(i) by striking ‘‘(3) The Small Busi-
ness’’ and inserting the following:
‘‘(3) ADMINISTRATION OF PROGRAM.—
‘‘(A) GENERAL MANAGEMENT AND OVER-
SIGHT.—The Small Business’’;
(ii) by striking ‘‘(A) Small Business’’
and inserting the following:
‘‘(B) ASSOCIATION
OF
SMALL
BUSINESS
DEVELOPMENT CENTERS.—Small Business’’;
(iii) by striking ‘‘(B) Provisions’’ and
inserting the following:
‘‘(C) AUDITS, COST PRINCIPALS, AND AD-
MINISTRATIVE
REQUIREMENTS.—Provisions’’;
and
(iv) by aligning the remainder of the
text of each of subparagraphs (A), (B),
and (C), as designated by clauses (i), (ii),
and (iii) of this subparagraph, with the
text of subparagraph (D), as added by
paragraph (1) of this subsection; and
(B) in subsection (k)(2) by striking ‘‘sub-
section (a)(3)(A)’’ and inserting ‘‘subsection
(a)(3)(B)’’.
(c) ASSOCIATE ADMINISTRATOR FOR SMALL BUSI-
NESS DEVELOPMENT CENTERS.—
(1) DUTIES.—Section 21(h) (15 U.S.C. 648(h))
is amended to read as follows:
‘‘(h) ASSOCIATE ADMINISTRATOR FOR SMALL BUSI-
NESS DEVELOPMENT CENTERS.—
‘‘(1) APPOINTMENT AND COMPENSATION.—The
Administrator shall appoint an Associate Adminis-
trator for Small Business Development Centers who
shall report to an official who is not more than one
level below the Office of the Administrator and who
shall serve without regard to the provisions of title
5 governing appointments in the competitive service,
and without regard to chapter 51, and subchapter
III of chapter 53 of such title relating to classifica-
tion and General Schedule pay rates, but at a rate
not less than the rate of GS–17 of the General
Schedule.
‘‘(2) DUTIES.—
‘‘(A) IN GENERAL.—The sole responsibility
of the Associate Administrator for Small Busi-
ness Development Centers shall be to admin-
ister the small business development center pro-
gram. Duties of the position shall include, but
are not limited to, recommending the annual
program budget, reviewing the annual budgets
submitted by each applicant, establishing appro-
priate funding levels therefore, selecting appli-
cants to participate in this program, implement-
ing the provisions of this section, maintaining a
clearinghouse to provide for the dissemination
and exchange of information between small
business development centers and conducting
audits of recipients of grants under this section.
‘‘(B) CONSULTATION REQUIREMENTS.—In
carrying out the duties described in this sub-
section, the Associate Administrator shall con-
fer with and seek the advice of the Board estab-
lished by subsection (i) and Administration offi-
cials in areas served by the small business de-
velopment centers; however, the Associate Ad-
ministrator shall be responsible for the manage-
ment and administration of the program and
shall not be subject to the approval or concur-
rence of such Administration officials.’’.
(2) REFERENCES
TO
ASSOCIATE
ADMINIS-
TRATOR.—Section 21 (15 U.S.C. 648) is amended—
(A) in subsection (c)(7) by striking ‘‘Dep-
uty Associate Administrator of the Small Busi-
ness Development Center program’’ and insert-
ing ‘‘Associate Administrator for Small Busi-
ness Development Centers’’; and
(B) in subsection (i)(2) by striking ‘‘Dep-
uty Associate Administrator for Management
Assistance’’ and inserting ‘‘Associate Adminis-
trator for Small Business Development Cen-
ters’’.
(d) EXTENSION
OR RENEWAL
OF COOPERATIVE
AGREEMENTS.—Section 21(k)(3) (15 U.S.C. 648(k)(3)) is
amended to read as follows:
‘‘(3) EXTENSION OR RENEWAL OF COOPERA-
TIVE AGREEMENTS.—
‘‘(A) IN
GENERAL.—In extending or re-
newing a cooperative agreement of a small busi-
ness development center, the Administration
shall consider the results of the examination
and certification program conducted pursuant
to paragraphs (1) and (2).
