with respect to purchasing or guaranteeing any 
debenture involved.’’. 
(b) MAXIMUM AGGREGATE AMOUNT
OF LEVER-
AGE.—Paragraph (4) of subsection (b) of section 303 of 
the Small Business Investment Act of 1958 (15 U.S.C. 
303(b)(4)) is amended by adding at the end the following 
new subparagraph: 
‘‘(E) INVESTMENTS
IN
ENERGY
SAVING 
SMALL BUSINESSES.—In calculating the aggre-
gate outstanding leverage of a company for pur-
poses of subparagraph (A), the Administrator 
shall not include the amount of the cost basis 
of any Energy Saving qualified investment (as 
defined in subsection (k)) made after Sep-
tember 30, 2007, by a company licensed after 
September 30, 2007, in a smaller enterprise, to 
the extent that the total of such amounts does 
not exceed 50 percent of the company’s private 
capital, subject to such terms as the Adminis-
trator may impose to assure no cost (as defined 
in section 502 of the Federal Credit Reform 
Act of 1990) with respect to purchasing or 
guaranteeing any debenture involved.’’. 
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SEC. 3009. RENEWABLE FUEL CAPITAL INVESTMENT COM-
PANY. 
Title III of the Small Business Investment Act of 
1958 (15 U.S.C. 681 et seq.) is amended by adding at 
the end the following new part: 
‘‘PART C—RENEWABLE FUEL CAPITAL 
INVESTMENT PILOT PROGRAM 
‘‘SEC. 381. DEFINITIONS. 
‘‘In this part, the following definitions apply: 
‘‘(1) VENTURE
CAPITAL.—The term ‘venture 
capital’ means capital in the form of equity capital 
investments. For the purposes of this paragraph, the 
term ‘equity capital’ has the same meaning given 
such term in section 303(g)(4). 
‘‘(2) RENEWABLE FUEL CAPITAL INVESTMENT 
COMPANY.—The term ‘Renewable Fuel Capital In-
vestment Company’ means a company that— 
‘‘(A) has been granted final approval by 
the Administrator under section 384(e); and 
‘‘(B) has entered into a participation 
agreement with the Administrator. 
‘‘(3) OPERATIONAL
ASSISTANCE.—The term 
‘operational assistance’ means management, mar-
keting, and other technical assistance that assists a 
small business concern with business development. 
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‘‘(4) PARTICIPATION
AGREEMENT.—The term 
‘participation agreement’ means an agreement, be-
tween the Administrator and a company granted 
final approval under section 384(e), that— 
‘‘(A) details the company’s operating plan 
and investment criteria; and 
‘‘(B) requires the company to make invest-
ments in smaller enterprises primarily engaged 
in researching, manufacturing, developing, or 
bringing to market renewable energy sources. 
‘‘(5) RENEWABLE ENERGY.—The term ‘renew-
able energy means’ energy derived from resources 
that are regenerative or that cannot be depleted, in-
cluding but not limited to ethanol and biodiesel 
fuels. 
‘‘(6) STATE.—The term ‘State’ means such of 
the several States, the District of Columbia, the 
Commonwealth of Puerto Rico, the Virgin Islands, 
Guam, American Samoa, the Commonwealth of the 
Northern Mariana Islands, and any other common-
wealth, territory, or possession of the United States. 
‘‘SEC. 382. PURPOSES. 
‘‘The purposes of the Renewable Fuel Capital Invest-
ment Program established under this part are— 
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‘‘(1) to promote the research, development, 
manufacture and bringing to market of renewable 
energy sources by encouraging venture capital in-
vestments in smaller enterprises primarily engaged 
such activities; and 
‘‘(2) to establish a venture capital program, 
with the mission of addressing the unmet equity in-
vestment needs of small enterprises engaged in re-
searching, developing, manufacturing, and bringing 
to market renewable energy sources, to be adminis-
tered by the Administrator— 
‘‘(A) to enter into participation agreements 
with Renewable Fuel Capital Investment com-
panies; 
‘‘(B) to guarantee debentures of Renew-
able Fuel Capital Investment companies to en-
able each such company to make venture capital 
investments in smaller enterprises engaged in 
the research, development, manufacture, and 
bringing to market renewable energy sources; 
and 
‘‘(C) to make grants to Renewable Fuel 
Investment Capital companies, and to other en-
tities, for the purpose of providing operational 
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assistance to smaller enterprises financed, or 
expected to be financed, by such companies. 
‘‘SEC. 383. ESTABLISHMENT. 
‘‘In accordance with this part, the Administrator 
shall establish a Renewable Fuel Capital Investment Pro-
gram, under which the Administrator may— 
‘‘(1) enter into participation agreements with 
companies granted final approval under section 
384(e) for the purposes set forth in section 382; and 
‘‘(2) guarantee the debentures issued by Renew-
able Fuel Capital Investment companies as provided 
in section 385. 
‘‘SEC. 384. SELECTION OF RENEWABLE FUEL CAPITAL IN-
VESTMENT COMPANIES. 
‘‘(a) ELIGIBILITY.—A company shall be eligible to 
apply to participate, as a Renewable Fuel Capital Invest-
ment company, in the program established under this part 
if— 
‘‘(1) the company is a newly formed for-profit 
entity or a newly formed for-profit subsidiary of an 
existing entity; 
‘‘(2) the company has a management team with 
experience in alternative energy financing or relevant 
venture capital financing; and 
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