124
‘‘(C) such units and corporations to ex-
press interest in the transfer under this sub-
section of such properties;
‘‘(D) a right of first refusal for transfer of
qualified HUD properties to units of general
local government and community development
corporations, under which—
‘‘(i) the Secretary shall establish a pe-
riod during which the Secretary may not
transfer such properties except to such
units and corporations;
‘‘(ii) the Secretary shall offer qualified
HUD properties that are single family
properties for purchase by units of general
local government at a cost of $1 for each
property, but only to the extent that the
costs to the Federal Government of dis-
posal at such price do not exceed the costs
to the Federal Government of disposing of
property subject to the procedures for sin-
gle family property established by the Sec-
retary pursuant to the authority under the
last sentence of section 204(g) of the Na-
tional Housing Act (12 U.S.C. 1710(g));
125
‘‘(iii) the Secretary may accept an
offer to purchase a property made by a
community development corporation only if
the offer provides for purchase on a cost
recovery basis; and
‘‘(iv) the Secretary shall accept an
offer to purchase such a property that is
made during such period by such a unit or
corporation and that complies with the re-
quirements of this paragraph;
‘‘(E) a written explanation, to any unit of
general local government or community develop-
ment corporation making an offer to purchase
a qualified HUD property under this subsection
that is not accepted, of the reason that such
offer was not acceptable.
‘‘(4) OTHER
DISPOSITION.—With respect to
any qualified HUD property, if the Secretary does
not receive an acceptable offer to purchase the prop-
erty pursuant to the procedure established under
paragraph (3), the Secretary shall dispose of the
property to the unit of general local government in
which property is located or to community develop-
ment corporations located in such unit of general
local government on a negotiated, competitive bid, or
126
other basis, on such terms as the Secretary deems
appropriate.
‘‘(5) SATISFACTION
OF
INDEBTEDNESS.—Be-
fore transferring ownership of any qualified HUD
property pursuant to this subsection, the Secretary
shall satisfy any indebtedness incurred in connection
with the property to be transferred, by canceling the
indebtedness.
‘‘(6) DETERMINATION
OF
STATUS
OF
PROP-
ERTIES.—To ensure compliance with the require-
ments of this subsection, the Secretary shall take the
following actions:
‘‘(A) UPON ENACTMENT.—Upon the enact-
ment of this subsection, the Secretary shall
promptly assess each residential property owned
by the Secretary to determine whether such
property is a qualified HUD property.
‘‘(B) UPON ACQUISITION.—Upon acquiring
any residential property, the Secretary shall
promptly determine whether the property is a
qualified HUD property.
‘‘(C) UPDATES.—The Secretary shall peri-
odically reassess the residential properties
owned by the Secretary to determine whether
127
any such properties have become qualified
HUD properties.
‘‘(7) TENANT LEASES.—This subsection shall
not affect the terms or the enforceability of any con-
tract or lease entered into with respect to any resi-
dential property before the date that such property
becomes a qualified HUD property.
‘‘(8) USE OF PROPERTY.—Property transferred
under this subsection shall be used only for appro-
priate neighborhood revitalization efforts, including
homeownership, rental units, commercial space, and
parks, consistent with local zoning regulations, local
building codes, and subdivision regulations and re-
strictions of record.
‘‘(9) INAPPLICABILITY
TO
PROPERTIES
MADE
AVAILABLE FOR HOMELESS.—Notwithstanding any
other provision of this subsection, this subsection
shall not apply to any properties that the Secretary
determines are to be made available for use by the
homeless pursuant to subpart E of part 291 of title
24, Code of Federal Regulations, during the period
that the properties are so available.
‘‘(10) PROTECTION OF EXISTING CONTRACTS.—
This subsection may not be construed to alter, af-
fect, or annul any legally binding obligations entered
128
into with respect to a qualified HUD property before
the property becomes a qualified HUD property.
‘‘(11) DEFINITIONS.—For purposes of this sub-
section, the following definitions shall apply:
‘‘(A) COMMUNITY
DEVELOPMENT
COR-
PORATION.—The term ‘community development
corporation’ means a nonprofit organization
whose primary purpose is to promote commu-
nity development by providing housing opportu-
nities for low-income families.
‘‘(B) COST RECOVERY BASIS.—The term
‘cost recovery basis’ means, with respect to any
sale of a residential property by the Secretary,
that the purchase price paid by the purchaser
is equal to or greater than the sum of (i) the
appraised value of the property, as determined
in accordance with such requirements as the
Secretary shall establish, and (ii) the costs in-
curred by the Secretary in connection with such
property during the period beginning on the
date on which the Secretary acquires title to the
property and ending on the date on which the
sale is consummated.
‘‘(C) MULTIFAMILY HOUSING PROJECT.—
The term ‘multifamily housing project’ has the
129
meaning given the term in section 203 of the
Housing and Community Development Amend-
ments of 1978.
‘‘(D) RESIDENTIAL PROPERTY.—The term
‘residential property’ means a property that is
a multifamily housing project or a single family
property.
‘‘(E) SECRETARY.—The term ‘Secretary’
means the Secretary of Housing and Urban De-
velopment.
‘‘(F) SEVERE PHYSICAL PROBLEMS.—The
term ‘severe physical problems’ means, with re-
spect to a dwelling unit, that the unit—
‘‘(i) lacks hot or cold piped water, a
flush toilet, or both a bathtub and a show-
er in the unit, for the exclusive use of that
unit;
‘‘(ii) on not less than three separate
occasions during the preceding winter
months, was uncomfortably cold for a pe-
riod of more than 6 consecutive hours due
to a malfunction of the heating system for
the unit;
‘‘(iii) has no functioning electrical
service, exposed wiring, any room in which
130
there is not a functioning electrical outlet,
or has experienced three or more blown
fuses or tripped circuit breakers during the
preceding 90-day period;
‘‘(iv) is accessible through a public
hallway in which there are no working
light fixtures, loose or missing steps or
railings, and no elevator; or
‘‘(v) has severe maintenance problems,
including water leaks involving the roof,
windows, doors, basement, or pipes or
plumbing fixtures, holes or open cracks in
walls or ceilings, severe paint peeling or
broken plaster, and signs of rodent infesta-
tion.
‘‘(G) SINGLE
FAMILY
PROPERTY.—The
term ‘single family property’ means a 1- to 4-
family residence.