‘‘(B) 
CERTIFICATION
REQUIREMENT.—
After September 30, 2000, the Administration
may not renew or extend any cooperative agree-
ment with a small business development center
unless the center has been approved under the
certification program conducted pursuant to
this subsection; except that the Associate Ad-
ministrator for Small Business Development
Centers may waive such certification require-
ment, in the discretion of the Associate Admin-
istrator, upon a showing that the center is mak-
ing a good faith effort to obtain certification.’’.
(e) TECHNICAL CORRECTION.—Section 21(l) (15
U.S.C. 648(l)) is amended to read as follows:
‘‘(l) CONTRACT AUTHORITY.—The authority to enter
into contracts shall be in effect for each fiscal year only
to the extent and in the amounts as are provided in ad-
vance in appropriations Acts. After the administration has
entered a contract, either as a grant or a cooperative
agreement, with any applicant under this section, it shall
not suspend, terminate, or fail to renew or extend any
such contract unless the Administration provides the ap-
plicant with written notification setting forth the reasons
therefor and affording the applicant an opportunity for a
hearing, appeal, or other administrative proceeding under
the provisions of chapter 7 of title 5, United States
Code.’’.
SEC. 107. WOMEN’S DEMONSTRATION GRANT PROGRAM.
Section 29(g) (15 U.S.C. 656(g)) is amended by
striking ‘‘1997’’ and inserting ‘‘1996’’.
SEC. 108. NONJUDICIAL FORECLOSURE.
The Small Business Act (15 U.S.C. 631 et seq.) is
amended by redesignating section 30 as section 31 and
by inserting after section 29 the following:
‘‘SEC. 30. NONJUDICIAL FORECLOSURE.
‘‘(a) GENERAL RULE.—The Administrator may fore-
close a mortgage upon a breach of a covenant or condition
in a debt instrument or mortgage if such debt instrument
or mortgage authorizes acceleration or foreclosure.
‘‘(b) DESIGNATION AND REMOVAL OF TRUSTEE.—
‘‘(1) DESIGNATION.—The Administrator shall,
in writing, designate by name, title, or position, a
foreclosure trustee who shall have the power to con-
duct a foreclosure sale pursuant to this section and
shall supersede any trustee designated in the mort-
gage. The Administrator may designate as fore-
closure trustee—
‘‘(A) an officer or employee of the Small
Business Administration;
‘‘(B) an individual who is a resident of the
State in which the security property is located;
or
‘‘(C) a partnership, association, or corpora-
tion authorized to transact business under the
laws of the State in which the security property
is located.
‘‘(2) AUTHORIZATION
FOR
MULTIPLE
FORE-
CLOSURE TRUSTEES.—The Administrator may des-
ignate such foreclosure trustees as the Administrator
determines necessary to carry out the purposes of
this section. The Administrator may designate one
or more foreclosure trustees for the purpose of pro-
ceedings with multiple foreclosures or a class of fore-
closures.
‘‘(3) REMOVAL OF FORECLOSURE TRUSTEES.—
The Administrator may remove a foreclosure trustee
and designate a successor trustee as provided in this
section. The foreclosure sale shall continue, notwith-
standing the removal of the foreclosure trustee and
designation of a successor foreclosure trustee, unless
otherwise postponed by the successor foreclosure
trustee.
‘‘(c) NOTICE OF FORECLOSURE SALE.—
‘‘(1) IN GENERAL.—
‘‘(A) Not earlier than 21 days nor later
than twenty years after acceleration of a debt
instrument or demand on a guaranty, the fore-
closure trustee shall serve a notice of a fore-
closure sale in accordance with this section. In
computing the time period, all periods during
which there is in effect a judicially imposed stay
of foreclosure or a stay imposed by section 362
of title 11, United States Code, shall be ex-
cluded.
‘‘(B) In the event of partial payment or
written acknowledgement of the debt after ac-
celeration of the debt instrument, the right to
foreclosure shall be deemed to accrue again at
the time of each such payment or acknowledge-
ment.
