TASK DEFINITION: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
PROBLEM: SECTION 1. SHORT TITLE.

This Act may be cited as ''State Business Law Conformity Act of
2004''.

SEC. 2. REFERENCES TO GENERAL PARTNERS.

(a) Exclusion of Certain Active Businesses From at Risk Rules.--
Subclause (I) of section 465(c)(7)(D)(ii) of the Internal Revenue Code
of 1986 (defining qualified corporate partner) is amended to read as
follows:
''(I) such corporation is not
prohibited or limited under State law
from participation in the management or
business of the partnership.''.
(b) Payments to Retiring Partners.--Subparagraph (B) of section
736(b)(3) of such Code (relating to limitation on application of
paragraph (2)) is amended to read as follows:
''(B) any portion of the retiring or deceased
partner's distributive share of partnership income was
subject to tax under section 1401.''.
(c) Foreign Currency Transactions.--Subclause (I) of section
988(c)(1)(E)(v) of such Code is amended to read as follows:
''(I) Certain general partners.--
The interest of a partner in the
partnership shall not be treated as
failing to meet the 20-percent
ownership requirements of clause
(iii)(I) for any taxable year of the
partnership if for the taxable year of
the partner in which such partnership
taxable year ends--
''(aa) the partner is not
limited as to participation in
the management or activity of
the qualified fund, and
''(bb) such partner (and
each corporation filing a
consolidated return with such
partner) had no ordinary income
or loss from a section 988
transaction which is foreign
currency gain or loss (as the
case may be).''.
(d) Special Valuation Rules for Generation-Skipping Tax.--Clause
(ii) of section 2701(b)(2)(B) of such Code (relating to partnerships)
is amended to read as follows:
''(ii) in the case of a limited
partnership, the holding of any interest as a
partner who is not limited as to participation
in management or activity of the
partnership.''.
(e) Tax Matters Partner.--Paragraph (7) of section 6231(a) of such
Code (defining tax matters partner) is amended to read as follows:
''(7) Tax matters partner.--
''(A) In general.--The tax matters partner of any
partnership is--
''(i) the partner designated as the tax
matters partner as provided in regulations, or
''(ii) if there is no partner who has been
so designated, the partner having the largest
profits interest in the partnership at the
close of the taxable year involved (or, where
there is more than 1 such partner, the 1 of
such partners whose name would appear first in
an alphabetical listing).
''(B) Selection by secretary.--If there is no
partner designated under subparagraph (A)(i) and the
Secretary determines that it is impracticable to apply
subparagraph (A)(ii), the partner selected by the
Secretary shall be treated as the tax matters partner.
The Secretary shall, within 30 days of selecting a tax
matters partner under the preceding sentence, notify
all partners required to receive notice under section
6223(a) of the name and address of the person selected.
''(C) Restriction on designation of partner.--A
partner may not be designated as a tax matters partner
under subparagraph (A)(i) unless such partner is not
limited as to participation in management or activity
of the partnership.''.
(f) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2004.

SEC. 3. REFERENCES TO LIMITED PARTNERS.

(a) Limited Entrepreneur.--
(1) In general.--Subparagraph (A) of section 464(e)(2) of
the Internal Revenue Code of 1986 (defining limited
entrepreneur) is amended by striking ''other than as a limited
partner''.
(2) Conforming amendments.--
(A) Section 464(c) of such Code is amended--
(i) by striking ''limited partners or'' in
paragraph (1)(B),
(ii) by striking ''a limited partner or''
in paragraph (2).
(B) Section 1256 of such Code is amended--
(i) by striking ''limited partners or''
each place it appears in subsections (e)(3)(B)
and (f)(4),
(ii) by striking ''a limited partner or''
in subsection (e)(3)(C), and
(iii) by striking ''limited partner or''
both places it appears in the heading and text
of subsection (e)(4)(A)(i).
(C) Section 1258(d)(5)(C) of such Code is amended--
(i) by striking ''limited partner or'' in
the matter preceding subclause (i),
(ii) by striking ''limited partner's (or
limited entrepreneur's) in subclause (i) and
inserting ''limited entrepreneur's'', and
(iii) by striking ''partners and limited''
in the heading.
(b) Passive Loss Rules.--
(1) Subsection (h) of section 469 of such Code is amended
by striking paragraph (2) and by redesignating paragraphs (3),
(4), and (5) as paragraphs (2), (3), and (4), respectively.
(2) Subparagraph (A) of section 469(c)(7) of such Code is
amended by striking the last sentence.
(3) Paragraph (6) of section 469(i) of such Code is amended
by striking subparagraph (C) and by redesignating subparagraph
(D) as subparagraph (C).
(4) Subsection (f) of section 772 of such Code (relating to
special rules for applying passive loss limitations) is amended
to read as follows:
''(f) Special Rules for Applying Passive Loss Limitations.--
''(1) In general.--If any person holds an interest in an
electing large partnership other than as a partner described in
paragraph (3)--
''(A) paragraph (2) of subsection (c) shall not
apply to such partner, and
''(B) such partner's distributive share of the
partnership items allocable to passive loss limitation
activities shall be taken into account separately to
the extent necessary to comply with the provisions of
section 469.
''(2) Exception.--Paragraph (1) shall not apply to any
items allocable to an interest held as a partner described in
paragraph (3).
''(3) Partner described.--For purposes of this subsection,
a partner is described in this paragraph if the partner is a
person whose participation in the management or business
activity of the partnership is limited under applicable State
law.''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2004.

