§ 633. — Small Business Administration.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC633]
TITLE 15--COMMERCE AND TRADE
CHAPTER 14A--AID TO SMALL BUSINESS
Sec. 633. Small Business Administration
(a) Creation; principal, branch, and regional offices
In order to carry out the policies of this chapter there is created
an agency under the name ``Small Business Administration'' (herein
referred to as the Administration), which Administration shall be under
the general direction and supervision of the President and shall not be
affiliated with or be within any other agency or department of the
Federal Government. The principal office of the Administration shall be
located in the District of Columbia. The Administration may establish
such branch and regional offices in other places in the United States as
may be determined by the Administrator of the Administration. As used in
this chapter, the term ``United States'' includes the several States,
the Territories and possessions of the United States, the Commonwealth
of Puerto Rico, the Trust Territory of the Pacific Islands, and the
District of Columbia.
(b) Appointment of Administrator, Deputy Administrator, and Associate
Administrators; duties of Administrator: preparation of data
base and publication of economic indices and annual report; risk
management database; computer security and education program
(1) The management of the Administration shall be vested in an
Administrator who shall be appointed from civilian life by the
President, by and with the advice and consent of the Senate, and who
shall be a person of outstanding qualifications known to be familiar and
sympathetic with small-business needs and problems. The Administrator
shall not engage in any other business, vocation, or employment than
that of serving as Administrator. In carrying out the programs
administered by the Small Business Administration including its lending
and guaranteeing functions, the Administrator shall not discriminate on
the basis of sex or marital status against any person or small business
concern applying for or receiving assistance from the Small Business
Administration, and the Small Business Administration shall give special
consideration to veterans of the Armed Forces of the United States and
their survivors or dependents. The President also may appoint a Deputy
Administrator, by and with the advice and consent of the Senate. The
Administrator is authorized to appoint five Associate Administrators
(including the Associate Administrator specified in section 671 of this
title) to assist in the execution of the functions vested in the
Administration. One such Associate Administrator shall be the Associate
Administrator for Veterans Business Development, who shall administer
the Office of Veterans Business Development established under section
657b of this title. One of the Associate Administrators shall be
designated at the time of his appointment as the Associate Administrator
for Minority Small Business and Capital Ownership Development who shall
be an employee in the competitive service or in the Senior Executive
Service and a career appointee and shall be responsible to the
Administrator for the formulation and execution of the policies and
programs under sections 636(j) and 637(a) of this title which provide
assistance to minority small business concerns. The Deputy Administrator
shall be Acting Administrator of the Administration during the absence
or disability of the Administrator or in the event of a vacancy in the
office of the Administrator.
(2) The Administrator also shall be responsible for--
(A) establishing and maintaining an external small business
economic data base for the purpose of providing the Congress and the
Administration information on the economic condition and the
expansion or contraction of the small business sector. To that end,
the Administrator shall publish on a regular basis national small
business economic indices and, to the extent feasible, regional
small business economic indices, which shall include, but need not
be limited to, data on--
(i) employment, layoffs, and new hires;
(ii) number of business establishments and the types of such
establishments such as sole proprietorships, corporations, and
partnerships;
(iii) number of business formations and failures;
(iv) sales and new orders;
(v) back orders;
(vi) investment in plant and equipment;
(vii) changes in inventory and rate of inventory turnover;
(viii) sources and amounts of capital investment, including
debt, equity, and internally generated funds;
(ix) debt to equity ratios;
(x) exports;
(xi) number and dollar amount of mergers and acquisitions by
size of acquiring and acquired firm; and
(xii) concentration ratios; and
(B) publishing annually a report giving a comparative analysis
and interpretation of the historical trends of the small business
sector as reflected by the data acquired pursuant to subparagraph
(A) of this subsection.
(3) Risk management database.--
(A) Establishment.--The Administration shall establish, within
the management system for the loan programs authorized by
subsections (a) and (b) of section 636 of this title and title V of
the Small Business Investment Act of 1958 [15 U.S.C. 695 et seq.], a
management information system that will generate a database capable
of providing timely and accurate information in order to identify
loan underwriting, collections, recovery, and liquidation problems.