‘‘(2) 
REQUIREMENTS
OF
FORECLOSURE
SALE.—The notice of foreclosure sale shall include—
‘‘(A) the name, title, and business address
of the foreclosure trustee as of the date of the
notice;
‘‘(B) the names of the original parties to
the debt instrument and the mortgage, and any
assignees of the mortgagor of record;
‘‘(C) the street address or location of the
security property, and a generally accepted des-
ignation used to describe the security property,
or so much thereof as is to be offered for sale,
sufficient to identify the property to be sold;
‘‘(D) the date of the mortgage, the office
in which the mortgage is filed, and the location
of the filing of the mortgage;
‘‘(E) a statement that a default has oc-
curred, and the date of the acceleration of the
debt instrument;
‘‘(F) the date, time, and place of the fore-
closure sale;
‘‘(G) a statement that the foreclosure is
being conducted in accordance with this Act;
‘‘(H) the types of costs, if any, to be paid
by the purchaser upon transfer of title; and
‘‘(I) the terms and conditions of sale, in-
cluding the method and time of payment of the
foreclosure purchase price.
‘‘(3) SERVICE
OF
NOTICE
OF
FORECLOSURE
SALE.—
‘‘(A) RECORD NOTICE.—Not later than 21
days before the date of the foreclosure sale, no-
tice of foreclosure sale shall be filed in the man-
ner authorized for filing a notice of an action
concerning real property according to the law of
the State in which the security property is lo-
cated.
‘‘(B) NOTICE BY MAIL.—
‘‘(i) Not later than 21 days before the
date of the foreclosure sale, notice of the
foreclosure shall be sent by registered or
certified mail, return receipt requested
to—
‘‘(I) the current owner of record
of the security property as the record
appears on the date that the notice of
foreclosure sale is recorded pursuant
to subsection (a);
‘‘(II) all debtors, including the
mortgagor, assignees of record of the
mortgagor, and guarantors of the debt
instrument;
‘‘(III) all persons having liens,
interests or encumbrances of record
upon the security property, as the
record appears on the date that the
notice of foreclosure sale is recorded
pursuant to subsection (a); and
‘‘(IV) any occupants of the secu-
rity property.
If the names of the occupants of the security
property are not known to the agency, or the
security property has more than one dwelling
unit, the notice shall be posted at the security
property.
‘‘(C) NOTICE BY PUBLICATION.—Notice of
a foreclosure sale shall be published for three
successive weeks prior to the sale in a news-
paper of general circulation in any county or
counties in which the security property is lo-
cated. In a case in which no newspaper has a
weekly general circulation in at least one county
in which the security property is located, a copy
of the notice of foreclosure sale shall be posted
at least 21 days prior to the sale at the court-
house of any county or counties in which the
property is located and at the place where the
sale is to be held.
‘‘(d) CANCELLATION OF FORECLOSURE SALE.—
‘‘(1) IN
GENERAL.—The foreclosure trustee
shall cancel the foreclosure sale, at any time prior to
the sale—
‘‘(A) if the debtor or the holder of any sub-
ordinate interest in the security property
tenders the performance due under the debt in-
strument and mortgage, including any amounts
due because of the exercise of the right to accel-
erate, and the expenses of proceeding to fore-
closure incurred to the time of tender; or
‘‘(B) if the security property is the prin-
cipal dwelling of the debtor, and the debtor—
‘‘(i) pays or tenders all sums which
would have been due at the time of tender
in the absence of any acceleration;
‘‘(ii) performs any other obligation
which would have been required in the ab-
sence of any acceleration; and
‘‘(iii) pays or tenders all costs of fore-
closure incurred for which payment from
the proceeds of the sale would be allowed;
or
‘‘(C) or any reason approved by the Ad-
ministrator.
‘‘(2) LIMITATION.—The debtor may not, with-
out the approval of the Administrator, cure the de-
fault under paragraph (1)(B) if, within the preced-
ing 12 months, the debtor has cured a default after
being served with a notice of foreclosure sale pursu-
ant to this Act.
‘‘(3) NOTICE
OF
CANCELLATION.—The fore-
closure trustee shall file a notice of the cancellation
in the same place and manner provided for the filing
of the notice of foreclosure sale under paragraph (2).
