra-
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tion delegates authority under section (a) may with
respect to any loan described in subsection (a)—
‘‘(A) perform all liquidation and fore-
closure functions, including the purchase in ac-
cordance with this subsection of any other in-
debtedness secured by the property securing the
loan, in a reasonable and sound manner accord-
ing to commercially accepted practices, pursu-
ant to a liquidation plan approved in advance
by the Administration under paragraph (2)(A);
‘‘(B) litigate any matter relating to the
performance of the functions described in sub-
paragraph (A), except that the Administration
may—
‘‘(i) defend or bring any claim if—
‘‘(I) the outcome of the litigation
may adversely affect the Administra-
tion’s management of the loan pro-
gram established under section 502;
or
‘‘(II) the Administration is enti-
tled to legal remedies not available to
a qualified State or local development
company and such remedies will ben-
efit either the Administration or the
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qualified State or local development
company; or
‘‘(ii) oversee the conduct of any such
litigation; and
‘‘(C) take other appropriate actions to
mitigate loan losses in lieu of total liquidation
or foreclosures, including the restructuring of a
loan in accordance with prudent loan servicing
practices and pursuant to a workout plan ap-
proved in advance by the Administration under
paragraph (2)(C).
‘‘(2) ADMINISTRATION APPROVAL.—
‘‘(A) LIQUIDATION PLAN.—
‘‘(i) IN
GENERAL.—Before carrying
out functions described in paragraph
(1)(A), a qualified State or local develop-
ment company shall submit to the Admin-
istration a proposed liquidation plan.
‘‘(ii) ADMINISTRATION
ACTION
ON
PLAN.—
‘‘(I) TIMING.—Not later than 15
business days after a liquidation plan
is received by the Administration
under clause (i), the Administration
shall approve or reject the plan.
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‘‘(II) NOTICE OF NO DECISION.—
With respect to any plan that cannot
be approved or denied within the 15-
day period required by subclause (I),
the Administration shall within such
period provide in accordance with sub-
paragraph (E) notice to the company
that submitted the plan.
‘‘(iii) ROUTINE ACTIONS.—In carrying
out functions described in paragraph
(1)(A), a qualified State or local develop-
ment company may undertake routine ac-
tions not addressed in a liquidation plan
without obtaining additional approval from
the Administration.
‘‘(B) PURCHASE OF INDEBTEDNESS.—
‘‘(i) IN
GENERAL.—In carrying out
functions described in paragraph (1)(A), a
qualified State or local development com-
pany shall submit to the Administration a
request for written approval before com-
mitting the Administration to the purchase
of any other indebtedness secured by the
property securing a defaulted loan.
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‘‘(ii) ADMINISTRATION ACTION ON RE-
QUEST.—
‘‘(I) TIMING.—Not later than 15
business days after receiving a request
under clause (i), the Administration
shall approve or deny the request.
‘‘(II) NOTICE OF NO DECISION.—
With respect to any request that can-
not be approved or denied within the
15-day period required by subclause
(I), the Administration shall within
such period provide in accordance
with subparagraph (E) notice to the
company that submitted the request.
‘‘(C) WORKOUT PLAN.—
‘‘(i) IN
GENERAL.—In carrying out
functions described in paragraph (1)(C), a
qualified State or local development com-
pany shall submit to the Administration a
proposed workout plan.
‘‘(ii) ADMINISTRATION
ACTION
ON
PLAN.—
‘‘(I) TIMING.—Not later than 15
business days after a workout plan is
received by the Administration under
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clause (i), the Administration shall
approve or reject the plan.
‘‘(II) NOTICE OF NO DECISION.—
With respect to any workout plan that
cannot be approved or denied within
the 15-day period required by sub-
clause (I), the Administration shall
within such period provide in accord-
ance with subparagraph (E) notice to
the company that submitted the plan.
‘‘(D) COMPROMISE OF INDEBTEDNESS.—
In carrying out functions described in para-
graph (1)(A), a qualified State or local develop-
ment company may—
‘‘(i) consider an offer made by an obli-
gor to compromise the debt for less than
the full amount owing; and
‘‘(ii) pursuant to such an offer, re-
lease any obligor or other party contin-
gently liable, if the company secures the
written approval of the Administration.
