In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

Ex Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Enterprise Communities Enhancement 
Act of 2001''.

SEC. 2. FUNDING ENTITLEMENT FOR ADDITIONAL ENTERPRISE COMMUNITIES.

    (a) Entitlement.--Section 2007(a)(1) of the Social Security Act (42 
U.S.C. 1397f(a)(1)) is amended by striking ``and'' at the end of 
subparagraph (A), by striking the period at the end of subparagraph (B) 
and inserting ``; and'', and by adding at the end the following:
                    ``(C) 7 grants under this section for each 
                qualified enterprise community that is in the State and 
                is designated pursuant to section 766 of the 
                Agriculture, Rural Development, Food and Drug 
                Administration, and Related Agencies Appropriations 
                Act, 1999.''.
    (b) Amount of Grants.--Section 2007(a)(2) of such Act (42 U.S.C. 
1397f(a)(2)) is amended--
            (1) by redesignating subparagraph (C) as subparagraph (D); 
        and
            (2) by inserting after subparagraph (B) the following:
                    ``(C) Additional enterprise community grants.--The 
                amount of the grant to a State under this section for 
                each qualified enterprise community referred to in 
                paragraph (1)(C) shall be $500,000, multiplied by the 
                proportion of the population of the community that 
                resides in the State.''.
    (c) Timing of Grants.--Section 2007(a)(3) of such Act (42 U.S.C. 
1397f(a)(3)) is amended by adding at the end the following:
                    ``(C) Additional qualified enterprise 
                communities.--With respect to each qualified enterprise 
                community referred to in paragraph (1)(C), the 
                Secretary shall make 1 grant under this section to the 
                State in which the community lies on the first day of 
                fiscal year 2002 and of each of the 6 succeeding fiscal 
                years.''.
    (d) Funding.--Section 2007(a)(4) of such Act (42 U.S.C. 
1397f(a)(4)) is amended--
            (1) by striking ``(4) Funding.--$1,000,000,000'' and 
        inserting the following:
            ``(4) Funding.--
                    ``(A) Original grants.--$1,000,000,000'';
            (2) by inserting ``for empowerment zones and enterprise 
        communities described in subparagraphs (A) and (B) of paragraph 
        (1)'' before the period; and
            (3) by adding after and below the end the following:
                    ``(B) Additional enterprise community grants.--
                $70,000,000 shall be made available to the Secretary 
                for grants under this section for enterprise 
                communities referred to in paragraph (1)(C).''.
    (e) Definitions.--
            (1) Qualified enterprise community.--Section 2007(f)(2)(A) 
        of such Act (42 U.S.C. 1397f(f)(2)(A)) is amended by inserting 
        ``or pursuant to section 766 of the Agriculture, Rural 
        Development, Food and Drug Administration, and Related Agencies 
        Appropriations Act, 1999'' before the semicolon.
            (2) Strategic plan.--Section 2007(f)(3) of such Act (42 
        U.S.C. 1397f(f)(3)) is amended by inserting ``or under section 
        766 of the Agriculture, Rural Development, Food and Drug 
        Administration, and Related Agencies Appropriations Act, 1999'' 
        before the period.

SEC. 3. USE OF GRANT FUNDS.

    (a) Revolving Loan Activities.--Section 2007(b) of the Social 
Security Act (42 U.S.C. 1397f(b)) is amended by adding at the end the 
following:
            ``(5) Revolving loan activities.--
                    ``(A) In general.--In order to assist disadvantaged 
                adults and youths in achieving and maintaining economic 
                self-support, a State may use amounts paid under this 
                section to fund revolving loan funds or similar 
                arrangements for the purpose of making loans to 
                residents, institutions, organizations, or businesses 
                that hire disadvantaged adults and youths.
                    ``(B) Rules for disbursement.--Amounts to be used 
                as described in subparagraph (A) shall be disbursed by 
                the Secretary, consistent with the provisions of the 
                Cash Management Improvement Act and its implementing 
                rules, regulations, and procedures issued by the 
                Secretary of the Treasury--
                            ``(i) in the case of a grant to a revolving 
                        loan fund--
                                    ``(I) pursuant to a written 
                                irrevocable grant commitment; and
                                    ``(II) at such time or times as the 
                                Secretary determines that the funds are 
                                needed to meet the purposes of such 
                                commitment; or
                            ``(ii) in the case of a grant for purposes 
                        of capitalizing an insured depository 
                        institution (as defined in section 3 of the 
                        Federal Deposit Insurance Act (12 U.S.C. 1813)) 
                        or an insured credit union (as defined in 
                        section 101 of the Federal Credit Union Act (12 
                        U.S.C. 1742)), at such time or times as the 
                        Secretary determines that funds are needed for 
                        such capitalization.''.