(B) Information to be maintained.--In addition to such other
information as the Administration considers appropriate, the
database established under subparagraph (A) shall, with respect to
each loan program described in subparagraph (A), include information
relating to--
(i) the identity of the institution making the guaranteed
loan or issuing the debenture;
(ii) the identity of the borrower;
(iii) the total dollar amount of the loan or debenture;
(iv) the total dollar amount of government exposure in each
loan;
(v) the district of the Administration in which the borrower
has its principal office;
(vi) the principal line of business of the borrower, as
identified by Standard Industrial Classification Code (or any
successor to that system);
(vii) the delinquency rate for each program (including
number of instances and days overdue);
(viii) the number and amount of repurchases, losses, and
recoveries in each program;
(ix) the number of deferrals or forbearances in each program
(including days and number of instances);
(x) comparisons on the basis of loan program, lender,
Administration district and region, for all the data elements
maintained; and
(xi) underwriting characteristics of each loan that has
entered into default, including term, amount and type of
collateral, loan-to-value and other actual and projected ratios,
line of business, credit history, and type of loan.
(C) Deadline for operational capability.--The database
established under subparagraph (A) shall--
(i) be operational not later than June 30, 1997; and
(ii) capture data beginning on the first day of the second
quarter of fiscal year 1997 beginning after such date and
thereafter.
(4)(A) The Administrator shall establish a small business computer
security and education program to--
(i) provide small business concerns information regarding--
(I) utilization and management of computer technology;
(II) computer crimes committed against small business
concerns; and
(III) security for computers owned or utilized by small
business concerns;
(ii) provide for periodic forums for small business concerns to
improve their knowledge of the matters described in clause (i); and
(iii) provide training opportunities to educate small business
users on computer security techniques.
(B) The Administrator, after consultation with the Director of the
Institute of Computer Sciences and Technology within the Department of
Commerce, shall develop information and materials to carry out the
activities described in subparagraph (A) of this paragraph.
(c) Revolving funds; disaster loan fund; business loan and investment
fund; payments into funds; appropriations; reports to Congress;
business-type budgets; borrowing authority: terms and conditions
of notes, interest rate, public debt transactions; payments into
miscellaneous receipts; authorization of appropriations for
losses and interest subsidies
(1) There are established in the Treasury the following revolving
funds: (A) a disaster loan fund which shall be available for financing
functions performed under sections 634(e), 636(b)(1), 636(b)(2),
636(b)(3), 636(b)(4), 636(c)(2), and 636(m) of this title; and (B) a
business loan and investment fund which shall be available for financing
functions performed under sections 634(g), 636(a) and 637(a) of this
title, and titles III, IV and V of the Small Business Investment Act of
1958 [15 U.S.C. 681 et seq., 692 et seq., 695 et seq.].
(2) All repayments of loans and debentures, payments of interest and
other receipts arising out of transactions heretofore or hereafter
entered into by the Administration (A) pursuant to sections 634(e),
636(b)(1), 636(b)(2), 636(b)(3), 636(b)(4), 636(b)(5), 636(b)(6),
636(b)(7), 636(b)(8), 636(c)(2), and 636(g) of this title, shall be paid
into a disaster loan fund; and (B) pursuant to sections 634(g), 636(a),
636(e),\1\ 636(h), 636(i), 636(l),\1\ 636(m), and 637(a) of this title,
and titles III, IV and V of the Small Business Investment Act of 1958
[15 U.S.C. 681 et seq., 692 et seq., 695 et seq.], shall be paid into
the business loan and investment fund.
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\1\ See References in Text note below.
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(3) Unexpended balances of appropriations made to the fund pursuant
to this subsection, as in effect immediately prior to the effective date
of this paragraph, shall be allocated, together with related assets and
liabilities, to the funds established by paragraph (1) in such amounts
as the Administrator shall determine.
(4) The Administration shall submit to the Committees on
Appropriations, Senate Select Committee on Small Business, and the
Committee on Small Business of the House of Representatives, as soon as
possible after the beginning of each calendar quarter, a full and
complete report on the status of each of the funds established by
paragraph (1). Business-type budgets for each of the funds established
by paragraph (1) shall be prepared, transmitted to the Committees on
Appropriations, the Senate Select Committee on Small Business, and the
Committee on Small Business of the House of Representatives, and
considered, and enacted in the manner prescribed by law (sections 9103
and 9104 of title 31) for wholly owned Government corporations.
(5)(A) The Administration is authorized to make and issue notes to
the Secretary of the Treasury for the purpose of obtaining funds
necessary for discharging obligations under the revolving funds created
by paragraph (1) and for authorized expenditures out of the funds. Such
notes shall be in such form and denominations and have such maturities
and be subject to such terms and conditions as may be prescribed by the
Administration with the approval of the Secretary of the Treasury. Such
notes shall bear interest at a rate fixed by the Secretary of the
Treasury, taking into consideration the current average market yield of
outstanding marketable obligations of the United States having
maturities comparable to the notes issued by the Administration under
this paragraph. The Secretary of the Treasury is authorized and directed
to purchase any notes of the Administration issued hereunder, and, for
that purpose, the Secretary of the Treasury is authorized to use as a
public debt transaction the proceeds from the sale of any securities
issued under chapter 31 of title 31, and the purposes for which such
securities may be issued under such chapter are extended to include the
purchase of notes issued by the Administration. All redemptions,
purchases, and sales by the Secretary of the Treasury of such notes
shall be treated as public debt transactions of the United States. All
borrowing authority contained herein shall be effective only to such
extent or in such amounts as are provided in advance in appropriation
Acts.