‘‘(H) SUBSTANDARD.—The term ‘sub-
standard’ means, with respect to a multifamily
housing project, that 25 percent or more of the
dwelling units in the project have severe phys-
ical problems.
‘‘(I) UNIT OF GENERAL LOCAL GOVERN-
MENT.—The term ‘unit of general local govern-
131
ment’ has the meaning given such term in sec-
tion 102(a) of the Housing and Community De-
velopment Act of 1974.
‘‘(J) UNOCCUPIED.—The term ‘unoccu-
pied’ means, with respect to a residential prop-
erty, that the unit of general local government
having jurisdiction over the area in which the
project is located has certified in writing that
the property is not inhabited.
‘‘(12) REGULATIONS.—
‘‘(A) INTERIM.—Not later than 30 days
after the date of the enactment of this sub-
section, the Secretary shall issue such interim
regulations as are necessary to carry out this
subsection.
‘‘(B) FINAL.—Not later than 60 days after
the date of the enactment of this subsection,
the Secretary shall issue such final regulations
as are necessary to carry out this subsection.’’.
SEC. 702. TRANSFER OF HUD ASSETS IN REVITALIZATION
AREAS.
In carrying out the program under section 204(h) of
the National Housing Act (12 U.S.C. 1710(h)), upon the
request of the chief executive officer of a county or the
government of appropriate jurisdiction and not later than
132
60 days after such request is made, the Secretary of Hous-
ing and Urban Development shall designate as a revital-
ization area all portions of such county that meet the cri-
teria for such designation under paragraph (3) of such
section.
SEC. 703. RISK-SHARING DEMONSTRATION.
Section 249 of the National Housing Act (12 U.S.C.
1715z–14) is amended—
(1) by striking the section heading and insert-
ing the following:
‘‘RISK-SHARING DEMONSTRATION’’;
(2) by striking ‘‘reinsurance’’ each place such
term appears and insert ‘‘risk-sharing’’;
(3) in subsection (a)—
(A) in the first sentence, by inserting ‘‘and
insured community development financial insti-
tutions’’ after ‘‘private mortgage insurers’’;
(B) in the second sentence—
(i) by striking ‘‘two’’ and inserting
‘‘4’’; and
(ii) by striking ‘‘March 15, 1988’’ and
inserting ‘‘the expiration of the 5-year pe-
riod beginning on the date of the enact-
ment of the Community Renewal and New
Market Act of 2000’’; and
133
(C) in the last sentence, by striking ‘‘10
percent’’ and inserting ‘‘20 percent’’;
(4) in subsection (b)—
(A) in the first sentence, by inserting ‘‘and
with insured community development financial
institutions’’ before the period at the end;
(B) in the first sentence, by striking
‘‘which have been determined to be qualified in-
surers under section 302(b)(2)(C)’’;
(C) in the second sentence, by inserting
‘‘and insured community development financial
institutions’’ after ‘‘private mortgage insurance
companies’’;
(D) by striking paragraph (1) and insert-
ing the following new paragraph:
‘‘(1) assume the first loss on any mortgage in-
sured pursuant to section 203(b), 234, or 245 that
covers a one- to four-family dwelling and is included
in the program under this section, up to the percent-
age of loss that is set forth in the risk-sharing con-
tract;’’; and
(E) in paragraph (2)—
(i) by striking ‘‘carry out (under ap-
propriate delegation) such’’ and inserting
‘‘delegate underwriting,’’; and
134
(ii) by striking ‘‘function’’ and insert-
ing ‘‘functions’’;
(5) in subsection (c)—
(A) in the first sentence—
(i) by striking ‘‘of’’ the first place it
appears and insert ‘‘for’’;
(ii) by striking ‘‘insurance reserves’’
and inserting ‘‘loss reserves’’; and
(iii) by striking ‘‘such insurance’’ and
inserting ‘‘such reserves’’; and
(B) in the second sentence, by inserting
‘‘or insured community development financial
institution’’ after ‘‘private mortgage insurance
company’’;
(6) in subsection (d), by inserting ‘‘or insured
community development financial institution’’ after
‘‘private mortgage insurance company’’; and
(7) by adding at the end the following new sub-
section:
‘‘(e) INSURED COMMUNITY DEVELOPMENT FINAN-
CIAL INSTITUTIONS.—For purposes of this section, the
term ‘insured community development financial institu-
tion’ means a community development financial institu-
tion, as such term is defined in section 103 of Reigle Com-
munity Development and Regulatory Improvement Act of
135
1994 (12 U.S.C. 4702) that is an insured depository insti-
tution (as such term is defined in section 3 of the Federal
Deposit Insurance Act (12 U.S.C. 1813)) or an insured
credit union (as such term is defined in section 101 of
the Federal Credit Union Act (12 U.S.C. 1752)).’’.
SEC. 704. PREVENTION AND TREATMENT OF SUBSTANCE
ABUSE; SERVICES PROVIDED THROUGH RELI-
GIOUS ORGANIZATIONS.
Title V of the Public Health Service Act (42 U.S.C.
290aa et seq.) is amended by adding at the end the fol-
lowing part:
‘‘PART G—SERVICES PROVIDED THROUGH RELIGIOUS
ORGANIZATIONS
‘‘SEC. 581. APPLICABILITY TO DESIGNATED PROGRAMS.
‘‘(a) DESIGNATED
PROGRAMS.—Subject to sub-
section (b), this part applies to discretionary and formula
grant programs administered by the Substance Abuse and
Mental Health Services Administration that make awards
of financial assistance to public or private entities for the
purpose of carrying out activities to prevent or treat sub-
stance abuse (in this part referred to as a ‘designated pro-
gram’). Designated programs include the program under
subpart II of part B of title XIX (relating to formula
grants to the States).
136
‘‘(b) LIMITATION.—This part does not apply to any
award of financial assistance under a designated program
for a purpose other than the purpose specified in sub-
section (a).
‘‘(c) DEFINITIONS.—For purposes of this part (and
subject to subsection (b)):
‘‘(1) The term ‘designated program’ has the
meaning given such term in subsection (a).
‘‘(2) The term ‘financial assistance’ means a
grant, cooperative agreement, or contract.
‘‘(3) The term ‘program beneficiary’ means an
individual who receives program services.
‘‘(4) The term ‘program participant’ means a
public or private entity that has received financial
assistance under a designated program.