Ex Output:
Enterprise Communities Enhancement Act of 2001 - Amends title XX (Block Grants to States for Social Services) of the Social Security Act to provide for: (1) additional State entitlements to grants for designated qualified enterprise communities; (2) funding for such grants; and (3) use of grant funds for revolving loan fund loans to residents, institutions, organizations, or businesses that hire disadvantaged adults and youths.


Ex Input:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Educational Empowerment Act''.

SEC. 2. DESIGNATION OF EDUCATIONAL EMPOWERMENT ZONES.

    (a) In General.--Chapter 1 of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new subchapter:

             ``Subchapter X--Educational Empowerment Zones

        ``Sec. 1400E. Designation of educational empowerment zones.

``SEC. 1400E. DESIGNATION OF EDUCATIONAL EMPOWERMENT ZONES.

    ``(a) Designation.--
            ``(1) Educational empowerment zone.--For purposes of this 
        title, the term `educational empowerment zone' means any area--
                    ``(A) which is nominated by one or more local 
                governments and the State or States in which it is 
                located for designation as an educational empowerment 
                zone (hereinafter in this section referred to as a 
                `nominated area'), and
                    ``(B) which the Secretary of Health and Human 
                Services and the Secretary of Education (hereinafter in 
                this section referred to as the `Secretaries 
                concerned') jointly designate as an educational 
                empowerment zone.
            ``(2) Number of designations.--The Secretaries concerned 
        may designate not more than 30 nominated areas as educational 
        empowerment zones.
            ``(3) Areas designated based on degree of poverty, etc.--
        Except as otherwise provided in this section, the nominated 
        areas designated as educational empowerment zones under this 
        subsection shall be those nominated areas with the highest 
        average ranking with respect to the criteria described in 
        subsection (c)(3). For purposes of the preceding sentence, an 
        area shall be ranked within each such criterion on the basis of 
        the amount by which the area exceeds such criterion, with the 
        area which exceeds such criterion by the greatest amount given 
        the highest ranking.
            ``(4) Limitation on designations.--
                    ``(A) Publication of regulations.--The Secretaries 
                concerned shall prescribe by regulation no later than 4 
                months after the date of the enactment of this 
                section--
                            ``(i) the procedures for nominating an area 
                        under paragraph (1)(A).
                            ``(ii) the parameters relating to the size 
                        and population characteristics of an 
                        educational empowerment zone, and
                            ``(iii) the manner in which nominated areas 
                        will be evaluated based on the criteria 
                        specified in subsection (c).
                    ``(B) Time limitations.--The Secretaries concerned 
                may designate nominated areas as educational 
                empowerment zones only during the 24-month period 
                beginning on the first day of the first month following 
                the month in which the regulations described in 
                subparagraph (A) are prescribed.
                    ``(C) Procedural rules.--The Secretaries concerned 
                shall not make any designation of a nominated area as 
                an educational empowerment zone under paragraph (2) 
                unless--
                            ``(i) a nomination regarding such area is 
                        submitted in such a manner and in such form, 
                        and contains such information, as the 
                        Secretaries concerned shall by regulation 
                        prescribe, and
                            ``(ii) the Secretaries concerned determine 
                        that any information furnished is reasonably 
                        accurate.
            ``(5) Nomination process for indian reservations.--For 
        purposes of this subchapter, in the case of a nominated area on 
        an Indian reservation, the reservation governing body (as 
        determined by the Secretary of the Interior) shall be treated 
        as being both the State and local governments with respect to 
        such area.
    ``(b) Period for Which Designation is in Effect.--Any designation 
of an area as an educational empowerment zone shall remain in effect 
during the period beginning on the date of the designation and ending 
on the earliest of--
            ``(1) December 31, 2007,
            ``(2) the termination date designated by the State and 
        local governments in their nomination, or
            ``(3) the date the Secretaries concerned revoke such 
        designation.
    ``(c) Area and Eligibility Requirements.--
            ``(1) In general.--The Secretary of Commerce may designate 
        a nominated area as an educational empowerment zone under 
        subsection (a) only if the area meets the requirements of 
        paragraphs (2) and (3) of this subsection.
            ``(2) Area requirements.--For purposes of paragraph (1), a 
        nominated area meets the requirements of this paragraph if--
                    ``(A) the area is within the jurisdiction of one or 
                more local governments,
                    ``(B) the boundary of the area is continuous, and
                    ``(C) the area does not include an empowerment zone 
                (as defined in section 1393(b)) other than such a zone 
                designated under section 1391(g).
            ``(3) Eligibility requirements.--For purposes of paragraph 
        (1), a nominated area meets the requirements of this paragraph 
        if the State and the local governments in which it is located 
        certify that the nominated area satisfies such conditions as 
        the Secretary of Education deems appropriate.
            ``(4) Consideration of dropout rate, etc.--The Secretary of 
        Education, in setting forth the conditions for eligibility 
        pursuant to paragraph (3), shall take into account the extent 
        to which an area has low-income families, a high dropout rate, 
        a high rate of teen pregnancy, and large school class size.
    ``(d) Coordination With Treatment of Enterprise Communities.--For 
purposes of this title, if there are in effect with respect to the same 
area both--
            ``(1) a designation as an educational empowerment zone, and
            ``(2) a designation as an enterprise community,
both of such designations shall be given full effect with respect to 
such area.
    ``(e) Definitions and Special Rules.--For purposes of this 
subchapter, rules similar to the rules of paragraphs (2), (3), (5), and 
(7) of section 1393 shall apply.''.
    (b) Clerical Amendment.--The table of subchapters for chapter 1 is 
amended by adding at the end the following new item:

