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Acquisition Streamlining Act of 1994 (Public Law 103–
355; 15 U.S.C. 644 note) is amended by striking ‘‘Sep-
tember 30, 2000’’ and inserting ‘‘September 30, 2003’’.
TITLE VI—MISCELLANEOUS
PROVISIONS
SEC. 601. LOAN APPLICATION PROCESSING.
(a) STUDY.—The Administrator of the Small Busi-
ness Administration shall conduct a study to determine
the average time that the Administration requires to proc-
ess an application for each type of loan or loan guarantee
made under the Small Business Act (15 U.S.C. 631 et
seq.).
(b) TRANSMITTAL.—Not later than 1 year after the
date of the enactment of this title, the Administrator shall
transmit to Congress the results of the study conducted
under subsection (a).
SEC. 602. APPLICATION OF OWNERSHIP REQUIREMENTS.
Section 2 of the Small Business Act (15 U.S.C. 631)
is amended by adding at the end the following new sub-
section:
‘‘(k) 
APPLICATION
OF
OWNERSHIP
REQUIRE-
MENTS.—Each ownership requirement established under
this Act or the Small Business Investment Act of 1958
(15 U.S.C. 661 et seq.) shall be applied without regard
to any possible future ownership interest of a spouse aris-
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ing from the application of any State community property
law established for the purpose of determining marital in-
terest.’’.
SEC. 603. ELIGIBILITY FOR HUBZONE PROGRAM.
Section 3(p)(5) of the Small Business Act (15 U.S.C.
632(p)(5)) is amended by adding at the end the following
new subparagraph:
‘‘(E) EXTENSION
OF
ELIGIBILITY.—If a
geographic area that qualified as a HUBZone
under this subsection ceases to qualify as a re-
sult of a change in official government data or
boundary designations, each small business con-
cern certified as HUBZone small business con-
cern in connection with such geographic area
shall remain certified as such for a period of 1
year after the effective date of the change in
HUBZone status, if the small business concern
continues to meet each of the other qualifica-
tions applicable to a HUBZone small business
concern.’’.
SEC. 604. SUBCONTRACTING PREFERENCE FOR VETERANS.
Section 8(d) of the Small Business Act (15 U.S.C.
637(d)) is amended—
(1) in paragraph (1), by inserting ‘‘small busi-
ness concerns owned and controlled by veterans,’’
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after ‘‘small business concerns,’’ the first place that
term appears in each of the first and second sen-
tences;
(2) in paragraph (3)—
(A) in subparagraph (A), by inserting
‘‘small business concerns owned and controlled
by service-disabled veterans,’’ after ‘‘small busi-
ness concerns owned and controlled by vet-
erans,’’ in each of the first and second sen-
tences; and
(B) in subparagraph (F), by inserting
‘‘small business concern owned and controlled
by service-disabled veterans,’’ after ‘‘small busi-
ness concern owned and controlled by vet-
erans,’’; and
(3) in each of paragraphs (4)(D), (4)(E),
(6)(A), (6)(C), (6)(F), and (10)(B), by inserting
‘‘small business concern owned and controlled by
service-disabled veterans,’’ after ‘‘small business con-
cerns owned and controlled by veterans,’’.
SEC. 605. SMALL BUSINESS DEVELOPMENT CENTER PRO-
GRAM FUNDING.
(a) AUTHORIZATION.—
(1) IN
GENERAL.—Section 20(a)(1) of the
Small Business Act (15 U.S.C. 631 note) is amend-
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ed by striking ‘‘For fiscal year 1985’’ and all that
follows through ‘‘expended.’’ and inserting the fol-
lowing: ‘‘For fiscal year 2000 and each fiscal year
thereafter, there are authorized to be appropriated
such sums as may be necessary and appropriate, to
remain available until expended, and to be available
solely—
‘‘(A) to carry out the Small Business Develop-
ment Center Program under section 21, but not to
exceed the annual funding level, as specified in sec-
tion 21(a);
‘‘(B) to pay the expenses of the National Small
Business Development Center Advisory Board, as
provided in section 21(i);
‘‘(C) to pay the expenses of the information
sharing system, as provided in section 21(c)(8);
‘‘(D) to pay the expenses of the association re-
ferred to in section 21(a)(3)(A) for conducting the
certification 
program, 
as 
provided 
in 
section
21(k)(2); and
‘‘(E) to pay the expenses of the Administration,
including salaries of examiners, for conducting ex-
aminations as part of the certification program con-
ducted by the association referred to in section
21(a)(3)(A).’’.
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(2) TECHNICAL AMENDMENT.—Section 20(a) of
the Small Business Act (15 U.S.C. 631 note) is fur-
ther amended by moving paragraphs (3) and (4), in-
cluding subparagraphs (A) and (B) of paragraph
(4), 2 ems to the left.
(b) FUNDING FORMULA.—Section 21(a)(4)(C) of the
Small Business Act (15 U.S.C. 648(a)(4)(C)) is amended
to read as follows:
‘‘(C) FUNDING FORMULA.—
‘‘(i) IN GENERAL.—Subject to clause (iii),
the amount of a formula grant received by a
State under this subparagraph shall be equal to
an amount determined in accordance with the
following formula:
‘‘(I) The annual amount made avail-
able under section 20(a) for the Small
Business Development Center Program,
less any reductions made for expenses au-
thorized by clause (v) of this subpara-
graph, shall be divided on a pro rata basis,
based on the percentage of the population
of each State, as compared to the popu-
lation of the United States.