‘‘(5) The term ‘program services’ means treat-
ment for substance abuse, or preventive services re-
garding such abuse, provided pursuant to an award
of financial assistance under a designated program.
‘‘(6) The term ‘religious organization’ means a
nonprofit religious organization.
137
‘‘SEC. 582. RELIGIOUS ORGANIZATIONS AS PROGRAM PAR-
TICIPANTS.
‘‘(a) IN GENERAL.—Notwithstanding any other pro-
vision of law, a religious organization, on the same basis
as any other nonprofit private provider—
‘‘(1) may receive financial assistance under a
designated program; and
‘‘(2) may be a provider of services under a des-
ignated program.
‘‘(b) RELIGIOUS ORGANIZATIONS.—The purpose of
this section is to allow religious organizations to be pro-
gram participants on the same basis as any other non-
profit private provider without impairing the religious
character of such organizations, and without diminishing
the religious freedom of program beneficiaries.
‘‘(c) NONDISCRIMINATION AGAINST RELIGIOUS OR-
GANIZATIONS.—
‘‘(1) 
ELIGIBILITY
AS
PROGRAM
PARTICI-
PANTS.—Religious organizations are eligible to be
program participants on the same basis as any other
nonprofit private organization as long as the pro-
grams are implemented consistent with the Estab-
lishment Clause and Free Exercise Clause of the
First Amendment to the United States Constitution.
Nothing in this Act shall be construed to restrict the
ability of the Federal Government, or a State or
138
local government receiving funds under such pro-
grams, to apply to religious organizations the same
eligibility conditions in designated programs as are
applied to any other nonprofit private organization.
‘‘(2) NONDISCRIMINATION.—Neither the Fed-
eral Government nor a State or local government re-
ceiving funds under designated programs shall dis-
criminate against an organization that is or applies
to be a program participant on the basis that the or-
ganization has a religious character.
‘‘(d) RELIGIOUS CHARACTER AND FREEDOM.—
‘‘(1) RELIGIOUS
ORGANIZATIONS.—Except as
provided in this section, any religious organization
that is a program participant shall retain its inde-
pendence from Federal, State, and local government,
including such organization’s control over the defini-
tion, development, practice, and expression of its re-
ligious beliefs.
‘‘(2) ADDITIONAL
SAFEGUARDS.—Neither the
Federal Government nor a State shall require a reli-
gious organization to—
‘‘(A) alter its form of internal governance;
or
‘‘(B) remove religious art, icons, scripture,
or other symbols;
139
in order to be a program participant.
‘‘(e) EMPLOYMENT PRACTICES.—Nothing in this sec-
tion shall be construed to modify or affect the provisions
of any other Federal or State law or regulation that re-
lates to discrimination in employment. A religious organi-
zation’s exemption provided under section 702 of the Civil
Rights Act of 1964 regarding employment practices shall
not be affected by its participation in, or receipt of funds
from, a designated program.
‘‘(f) RIGHTS OF PROGRAM BENEFICIARIES.—
‘‘(1) IN GENERAL.—If an individual who is a
program beneficiary or a prospective program bene-
ficiary objects to the religious character of a pro-
gram participant, within a reasonable period of time
after the date of such objection such program partic-
ipant shall refer such individual to, and the appro-
priate Federal, State, or local government that ad-
ministers a designated program or is a program par-
ticipant shall provide to such individual (if otherwise
eligible for such services), program services that—
‘‘(A) are from an alternative provider that
is accessible to, and has the capacity to provide
such services to, such individual; and
‘‘(B) have a value that is not less than the
value of the services that the individual would
141
‘‘(g) FISCAL ACCOUNTABILITY.—
‘‘(1) IN GENERAL.—Except as provided in para-
graph (2), any religious organization that is a pro-
gram participant shall be subject to the same regula-
tions as other recipients of awards of Federal finan-
cial assistance to account, in accordance with gen-
erally accepted auditing principles, for the use of the
funds provided under such awards.
‘‘(2) LIMITED
AUDIT.—With respect to the
award involved, if a religious organization that is a
program participant maintains the Federal funds in
a separate account from non-Federal funds, then
only the Federal funds shall be subject to audit.
‘‘(h) COMPLIANCE.—With respect to compliance with
this section by an agency, a religious organization may
obtain judicial review of agency action in accordance with
chapter 7 of title 5, United States Code.
‘‘SEC. 583. LIMITATIONS ON USE OF FUNDS FOR CERTAIN
PURPOSES.
‘‘No funds provided under a designated program shall
be expended for sectarian worship, instruction, or pros-
elytization.
‘‘SEC. 584. EDUCATIONAL REQUIREMENTS FOR PERSONNEL
IN DRUG TREATMENT PROGRAMS.
‘‘(a) FINDINGS.—The Congress finds that—
142
‘‘(1) establishing unduly rigid or uniform edu-
cational qualification for counselors and other per-
sonnel in drug treatment programs may undermine
the effectiveness of such programs; and
‘‘(2) such educational requirements for coun-
selors and other personnel may hinder or prevent the
provision of needed drug treatment services.
‘‘(b) NONDISCRIMINATION.—In determining whether
personnel of a program participant that has a record of
successful drug treatment for the preceding three years
have satisfied State or local requirements for education
and training, a State or local government shall not dis-
criminate against education and training provided to such
personnel by a religious organization, so long as such edu-
cation and training includes basic content substantially
equivalent to the content provided by nonreligious organi-
zations that the State or local government would credit
for purposes of determining whether the relevant require-
ments have been satisfied.’’.
SEC. 705. NEW MARKETS VENTURE CAPITAL PROGRAM.
(a) SHORT TITLE.—This section may be cited as the
‘‘New Markets Venture Capital Program Act of 2000’’.
(b) NEW MARKETS VENTURE CAPITAL PROGRAM.—
Title III of the Small Business Investment Act of
1958 (15 U.S.C. 681 et seq.) is amended—
143
(1) in the heading for the title, by striking
‘‘SMALL BUSINESS INVESTMENT COMPA-
NIES’’ and inserting ‘‘INVESTMENT DIVISION
PROGRAMS’’;
(2) by inserting before the heading for section
301 the following:
‘‘PART A—SMALL BUSINESS INVESTMENT COMPANIES’’
; and
(3) by adding at the end the following:
‘‘PART B—NEW MARKETS VENTURE CAPITAL PROGRAM
‘‘SEC. 351. DEFINITIONS.