‘‘(E) CONTENTS OF NOTICE OF NO DECI-
SION.—Any notice provided by the Administra-
tion 
under 
subparagraphs 
(A)(ii)(II),
(B)(ii)(II), or (C)(ii)(II)—
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‘‘(i) shall be in writing;
‘‘(ii) shall state the specific reason for
the Administration’s inability to act on a
plan or request;
‘‘(iii) shall include an estimate of the
additional time required by the Adminis-
tration to act on the plan or request; and
‘‘(iv) if the Administration cannot act
because insufficient information or docu-
mentation was provided by the company
submitting the plan or request, shall speci-
fy the nature of such additional informa-
tion or documentation.
‘‘(3) CONFLICT OF INTEREST.—In carrying out
functions described in paragraph (1), a qualified
State or local development company shall take no ac-
tion that would result in an actual or apparent con-
flict of interest between the company (or any em-
ployee of the company) and any third party lender,
associate of a third party lender, or any other person
participating in a liquidation, foreclosure, or loss
mitigation action.
‘‘(d) SUSPENSION
OR REVOCATION
OF AUTHOR-
ITY.—The Administration may revoke or suspend a dele-
gation of authority under this section to any qualified
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State or local development company, if the Administration
determines that the company—
‘‘(1) does not meet the requirements of sub-
section (b)(1);
‘‘(2) has violated any applicable rule or regula-
tion of the Administration or any other applicable
law; or
‘‘(3) fails to comply with any reporting require-
ment that may be established by the Administration
relating to carrying out of functions described in
paragraph (1).
‘‘(e) REPORT.—
‘‘(1) IN GENERAL.—Based on information pro-
vided by qualified State and local development com-
panies and the Administration, the Administration
shall annually submit to the Committees on Small
Business of the House of Representatives and of the
Senate a report on the results of delegation of au-
thority under this section.
‘‘(2) CONTENTS.—Each report submitted under
paragraph (1) shall include the following informa-
tion:
‘‘(A) With respect to each loan foreclosed
or liquidated by a qualified State or local devel-
opment company under this section, or for
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which losses were otherwise mitigated by the
company pursuant to a workout plan under this
section—
‘‘(i) the total cost of the project fi-
nanced with the loan;
‘‘(ii) the total original dollar amount
guaranteed by the Administration;
‘‘(iii) the total dollar amount of the
loan at the time of liquidation, foreclosure,
or mitigation of loss;
‘‘(iv) the total dollar losses resulting
from the liquidation, foreclosure, or mitiga-
tion of loss; and
‘‘(v) the total recoveries resulting
from the liquidation, foreclosure, or mitiga-
tion of loss, both as a percentage of the
amount guaranteed and the total cost of
the project financed.
‘‘(B) With respect to each qualified State
or local development company to which author-
ity is delegated under this section, the totals of
each of the amounts described in clauses (i)
through (v) of subparagraph (A).
‘‘(C) With respect to all loans subject to
foreclosure, liquidation, or mitigation under this
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section, the totals of each of the amounts de-
scribed in clauses (i) through (v) of subpara-
graph (A).
‘‘(D) A comparison between—
‘‘(i) the information provided under
subparagraph (C) with respect to the 12-
month period preceding the date on which
the report is submitted; and
‘‘(ii) the same information with re-
spect to loans foreclosed and liquidated, or
otherwise treated, by the Administration
during the same period.
‘‘(E) The number of times that the Admin-
istration has failed to approve or reject a liq-
uidation plan in accordance with subparagraph
(A)(i), a workout plan in accordance with sub-
paragraph (C)(i), or to approve or deny a re-
quest for purchase of indebtedness under sub-
paragraph (B)(i), including specific information
regarding the reasons for the Administration’s
failure and any delays that resulted.’’.