SEC. 4. PARTNERSHIP INCOME ATTRIBUTABLE TO CAPITAL EXCLUDED FROM NET
EARNINGS FROM SELF-EMPLOYMENT.

(a) In General.--Paragraph (13) of section 1402(a) of the Internal
Revenue Code of 1986 is amended to read as follows:
''(13) there shall be excluded the distributive share of
net income of a partner attributable to capital;''.
(b) Partnership Income Attributable to Capital.--Section 1402 of
such Code is amended by adding at the end the following new subsection:
''(l) Partnership Income Attributable to Capital.--
''(1) In general.--For purposes of subsection (a)(13), the
following amounts shall be treated as income attributable to
capital--
''(A) the amount, if any, in excess of what would
constitute reasonable compensation for services
rendered by such partner to the partnership, and
''(B) an amount equal to a reasonable rate of
return on unreturned capital of the partner determined
as of the beginning of the taxable year.
''(2) Definitions.--For purposes of paragraph (1)--
''(A) Unreturned capital.--The term 'unreturned
capital' means the excess of the aggregate amount of
money and the fair market value as of the date of
contribution of other consideration (net of
liabilities) contributed by the partner over the
aggregate amount of money and the fair market value as
of the date of distribution of other consideration (net
of liabilities) distributed by the partnership to the
partner, increased or decreased for the partner's
distributive share of all reportable items as
determined in section 702. If the partner acquires a
partnership interest and the partnership makes an
election under section 754, the partner's unreturned
capital shall take into account appropriate adjustments
under section 743.
''(B) Reasonable rate of return.--A reasonable rate
of return on unreturned capital shall equal 150 percent
(or such higher rate as is established in regulations)
of the highest applicable Federal rate, as determined
under section 1274(d)(1), at the beginning of the
partnership's taxable year.
''(3) Regulations.--The Secretary shall prescribe such
regulations as may be necessary to carry out the purposes of
this subsection.''.
(c) Effective Date.--The amendments made by this section shall
apply with respect to services performed in taxable years beginning
after December 31, 2004.

SEC. 5. REPEAL OF ABILITY TO ELECT LARGE PARTNERSHIP REPORTING RULES.

(a) In General.--Paragraph (2) of section 775(a) of the Internal
Revenue Code of 1986 (relating to election) is amended by adding at the
end the following: ''No election under this subsection shall be made
after December 31, 2004.''.
(b) Effective Date.--The amendment made by this section shall apply
to partnership taxable years beginning after December 31, 2004.

SOLUTION: State Business Law Conformity Act of 2004 - Amends the Internal Revenue Code to: (1) revise certain partnership tax definitions and rules relating to general and limited partners; (2) exclude from net earnings from self-employment partnership income attributable to capital; and (3) repeal, after 2004, the election to apply large partnership (100 partners or more) tax rules.

PROBLEM: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Mercury Reduction and Energy
Security Act of 2010''.

SEC. 2. FINDINGS AND PURPOSE.