‘‘In this part, the following definitions apply:
‘‘(1) DEVELOPMENTAL
VENTURE
CAPITAL.—
The term ‘developmental venture capital’ means cap-
ital in the form of equity investments in businesses
made with a primary objective of fostering economic
development in low- or moderate-income geographic
areas.
‘‘(2) LOW- OR MODERATE-INCOME GEOGRAPHIC
AREA.—The term ‘low- or moderate-income geo-
graphic area’ means—
‘‘(A) a census tract, or the equivalent
county division as defined by the Bureau of the
Census for purposes of defining poverty areas,
in which—
144
‘‘(i) the poverty rate is not less than
20 percent;
‘‘(ii) in the case of a census tract or
division located within a metropolitan area,
the median family income for such tract or
division does not exceed the greater of 80
percent of the statewide median family in-
come or 80 percent of the metropolitan
area median family income; or
‘‘(iii) in the case of a census tract or
division not located within a metropolitan
area, the median family income for such
tract or division does not exceed 80 per-
cent of the statewide median family in-
come; or
‘‘(B) any area located within—
‘‘(i) a historically underutilized busi-
ness zone (HUBZone), as defined in sec-
tion 3(p) of the Small Business Act (15
U.S.C. 632(p));
‘‘(ii) an urban empowerment zone or
an urban enterprise community, as des-
ignated by the Secretary of the Depart-
ment of Housing and Urban Development;
or
145
‘‘(iii) a rural empowerment zone or a
rural enterprise community, as designated
by the Secretary of the Department of Ag-
riculture.
‘‘(3) NEW MARKETS VENTURE CAPITAL COM-
PANY.—The term ‘New Markets Venture Capital
company’ means a company that—
‘‘(A) has been granted final approval by
the Administration under section 354(e); and
‘‘(B) has entered into a participation
agreement with the Administration.
‘‘(4) OPERATIONAL
ASSISTANCE.—The term
‘operational assistance’ means management, mar-
keting, and other technical assistance that assists a
small business concern with business development.
‘‘(5) PARTICIPATION
AGREEMENT.—The term
‘participation agreement’ means an agreement, be-
tween the Administration and a company granted
final approval under section 354(e), that—
‘‘(A) details the company’s operating plan
and investment criteria; and
‘‘(B) requires the company to make invest-
ments in smaller enterprises at least 80 percent
of which are located in low- or moderate-income
geographic areas.
146
‘‘(6) SPECIALIZED
SMALL
BUSINESS
INVEST-
MENT COMPANY.—The term ‘specialized small busi-
ness investment company’ means any small business
investment company that—
‘‘(A) invests solely in small business con-
cerns that contribute to a well-balanced na-
tional economy by facilitating ownership in such
concerns by persons whose participation in the
free enterprise system is hampered because of
social or economic disadvantages;
‘‘(B) is organized or chartered under State
business or nonprofit corporations statutes, or
formed as a limited partnership; and
‘‘(C) was licensed under section 301(d), as
in effect before September 30, 1996.
‘‘SEC. 352. PURPOSES.
‘‘The purposes of the New Markets Venture Capital
Program established under this part are—
‘‘(1) to promote economic development and the
creation of wealth and job opportunities in low- or
moderate-income geographic areas and among indi-
viduals living in such areas by encouraging develop-
mental venture capital investments in smaller enter-
prises primarily located in such areas; and
148
‘‘(2) guarantee the debentures issued by New
Markets Venture Capital companies as provided in
section 355; and
‘‘(3) make grants to New Markets Venture
Capital companies, and to other entities, under sec-
tion 358.
‘‘SEC. 354. SELECTION OF NEW MARKETS VENTURE CAP-
ITAL COMPANIES.
‘‘(a) ELIGIBILITY.—A company shall be eligible to
apply to participate, as a New Markets Venture Capital
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 community development financing or
relevant venture capital financing; and
‘‘(3) the company has a primary objective of
economic development of low- or moderate-income
geographic areas.
‘‘(b) APPLICATION.—To participate, as a New Mar-
kets Venture Capital company, in the program established
under this part a company meeting the eligibility require-
ments set forth in subsection (a) shall submit an applica-
tion to the Administration that includes—
149
‘‘(1) a business plan describing how the com-
pany intends to make successful developmental ven-
ture capital investments in identified low- or mod-
erate-income geographic areas;
‘‘(2) information regarding the community de-
velopment finance or relevant venture capital quali-
fications and general reputation of the company’s
management;
‘‘(3) a description of how the company intends
to work with community organizations and to seek
to address the unmet capital needs of the commu-
nities served;
‘‘(4) a proposal describing how the company
will use the grant funds provided under this part to
provide operational assistance to smaller enterprises
financed by the company, including information re-
garding whether the company will use licensed pro-
fessionals, where applicable, on the company’s staff
or from an outside entity;
‘‘(5) with respect to binding commitments to be
made to the company under this part, an estimate
of the ratio of cash to in-kind contributions;
‘‘(6) a description of the criteria to be used to
evaluate whether and to what extent the company
150
meets the objectives of the program established
under this part;
‘‘(7) information regarding the management
and financial strength of any parent firm, affiliated
firm, or any other firm essential to the success of
the company’s business plan; and
‘‘(8) such other information as the Administra-
tion may require.
‘‘(c) CONDITIONAL APPROVAL.—
‘‘(1) IN
GENERAL.—From among companies
submitting applications under subsection (b), the
Administration shall, in accordance with this sub-
section, conditionally approve companies to partici-
pate in the New Markets Venture Capital Program.
‘‘(2) SELECTION CRITERIA.—In selecting com-
panies under paragraph (1), the Administration
shall consider the following:
‘‘(A) The likelihood that the company will
meet the goals of its business plan.
‘‘(B) The experience and background of
the company’s management team.
‘‘(C) The need for developmental venture
capital investments in the geographic areas in
which the company intends to invest.
151
‘‘(D) The extent to which the company will
concentrate its activities on serving the geo-
graphic areas in which it intends to invest.
‘‘(E) The likelihood that the company will
be able to satisfy the conditions under sub-
section (d).
‘‘(F) The extent to which the activities
proposed by the company will expand economic
opportunities in the geographic areas in which
the company intends to invest.
‘‘(G) The strength of the company’s pro-
posal to provide operational assistance under
this part as the proposal relates to the ability
of the applicant to meet applicable cash require-
ments and properly utilize in-kind contribu-
tions, including the use of resources for the
services of licensed professionals whether pro-
vided by persons on the company’s staff or by
persons outside of the company.