‘‘(e) STAY.—If, prior to the time of sale, foreclosure
proceedings under this section are stayed in any manner,
including the filing of bankruptcy, no person may there-
after cure the default under the provisions of subsection
(d)(1)(B) without the approval of the Administrator. If
the default is not cured at the time a stay is terminated,
the foreclosure trustee shall proceed to sell the security
property as provided in this section.
‘‘(f) CONDUCT OF SALE.—
‘‘(1) SALE PROCEDURES.—Any foreclosure sale
conducted pursuant to this section shall be at a pub-
lic auction between the hours of 9:00 a.m. and 4:00
p.m. The foreclosure sale shall be held at the loca-
tion specified in the notice of foreclosure sale, which
shall be a location where real estate foreclosure auc-
tions are customarily held in the county or one of
the counties in which the property to be sold is lo-
cated or at a courthouse therein, or upon the prop-
erty to be sold. Sale of security property situated in
two or more counties may be held in any one of the
counties in which any part of the security property
is situated. The foreclosure trustee may designate
the order in which multiple tracts of security prop-
erty are sold.
‘‘(2) BIDDING
REQUIREMENTS.—Written one-
price sealed bids may be accepted by the foreclosure
trustee, if submitted by the Administrator or other
persons for entry by announcement by the fore-
closure trustee at the sale. The sealed bids shall be
submitted in accordance with the terms set forth in
the notice of foreclosure sale. The Administrator or
any other person may bid at the foreclosure sale,
even if the Administrator or other person previously
submitted a written one-price bid. The Adminis-
trator may bid a credit against the debt due without
the tender or payment of cash. The foreclosure
trustee may serve as auctioneer, or may employ an
auctioneer who may be paid from the sale proceeds.
If an auctioneer is employed, the foreclosure trustee
is not required to attend the sale. The foreclosure
trustee or an auctioneer may bid as directed by the
Administrator.
‘‘(3) POSTPONEMENT
OF
SALE.—The fore-
closure trustee shall have discretion, prior to or at
the time of sale, to postpone the foreclosure sale.
The foreclosure trustee may postpone a sale to a
later hour the same day by announcing or posting
the new time and place of the foreclosure sale at the
time and place originally scheduled for the fore-
closure sale. The foreclosure trustee may instead
postpone the foreclosure sale for not fewer than 9
nor more than 31 days, by serving notice that the
foreclosure sale has been postponed to a specified
date, and the notice may include any revisions the
foreclosure trustee deems appropriate. The notice
shall be served by publication, mailing, and, if ap-
propriate, posting in accordance with subsection (c),
except that publication may be made on any of three
separate days prior to the new date of the fore-
closure sale, and mailing may be made at any time
at least 7 days prior to the new date of the fore-
closure sale.
‘‘(4) LIABILITY OF SUCCESSFUL BIDDER WHO
FAILS TO COMPLY.—The foreclosure trustee may re-
quire a bidder to make a cash deposit before the bid
is accepted. The amount or percentage of the cash
deposit shall be stated by the foreclosure trustee in
the notice of foreclosure sale. A successful bidder at
the foreclosure sale who fails to comply with the
terms of the sale shall forfeit the cash deposit or, at
the election of the foreclosure trustee, shall be liable
to the agency on a subsequent sale of the property
for all net losses incurred by the agency as a result
of such failure.
‘‘(5) EFFECT OF SALE.—Any foreclosure sale
held in accordance with this Act shall be conclusively
presumed to have been conducted in a legal, fair,
and commercially reasonable manner. The sale price
shall be conclusively presumed to constitute the rea-
sonably equivalent value of the security property.
‘‘(g) TRANSFER OF TITLE AND POSSESSION.—
‘(1) DEED.—After receipt of the purchase price in
accordance with the terms of the sale as provided in
the notice of foreclosure sale, the foreclosure trustee
shall execute and deliver to the purchaser a deed
conveying the security property to the purchaser
that grants and conveys title to the security property
without warranty or covenants to the purchaser. The
execution of the foreclosure trustee’s deed shall have
the effect of conveying all of the right, title, and in-
terest in the security property covered by the mort-
gage. Notwithstanding any other law provision of
law, the foreclosure trustee’s deed shall constitute a
conveyance of the security property.