(B)(i) Moneys in the funds established in paragraph (1) not needed
for current operations may be paid into miscellaneous receipts of the
Treasury.
(ii) Following the close of each fiscal year, the Administration
shall pay into the miscellaneous receipts of the United States Treasury
the actual interest that the Administration collects during that fiscal
year on all financings made under this chapter.
(C) Except on those loan disbursements on which interest is paid
under paragraph (5)(B)(ii), the Administration shall pay into
miscellaneous receipts of the Treasury, following the close of each
fiscal year, interest received by the Administration on financing
functions performed under this chapter and titles III and V of the Small
Business Investment Act of 1958 [15 U.S.C. 681 et seq., 695 et seq.]
providing the capital used to perform such functions originated from
appropriated funds. Such payments shall be treated by the Department of
the Treasury as interest income, not as retirement of indebtedness.
(D) There are authorized to be appropriated, in any fiscal year,
such sums as may be necessary for losses and interest subsidies incurred
by the funds established by paragraph (1), but not previously
reimbursed.
(d) Creation and composition of Loan Policy Board; establishment of
policies
There is created the Loan Policy Board of the Small Business
Administration, which shall consist of the following members, all ex
officio: The Administrator, as Chairman, the Secretary of the Treasury,
and the Secretary of Commerce. Either of the said Secretaries may
designate an officer of his Department, who has been appointed by the
President by and with the advice and consent of the Senate, to act in
his stead as a member of the Loan Policy Board with respect to any
matter or matters. The Loan Policy Board shall establish general
policies (particularly with reference to the public interest involved in
the granting and denial of applications for financial assistance by the
Administration and with reference to the coordination of the functions
of the Administration with other activities and policies of the
Government), which shall govern the granting and denial of applications
for financial assistance by the Administration.
(e) Prohibition on provision of assistance
Notwithstanding any other provision of law, the Administration is
prohibited from providing any financial or other assistance to any
business concern or other person engaged in the production or
distribution of any product or service that has been determined to be
obscene by a court of competent jurisdiction.
(f) Certification of compliance with child support obligations
(1) In general
For financial assistance approved after the promulgation of
final regulations to implement this section, each recipient of
financial assistance under this chapter, including a recipient of a
direct loan or a loan guarantee, shall certify that the recipient is
not more than 60 days delinquent under the terms of any--
(A) administrative order;
(B) court order; or
(C) repayment agreement entered into between the recipient
and the custodial parent or State agency providing child support
enforcement services,
that requires the recipient to pay child support, as such term is
defined in section 662(b) \1\ of title 42.
(2) Enforcement
Not later than 6 months after October 22, 1994, the
Administration shall promulgate such regulations as may be necessary
to enforce compliance with the requirements of this subsection.
(Pub. L. 85-536, Sec. 2[4], July 18, 1958, 72 Stat. 384; Pub. L. 85-699,
title II, Sec. 202, formerly Sec. 202(a), Aug. 21, 1958, 72 Stat. 690,
renumbered Pub. L. 87-341, Sec. 11(h)(1), Oct. 3, 1961, 75 Stat. 757;
amended Pub. L. 86-367, Sec. 1, Sept. 22, 1959, 73 Stat. 647; Pub. L.
87-70, title III, Sec. 305(c), June 30, 1961, 75 Stat. 167; Pub. L. 87-
198, Sept. 5, 1961, 75 Stat. 468; Pub. L. 87-305, Sec. 3, Sept. 26,
1961, 75 Stat. 666; Pub. L. 87-341, Secs. 11(h)(3), (4), 12, Oct. 3,
1961, 75 Stat. 757; Pub. L. 87-550, Sec. 1(a), July 25, 1962, 76 Stat.
220; Pub. L. 89-59, Secs. 1(c), 2, June 30, 1965, 79 Stat. 207; Pub. L.