‘‘(H) Any other factors deemed appro-
priate by the Administration.
‘‘(3) NATIONWIDE DISTRIBUTION.—The Admin-
istration shall select companies under paragraph (1)
in such a way that promotes investment nationwide.
152
‘‘(d) REQUIREMENTS TO BE MET FOR FINAL AP-
PROVAL.—The Administration shall grant each condi-
tionally approved company a period of time, not to exceed
2 years, to satisfy the following requirements:
‘‘(1) CAPITAL
REQUIREMENT.—Each condi-
tionally approved company must raise not less than
$5,000,000 of private capital or binding capital com-
mitments from 1 or more investors (other than
agencies or departments of the Federal Government)
who meet criteria established by the Administration.
‘‘(2) NONADMINISTRATION
RESOURCES
FOR
OPERATIONAL
ASSISTANCE.—In order to provide
operational assistance to smaller enterprises ex-
pected to be financed by the company, each condi-
tionally approved company—
‘‘(A) must have binding commitments (for
contribution in cash or in kind)—
‘‘(i) from any sources other than the
Administration that meet criteria estab-
lished by the Administration;
‘‘(ii) payable or available over a
multiyear period acceptable to the Admin-
istration (not to exceed 10 years); and
153
‘‘(iii) in an amount not less than 30
percent of the total amount of capital and
commitments raised under paragraph (1);
‘‘(B) must have purchased an annuity—
‘‘(i) from an insurance company ac-
ceptable to the Administration;
‘‘(ii) using funds (other than the
funds raised under paragraph (1)) from
any source other than the Administration;
and
‘‘(iii) that yields cash payments over a
multiyear period acceptable to the Admin-
istration (not to exceed 10 years) in an
amount not less than 30 percent of the
total amount of capital and commitments
raised under paragraph (1); or
‘‘(C) must have binding commitments (for
contributions in cash or in kind) of the type de-
scribed in subparagraph (A) and must have
purchased an annuity of the type described in
subparagraph (B), which in the aggregate make
available, over a multiyear period acceptable to
the Administration (not to exceed 10 years), an
amount not less than 30 percent of the total
154
amount of capital and commitments raised
under paragraph (1).
‘‘(e) FINAL APPROVAL.—The Administration shall
grant to a company conditionally approved under sub-
section (c) final approval to participate in the program es-
tablished under this part after the company has met the
requirements set forth in subsection (d).
‘‘SEC. 355. DEBENTURES.
‘‘(a) IN GENERAL.—The Administration may guar-
antee the timely payment of principal and interest, as
scheduled, on debentures issued by any New Markets Ven-
ture Capital company.
‘‘(b) TERMS AND CONDITIONS.—The Administration
may make guarantees under this section on such terms
and conditions as it deems appropriate, except that the
term of any debenture guaranteed under this section shall
not exceed 15 years.
‘‘(c) FULL FAITH AND CREDIT OF THE UNITED
STATES.—The full faith and credit of the United States
is pledged to pay all amounts that may be required to be
paid under any guarantee under this part.
‘‘(d) MAXIMUM GUARANTEE.—
‘‘(1) IN GENERAL.—Under this section, the Ad-
ministration may guarantee the debentures issued by
a New Markets Venture Capital company only to the
155
extent that the total face amount of outstanding
guaranteed debentures of such company does not ex-
ceed 150 percent of the private capital of the com-
pany, as determined by the Administration.
‘‘(2) 
TREATMENT
OF
CERTAIN
FEDERAL
FUNDS.—For the purposes of paragraph (1), private
capital shall include capital that is considered to be
Federal funds, if such capital is contributed by an
investor other than an agency or department of the
Federal Government.
‘‘SEC. 356. ISSUANCE AND GUARANTEE OF TRUST CERTIFI-
CATES.
‘‘(a) ISSUANCE.—The Administration may issue trust
certificates representing ownership of all or a fractional
part of debentures issued by a New Markets Venture Cap-
ital company and guaranteed by the Administration under
this part, if such certificates are based on and backed by
a trust or pool approved by the Administration and com-
posed solely of guaranteed debentures.
‘‘(b) GUARANTEE.—
‘‘(1) IN GENERAL.—The Administration may,
under such terms and conditions as it deems appro-
priate, guarantee the timely payment of the principal
of and interest on trust certificates issued by the
156
Administration or its agents for purposes of this sec-
tion.
‘‘(2) LIMITATION.—Each guarantee under this
subsection shall be limited to the extent of principal
and interest on the guaranteed debentures that com-
pose the trust or pool.
‘‘(3) PREPAYMENT OR DEFAULT.—In the event
that a debenture in a trust or pool is prepaid, or in
the event of default of such a debenture, the guar-
antee of timely payment of principal and interest on
the trust certificates shall be reduced in proportion
to the amount of principal and interest such prepaid
debenture represents in the trust or pool. Interest on
prepaid or defaulted debentures shall accrue and be
guaranteed by the Administration only through the
date of payment of the guarantee. At any time dur-
ing its term, a trust certificate may be called for re-
demption due to prepayment or default of all deben-
tures.
‘‘(c) FULL FAITH AND CREDIT OF THE UNITED
STATES.—The full faith and credit of the United States
is pledged to pay all amounts that may be required to be
paid under any guarantee of a trust certificate issued by
the Administration or its agents under this section.
157
‘‘(d) FEES.—The Administration shall not collect a
fee for any guarantee of a trust certificate under this sec-
tion, but any agent of the Administration may collect a
fee approved by the Administration for the functions de-
scribed in subsection (f)(2).
‘‘(e) SUBROGATION AND OWNERSHIP RIGHTS.—
‘‘(1) SUBROGATION.—In the event the Adminis-
tration pays a claim under a guarantee issued under
this section, it shall be subrogated fully to the rights
satisfied by such payment.
‘‘(2) OWNERSHIP RIGHTS.—No Federal, State,
or local law shall preclude or limit the exercise by
the Administration of its ownership rights in the de-
bentures residing in a trust or pool against which
trust certificates are issued under this section.
‘‘(f) MANAGEMENT AND ADMINISTRATION.—
‘‘(1) REGISTRATION.—
‘‘(A) IN
GENERAL.—The Administration
may provide for a central registration of all
trust certificates issued under this section.
