Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section662&num=0&edition=prelim
Timestamp: 2020-01-25 11:03:23
Document Index: 614303100

Matched Legal Cases: ['§ 662', '§103', '§3', '§2', '§2', '§106', '§410', '§208', '§213', '§2', '§1', '§402', '§1205', '§2', '§2', '§631', '§1001', '§1', '§402', '§2', '§2', '§208', '§2']

[USC02] 15 USC 662: Definitions
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15 USC 662: Definitions Text contains those laws in effect on January 24, 2020
(5) the term "small-business concern" shall have the same meaning as in the Small Business Act [15 U.S.C. 631 et seq.], except that, for purposes of this chapter-
(A) an investment by a venture capital firm, investment company (including a small business investment company) employee welfare benefit plan or pension plan, or trust, foundation, or endowment that is exempt from Federal income taxation-
(B) in determining whether a business concern satisfies net income standards established pursuant to section 3(a)(2) of the Small Business Act [15 U.S.C. 632(a)(2)], if the business concern is not required by law to pay Federal income taxes at the enterprise level, but is required to pass income through to the shareholders, partners, beneficiaries, or other equitable owners of the business concern, the net income of the business concern shall be determined by allowing a deduction in an amount equal to the sum of-
(9) the term "private capital"-
(A) means the sum of-
(iii) funds obtained directly or indirectly from any Federal, State, or local government, or any government agency or instrumentality, except for-
(10) the term "leverage" includes-
(12) the term "smaller enterprise" means any small business concern that, together with its affiliates-
(ii) an average net income for the 2-year period preceding the date on which assistance is provided under this chapter to that business concern, of not more than $2,000,000, after Federal income taxes (excluding any carryover losses) except that, for purposes of this clause, if the business concern is not required by law to pay Federal income taxes at the enterprise level, but is required to pass income through to the shareholders, partners, beneficiaries, or other equitable owners of the business concern, the net income of the business concern shall be determined by allowing a deduction in an amount equal to the sum of-
(13) the term "qualified nonprivate funds" means any-
(14) the terms "employee welfare benefit plan" and "pension plan" have the same meanings as in section 3 of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1002], and are intended to include-
(18) the term "Energy Saving debenture" means a deferred interest debenture that-
( Pub. L. 85–699, title I, §103, Aug. 21, 1958, 72 Stat. 690 ; Pub. L. 86–502, §3, June 11, 1960, 74 Stat. 196 ; Pub. L. 87–341, §2, Oct. 3, 1961, 75 Stat. 752 ; Pub. L. 92–595, §2(a), Oct. 27, 1972, 86 Stat. 1314 ; Pub. L. 94–305, title I, §106(a), June 4, 1976, 90 Stat. 666 ; Pub. L. 102–366, title IV, §410, Sept. 4, 1992, 106 Stat. 1017 ; Pub. L. 104–208, div. D, title II, §208(a), Sept. 30, 1996, 110 Stat. 3009–739 ; Pub. L. 105–135, title II, §213, Dec. 2, 1997, 111 Stat. 2601 ; Pub. L. 106–9, §2(c), Apr. 5, 1999, 113 Stat. 17 ; Pub. L. 106–554, §1(a)(9) [title IV, §402], Dec. 21, 2000, 114 Stat. 2763 , 2763A-690; Pub. L. 110–140, title XII, §1205(b), Dec. 19, 2007, 121 Stat. 1773 ; Pub. L. 115–333, §2(1), Dec. 19, 2018, 132 Stat. 4488 .)
The Small Business Act, referred to in par. (5), is Pub. L. 85–536, §2(1 et seq.), July 18, 1958, 72 Stat. 384 , which is classified to chapter 14A (§631 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 631 of this title and Tables. The term "small-business concern" is defined in section 632 of this title.
The Employee Retirement Income Security Act of 1974, referred to in par. (14), is Pub. L. 93–406, Sept. 2, 1974, 88 Stat. 829 , which is classified principally to chapter 18 (§1001 et seq.) of Title 29, Labor. For complete classification of this Act to the Code, see Short Title note set out under section 1001 of Title 29 and Tables.
2018-Par. (20). Pub. L. 115–333 added par. (20).
2007-Pars. (18), (19). Pub. L. 110–140 added pars. (18) and (19).
2000-Par. (5)(A)(i). Pub. L. 106–554, §1(a)(9) [title IV, §402(a)], inserted before semicolon at end "regardless of the allocation of control during the investment period under any investment agreement between the business concern and the entity making the investment".
1999-Par. (5). Pub. L. 106–9, §2(c)(1), designated existing provisions after "for purposes of this chapter" as subpar. (A), redesignated former subpars. (A) to (C) as cls. (i) to (iii), respectively, and added subpar. (B).
Par. (12)(A)(ii). Pub. L. 106–9, §2(c)(2), inserted before "; or": "except that, for purposes of this clause, if the business concern is not required by law to pay Federal income taxes at the enterprise level, but is required to pass income through to the shareholders, partners, beneficiaries, or other equitable owners of the business concern, the net income of the business concern shall be determined by allowing a deduction in an amount equal to the sum of-
1997-Par. (9)(B)(iii). Pub. L. 105–135 added subcl. (I) and redesignated former subcls. (I) and (II) as (II) and (III), respectively.
1996-Par. (5). Pub. L. 104–208, §208(a)(1), inserted before semicolon at end ", except that, for purposes of this chapter, an investment by a venture capital firm, investment company (including a small business investment company) employee welfare benefit plan or pension plan, or trust, foundation, or endowment that is exempt from Federal income taxation-
1992-Pars. (9), (10). Pub. L. 102–366 added pars. (9) and (10).
1976-Par. (8). Pub. L. 94–305 added par. (8).
1972-Par. (3). Pub. L. 92–595 substituted "section 681" for "section 681(c)".
1961-Par. (3). Pub. L. 87–341, §2(1), inserted "licensee" and substituted "company approved by the Administration to operate under the provisions of this chapter and issued a license as provided in section 681(c) of this title" for "small business investment company organized as provided in subchapter III of this chapter, including (except for purposes of sections 681 and 687(f) of this title) a State-chartered investment company which has obtained the approval of the Administrator to operate under the provisions of this chapter as provided in section 688 of this title and a company converted into a small business investment company under section 691 of this title".
1960-Par. (4). Pub. L. 86–502 substituted definition of "State" for definition of "United States".