89-78, July 21, 1965, 79 Stat. 243; Pub. L. 89-117, title III,
Sec. 316(d), Aug. 10, 1965, 79 Stat. 484; Pub. L. 89-334, Nov. 8, 1965,
79 Stat. 1294; Pub. L. 89-409, Secs. 1, 2, May 2, 1966, 80 Stat. 132;
Pub. L. 89-779, Sec. 8(a), (b), Nov. 6, 1966, 80 Stat. 1364; Pub. L. 90-
104, title I, Sec. 102, Oct. 11, 1967, 81 Stat. 268; Pub. L. 90-448,
title XVII, Sec. 1721, Aug. 1, 1968, 82 Stat. 610; Pub. L. 91-173, title
V, Sec. 504(c), Dec. 30, 1969, 83 Stat. 802; Pub. L. 91-558, title I,
Sec. 101, Dec. 17, 1970, 84 Stat. 1468; Pub. L. 91-596, Sec. 28(c), Dec.
29, 1970, 84 Stat. 1618; Pub. L. 91-597, Sec. 25(c), Dec. 29, 1970, 84
Stat. 1634; Pub. L. 92-16, May 18, 1971, 85 Stat. 39; Pub. L. 92-320,
Sec. 1, June 27, 1972, 86 Stat. 382; Pub. L. 92-385, Sec. 2(b), Aug. 16,
1972, 86 Stat. 556; Pub. L. 92-500, Sec. 8(b), Oct. 18, 1972, 86 Stat.
899; Pub. L. 92-595, Sec. 3(a), Oct. 27, 1972, 86 Stat. 1316; Pub. L.
93-237, Secs. 1, 3(b), 8, Jan. 2, 1974, 87 Stat. 1023-1025; Pub. L. 93-
386, Secs. 2(a)(2), (3), 7, Aug. 23, 1974, 88 Stat. 742, 748; Pub. L.
94-273, Sec. 2(5), Apr. 21, 1976, 90 Stat. 375; Pub. L. 95-14, Secs. 1-
3, Mar. 24, 1977, 91 Stat. 25; Pub. L. 95-89, title I, Sec. 101(a)-(c),
title II, Secs. 201, 202, title III, Sec. 304, title IV, Sec. 401, Aug.
4, 1977, 91 Stat. 553, 557, 559; Pub. L. 95-315, Sec. 4, July 4, 1978,
92 Stat. 379; Pub. L. 95-507, title II, Sec. 206, Oct. 24, 1978, 92
Stat. 1766; Pub. L. 96-302, title I, Sec. 121, title IV, Sec. 401, July
2, 1980, 94 Stat. 842, 849; Pub. L. 96-481, title I, Sec. 103, Oct. 21,
1980, 94 Stat. 2321; Pub. L. 97-35, title XIX, Secs. 1908, 1913(b),
1915, Aug. 13, 1981, 95 Stat. 778, 780; Pub. L. 98-270, title III,
Sec. 306, Apr. 18, 1984, 98 Stat. 161; Pub. L. 98-352, Sec. 5, July 10,
1984, 98 Stat. 331; Pub. L. 98-362, Secs. 3, 4, July 16, 1984, 98 Stat.
431, 433; Pub. L. 100-590, title I, Sec. 111(a), Nov. 3, 1988, 102 Stat.
2995; Pub. L. 100-656, title IV, Sec. 401(a), Nov. 15, 1988, 102 Stat.
3873; Pub. L. 101-37, Sec. 11(a), June 15, 1989, 103 Stat. 73; Pub. L.
101-515, title V, Sec. 1(a), Nov. 5, 1990, 104 Stat. 2140; Pub. L. 101-
574, title II, Sec. 221(a), Nov. 15, 1990, 104 Stat. 2823; Pub. L. 102-
140, title VI, Sec. 609(k), Oct. 28, 1991, 105 Stat. 831; Pub. L. 103-
403, title VI, Secs. 601, 611, 612, Oct. 22, 1994, 108 Stat. 4201, 4204;
Pub. L. 104-208, div. D, title I, Sec. 102, Sept. 30, 1996, 110 Stat.
3009-725; Pub. L. 106-50, title II, Sec. 201(a), Aug. 17, 1999, 113
Stat. 235.)
References in Text
The effective date of this paragraph, referred to in subsec. (c)(3),
is July 1, 1966, pursuant to Pub. L. 89-409, Sec. 2.
The Small Business Investment Act of 1958, referred to in subsecs.
(b)(3)(A) and (c)(1), (2), (5)(C), is Pub. L. 85-699, Aug. 21, 1958, 72
Stat. 689, as amended. Titles III, IV, and V of the Act are classified
generally to subchapters III (Sec. 681 et seq.), IV (Sec. 692 et seq.),
and V (Sec. 695 et seq.) of chapter 14B of this title. For complete
classification of this Act to the Code, see Short Title note set out
under section 661 of this title and Tables.