                              ``Subchapter X. Educational Empowerment 
                                        Zones.''.

SEC. 3. CREDIT FOR DONATIONS TO SCHOOL DISTRICTS IN EDUCATIONAL 
              EMPOWERMENT ZONES.

    (a) In General.--Subpart B of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by inserting after 
section 30A the following new section

``SEC. 30B. CONTRIBUTIONS TO SCHOOL DISTRICTS IN EDUCATIONAL 
              EMPOWERMENT ZONES.

    ``(a) Allowance of Credit.--There shall be allowed as a credit 
against the tax imposed by this chapter for the taxable year an amount 
equal to the amount of qualified educational empowerment zone 
contributions made by the taxpayer during such year.
    ``(b) Maximum Credit.--The amount of the credit allowed by 
subsection (a)--
            ``(1) in the case of an individual, shall not exceed 
        $2,000, and
            ``(2) in the case of any other taxpayer, shall not exceed 
        $10,000.
    ``(c) Definition of Qualified Educational Empowerment Zone 
Contributions.--For purposes of this section, the term `qualified 
educational empowerment zone contributions' means cash contributions 
made to any school district located in an educational empowerment zone 
(as designated under section 1400E) if such contributions--
            ``(1) but for subsection (d), would be allowable as a 
        deduction under section 170, and
            ``(2) are used for any of the following purposes by the 
        school district:
                    ``(A) Hiring new teachers.
                    ``(B) Increasing teacher salaries.
                    ``(C) Training teachers.
    ``(d) Denial of Double Benefit.--No deduction shall be allowed 
under this chapter for any contribution taken into account in computing 
the credit under this section.
    ``(e) Election.--This section shall apply to any taxpayer for any 
taxable year only if such taxpayer elects (at such time and in such 
manner as the Secretary may by regulations prescribe) to have this 
section apply for such taxable year.
    ``(f) Application With Other Credits; Carryover of Excess Credit.--
The credit allowed by subsection (a) for any taxable year shall not 
exceed the excess (if any) of--
            ``(1) the regular tax for the taxable year reduced by the 
        sum of the credits allowable under subpart A and the preceding 
        sections of this subpart, over
            ``(2) the tentative minimum tax for the taxable year.
If the credit under subsection (a) exceeds the limitation of the 
preceding sentence, such excess shall be added to the credit allowable 
under subsection (a) for the succeeding taxable year.''.
    (b) Clerical Amendment.--The table of sections for subpart B of 
part IV of subchapter A of chapter 1 of such Code is amended by 
inserting after the item relating to section 30A the following new 
item:

        ``Sec. 30B. Contributions to school districts in educational 
                            empowerment zones.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2003.