‘‘(2) DEATH
OF
PURCHASER
PRIOR
TO
CON-
SUMMATION OF SALE.—If a purchaser dies before
execution and delivery of the deed conveying the se-
curity property to the purchaser, the foreclosure
trustee shall execute and deliver the deed to the rep-
resentative of the purchaser’s estate upon payment
of the purchase price in accordance with the terms
of sale. Such delivery to the representative of the
purchaser’s estate shall have the same effect as if
accomplished during the lifetime of the purchaser.
‘‘(3) PURCHASER CONSIDERED BONA FIDE PUR-
CHASER WITHOUT NOTICE.—The purchaser of prop-
erty under this Act shall be presumed to be a bona
fide purchaser without notice of defects, if any, in
the title conveyed to the purchaser.
‘‘(4) POSSESSION BY PURCHASER; CONTINUING
INTERESTS.—A purchaser at a foreclosure sale con-
ducted pursuant to this Act shall be entitled to pos-
session upon passage of title to the security prop-
erty, subject to any interest or interests senior to
that of the mortgage. The right to possession of any
person without an interest senior to the mortgage
who is in possession of the property shall terminate
immediately upon the passage of title to the security
property, and the person shall vacate the security
property immediately. The purchaser shall be enti-
tled to take any steps available under Federal law or
State law to obtain possession.
‘‘(5) RIGHT OF REDEMPTION; RIGHT OF POS-
SESSION.—This Act shall preempt all Federal and
State rights of redemption or possession under stat-
utory or common law. Upon conclusion of the public
‘‘(2) EFFECT OF RECITALS.—The recitals set
forth in paragraph (1) shall be prima facie evidence
of the truth of such recitals. Compliance with the re-
quirements of paragraph (1) shall create a conclu-
sive presumption of the validity of the sale in favor
of bona fide purchasers and encumbrancers for value
without notice.
‘‘(3) DEED TO BE ACCEPTED FOR FILING.—
The register of deeds or other appropriate official of
the county or counties where real estate deeds are
regularly filed shall accept for filing and shall file
the foreclosure trustee’s deed and affidavit, if any,
and any other instruments submitted for filing in re-
lation to the foreclosure of the security property
under this Act.
‘‘(h) EFFECT OF SALE.—A sale conducted under this
Act to a bona fide purchaser shall bar all claims upon the
security property by—
‘‘(1) any person to whom the notice of fore-
closure sale was mailed as provided in this Act who
claims an interest in the property subordinate to
that of the mortgage, and the heir, devisee, executor,
administrator, successor, or assignee claiming under
any such person;
‘‘(2) any person claiming any interest in the
property subordinate to that of the mortgage, if such
person had actual knowledge of the sale;
‘‘(3) any person so claiming, whose assignment,
mortgage, or other conveyance was not filed in the
proper place for filing, or whose judgment or decree
was not filed in the proper place for filing, prior to
the date of filing of the notice of foreclosure sale as
required by subsection (c), and the heir, devisee, ex-
ecutor, administrator, successor, or assignee of such
a person; or
‘‘(4) any other person claiming under a statu-
tory lien or encumbrance not required to be filed
and attaching to the title or interest of any person
designated in any of the foregoing subsections of
this section.
‘‘(i) DISPOSITION OF SALE PROCEEDS.—
‘‘(1) DISTRIBUTION OF SALE PROCEEDS.—The
foreclosure trustee shall distribute the proceeds of
the foreclosure sale in the following order:
‘‘(A)(i) First, to pay the commission of the
foreclosure trustee, other than an agency em-
ployee, in an amount not to exceed 5 percent of
the sum collected, plus the foreclosure trustee’s
costs.
‘‘(ii) The amounts described in clause (i)
shall be computed on the gross proceeds of all
security property sold at a single sale.
‘‘(B) Thereafter, to pay the expense of any
auctioneer employed by the foreclosure trustee,
if any, except that the commission payable to
the foreclosure trustee pursuant to subpara-
graph (A) shall be reduced by the amount paid
to an auctioneer, unless the Administrator de-
termines that such reduction would adversely
affect the ability of the Administrator to retain
qualified foreclosure trustees or auctioneers.