‘‘(B) FORMS OF REGISTRATION.—Nothing
in this subsection shall prohibit the use of a
book entry or other electronic form of registra-
tion for trust certificates.
‘‘(2) CONTRACTING OF FUNCTIONS.—
158
‘‘(A) IN
GENERAL.—The Administration
may contract with an agent or agents to carry
out on behalf of the Administration the pooling
and the central registration functions provided
for in this section including, notwithstanding
any other provision of law—
‘‘(i) maintenance, on behalf of and
under the direction of the Administration,
of such commercial bank accounts or in-
vestments in obligations of the United
States as may be necessary to facilitate the
creation of trusts or pools backed by de-
bentures guaranteed under this part; and
‘‘(ii) the issuance of trust certificates
to facilitate the creation of such trusts or
pools.
‘‘(B) FIDELITY BOND OR INSURANCE RE-
QUIREMENT.—Any agent performing functions
on behalf of the Administration under this
paragraph shall provide a fidelity bond or insur-
ance in such amounts as the Administration de-
termines to be necessary to fully protect the in-
terests of the United States.
‘‘(3) APPLICABILITY OF THE SECURITIES EX-
CHANGE
ACT
OF 1934.—Notwithstanding section
159
3(a)(42) of the Securities Exchange Act of 1934 (15
U.S.C. 78c(a)(42)), trust certificates issued under
this section shall not be treated as government secu-
rities for the purposes of that Act.
‘‘SEC. 357. FEES.
‘‘Except as provided in section 356(d), the Adminis-
tration may charge such fees as it deems appropriate with
respect to any guarantee or grant issued under this part.
‘‘SEC. 358. OPERATIONAL ASSISTANCE GRANTS.
‘‘(a) IN GENERAL.—
‘‘(1) AUTHORITY.—In accordance with this sec-
tion, the Administration may make grants to New
Markets Venture Capital companies and to other en-
tities, as authorized by this part, to provide oper-
ational assistance to smaller enterprises financed, or
expected to be financed, by such companies or other
entities.
‘‘(2) TERMS.—Grants made under this sub-
section shall be made over a multiyear period not to
exceed 10 years, under such other terms as the Ad-
ministration may require.
‘‘(3) GRANTS TO SPECIALIZED SMALL BUSINESS
INVESTMENT COMPANIES.—
‘‘(A) AUTHORITY.—In accordance with
this section, the Administration may make
160
grants to specialized small business investment
companies to provide operational assistance to
smaller enterprises financed, or expected to be
financed, by such companies after the effective
date of the New Markets Venture Capital Pro-
gram Act of 2000.
‘‘(B) USE OF FUNDS.—
‘‘(i) IN GENERAL.—The proceeds of a
grant made under this paragraph may be
used by the company receiving such grant
only to provide operational assistance in
connection with an equity investment
(made with capital raised after the effec-
tive date of the New Markets Venture Cap-
ital Program Act of 2000) in a business lo-
cated in a low- or moderate-income geo-
graphic area.
‘‘(ii) 
ADDITIONAL
LIMITATION.—
Operational assistance referred to in clause
(i) may not be provided in connection with
more than 1 equity investment.
‘‘(C) SUBMISSION OF PLANS.—A special-
ized small business investment company shall
be eligible for a grant under this section only if
the company submits to the Administrator, in
161
such form and manner as the Administrator
may require, a plan for use of the grant.
‘‘(4) GRANT AMOUNT.—
‘‘(A) NEW
MARKETS
VENTURE
CAPITAL
COMPANIES.—The amount of a grant made
under this subsection to a New Markets Ven-
ture Capital company shall be equal to the re-
sources (in cash or in kind) raised by the com-
pany under with section 354(d)(2).
‘‘(B) OTHER ENTITIES.—The amount of a
grant made under this subsection to any entity
other than a New Markets Venture capital com-
pany shall be equal to the resources (in cash or
in kind) raised by the entity in accordance with
the requirements applicable to New Markets
Venture Capital companies set forth in section
354(d)(2).
‘‘(5) PRO RATA REDUCTIONS.—If the amount
made available to carry out this section is insuffi-
cient for the Administration to provide grants in the
amounts provided for in paragraph (4), the Adminis-
tration shall make pro rata reductions in the
amounts otherwise payable to each company and en-
tity under such paragraph.
‘‘(b) SUPPLEMENTAL GRANTS.—
162
‘‘(1) IN
GENERAL.—The Administration may
make supplemental grants to New Markets Venture
Capital companies and to other entities, as author-
ized by this part, under such terms as the Adminis-
tration may require, to provide additional oper-
ational assistance to smaller enterprises financed, or
expected to be financed, by the companies.
‘‘(2) MATCHING REQUIREMENT.—The Adminis-
tration may require, as a condition of any supple-
mental grant made under this subsection, that the
company or entity receiving the grant provide from
resources (in cash or in kind), other than those pro-
vided by the Administration, a matching contribu-
tion equal to the amount of the supplemental grant.
‘‘(c) LIMITATION.—None of the assistance made
available under this section may be used for any operating
expense of a New Markets Venture Capital company or
a specialized small business investment company.
‘‘SEC. 359. BANK PARTICIPATION.
‘‘(a) IN GENERAL.—Except as provided in subsection
(b), any national bank, any member bank of the Federal
Reserve System, and (to the extent permitted under appli-
cable State law) any insured bank that is not a member
of such system, may invest in any New Markets Venture
163
Capital company, or in any entity established to invest
solely in New Markets Venture Capital companies.
‘‘(b) LIMITATION.—No bank described in subsection
(a) may make investments described in such subsection
that are greater than 5 percent of the capital and surplus
of the bank.
‘‘SEC. 360. FEDERAL FINANCING BANK.
‘‘Section 318 shall not apply to any debenture issued
by a New Markets Venture Capital company under this
part.
‘‘SEC. 361. REPORTING REQUIREMENTS.
‘‘Each New Markets Venture Capital company that
participates in the program established under this part
shall provide to the Administration such information as
the Administration may require, including—
‘‘(1) information related to the measurement
criteria that the company proposed in its program
application; and
‘‘(2) in each case in which the company under
this part makes an investment in, or a loan or grant
to, a business that is not located in a low- or mod-
erate-income geographic area, a report on the num-
ber and percentage of employees of the business who
reside in such areas.
164
‘‘SEC. 362. EXAMINATIONS.