SEC. 4. TEACHER LOAN FORGIVENESS PROGRAM.

    Part B of title IV of the Higher Education Act of 1965 is amended 
by inserting after section 428K (20 U.S.C. 1078-11) the following new 
section:

``SEC. 428L. LOAN FORGIVENESS FOR MATHEMATICS AND SCIENCE TEACHERS.

    ``(a) Purpose.--It is the purpose of this section to encourage more 
individuals to enter and stay in the field of teaching mathematics, 
science, and related fields.
    ``(b) Program.--
            ``(1) In general.--The Secretary shall carry out a program 
        of assuming the obligation to repay, pursuant to subsection 
        (c), a loan made, insured, or guaranteed under this part or 
        part D (excluding loans made under sections 428B and 428C or 
        comparable loans made under Part D) for any new borrower after 
October 12, 1998, who--
                    ``(A) has been employed as a full-time teacher for 
                3 consecutive complete school years in a school that is 
                located in an educational empowerment zone, as such 
                term is defined in section 1400E of the Internal 
                Revenue Code of 1986;
                    ``(B) is a fully qualified teacher; and
                    ``C) is not in default on a loan for which the 
                borrower seeks forgiveness.
            ``(2) Award basis; priority.--
                    ``(A) Award basis.--Subject to subparagraph (B), 
                loan repayment under this section shall be on a first-
                come, first-served basis and subject to the 
                availability of appropriations.
                    ``(B) Priority.--The Secretary shall give priority 
                in providing loan repayment under this section for a 
                fiscal year to student borrowers who received loan 
                repayment under this section for the preceding fiscal 
                year.
            ``(3) Regulations.--The Secretary is authorized to 
        prescribe such regulations as may be necessary to carry out the 
        provisions of this section.
    ``(c) Loan Repayment.--
            ``(1) Eligible amount.--The amount the Secretary may repay 
        on behalf of any individual under this section shall not 
        exceed--
                    ``(A) 80 percent of the sum of the principal 
                amounts outstanding of the individual's qualifying 
                loans at the end of 3 consecutive complete school years 
                of service described in subsection (b)(1)(A);
                    ``(B) an additional 10 percent of such sum at the 
                end of each of the next 2 consecutive complete school 
                years of such service; and
                    ``(C) a total of more than $10,000.
            ``(2) Construction.--Nothing in this section shall be 
        construed to authorize the refunding of any repayment of a loan 
        made under this part or part D.
            ``(3) Interest.--If a portion of a loan is repaid by the 
        Secretary under this section for any year, the proportionate 
        amount of interest on such loan which accrues for such year 
        shall be repaid by the Secretary.
            ``(4) Double benefits prohibited.--No borrower may, for the 
        same service, receive a benefit under both this section and 
        subtitle D of title I of the National and Community Service Act 
        of 1990 (42 U.S.C. 12601 et seq.). No borrower may receive a 
        reduction of loan obligations under both this section and 
        section 428J or 460.
    ``(d) Repayment to Eligible Lenders.--The Secretary shall pay to 
each eligible lender or holder for each fiscal year an amount equal to 
the aggregate amount of loans which are subject to repayment pursuant 
to this section for such year.
    ``(e) Application for Repayment.--
            ``(1) In general.--Each eligible individual desiring loan 
        repayment under this section shall submit a complete and 
        accurate application to the Secretary at such time, in such 
        manner, and containing such information as the Secretary may 
        require.
            ``(2) Conditions.--An eligible individual may apply for 
        loan repayment under this section after completing the required 
        number of years of qualifying employment.
            ``(3) Fully qualified teachers.--An application for loan 
        repayment under this section shall include such information as 
        is necessary to demonstrate that the applicant--
                    ``(A) if teaching in a public elementary or 
                secondary school (other than as a teacher in a public 
                charter school), has obtained State certification as a 
                teacher (including certification obtained through 
                alternative routes to certification) or passed the 
                State teacher licensing exam and holds a license to 
                teach in such State; and
                    ``(B) if teaching in--
                            ``(i) an elementary school, holds a 
                        bachelor's degree and demonstrates knowledge 
                        and teaching skills in reading, writing, 
                        mathematics, science, and other areas of the 
                        elementary school curriculum; or
                            ``(ii) a middle or secondary school, holds 
                        a bachelor's degree and demonstrates a high 
                        level of competency in all subject areas in 
                        which he or she teaches through--
                                    ``(I) a high level of performance 
                                on a rigorous State or local academic 
                                subject areas test; or
                                    ``(II) completion of an academic 
                                major in each of the subject areas in 
                                which he or she provides instruction.
    ``(f) Evaluation.--
            ``(1) In general.--The Secretary shall conduct, by grant or 
        contract, an independent national evaluation of the impact of 
        the program assisted under this section.
            ``(2) Competitive basis.--The grant or contract described 
        in subsection (b) shall be awarded on a competitive basis.
            ``(3) Contents.--The evaluation described in this 
        subsection shall--
                    ``(A) determine the number of individuals who were 
                encouraged by the program assisted under this section 
                to pursue teaching careers;
                    ``(B) determine the number of individuals who 
                remain employed in teaching mathematics, science, or 
                related fields as a result of participation in the 
                program;
                    ``(C) identify the barriers to the effectiveness of 
                the program;
                    ``(D) assess the cost-effectiveness of the program; 
                and
                    ``(E) identify the number of years each individual 
                participates in the program.
            ``(4) Interim and final evaluation reports.--The Secretary 
        shall prepare and submit to the President and the Congress such 
        interim reports regarding the evaluation described in this 
        subsection as the Secretary deems appropriate, and shall 
        prepare and so submit a final report regarding the evaluation 
        by January 1, 2006''.