‘‘(C) Thereafter, to pay for the costs of
foreclosure, including—
‘‘(i) reasonable and necessary adver-
tising costs and postage incurred in giving
notice pursuant to subsection (c);
‘‘(ii) mileage for posting notices and
for the foreclosure trustee’s or auctioneer’s
attendance at the sale at the rate provided
in section 1921 of title 28, United States
Code, for mileage by the most reasonable
road distance;
‘‘(iii) reasonable and necessary costs
actually incurred in connection with any
search of title and lien records; and
‘‘(iv) necessary costs incurred by the
foreclosure trustee to file documents.
‘‘(D) Thereafter, to pay valid real property
tax liens or assessments, if required by the no-
tice of foreclosure sale.
‘‘(E) Thereafter, to pay any liens senior to
the mortgage, if required by the notice of fore-
closure sale.
‘‘(F) Thereafter, to pay service charges
and advancements for taxes, assessments, and
property insurance premiums.
‘‘(G) Thereafter, to pay late charges and
other administrative costs and the principal and
interest balances secured by the mortgagee in-
cluding expenditures for the necessary protec-
tions preservation, and repair of the security
property as authorized under the debt instru-
ment or mortgage and interest thereon if pro-
vided for in the debt instrument or mortgage,
pursuant to the agency’s procedures.
‘‘(2) INSUFFICIENT PROCEEDS.—In the event
there are no proceeds of sale or the proceeds are in-
sufficient to pay the costs and expenses set forth in
paragraph (1), the Administrator shall pay such
costs and expenses as authorized by applicable law.
‘‘(3) SURPLUS MONEYS.—
‘‘(A) After making the payments required
by paragraph (1), the foreclosure trustee
shall—
‘‘(i) distribute any surplus to pay liens
in the order of priority under Federal law
or the law of the State where the security
property is located; and
‘‘(ii) pay to the person who was the
owner of record on the date the notice of
foreclosure sale was filed the balance, if
any, after any payments made pursuant to
paragraph (1).
‘‘(B) If the person to whom such surplus
is to be paid cannot be located, or if the surplus
available is insufficient to pay all claimants and
the claimants cannot agree on the distribution
of the surplus, that portion of the sale proceeds
may be deposited by the foreclosure trustee
with an appropriate official authorized under
law to receive funds under such circumstances.
If such a procedure for the deposit of disputed
funds is not available, and the foreclosure trust-
ee files a bill of interpleader or is sued as a
stakeholder to determine entitlement to such
funds, the foreclosure trustee’s necessary costs
in taking or defending such action shall be de-
ducted first from the disputed funds.
‘‘(j) DEFICIENCY JUDGMENT.—
‘‘(1) IN GENERAL.—If after deducting the dis-
bursements described in section 13, the price at
which the security property is sold at a foreclosure
sale is insufficient to pay the unpaid balance of the
debt secured by the security property, counsel for
the agency may commence an action or actions
against any or all debtors to recover the deficiency,
unless specifically prohibited by the mortgage. The
agency is also entitled to recover any amount au-
thorized by section 11 and costs of the action.
‘‘(2) LIMITATION.—Any action commenced to
recover the deficiency shall be brought within 6
years of the last sale of security property.
‘‘(3) CREDITS.—The amount payable by a pri-
vate mortgage guaranty insurer shall be credited to
the account of the debtor prior to the commence-
ment of an action for any deficiency owed by the
debtor. Nothing in this subsection shall curtail or
limit the subrogation rights of a private mortgage
guaranty insurer.’’.
SEC. 109. MISCELLANEOUS AUTHORITIES TO PROVIDE
LOANS AND OTHER FINANCIAL ASSISTANCE.
(a) FUNDING LIMITATION; SEMINARS.—Section 7(d)
(15 U.S.C. 636(d)) is repealed.
(b) TRADE ADJUSTMENT LOANS.—Section 7(e) (15
U.S.C. 636(e)) is repealed.
(c) WAIVER OF CREDIT ELSEWHERE TEST FOR COL-
LEGES
AND UNIVERSITIES.—Section 7(f) (15 U.S.C.