‘‘(II) If the pro rata amount cal-
culated under subclause (I) for any State
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is less than the minimum funding level
under clause (iii), the Administration shall
determine the aggregate amount necessary
to achieve that minimum funding level for
each such State.
‘‘(III) The aggregate amount cal-
culated under subclause (II) shall be de-
ducted from the amount calculated under
subclause (I) for States eligible to receive
more than the minimum funding level. The
deductions shall be made on a pro rata
basis, based on the population of each such
State, as compared to the total population
of all such States.
‘‘(IV) The aggregate amount deducted
under subclause (III) shall be added to the
grants of those States that are not eligible
to receive more than the minimum funding
level in order to achieve the minimum
funding level for each such State, except
that the eligible amount of a grant to any
State shall not be reduced to an amount
below the minimum funding level.
‘‘(ii) 
GRANT
DETERMINATION.—The
amount of a grant that a State is eligible to
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apply for under this subparagraph shall be the
amount determined under clause (i), subject to
any modifications required under clause (iii),
and shall be based on the amount available for
the fiscal year in which performance of the
grant commences, but not including amounts
distributed in accordance with clause (iv). The
amount of a grant received by a State under
any provision of this subparagraph shall not ex-
ceed the amount of matching funds from
sources other than the Federal Government, as
required under subparagraph (A).
‘‘(iii) MINIMUM
FUNDING
LEVEL.—The
amount of the minimum funding level for each
State shall be determined for each fiscal year
based on the amount made available for that
fiscal year to carry out this section, as follows:
‘‘(I) If the amount made available is
not less than $81,500,000 and not more
than $90,000,000, the minimum funding
level shall be $500,000.
‘‘(II) If the amount made available is
less than $81,500,000, the minimum fund-
ing level shall be the remainder of
$500,000 minus a percentage of $500,000
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equal to the percentage amount by which
the amount made available is less than
$81,500,000.
‘‘(III) If the amount made available is
more than $90,000,000, the minimum
funding level shall be the sum of $500,000
plus a percentage of $500,000 equal to the
percentage amount by which the amount
made available exceeds $90,000,000.
‘‘(iv) DISTRIBUTIONS.—Subject to clause
(iii), if any State does not apply for, or use, its
full funding eligibility for a fiscal year, the Ad-
ministration shall distribute the remaining
funds as follows:
‘‘(I) If the grant to any State is less
than the amount received by that State in
fiscal year 2000, the Administration shall
distribute such remaining funds, on a pro
rata basis, based on the percentage of
shortage of each such State, as compared
to the total amount of such remaining
funds available, to the extent necessary in
order to increase the amount of the grant
to the amount received by that State in
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2000, or until such funds are exhausted,
whichever first occurs.
‘‘(II) If any funds remain after the
application of subclause (I), the remaining
amount may be distributed as supple-
mental grants to any State, as the Admin-
istration determines, in its discretion, to be
appropriate, after consultation with the as-
sociation 
referred 
to 
in 
subsection
(a)(3)(A).
‘‘(v) USE OF AMOUNTS.—
‘‘(I) IN GENERAL.—Of the amounts
made available in any fiscal year to carry
out this section—
‘‘(aa) not more than $500,000
may be used by the Administration to
pay expenses enumerated in subpara-
graphs (B) through (D) of section
20(a)(1); and
‘‘(bb) not more than $500,000
may be used by the Administration to
pay the examination expenses enumer-
ated in section 20(a)(1)(E).
‘‘(II) LIMITATION.—No funds de-
scribed in subclause (I) may be used for
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examination 
expenses 
under 
section
20(a)(1)(E) if the usage would reduce the
amount of grants made available under
clause (i)(I) to less than $85,000,000
(after excluding any amounts provided in
appropriations Acts for specific institutions
or for purposes other than the general
small business development center pro-
gram) or would further reduce the amount
of such grants below such amount.
‘‘(vi) EXCLUSIONS.—Grants provided to a
State by the Administration or another Federal
agency to carry out subsection (c)(3)(G) or
(a)(6) or supplemental grants set forth in
clause (iv)(II) of this subparagraph, shall not
be included in the calculation of maximum
funding for a State under clause (ii) of this
subparagraph.
‘‘(vii) AUTHORIZATION
OF
APPROPRIA-
TIONS.—There is authorized to be appropriated
to carry out this subparagraph $125,000,000
for each of fiscal years 2001, 2002, and 2003.
‘‘(viii) STATE DEFINED.—In this subpara-
graph, the term ‘State’ means each of the sev-
eral States, the District of Columbia, the Com-
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monwealth of Puerto Rico, the Virgin Islands,
Guam, American Samoa, the Commonwealth of
the Northern Mariana Islands, and any other
commonwealth, territory, or possession of the
United States.’’.
SEC. 606. SURETY BONDS.
(a) CONTRACT AMOUNTS.—Section 411 of the Small
Business Investment Act of 1958 (15 U.S.C. 694b) is
amended—
(1) 
in 
subsection 
(a)(1), 
by 
striking
‘‘$1,250,000’’ and inserting ‘‘$2,000,000’’; and
(2) 
in 
subsection 
(e)(2), 
by 
striking
‘‘$1,250,000’’ and inserting ‘‘$2,000,000’’.
(b) EXTENSION OF CERTAIN AUTHORITY.—Section
207 of the Small Business Administration Reauthorization
and Amendment Act of 1988 (15 U.S.C. 694b note) is
amended by striking ‘‘2000’’ and inserting ‘‘2003’’.
Attest:
Clerk.