Ex Output:
Educational Empowerment Act - Amends the Internal Revenue Code to allow a tax credit for qualified educational empowerment zone contributions. Allows the designation of up to 30 such zones. Bases designations on the degree of poverty.Establishes a teacher loan forgiveness program for mathematics and science teachers.


Ex Input:
That this Act may be 
cited as the ``Small Business Administration Amendments of 1994''.

                                TITLE I

    Sec. 101. Section 7(m)(1)(B) of the Small Business Act is amended 
by adding the words ``, a lender or alliance of lenders'' after the 
word ``Administration'', and by adding after the word 
``intermediaries'' in clause (i) thereof the following phrase ``: 
Provided, however, That the Administration may make in its sole 
discretion up to 100 percent deferred participation loans to ten 
intermediaries which will be located in urban areas and ten 
intermediaries which will be located in rural areas,''.
    Sec. 102. Section 7(m)(7) of the Small Business Act is amended by 
deleting the number ``50'' from subparagraph (B) thereof, and replacing 
it with the number ``140'', and by deleting the period at the end 
thereof and adding the phrase : ``Provided, That no more than 200 total 
microloan programs may be funded'', and by deleting subparagraph (C) 
thereof and inserting in lieu thereof: ``(C) In no case shall a State 
receive more than $5,000,000 to fund all microloan programs conducted 
in that State.''.
    Sec. 103. Section 7(m)(3)(C) of the Small Business Act is amended 
by replacing the number ``$1,250,000'' with the number ``$1,750,000''.
    Sec. 104. Section 7(m)(3)(F) of the Small Business Act is amended 
by adding after the phrase ``10 years'' in clause (i) the following: 
``with the first 5 years of any deferred participation loan being a 
revolving line of credit on which only monthly payments of interest 
will be required and the balance amortized over the second 5 year 
period, with equal monthly payments of principal and interest''; and by 
revising clause (ii) to read as follows: ``(ii) Applicable interest 
rates.--Exception as provided in clause (iii), loans made by the 
Administration under this subsection to an intermediary shall bear an 
interest rate equal to the rate of interest on comparable 5 year 
obligations of the United States Treasury.