‘‘(a) IN GENERAL.—Each New Markets Venture
Capital company that participates in the program estab-
lished under this part shall be subject to examinations
made at the direction of the Investment Division of the
Administration in accordance with this section.
‘‘(b) ASSISTANCE OF PRIVATE SECTOR ENTITIES.—
Examinations under this section may be conducted with
the assistance of a private sector entity that has both the
qualifications and the expertise necessary to conduct such
examinations.
‘‘(c) COSTS.—
‘‘(1) ASSESSMENT.—
‘‘(A) IN
GENERAL.—The Administration
may assess the cost of examinations under this
section, including compensation of the exam-
iners, against the company examined.
‘‘(B) PAYMENT.—Any company against
which the Administration assesses costs under
this paragraph shall pay such costs.
‘‘(2) DEPOSIT
OF
FUNDS.—Funds collected
under this section shall be deposited in the account
for salaries and expenses of the Administration.
‘‘SEC. 363. INJUNCTIONS AND OTHER ORDERS.
‘‘(a) IN GENERAL.—Whenever, in the judgment of
the Administration, a New Markets Venture Capital com-
165
pany or any other person has engaged or is about to en-
gage in any acts or practices which constitute or will con-
stitute a violation of any provision of this Act, or of any
rule or regulation under this Act, or of any order issued
under this Act, the Administration may make application
to the proper district court of the United States or a
United States court of any place subject to the jurisdiction
of the United States for an order enjoining such acts or
practices, or for an order enforcing compliance with such
provision, rule, regulation, or order, and such courts shall
have jurisdiction of such actions and, upon a showing by
the Administration that such New Markets Venture Cap-
ital company or other person has engaged or is about to
engage in any such acts or practices, a permanent or tem-
porary injunction, restraining order, or other order, shall
be granted without bond.
‘‘(b) JURISDICTION.—In any proceeding under sub-
section (a), the court as a court of equity may, to such
extent as it deems necessary, take exclusive jurisdiction
of the New Market Venture Capital company and the as-
sets thereof, wherever located, and the court shall have
jurisdiction in any such proceeding to appoint a trustee
or receiver to hold or administer under the direction of
the court the assets so possessed.
‘‘(c) ADMINISTRATION AS TRUSTEE OR RECEIVER.—
166
‘‘(1) AUTHORITY.—The Administration may act
as trustee or receiver of a New Markets Venture
Capital company.
‘‘(2) APPOINTMENT.—Upon request of the Ad-
ministration, the court may appoint the Administra-
tion to act as a trustee or receiver of a New Markets
Venture Capital company unless the court deems
such appointment inequitable or otherwise inappro-
priate by reason of the special circumstances in-
volved.
‘‘SEC. 364. ADDITIONAL PENALTIES FOR NONCOMPLIANCE.
‘‘(a) IN GENERAL.—With respect to any New Mar-
kets Venture Capital company that violates or fails to
comply with any of the provisions of this Act, of any regu-
lation issued under this Act, or of any participation agree-
ment entered into under this Act, the Administration may
in accordance with this section—
‘‘(1) void the participation agreement between
the Administration and the company; and
‘‘(2) cause the company to forfeit all of the
rights and privileges derived by the company from
this Act.
‘‘(b) ADJUDICATION OF NONCOMPLIANCE.—
‘‘(1) IN GENERAL.—Before the Administration
may cause a New Markets Venture Capital company
167
to forfeit rights or privileges under subsection (a), a
court of the United States of competent jurisdiction
must find that the company committed a violation,
or failed to comply, in a cause of action brought for
that purpose in the district, territory, or other place
subject to the jurisdiction of the United States, in
which the principal office of the company is located.
‘‘(2) PARTIES AUTHORIZED TO FILE CAUSES OF
ACTION.—Each cause of action brought by the
United States under this subsection shall be brought
by the Administration or by the Attorney General.
‘‘SEC. 365. UNLAWFUL ACTS AND OMISSIONS; BREACH OF
FIDUCIARY DUTY.
‘‘(a) PARTIES DEEMED TO COMMIT A VIOLATION.—
Whenever any New Markets Venture Capital company vio-
lates any provision of this Act, of a regulation issued
under this Act, or of a participation agreement entered
into under this Act, by reason of its failure to comply with
its terms or by reason of its engaging in any act or prac-
tice that constitutes or will constitute a violation thereof,
such violation shall also be deemed to be a violation and
an unlawful act committed by any person who, directly
or indirectly, authorizes, orders, participates in, causes,
brings about, counsels, aids, or abets in the commission
168
of any acts, practices, or transactions that constitute or
will constitute, in whole or in part, such violation.
‘‘(b) FIDUCIARY DUTIES.—It shall be unlawful for
any officer, director, employee, agent, or other participant
in the management or conduct of the affairs of a New
Markets Venture Capital company to engage in any act
or practice, or to omit any act or practice, in breach of
the person’s fiduciary duty as such officer, director, em-
ployee, agent, or participant if, as a result thereof, the
company suffers or is in imminent danger of suffering fi-
nancial loss or other damage.
‘‘(c) UNLAWFUL ACTS.—Except with the written con-
sent of the Administration, it shall be unlawful—
‘‘(1) for any person to take office as an officer,
director, or employee of any New Markets Venture
Capital company, or to become an agent or partici-
pant in the conduct of the affairs or management of
such a company, if the person—
‘‘(A) has been convicted of a felony, or any
other criminal offense involving dishonesty or
breach of trust, or
‘‘(B) has been found civilly liable in dam-
ages, or has been permanently or temporarily
enjoined by an order, judgment, or decree of a
court of competent jurisdiction, by reason of
169
any act or practice involving fraud, or breach of
trust; and
‘‘(2) for any person continue to serve in any of
the capacities described in paragraph (1), if—
‘‘(A) the person is convicted of a felony, or
any other criminal offense involving dishonesty
or breach of trust, or
‘‘(B) the person is found civilly liable in
damages, or is permanently or temporarily en-
joined by an order, judgment, or decree of a
court of competent jurisdiction, by reason of
any act or practice involving fraud or breach of
trust.
‘‘SEC. 366. REMOVAL OR SUSPENSION OF DIRECTORS OR
OFFICERS.
‘‘Using the procedures for removing or suspending a
director or an officer of a licensee set forth in section 313
(to the extent such procedures are not inconsistent with
the requirements of this part), the Administration may re-
move or suspend any director or officer of any New Mar-
kets Venture Capital company.
