I 
110TH CONGRESS 
1ST SESSION H. R. 1719 
To amend the Small Business Investment Act of 1958 to reauthorize and 
expand the New Markets Venture Capital Program, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 27, 2007 
Ms. MOORE of Wisconsin (for herself and Mr. ROGERS of Kentucky) intro-
duced the following bill; which was referred to the Committee on Small 
Business 
A BILL 
To amend the Small Business Investment Act of 1958 to 
reauthorize and expand the New Markets Venture Cap-
ital Program, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Securing Equity for 
the Economic Development of Low Income Areas Act of 
2007’’. 
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SEC. 2. EXPANSION OF NEW MARKETS VENTURE CAPITAL 
PROGRAM. 
(a) SELECTION
OF COMPANIES
IN EACH GEO-
GRAPHIC REGION.—Section 354 of the Small Business In-
vestment Act of 1958 (15 U.S.C. 689b) is amended by 
adding at the end the following new subsection: 
‘‘(f) GEOGRAPHIC REQUIREMENT.—In selecting com-
panies to participate as New Markets Venture Capital 
companies in the program established under this part, the 
Administrator shall select, to the extent practicable, from 
among companies submitting applications under sub-
section (b), at least one company from each geographic 
region of the Small Business Administration.’’ 
(b) PARTICIPATION
IN NEW MARKETS VENTURE 
CAPITAL PROGRAM.— 
(1) 
ADMINISTRATION
PARTICIPATION
RE-
QUIRED.—Section 353 of the Small Business Invest-
ment Act of 1958 (15 U.S.C. 689b) is amended by 
striking ‘‘under which the Administrator may’’ and 
inserting ‘‘under which the Administrator shall’’. 
(2) SMALL
MANUFACTURER
PARTICIPATION 
AGREEMENTS REQUIRED.—Such section, as amend-
ed by paragraph (1), is further amended, by insert-
ing after ‘‘section 352’’ the following: ‘‘(with at least 
one such agreement to be with a company engaged 
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primarily in development of and investment in small 
manufacturers, to the extent practicable)’’. 
(c) REPORT TO CONGRESS.—Not later than 1 year 
after the date of the enactment of this Act, the Adminis-
trator of the Small Business Administration shall submit 
to Congress a report evaluating the success of the expan-
sion of the New Markets Venture Capital Program under 
this section. 
SEC. 3. ESTABLISHMENT OF OFFICE OF NEW MARKETS 
VENTURE CAPITAL. 
(a) IN GENERAL.—Title II of the Small Business In-
vestment Act of 1958 (15 U.S.C. 671 et seq.) is amended 
by adding at the end the following new section: 
‘‘SEC. 202. OFFICE OF NEW MARKETS VENTURE CAPITAL. 
‘‘(a) ESTABLISHMENT.—There is hereby established 
in the Investment Division of the Small Business Adminis-
tration an office to be known as the ‘Office of New Mar-
kets Venture Capital’. 
‘‘(b) DIRECTOR.—The Office of New Markets Ven-
ture Capital shall be headed by a Director who shall be 
appointed by the Administrator. 
‘‘(c) RESPONSIBILITIES OF DIRECTOR.—Subject to 
the direction and control of the Administrator, the respon-
sibilities of the Director of the Office of New Markets Ven-
ture Capital are as follows: 
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