                                TITLE II

    Sec. 201. Section 7(a)(2)(B)(iv) of the Small Business Act is 
amended to read as follows:
            ``. . . (iv) not more than 90 percent of the financing 
        outstanding at the time of disbursement if such financing is an 
        extension or a revolving line of credit made under paragraph 
        (14) and not less than 90 percent of the financing outstanding 
        at the time of disbursement if such financing is a loan under 
        paragraph (16).''.
    Sec. 202. Section 7(a)(14) of the Small Business Act is amended to 
read as follows:
            ``(14) (A) The Administration under this subsection may 
        provide extensions, specifically including guarantees of 
        standby letters of credit and revolving lines of credit for 
        export purposes, and financing to enable small business 
        concerns, including small business export trading companies and 
        small business export management companies, to develop foreign 
        markets. A bank or participating lending institution may 
        establish such rate of interest on extensions, revolving lines 
        of credit and financing made under this paragraph as may be 
        legal and reasonable.''.
    Sec. 203. Section 7(a)(3)(B) of the Small Business Act is amended 
to read as follows:
            ``. . . if the total amount outstanding and committed (on a 
        deferred basis) solely for the purposes provided in paragraph 
        (16) to the borrower from the Business Guaranteed Loan 
        Financing Account established by this Act would exceed 
        $1,000,000 such amount to be in addition to any financing 
        solely for working capital, supplies, or revolving lines of 
        credit for export purposes up to a maximum of $750,000: 
        Provided, however, That in no event may the aggregate amount 
        outstanding and committed by the Administration under this 
        subsection exceed $1,250,000 . . .''.

                               TITLE III

    Sec. 301. Sections 8(b)(2), (3) and (4) of the Small Business Act 
are amended by inserting the words ``and other'' after the word 
``small'' wherever it appears.

                                TITLE IV

    Sec. 401. Section 28(2)(g) of the Small Business Act is deleted and 
in its place the following is substituted:
            ``(g) There is established within the Administration an 
        Office of Women's Business Ownership which shall be responsible 
        for the administration under the supervision by the 
        Administration of all authority conferred by this section. Such 
        office shall be headed by a director who shall be appointed by 
        the Administrator.''.

                                TITLE V

    Sec. 501. Section 8(b)(1)(A) of the Small Business Act is amended 
by adding at the end thereof the following sentence: ``Notwithstanding 
any other provision of law, the authority provided by this subparagraph 
shall remain available until expressly repealed.''.
    Sec. 502. Section 411(a)(3) of the Small Business Investment Act of 
1958 is amended by adding the following sentence at the end thereof: 
``Notwithstanding any other provision of law, the authority granted by 
this paragraph shall remain available until expressly repealed.''.
    Sec. 503. Section 5(b)(8) of the Small Business Act is amended by 
deleting the words ``not in excess of six months''.
    Sec. 504. The second sentence of section 732 of Public Law 100-656 
is repealed.
    Sec. 505. Section 4(c) of the Small Business Act is amended to read 
as follows:
    ``(c) (1) There is hereby established in the Treasury one Loan 
Liquidation Fund. All repayment of loans and debentures, payments of 
interest, and other receipts arising out of transactions entered into 
by the Administration pursuant to sections 5(e), 5(g), 7(a), 7(b), 
7(c)(2), 7(e), 7(h), 7(l), 7(m), and 8(a) of this Act, and titles III, 
IV, and V of the Small Business Investment Act of 1958, prior to 
October 1, 1991, shall be paid into such Loan Fund Liquidating Account. 
Balances existing in those revolving funds, as in effect immediately 
prior to the effective date of this paragraph, shall be transferred 
