HR 4062 · 108th Congress · Commerce
To provide for an additional temporary extension of programs under the Small Business Act and the Small Business Investment Act of 1958 through June 4, 2004, and for other purposes.
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EnactedLatest: Became Public Law No: 108-217.(2004-04-05)
Plain Language Summary
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Extends through June 4 (currently, April 2), 2004, under the same terms and conditions, the authorization for any program, authority, or provision, including any pilot program, that is authorized under the Small Business Act (the Act) or the Small Business Investment Act of 1958 (SBIA) as of September 30, 2003. Amends the SBIA to extend through FY 2004 (currently, May 21, 2004) the authority of the Small Business Administration (SBA) to charge and collect certain fees in connection with the guarantee of development company debentures under the small business investment program. Amends the Act to authorize the SBA to make specified amounts in purchases of participating securities and guarantees of debentures under the SBIA small business investment company program. Provides that, during the period beginning on the enactment of this Act and ending on September 30, 2004, in the case of any combination financing by a small business (receiving a loan guaranteed by the SBA and a commercial loan, no portion of which is guaranteed by the Federal Government), the amount of the commercial loan shall not exceed the gross amount of the guaranteed loan which is part of the financing. Allows the…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (2)
1 Democrat1 Republican