(a) Findings.--Congress finds the following:
(1) The Environmental Protection Agency (''EPA'') was
required by the terms of the Clean Air Act Amendments of 1990
and a 1998 consent agreement to determine whether regulation of
mercury from electric utility steam generating units under
section 112 of the Clean Air Act was appropriate and necessary.
(2) In a December 2000, regulatory finding, the EPA
concluded that regulation of mercury from electric utility
steam generating units was appropriate and necessary.
(3) In 2005, the EPA withdrew its 2000 regulatory finding
in favor of a national cap-and-trade system for mercury
emissions from electric utility steam generating units, the
Clean Air Mercury Rule (''CAMR'').
(4) CAMR was subsequently challenged in petitions for
review filed by 17 States.
(5) The United States Court of Appeals for the District of
Columbia Circuit vacated the rule on February 8, 2008, finding
that once the EPA had listed electric utility steam generating
units as a source of hazardous air pollutants, it was required
by law to proceed with Maximum Achievable Control Technology
(''MACT'') regulations under section 112 of the Clean Air Act
unless it delisted the source category, under procedures set
forth in section 112(c)(9).
(6) Mercury control technologies for coal-fired electric
utility steam generating units have advanced rapidly in the
last few years.
(b) Purpose.--The purpose of this Act is to protect public health
and welfare, and the environment, through mercury emission reductions
from electric utility steam generating units.

SEC. 3. MERCURY EMISSION REDUCTIONS.

The Clean Air Act (42 U.S.C. 7401 et seq.) is amended by adding at
the end the following new title:

''TITLE VII--MERCURY REDUCTIONS

''SEC. 701. DEFINITIONS.

''In this title:
''(1) Affected unit.--The term 'affected unit' means a
coal-fired electric steam generating unit (including a
cogeneration unit) that--
''(A) has a nameplate capacity greater than 25
megawatts; and
''(B) generates electricity for sale.
''(2) Cogeneration unit.--The term 'cogeneration unit'
means a stationary, coal-fired boiler or a stationary, coal-
fired combustion turbine having equipment used to produce
electricity and useful thermal energy for industrial,
commercial, heating, or cooling purposes through the sequential
use of energy that produces during the 12-month period starting
on the date the unit first produces electricity and during any
calendar year after which the unit first produces electricity--
''(A) for a topping-cycle cogeneration unit--
''(i) useful thermal energy not less than 5
percent of total energy output; and
''(ii) useful power that, when added to
one-half of useful thermal energy produced, is
not less than--
''(I) 42.5 percent of total energy
input if useful thermal energy produced
is 15 percent or more of total energy
output; or
''(II) 45 percent of total energy
input if useful thermal energy produced
is less than 15 percent of total energy
output; and
''(B) for a bottoming-cycle cogeneration unit,
useful power not less than 45 percent of total energy
input.
''(3) Inlet mercury.--The term 'inlet mercury' means the
quantity of mercury found--
''(A) in the as-fired coal used by an affected
unit; or
''(B) for an affected unit using coal that is
subjected to an advanced coal cleaning technology, in
the as-mined coal used by the affected unit.

''SEC. 702. MERCURY REDUCTION PROGRAM.