into such Loan Liquidation Fund. This Loan Liquidation Fund shall have 
available, without fiscal year limitation, such funds as are necessary 
to finance its operational needs.
    (2) The Administration shall submit to the Committees on Small 
Business and Appropriations of the Senate and the House of 
Representatives, as soon as possible after the beginning of each fiscal 
year, a full and complete report on the status of the Loan Liquidation 
Fund established pursuant to paragraph (1).''.
    Sec. 506. Section 4(c)(5)(B)(ii) of the Small Business Act is 
amended to read as follows:
            ``(ii) The Administration shall pay into the miscellaneous 
        receipts of the Treasury following the close of each fiscal 
        year, the actual interest it collects during that fiscal year 
        on all financings made under the authority of this Act.''.
    Sec. 507. Section 3(a)(2) of the Small Business Act is amended to 
read as follows:
            ``. . . (2) In addition to the criteria specified in 
        paragraph (1), the Administrator may specify detailed 
        definitions or standards for example, by number of employees or 
        dollar volume of business, by which a business concern is to be 
        recognized as a small business concern for the purposes of this 
        Act or any other Act. Unless specifically authorized by 
        statute, the Secretary of a department or the head of a Federal 
        agency, other than the Administrator of the Small Business 
        Administration, may not prescribe for the use of such 
        department or agency a size standard for categorizing a 
        business concern as a small business concern, unless such 
        proposed size standard--
                    ``(A) is being proposed after an opportunity for 
                public notice and comment;
                    ``(B) provides for determining, over a period of 
                not less than 3 years--
                            ``(i) the size of a manufacturing concern 
                        as measured by its average employment based 
                        upon employment during each of the concern's 
                        pay periods for the preceding completed twelve 
                        calendar months; or
                            ``(ii) the size of a concern providing 
                        services on basis of the annual average gross 
                        receipts of the concern over a period of not 
                        less than 3 years; and
                    ``(C) is approved by the Administrator.
            ``(3) When establishing or approving any size standard 
        pursuant to paragraph (2), the Administrator shall consider 
        variations in economic activity from industry to industry 
        unless the Administrator determines that size standards should 
        not vary in order to meet program needs.''.
    Sec. 508. Section 5(b) of the Small Business Act is amended by 
deleting the word ``and'' at the end of paragraph (10) thereof, by 
removing the ``.'' at the end of paragraph (11) thereof and replacing 
it with ``, and'' and (b) adding a new paragraph (12) which reads as 
follows:
            ``. . . (12) to impose reasonable fees to be charged in 
        connection with applications for assistance, and the provision 
        of assistance under this Act and the Small Business Investment 
        Act of 1958 and to retain such fees to offset the costs of 
        administration of such assistance.''.
    Sec. 509. Section 8(b) of the Small Business Act is amended by 
deleting the word ``and'' at the end of paragraph (15), by striking the 
period at the end of paragraph 8(b)(16) and replacing it with ``; 
and'', and by adding a new paragraph 8(b)(17) which reads as follows:
            ``. . . (17) to charge and collect such fees as may be 
        necessary to cover all costs associated with the production and 
        dissemination of compilations of information produced by the 
        Administration under the authority of the Small Business Act 
        and the Small Business Investment Act of 1958, and to retain 
        such fees and utilize such fees to offset the costs of 
        production and dissemination of such compilations of 
        information.''.