‘‘SEC. 367. REGULATIONS.
‘‘The Administration may issue such regulations as
it deems necessary to carry out the provisions of this part
in accordance with its purposes.
170
‘‘SEC. 368. AUTHORIZATIONS OF APPROPRIATIONS.
‘‘(a) IN GENERAL.—For fiscal years 2000 through
2005, the Administration is authorized to be appropriated,
to remain available until expended—
‘‘(1) such subsidy budget authority as may be
necessary to guarantee $150,000,000 of debentures
under this part; and
‘‘(2) $30,000,000 to make grants under this
part.
‘‘(b) FUNDS COLLECTED
FOR EXAMINATIONS.—
Funds deposited under section 362(c)(2) are authorized
to be appropriated only for the costs of examinations
under section 362 and for the costs of other oversight ac-
tivities with respect to the program established under this
part.’’.
(c) CONFORMING AMENDMENT.—Section 20(e)(1)(C)
of the Small Business Act (15 U.S.C 631 note) is amend-
ed by inserting ‘‘part A of’’ before ‘‘title III’’.
(d) CALCULATION OF MAXIMUM AMOUNT OF SBIC
LEVERAGE.—
(1) MAXIMUM
LEVERAGE.—Section 303(b)(2)
of the Small Business Investment Act of 1958 (15
U.S.C. 683(b)(2)) is amended to read as follows:
‘‘(2) MAXIMUM LEVERAGE.—
‘‘(A) IN
GENERAL.—After March 31,
1993, the maximum amount of outstanding le-
171
verage made available to a company licensed
under section 301(c) of this Act shall be deter-
mined by the amount of such company’s private
capital—
‘‘(i) if the company has private capital
of not more than $15,000,000, the total
amount of leverage shall not exceed 300
percent of private capital;
‘‘(ii) if the company has private cap-
ital of more than $15,000,000 but not
more than $30,000,000, the total amount
of leverage shall not exceed $45,000,000
plus 200 percent of the amount of private
capital over $15,000,000; and
‘‘(iii) if the company has private cap-
ital of more than $30,000,000, the total
amount of leverage shall not exceed
$75,000,000 plus 100 percent of the
amount of private capital over $30,000,000
but 
not 
to 
exceed 
an 
additional
$15,000,000.
‘‘(B) ADJUSTMENTS.—
‘‘(i) 
IN
GENERAL.—The 
dollar
amounts in clauses (i), (ii), and (iii) of
subparagraph (A) shall be adjusted annu-
172
ally to reflect increases in the Consumer
Price Index established by the Bureau of
Labor Statistics of the Department of
Labor.
(ii) INITIAL ADJUSTMENTS.—The ini-
tial adjustments made under this subpara-
graph after the date of enactment of the
Small Business Reauthorization Act of
1997 shall reflect only increases from
March 31, 1993.
‘‘(C) INVESTMENTS
IN
LOW- OR
MOD-
ERATE INCOME AREAS.—In calculating the out-
standing leverage of a company for the pur-
poses of subparagraph (A), the Administrator
shall not include the amount of the cost basis
of any equity investment made by the company
in a smaller enterprise located in a low- or mod-
erate-income geographic area (as defined in sec-
tion 351), to the extent that the total of such
amounts does not exceed 50 percent of the com-
pany’s private capital.’’.
(2) MAXIMUM AGGREGATE LEVERAGE.—Section
303(b)(4) of the Small Business Investment Act of
1958 (15 U.S.C. 683(b)(4)) is amended by adding
at the end the following new subparagraph:
173
‘‘(D) INVESTMENTS
IN
LOW- OR
MOD-
ERATE INCOME AREAS.—In calculating the ag-
gregate outstanding leverage of a company for
the purposes of subparagraph (A), the Adminis-
trator shall not include the amount of the cost
basis of any equity investment made by the
company in a smaller enterprise located in a
low- or moderate-income geographic area (as
defined in section 351), to the extent that the
total of such amounts does not exceed 50 per-
cent of the company’s private capital.’’.
(e) BANKRUPTCY EXEMPTION FOR NEW MARKETS
VENTURE CAPITAL COMPANIES.—Section 109(b)(2) of
title 11, United States Code, is amended by inserting ‘‘a
New Markets Venture Capital company as defined in sec-
tion 351 of the Small Business Investment Act of 1958,’’
after ‘‘homestead association,’’.
(f) 
FEDERAL
SAVINGS
ASSOCIATIONS.—Section
5(c)(4) of the Home Owners’ Loan Act (12 U.S.C.
1464(c)(4)) is amended by adding at the end the fol-
lowing:
‘‘(F) NEW
MARKETS
VENTURE
CAPITAL
COMPANIES.—A Federal savings association
may invest in stock, obligations, or other securi-
ties of any New Markets Venture Capital com-
174
pany as defined in section 351 of the Small
Business investment Act of 1958, except that a
Federal savings association may not make any
investment under this subparagraph if its ag-
gregate outstanding investment under this sub-
paragraph would exceed 5 percent of the capital
and surplus of such savings association.’’.
SEC. 706. BUSINESSLINC GRANTS AND COOPERATIVE
AGREEMENTS.
Section 8 of the Small Business Act (15 U.S.C. 637)
is amended by adding at the end the following:
‘‘(m) BUSINESSLINC GRANTS
AND COOPERATIVE
AGREEMENTS.—
‘‘(1) IN
GENERAL.—In accordance with this
subsection, the Administrator may make grants to
and enter into cooperative agreements with any coa-
lition of private entities, public entities, or any com-
bination of private and public entities—
‘‘(A) to expand business-to-business rela-
tionships between large and small businesses;
and
‘‘(B) to provide businesses, directly or indi-
rectly, with online information and a database
of companies that are interested in mentor-
175
prote´ge´ programs or community-based, state-
wide, or local business development programs.
‘‘(2) MATCHING
REQUIREMENT.—Subject to
subparagraph (B), the Administrator may make a
grant to a coalition under paragraph (1) only if the
coalition provides for activities described in para-
graph (1)(A) or (1)(B) an amount, either in kind or
in cash, equal to the grant amount.
‘‘(3) AUTHORIZATION
OF
APPROPRIATIONS.—
There is authorized to be appropriated to carry out
this subsection $6,600,000, to remain available until
expended, for each of fiscal years 2001 through
2003.’’.
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