''(a) Annual Limitation for Affected Units.--Except as provided in
subsection (f), an affected unit in operation before or after the date
of enactment of this title shall be subject to the following emission
limitations on an annual average calendar year basis with respect to
mercury:
''(1) Calendar years 2012 through 2014.--For the period
beginning on January 1, 2012, and ending on December 31, 2014,
the less stringent limitation of the following (calculated on a
one-year rolling average):
''(A) 80 percent capture of inlet mercury.
''(B) An emission rate of 1.60 pounds of mercury
per trillion British thermal units of input coal.
''(2) Calendar year 2015 and thereafter.--For calendar year
2015 and each calendar year thereafter, the less stringent
limitation of the following (calculated on a one-year rolling
average):
''(A) 90 percent capture of inlet mercury.
''(B) An emission rate of 0.80 pounds of mercury
per trillion British thermal units of input coal.
''(b) Averaging Across Units Within a Facility or State.--(1) An
owner or operator of more than one affected unit at a single facility
may demonstrate compliance with the applicable annual average emission
limitations under subsection (a) by averaging emissions from all
affected units at that facility, weighted by total input coal British
thermal units.
''(2) An owner or operator of more than one affected unit or units
within a State may demonstrate compliance with the applicable annual
average emission limitations under subsection (a) by averaging
emissions from all affected units owned or operated by that owner or
operator within such State, weighted by total input coal British
thermal units, if all affected units are owned or operated by the same
entity.
''(3) If an affected unit is owned or operated by more than one
entity, the State in which the affected unit is located shall allocate
to each such owner or operator an appropriate portion of the generation
from the affected unit for purposes of averaging emissions pursuant to
paragraph (1) or (2).
''(c) Reference Methods for Measuring Mercury Emissions.--(1) The
owner or operator of an affected unit shall use any of the following
methods as a reference method to calibrate the instruments used to
measure the mercury concentration in emissions from affected units:
''(A) ASTM D6784-02, 'Standard Test Method for
Elemental, Oxidized, Particle-Bound and Total Mercury
in Flue Gas Generated from Coal-Fired Stationary
Sources' (Ontario Hydro Method).
''(B) 40 C.F.R. Part 60, Appendix A-8, Method 29,
'Determination of Metals Emissions from Stationary
Sources'.
''(C) 40 C.F.R. Part 60, Appendix A-8, Method 30A,
'Determination of Total Vapor Phase Mercury Emissions
from Stationary Sources (Instrumental Analyzer
Procedure)'.
''(D) 40 C.F.R. Part 60, Appendix A-8, Method 30B,
'Determination of Total Vapor Phase Mercury Emissions
from Coal-Fired Combustion Sources Using Carbon Sorbent
Traps'.
''(2) The Administrator may revise or supplement the list of
permitted methods set forth in paragraph (1) to reflect improvements or
other developments in the measurement of mercury emissions from coal-
fired electric steam generating units.
''(d) Monitoring System.--(1) The owner or operator of an affected
unit shall install and operate a continuous emissions monitoring system
(CEMS) to measure the quantity of mercury that is emitted from each
affected unit.
''(2) For purposes of complying with paragraph (1), the owner or
operator of an affected unit may use--
''(A) any CEMS that meets the requirements in Performance
Specification 12A (PS-12A), 'Specifications and Test Procedures
for Total Vapor-Phase Mercury Continuous Monitoring Systems in
Stationary Sources';
''(B) a mercury concentration CEMS that meets the
requirements of 40 C.F.R. Part 75; or
''(C) a sorbent trap monitoring system that meets the
requirements of 40 C.F.R. 75.15 and 40 C.F.R. Part 75, Appendix
K, 'Quality Assurance and Operating Procedures for Sorbent Trap
Monitoring Systems';
''(3) The Administrator may revise or supplement the list
of permitted monitoring systems set forth in paragraph (2) to
reflect improvements or other developments in mercury emissions
reduction technologies and mercury emissions monitoring
systems.
''(e) Excess Emissions.--(1) Except as provided in subsection (f),
the owner or operator of an affected unit that emits mercury in excess
of the applicable annual average emission limitation under subsection
(a) shall pay an excess emissions penalty determined under paragraph
(2).
''(2) The excess emissions penalty for mercury shall be an amount
equal to $50,000 for each pound of mercury emitted in excess of the
applicable annual average emission limitation under subsection (a).
Such penalty shall be prorated for each fraction of a pound.
''(f) Best Practices.--(1) Effective, January 1, 2015, if the owner
or operator of any affected unit fails to achieve the annual average
emission limitation under subsection (a)(2), such owner or operator may
notify the Administrator of such failure prior to March 1, 2015, and
request an alternate emissions limitation for mercury with respect to
such affected unit. Such owner or operator shall submit to the
Administrator mercury emissions data measured by a CEMS that complies
with subsection (d) for evaluation. If the Administrator determines
that such owner or operator has properly installed and operated such
CEMS and control technology designed to achieve such annual average
emission limitation and is unable to meet such limitation, the
Administrator may, not later than April 1, 2016, establish an alternate
emissions limitation for mercury with respect to such affected unit
based on the optimal performance of properly installed and operated
control technology.
''(2) With respect to any affected unit, for any year for which an
alternate emissions limitation for mercury is in place for such
affected unit, the Administrator may review such alternate emissions
limitation and impose a more stringent emissions limitation for mercury
for the subsequent year based on new data regarding the demonstrated
control capabilities of the type of control technology installed and
operated at such affected unit.
''(3)(A) Except as provided in subparagraph (B), an owner or
operator of an affected unit failing to achieve the annual average
emission limitation under subsection (a)(2) that notifies the
Administrator of such failure and requests and alternate emissions
limitation for mercury pursuant to paragraph (1) shall be considered in
compliance with this section (and not subject to any excess emissions
penalty) for the period beginning on January 1, 2015, and ending on the
date such an alternate emissions limitation is implemented.
''(B) An owner or operator described in subparagraph (A) shall pay
an excess emissions penalty, as determined under subsection (e)(2), for
the period described in such subparagraph, if such owner or operator
operates or maintains the affected unit, including any associated air
pollution control equipment, in a manner that is inconsistent with good
air pollution control practices for the minimization of mercury
emissions, as determined by the Administrator. In determining whether
the owner or operator of the affected unit operates and maintains the
affected unit in a manner that is consistent with good air pollution
control practices for the minimization of mercury emissions, the
Administrator may review the emissions monitoring data and operating
and maintenance procedures of the affected unit and may inspect the
affected unit.
''(4)(A) With respect to any affected unit for which an alternate
emissions limitation for mercury is in place under this subsection, the
owner or operator of such affected unit that emits mercury in excess of
such alternate emissions limitation shall pay an excess emissions
penalty determined under subparagraph (B).
''(B) The excess emissions penalty for mercury for an owner or
operator of an affected unit described in subparagraph (A) shall be an
amount equal to $50,000 for each pound of mercury emitted in excess of
the alternate emissions limitation for mercury in place for such
affected unit. Such penalty shall be prorated for each fraction of a
pound.
''(g) Sole Limitation on Mercury.--This title shall apply the sole
emission standard or limitation under this Act with regard to the
emission of mercury from electric utility steam generating units and
shall supersede any other such requirement under section 112 or any
other provision of this Act.
''(h) Relationship to Other Law.--Except as otherwise specifically
provided in this title, nothing in this title precludes a State or
political subdivision of a State from adopting or enforcing any
additional requirements for the control or abatement of mercury
emissions, except that no State or political subdivision thereof shall
adopt or attempt to enforce any standard relating to the reduction or
control of mercury emissions from electric utility steam generating
units that is less stringent than the standards provided in this
title.''.