                                TITLE VI

    Sec. 601. Sections 20(k) through 20(p) of the Small Business Act 
are repealed and the following is substituted in their place:
    ``(k) The following program levels are authorized for fiscal year 
1995:
            ``(1) For the programs authorized by this Act, the 
        Administration is authorized to make $13,910,000,000 in 
        deferred participation loans and other financings; and of such 
        sum, the Administration is authorized to make $11,500,000,000 
        in general business loans as provided in section 7(a), 
        $110,000,000 in loans as provided in section 7(m), and 
        $2,300,000,000 in financings as provided in section 7(a)(13) 
        and section 504 of the Small Business Investment Act of 1958.
            ``(2) For the programs authorized by title III of the Small 
        Business Investment Act of 1958, the Administration is 
        authorized to make $23,000,000 in purchases of preferred stock, 
        $275,000,000 in guarantees of debentures of which $65,000,000 
        is authorized for guarantees of debentures of companies 
        operating pursuant to section 301(d) of such Act, and 
        $550,000,000 in guarantees of participating securities.
            ``(3) For the programs authorized by part B of title IV of 
        the Small Business Investment Act of 1958, the Administration 
        is authorized to enter into guarantees not to exceed 
        $2,000,000,000.
    ``(l) There are authorized to be appropriated to the Administration 
for fiscal year 1995 such sums as may be necessary to carry out 
subsection (k), including salaries and expenses of the Administration.
    ``(m) The following program levels are authorized for fiscal year 
1996:
            ``(1) For the programs authorized by this Act, the 
        Administration is authorized to make $17,475,000,000 in 
        deferred participation loans and other financings; and of such 
        sum, the Administration is authorized to make $13,500,000,000 
        in general business loans as provided in section 7(a), 
        $175,000,000 in loans as provided in section 7(m), and 
        $3,800,000,000 in financings as provided in section 7(a)(13) 
        and section 504 of the Small Business Investment Act of 1958.
            ``(2) For the programs authorized by title III of the Small 
        Business Investment Act of 1958, the Administration is 
        authorized to make $24,000,000 in purchases of preferred stock, 
        $320,000,000 in guarantees of debentures of which $70,000,000 
        is authorized for guarantees of debentures of companies 
        operating pursuant to section 301(d) of such Act, and 
        $1,100,000,000 in guarantees of participating securities.
            ``(3) For the programs authorized by part B of title IV of 
        the Small Business Investment Act of 1958, the Administration 
        is authorized to enter into guarantees not to exceed 
        $2,000,000,000.
    ``(n) There are authorized to be appropriated to the Administration 
for fiscal year 1996, such sums as may be necessary to carry out 
subsection (m), including salaries and expenses of the Administration.
    ``(o) The following program levels are authorized for fiscal year 
1997:
            ``(1) For the programs authorized by this Act, the 
        Administration is authorized to make $21,450,000,000 in 
        deferred participation loans and other financings; and of such 
        sum, the Administration is authorized to make $15,500,000,000 
        in general business loans as provided in section 7(a), 
        $250,000,000 in loans as provided in section 7(m), and 
        $5,700,000,000 in financings as provided in section 7(a)(13) 
        and section 504 of the Small Business Investment Act of 1958.
            ``(2) For the programs authorized by title III of the Small 
        Business Investment Act of 1958, the Administration is 
        authorized to make $25,000,000 in purchases of deferred stock, 
        $385,000,000 in guarantees of debentures of which $75,500,000 
        is authorized for guarantees of debentures of companies 
        operating pursuant to section 301(d) of such Act, and 
        $1,700,000,000 in guarantees of participating securities.
            ``(3) For the programs authorized by part B of title IV of 
        the Small Business Investment Act of 1958, the Administration 
        is authorized to enter into guarantees not to exceed 
        $2,000,000,000.
    ``(p) There are authorized to be appropriated to the Administration 
for fiscal year 1997, such sums as may be necessary to carry out 
subsection (o), including salaries and expenses of the 
Administration.''.

Ex Output:

Small Business Administration Amendments of 1994 - 
Title I:
 Amends the Small Business Act (the Act) to:  (1) allow the Administrator of the Small Business Administration (SBA), under the microloan demonstration program, to make up to 100 percent deferred participation loans to ten small business intermediaries located in urban areas and ten intermediaries located in rural areas; (2) revise the authorized number of microloan programs for fiscal years after 1992; (3) increase from $1.5 to $5 million the annual microloan limits to a State; (4) increase from $1.25 to $1.75 million the total outstanding loan limit authorized for each intermediary; and (5) revise microloan repayment requirements. 
Title II:
  Revises provisions concerning the participatory amount of the SBA in small business loans provided on a deferred basis. Increases from $250,000 to $750,000 the authorized outstanding loan amounts for small businesses engaged in or adversely affected by international trade. 
Title III:
  Allows the SBA Administrator to inventory the productive facilities and capacities of business (currently, only small businesses) as part of a business loan process. 
Title IV:
  Establishes within the SBA an Office of Women's Business Ownership to administer the women's demonstration projects (projects providing financial assistance to businesses owned and controlled by women) created under the Act. 
Title V:
  Amends the Act and the Small Business Investment Act to provide that the authority of the SBA to make loans under such Acts shall remain available until expressly repealed. 
(Sec. 503) Removes a six-month limitation on the payment of transportation expenses of SBA employees in connection with any disaster loan assistance. 
(Sec. 505) Establishes in the Treasury one Loan Liquidation Fund, replacing various revolving funds, a disaster loan fund, and a business and investment loan fund under the Act.  Provides for repayment of all such loans to the Fund.  Requires a report from the SBA Administrator to specified congressional committees concerning Fund activities. 
(Sec. 507) Authorizes the SBA Administrator to specify detailed definitions or standards by which a business shall be recognized as a small business for purposes of the Act, with certain requirements such as an opportunity for public hearing. 
(Sec. 508) Empowers the SBA Administrator to impose reasonable fees in connection with assistance provided and information compiled and disseminated under the Act and the Small Business Investment Act. 
Title VI:
  Authorizes specified program funding levels for FY 1995 through 1997 for loans and other programs, as well as salaries and expenses, as provided or required under the Act and the Small Business Investment Act.