(b) REGULATIONS.—
(1) IN
GENERAL.—Not later than 150 days
after the date of enactment of this Act, the Adminis-
trator shall issue such regulations as may be nec-
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essary to carry out section 510 of the Small Busi-
ness Investment Act of 1958, as added by subsection
(a) of this section.
(2) TERMINATION OF PILOT PROGRAM.—Begin-
ning on the date which the final regulations are
issued under paragraph (1), section 204 of the
Small Business Programs Improvement Act of 1996
(15 U.S.C. 695 note) shall cease to have effect.
TITLE 
IV—CORRECTIONS 
TO
THE 
SMALL 
BUSINESS 
IN-
VESTMENT ACT OF 1958
SEC. 401. SHORT TITLE.
This title may be cited as the ‘‘Small Business Invest-
ment Corrections Act of 2000’’.
SEC. 402. DEFINITIONS.
(a) 
SMALL
BUSINESS
CONCERN.—Section
103(5)(A)(i) of the Small Business Investment Act of
1958 (15 U.S.C. 662(5)(A)(i)) is amended by inserting
‘‘regardless of the allocation of control during the invest-
ment period under any investment agreement between the
business concern and the entity making the investment’’
before the semicolon at the end.
(b) LONG TERM.—Section 103 of the Small Business
Investment Act of 1958 (15 U.S.C. 662) is amended—
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(1) in paragraph (15), by striking ‘‘and’’ at the
end;
(2) in paragraph (16), by striking the period at
the end and inserting ‘‘; and’’; and
(3) by adding at the end the following new
paragraph:
‘‘(17) the term ‘long term’, when used in con-
nection with equity capital or loan funds invested in
any small business concern or smaller enterprise,
means any period of time not less than 1 year.’’.
SEC. 403. INVESTMENT IN SMALL BUSINESS INVESTMENT
COMPANIES.
Section 302(b) of the Small Business Investment Act
of 1958 (15 U.S.C. 682(b)) is amended—
(1) by striking ‘‘(b) Notwithstanding’’ and in-
serting the following:
‘‘(b) FINANCIAL INSTITUTION INVESTMENTS.—
‘‘(1) CERTAIN BANKS.—Notwithstanding’’; and
(2) by adding at the end the following:
‘‘(2) CERTAIN
SAVINGS
ASSOCIATIONS.—Not-
withstanding any other provision of law, any Federal
savings association may invest in any 1 or more
small business investment companies, or in any enti-
ty established to invest solely in small business in-
vestment companies, except that in no event may the
•HRES 590 ATH
total amount of such investments by any such Fed-
eral savings association exceed 5 percent of the cap-
ital and surplus of the Federal savings association.’’.
SEC. 404. SUBSIDY FEES.
(a) DEBENTURES.—Section 303(b) of the Small
Business Investment Act of 1958 (15 U.S.C. 683(b)) is
amended by striking ‘‘plus an additional charge of 1 per-
cent per annum which shall be paid to and retained by
the Administration’’ and inserting ‘‘plus, for debentures
issued after September 30, 2000, an additional charge, in
an amount established annually by the Administration, of
not more than 1 percent per year as necessary to reduce
to zero the cost (as defined in section 502 of the Federal
Credit Reform Act of 1990 (2 U.S.C. 661a)) to the Ad-
ministration of purchasing and guaranteeing debentures
under this Act, which shall be paid to and retained by
the Administration’’.
(b) PARTICIPATING SECURITIES.—Section 303(g)(2)
of the Small Business Investment Act of 1958 (15 U.S.C.
683(g)(2)) is amended by striking ‘‘plus an additional
charge of 1 percent per annum which shall be paid to and
retained by the Administration’’ and inserting ‘‘plus, for
participating securities issued after September 30, 2000,
an additional charge, in an amount established annually
by the Administration, of not more than 1 percent per
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year as necessary to reduce to zero the cost (as defined
in section 502 of the Federal Credit Reform Act of 1990
(2 U.S.C. 661a)) to the Administration of purchasing and
guaranteeing participating securities under this Act, which
shall be paid to and retained by the Administration’’.
SEC. 405. DISTRIBUTIONS.