SOLUTION: Mercury Reduction and Energy Security Act of 2010 - Amends the Clean Air Act to require affected units (coal-fired electric steam generating units that have nameplate capacities greater than 25 megawatts and generate electricity for sale) to reduce mercury emissions by the less stringent limitation of: (1) 80% capture of inlet mercury or an emission rate of 1.6 pounds of mercury per trillion British thermal units (Btu) of input coal for the period beginning on January 1, 2012, and ending December 31, 2014; and (2) 90% capture of inlet mercury or an emission rate of 0.8 pounds of mercury per trillion Btu of input coal by 2015 and each year thereafter.

Specifies methods that owners or operators of affected units are required to use as reference methods in calibrating the instruments used to measure the mercury concentrations in emissions from affected units.

Establishes excess emissions penalties for mercury. Sets forth compliance provisions.

Authorizes: (1) owners or operators of affected units that fail to achieve such limitations to request an alternate emission limitation; (2) the Administrator of the Environmental Protection Agency (EPA) to establish alternate limitations if the Administrator determines that the owner or operator has properly installed and operated continuous emissions monitoring system and control technology designed to achieve such limitations and is unable to achieve such limitations; and (3) the Administrator, after granting alternate limitations, to impose more stringent emissions limitations in subsequent years. Makes such alternate limitations effective January 1, 2015.

Provides that this Act supersedes any other requirement in such Act with regard to the emission of mercury from electric utility steam generating units.

PROBLEM: SECTION 1. AUTHORITY TO IMPOSE SECONDARY MARKET FEES.