636(f)) is repealed.
(d) LOANS TO HANDICAPPED PERSONS AND ORGANI-
ZATIONS
FOR
THE HANDICAPPED.—Section 7(h) (15
U.S.C. 636(h)) is repealed.
(e) LOANS
TO SMALL BUSINESS CONCERNS LO-
CATED IN URBAN OR RURAL AREAS WITH HIGH PROPOR-
TIONS
OF
UNEMPLOYED
OR
LOW-INCOME
INDIVID-
UALS.—Section 7(i) (15 U.S.C. 636(i)) is repealed.
(f) LOANS
TO SMALL BUSINESS CONCERNS
FOR
SOLAR ENERGY
AND ENERGY CONSERVATION MEAS-
URES.—Section 7(l) (15 U.S.C. 636(l)) is repealed.
SEC. 
110. 
SMALL 
BUSINESS 
COMPETITIVENESS 
DEM-
ONSTRATION PROGRAM.
(a) EXTENSION OF DEMONSTRATION PROGRAM.—
Section 711(c) of the Small Business Competitiveness
Demonstration Program Act of 1988 (15 U.S.C. 644 note;
102 Stat. 3890) is amended by striking ‘‘September 30,
1996’’ and inserting ‘‘September 30, 2000’’.
(b) REPORTING OF SUBCONTRACT PARTICIPATION IN
CONTRACTS
FOR ARCHITECTURAL
AND ENGINEERING
SERVICES.—Section 714(b)(5) of the Small Business
Competitiveness Demonstration Program Act of 1988 (15
U.S.C. 644 note; 102 Stat. 3892) is amended to read as
follows:
‘‘(5) DURATION.—The system described in sub-
section (a) shall be established not later than Octo-
ber 1, 1996 (or as soon as practicable thereafter on
the first day of a subsequent quarter of fiscal year
1997), and shall terminate on September 30,
2000.’’.
(c) REFERENCES TO ARCHITECTURAL AND ENGI-
NEERING SERVICES.—
(1) IN GENERAL.—The Small Business Com-
petitiveness Demonstration Program Act of 1988
(15 U.S.C. 644 note; 102 Stat. 3889 et seq.) is
amended by striking ‘‘architectural and engineering
services (including surveying and mapping)’’ each
place it appears and inserting ‘‘architectural and en-
gineering services (including surveying, mapping,
and landscape architecture)’’.
(2) DESIGNATED INDUSTRY GROUPS.—Section
717(d) of the Small Business Competitiveness Dem-
onstration Program Act of 1988 (15 U.S.C. 644
note; 102 Stat. 3894) is amended by inserting
‘‘standard industrial classification codes 0731 and
0739 (if identified as pertaining to mapping serv-
ices),’’ after ‘‘(if identified as pertaining to mapping
services),’’.
(d) SMALL BUSINESS PARTICIPATION GOALS.—
(1) ENHANCED
GOALS
FOR
DESIGNATED
IN-
DUSTRY
GROUPS.—Section 712(a) of the Small
Business Competitiveness Demonstration Program
Act of 1988 (15 U.S.C. 644 note; 102 Stat. 3890)
is amended to read as follows:
‘‘(a) ENHANCED GOALS FOR DESIGNATED INDUSTRY
GROUPS.—Each participating agency shall establish an
annual small business participation goal (calculated on the
basis of the total dollar value of contract awards) that is—
‘‘(1) 35 percent in the case of the designated
industry group for architectural and engineering
services (including surveying, mapping, and land-
scape architecture); or
‘‘(2) 40 percent in the case of each of the other
designated industry groups.’’.
(2) EMERGING SMALL BUSINESS CONCERNS.—
(A) REPEAL OF RESERVE.—Section 712(b)
of the Small Business Competitiveness Dem-
onstration Program Act of 1988 (15 U.S.C.
644 note; 102 Stat. 3890–3891) is amended to
read as follows:
‘‘(b) øReserved¿.’’.
(B) 
CONFORMING
AMENDMENT.—Section
713(b) of the Small Business Competitiveness Dem-
onstration Program Act of 1988 (15 U.S.C. 644
note; 102 Stat. 3892) is amended by striking ‘‘,
which are in excess of the reserve thresholds speci-
fied pursuant to section 712(b)’’.
