To provide for an additional temporary extension of programs under the Small Business Act and the Small Business Investment Act of 1958, and for other purposes.

Bill: 111-hr-3614
Sponsor: Rep. Velazquez, Nydia M. [D-NY-12]
Introduced: 2009-09-22 in the House
Policy area: Commerce
Subjects: Business investment and capital
Government lending and loan guarantees
Minority and disadvantaged businesses
Public contracts and procurement
Securities
Small business
Women in business

Summary:
action_date: 2009-09-22
text: 
Extends through October 31, 2009, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is currently authorized through September 30, 2009, under the Small Business Act or the Small Business Investment Act of 1958.
 
Amends the American Recovery and Reinvestment Act of 2009 with respect to the Business Stabilization Program (BSP) of Small Business Administration (SBA), which provides loans on a deferred basis to viable small business concerns that have a qualifying small business loan and are experiencing immediate financial hardship. Revises the BSP definition of qualifying small business loan to repeal the exclusion of SBA loan guarantees (or guarantee commitments) made before enactment of such Act. (Thus extends BSP coverage to small business concerns with an older, otherwise excluded SBA loan guarantee or guarantee commitment.)
 
Amends the Small Business Investment Act of 1958 to prohibit a New Markets Venture Capital (NMVC) company receiving an operational assistance grant from issuing SBA-guaranteed debentures for any one company in an aggregate amount greater than 10% of the sum of: (1) the private capital of the NMVC company; and (2) the total amount of leverage projected by the NMVC company in its business plan in effect on the date on which the Administrator granted it final approval to operate as an NMVC.
 

action_date: 2009-09-23
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Extends through October 31, 2009, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is currently authorized through September 30, 2009, under the Small Business Act or the Small Business Investment Act of 1958.
 
Amends the American Recovery and Reinvestment Act of 2009 with respect to the Business Stabilization Program (BSP) of Small Business Administration (SBA), which provides loans on a deferred basis to viable small business concerns that have a qualifying small business loan and are experiencing immediate financial hardship. Revises the BSP definition of qualifying small business loan to repeal the exclusion of SBA loan guarantees (or guarantee commitments) made before enactment of such Act. (Thus extends BSP coverage to small business concerns with an older, otherwise excluded SBA loan guarantee or guarantee commitment.)
 
Amends the Small Business Investment Act of 1958 to prohibit a New Markets Venture Capital (NMVC) company receiving an operational assistance grant from issuing SBA-guaranteed debentures for any one company in an aggregate amount greater than 10% of the sum of: (1) the private capital of the NMVC company; and (2) the total amount of leverage projected by the NMVC company in its business plan in effect on the date on which the Administrator granted it final approval to operate as an NMVC.
 

action_date: 2009-09-25
text: 
Extends through October 31, 2009, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is currently authorized through September 30, 2009, under the Small Business Act or the Small Business Investment Act of 1958.
 

 

action_date: 2009-09-30
text: 

(This measure has not been amended since it was passed by the Senate on September 25, 2009. The summary of that version is repeated here.)

 
Extends through October 31, 2009, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is currently authorized through September 30, 2009, under the Small Business Act or the Small Business Investment Act of 1958.
 

 


Legislative actions:
action_date: 2009-09-30
text: Became Public Law No: 111-66.
action_date: 2009-09-30
text: Became Public Law No: 111-66.
action_date: 2009-09-30
text: Signed by President.
action_date: 2009-09-30
text: Signed by President.
action_date: 2009-09-30
text: Presented to President.
action_date: 2009-09-30
text: Presented to President.
action_date: 2009-09-29
text: Cleared for White House.
action_date: 2009-09-29
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2009-09-29
text: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote. (consideration: CR H10021; text as House agreed to Senate amendment: CR H10021)
action_date: 2009-09-29
text: Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote.(consideration: CR H10021; text as House agreed to Senate amendment: CR H10021)
action_date: 2009-09-29
text: Ms. Velazquez moved that the House suspend the rules and agree to the Senate amendment.
action_date: 2009-09-29
text: Message on Senate action sent to the House.
action_date: 2009-09-25
text: Passed Senate with an amendment by Unanimous Consent. (text: CR S9890)
action_date: 2009-09-25
text: Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S9890)
action_date: 2009-09-25
text: Measure laid before Senate by unanimous consent. (consideration: CR S9890)
action_date: 2009-09-23
text: Received in the Senate, read twice.
action_date: 2009-09-23
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2009-09-23
text: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 417 - 2 (Roll no. 726). (text: CR H9819)
action_date: 2009-09-23
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 417 - 2 (Roll no. 726).(text: CR H9819)
action_date: 2009-09-23
text: Considered as unfinished business. (consideration: CR H9843-9844)
action_date: 2009-09-23
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2009-09-23
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 3614.
action_date: 2009-09-23
text: Considered under suspension of the rules. (consideration: CR H9819-9821)
action_date: 2009-09-23
text: Ms. Velazquez moved to suspend the rules and pass the bill.
action_date: 2009-09-22
text: Referred to the House Committee on Small Business.
action_date: 2009-09-22
text: Introduced in House
action_date: 2009-09-22
text: Introduced in House

Enacted as: number: 111-66