(a) Section 5(g) of the Small Business Act (15 U.S.C. 634) is
amended by striking paragraph (4) and by inserting in lieu thereof the
following:
''(4) The Administration may collect the following fees for loan
guarantees sold into the secondary market pursuant to the provisions of
subsection (f): an amount equal to (A) not more than .4 percent per
year on the outstanding balance of such loan guaranteed by the
Administration, and (B) not more than 50 percent of that portion of the
sale price which is in excess of 110 percent of the outstanding
principal amount of such loan guaranteed by the Administration. Any
such fees imposed by the Administration shall be collected by the agent
which carries out on behalf of the Administration the central
registration functions required by subsection (h) of this section and
shall be paid to the Administration and used solely to reduce the
subsidy on loans guaranteed under section 7(a) of this Act: Provided,
That such fees shall not be charged to the borrower whose loan is
guaranteed: and, Provided further, That nothing herein shall preclude
any agent of the Administration from collecting a fee approved by the
Administration for the functions described in subsection (h)(2).''.
(b) Any new fees imposed by the Administration pursuant to the
authority conferred by subsection (a) shall be applicable only to loans
initially sold in the secondary market pursuant to the provisions of
section 5(f) of the Small Business Act after August 31, 1993.

SEC. 2. AUTHORITY TO REDUCE LOAN GUARANTEE PERCENTAGES.

(a) Section 7(a)(2) of the Small Business Act (15 U.S.C. 636) is
amended--
(1) by striking from the end of clause (B)(i) the word
''and'' and by redesignating clause (B)(ii) as (B)(iv) and by
inserting the following after clause (B)(i):
''(ii) not less than 75 percent of the
financing outstanding at the time of
disbursement, if such financing is more than
$155,000 and the period of maturity of such
financing is more than 10 years, except that
the participation by the Administration may be
reduced below 75 percent upon request of the
participating lender;
''(iii) not less than 85 percent of the
financing outstanding at the time of
disbursement, if such financing is more than
$155,000 and the period of maturity of such
financing is 10 years or less, except that the
participation by the Administration may be
reduced below 85 percent upon request of the
participating lender; and'';
(2) by striking the words ''85 percent under subparagraph
(B)'' and by inserting in lieu thereof the following: ''the
above specified percentums'';
(3) by striking from paragraph (B) the words ''not less
than 80 percent, except upon'' and by inserting in lieu thereof
the following: ''not less than 70 percent, unless a lesser
percent is required by clause (B)(ii) or upon the''; and
(4) by inserting after the third sentence the following:
''The maximum interest rate for a loan guaranteed under the
Preferred Lenders Program shall not exceed the maximum interest
rate, as determined by the Administration, which is made
applicable to other loan guarantees under section 7(a).''.
(b) The amendments made by subsection (a) shall be effective
September 1, 1993, but shall not be applicable to loan guarantee
applications received by the Administration prior to August 21, 1993.

SEC. 3. STUDY AND REPORT.

The Administration shall study, monitor and evaluate the impact of
the amendments made by sections 1 and 2 of this Act on the ability of
small business concerns and small business concerns owned and
controlled by minorities and women, to obtain financing and the impact
of such sections on the effectiveness, viability and growth of the
secondary market authorized by section 5(f) of the Small Business Act.
Not later than 16 months after the date of enactment, and annually
thereafter, the Administration shall submit to the Committees on Small
Business of the Senate and the House of Representatives a report
containing the Administration's findings and recommendations on such
impact, specifically including changes in the interest rates on
financings provided to small business concerns and small business
concerns owned and controlled by minorities and women, through the use
of the secondary market. The Administration shall segregate such
findings and recommendations in the study according to the ethnic and
gender components in these categories. Solely for the purposes of the
study authorized herein, the term ''small business concerns owned and
controlled by minorities'', includes businesses owned and controlled by
individuals belonging to one of the designated groups listed in section
8(d)(3)(C) of the Small Business Act.

SEC. 4. REPEALER.

Sections 1 and 2 of this Act are hereby repealed on September 30,
1996.

Passed the House of Representatives August 2, 1993.

Attest:

DONNALD K. ANDERSON,

Clerk.

SOLUTION:
Amends the Small Business Act to temporarily authorize the Small Business Administration (SBA) to collect a fee for loan guarantees sold into the secondary market. Requires all fees so collected to be used solely to reduce the subsidy on such guaranteed loans. Applies such fees to loans sold into secondary markets after August 31, 1993. Authorizes the SBA to temporarily reduce the guarantee percentage of loans exceeding $155,000 and having a maturity period of more than ten years.
Directs the SBA to study, monitor, and evaluate the impact of amendments made by this Act on the ability of small businesses, and small businesses owned and controlled by minorities and women, to obtain financing and on the effectiveness, viability, and growth of the secondary loan market authorized under the Small Business Act. Requires a report.
Repeals provisions of this Act concerning reduced loan guarantees on September 30, 1996.