(3) MODIFICATIONS TO SOLICITATION PRACTICES.—
Section 712(d)(3) of the Small Business Competitiveness
Demonstration Program Act of 1988 (15 U.S.C. 644 note;
102 Stat. 3891) is amended by striking ‘‘40 percent of
the contract awards’’ and inserting ‘‘the percentage appli-
cable to the designated industry group pursuant to sub-
section (a)’’.
(e) PARTICIPATING AGENCY.—Section 718(c) of the
Small Business Competitiveness Demonstration Program
Act of 1988 (15 U.S.C. 644 note; 102 Stat. 3894) is
amended—
(1) by striking ‘‘as part of the Program test
plan’’;
(2) by redesignating paragraphs (2) through
(10) as paragraphs (3) through (11), respectively;
and
(3) by inserting after paragraph (1) the follow-
ing:
‘‘(2) the Department of Commerce,’’.
(f) REPORTS TO CONGRESS.—
(1) IN GENERAL.—Section 716 of the Small
Business Competitiveness Demonstration Program
Act of 1988 (15 U.S.C. 644 note; 102 Stat. 3893)
is amended—
(A) in subsection (a), by striking ‘‘fiscal
year 1991 and 1995’’ and inserting ‘‘each of
fiscal year beginning with fiscal year 1991 and
ending with fiscal year 1999’’;
(B) in subsection (a), by striking ‘‘results’’
and inserting ‘‘cumulative results’’; and
(C) in subsection (c), by striking ‘‘1996’’
and inserting ‘‘1999’’.
(2) CUMULATIVE
REPORT
THROUGH
FISCAL
YEAR 1995.—A cumulative report of the results of
the Small Business Competitiveness Demonstration
Program for fiscal years 1991 through 1995 shall be
submitted not later than 60 days after the date of
the enactment of this Act pursuant to section 716(a)
of the Small Business Competitiveness Demonstra-
tion Program Act of 1988 (15 U.S.C. 644 note; 102
Stat. 3893), as amended by paragraph (1) of this
subsection.
SEC. 111. AMENDMENT TO SMALL BUSINESS GUARANTEED
CREDIT ENHANCEMENT ACT OF 1993.
Section 7 of the Small Business Guaranteed Credit
Enhancement Act of 1993 (Public Law 103–81; 15 U.S.C.
634 note) is repealed effective September 29, 1996.
TITLE 
II—AMENDMENTS 
TO
SMALL 
BUSINESS 
INVEST-
MENT ACT
SEC. 201. REFERENCES.
Except as otherwise expressly provided, whenever in
this title an amendment or repeal is expressed in terms
of an amendment to, or repeal of, a section or other provi-
sion, the reference shall be considered to be made to a
section or other provision of the Small Business Invest-
ment Act of 1958 (15 U.S.C. 661 et seq.).
SEC. 202. MODIFICATIONS TO DEVELOPMENT COMPANY
DEBENTURE PROGRAM.
(a) INCREASED LOAN TO VALUE RATIOS.—Section
502(3) (15 U.S.C. 696(3)) is amended to read as follows:
‘‘(3) CRITERIA FOR ASSISTANCE.—
‘‘(A) IN GENERAL.—Any development com-
pany assisted under this section must meet the
criteria established by the Administration, in-
cluding the extent of participation to be re-
quired or amount of paid-in capital to be used
in each instance as is determined to be reason-
able by the Administration.
‘‘(B) COMMUNITY INJECTION FUNDS.—
‘‘(i) SOURCES
OF
FUNDS.—Commu-
nity injection funds may be derived, in
whole or in part, from—
‘‘(I) State or local governments;
‘‘(II) banks or other financial in-
stitutions;
‘‘(III) foundations or other not-
for-profit institutions; or
‘‘(IV) the small business concern
(or its owners, stockholders, or affili-
ates) receiving assistance through a
body authorized by this title.
‘‘(ii) 
FUNDING
FROM
INSTITU-
TIONS.—Not less than 50 percent of the
total cost of the project to be financed
shall come from the institutions described