Section 303(g)(8) of the Small Business Investment
Act of 1958 (15 U.S.C. 683(g)(8)) is amended—
(1) by striking ‘‘subchapter s corporation’’ and
inserting ‘‘subchapter S corporation’’;
(2) by striking ‘‘the end of any calendar quarter
based on a quarterly’’ and inserting ‘‘any time dur-
ing any calendar quarter based on an’’; and
(3) by striking ‘‘quarterly distributions for a
calendar year,’’ and inserting ‘‘interim distributions
for a calendar year,’’.
SEC. 406. CONFORMING AMENDMENT.
Section 310(c)(4) of the Small Business Investment
Act of 1958 (15 U.S.C. 687b(c)(4)) is amended by strik-
ing ‘‘five years’’ and inserting ‘‘1 year’’.
TITLE V—REAUTHORIZATION OF
SMALL BUSINESS PROGRAMS
SEC. 501. SHORT TITLE.
This title may be cited as the ‘‘Small Business Reau-
thorization Act of 2000’’.
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SEC. 502. REAUTHORIZATION OF SMALL BUSINESS PRO-
GRAMS.
Section 20 of the Small Business Act (15 U.S.C. 631
note) is amended by adding at the end the following:
‘‘(g) FISCAL YEAR 2001.—
‘‘(1) PROGRAM
LEVELS.—The following pro-
gram levels are authorized for fiscal year 2001:
‘‘(A) For the programs authorized by this
Act, the Administration is authorized to
make—
‘‘(i) $45,000,000 in technical assist-
ance grants as provided in section 7(m);
and
‘‘(ii) $60,000,000 in direct loans, as
provided in 7(m).
‘‘(B) For the programs authorized by this
Act, the Administration is authorized to make
$19,050,000,000 in deferred participation loans
and other financings. Of such sum, the Admin-
istration is authorized to make—
‘‘(i) $14,500,000,000 in general busi-
ness loans as provided in section 7(a);
‘‘(ii) $4,000,000,000 in financings as
provided in section 7(a)(13) of this Act
and section 504 of the Small Business In-
vestment Act of 1958;
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‘‘(iii) $500,000,000 in loans as pro-
vided in section 7(a)(21); and
‘‘(iv) $50,000,000 in loans as pro-
vided in section 7(m).
‘‘(C) For the programs authorized by title
III of the Small Business Investment Act of
1958, the Administration is authorized to
make—
‘‘(i) $2,500,000,000 in purchases of
participating securities; and
‘‘(ii) $1,500,000,000 in guarantees of
debentures.
‘‘(D) For the programs authorized by part
B of title IV of the Small Business Investment
Act of 1958, the Administration is authorized
to enter into guarantees not to exceed
$4,000,000,000 of which not more than 50 per-
cent may be in bonds approved pursuant to sec-
tion 411(a)(3) of that Act.
‘‘(E) The Administration is authorized to
make grants or enter cooperative agreements
for a total amount of $5,000,000 for the Serv-
ice Corps of Retired Executives program au-
thorized by section 8(b)(1).
‘‘(2) ADDITIONAL AUTHORIZATIONS.—
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‘‘(A) There are authorized to be appro-
priated to the Administration for fiscal year
2001 such sums as may be necessary to carry
out the provisions of this Act not elsewhere pro-
vided for, including administrative expenses and
necessary loan capital for disaster loans pursu-
ant to section 7(b), and to carry out title IV of
the Small Business Investment Act of 1958, in-
cluding salaries and expenses of the Adminis-
tration.
‘‘(B) Notwithstanding any other provision
of this paragraph, for fiscal year 2001—
‘‘(i) no funds are authorized to be
used as loan capital for the loan program
authorized by section 7(a)(21) except by
transfer from another Federal department
or agency to the Administration, unless the
program level authorized for general busi-
ness loans under paragraph (1)(B)(i) is
fully funded; and
‘‘(ii) the Administration may not ap-
prove loans on its own behalf or on behalf
of any other Federal department or agen-
cy, by contract or otherwise, under terms
and conditions other than those specifically