Sections 636(e) and 636(l) of this title, referred to in subsec.
(c)(2)(B), were amended generally to read ``[RESERVED].'' by Pub. L.
104-208, div. D, title I, Sec. 107(b), (d), Sept. 30, 1996, 110 Stat.
3009-732.
Section 662 of title 42, referred to in subsec. (f)(1), was repealed
by Pub. L. 104-193, title III, Sec. 362(b)(1), Aug. 22, 1996, 110 Stat.
2246.
Codification
In subsec. (c)(4), (5)(A), ``(sections 9103 and 9104 of title 31)''
substituted for ``(sections 102, 103, and 104 of the Government
Corporation Control Act (31 U.S.C. 847-849))'', and ``chapter 31 of
title 31'' and ``such chapter'' substituted for ``the Second Liberty
Bond Act, as amended'' and ``such Act, as amended,'', respectively, on
authority of Pub. L. 97-258, Sec. 4(b), Sept. 13, 1982, 96 Stat. 1067,
the first section of which enacted Title 31, Money and Finance.
Prior Provisions
Prior similar provisions were contained in section 204 of act July
30, 1953, ch. 282, title II, 67 Stat. 233, as amended by acts Aug. 9,
1955, ch. 628, Sec. 3, 69 Stat. 547; Feb. 2, 1956, ch. 29, Sec. 1, 70
Stat. 10; July 31, 1956, ch. 804, title I, Secs. 106(a), 107(b), 70
Stat. 737; Pub. L. 85-4, Secs. 1, 2, Feb. 11, 1957, 71 Stat. 1; Pub. L.
85-120, Sec. 1, Aug. 3, 1957, 71 Stat. 341, which was previously
classified to this section. See Codification note set out under section
631 of this title.
Amendments
1999--Subsec. (b)(1). Pub. L. 106-50 substituted ``five Associate
Administrators'' for ``four Associate Administrators'' in fifth sentence
and inserted after fifth sentence ``One such Associate Administrator
shall be the Associate Administrator for Veterans Business Development,
who shall administer the Office of Veterans Business Development
established under section 657b of this title.''
1996--Subsec. (b)(3). Pub. L. 104-208 added par. (3).
1994--Subsec. (c)(5)(B)(ii). Pub. L. 103-403, Sec. 601, amended cl.
(ii) generally. Prior to amendment, cl. (ii) read as follows: ``The
Administration shall pay into miscellaneous receipts of the Treasury,
following the close of each fiscal year, interest on the average of loan
disbursements outstanding throughout the year providing such
disbursements are made from amounts appropriated for the disaster loan
fund after October 1, 1980 or are made from repayments of principal of
loans made from funds appropriated to the disaster loan fund, or from
amounts appropriated to the business loan and investment fund on or
after October 1, 1981 or are made from repayments of principal of loans
made from funds appropriated to the business loan and investment fund
and received on or after October 1, 1981. This interest shall be
calculated solely on the amount of loan disbursements net of losses at
the rate provided under paragraph (5)(A).''
Subsec. (e). Pub. L. 103-403, Sec. 611, added subsec. (e).
Subsec. (f). Pub. L. 103-403, Sec. 612, added subsec. (f).
1991--Subsec. (c)(1)(A), (2)(B). Pub. L. 102-140 inserted reference
to section 636(m).
1990--Subsec. (b)(1). Pub. L. 101-515 and Pub. L. 101-574 amended
par. (1) identically, substituting ``The President also may appoint a
Deputy Administrator, by and with the advice and consent of the Senate.
The Administrator is authorized to appoint'' for ``The Administrator is
authorized to appoint a Deputy Administrator and''.
1989--Subsec. (b)(1). Pub. L. 101-37 made technical correction to
directory language of Pub. L. 100-656, Sec. 401(a), see 1988 Amendment
note below.
1988--Subsec. (b)(1). Pub. L. 100-656, Sec. 401(a), as amended by
Pub. L. 101-37, inserted ``who shall be an employee in the competitive
service or in the Senior Executive Service and a career appointee''
after ``Capital Ownership Development''.
Subsec. (c)(1)(B), (2)(B). Pub. L. 100-590, Sec. 111(a), substituted
``III, IV'' for ``III''.
1984--Subsec. (b)(3). Pub. L. 98-362, Secs. 3, 7(b), added par. (3)
and provided for future repeal of par. (3). See Effective and
Termination Dates of 1984 Amendment note below.
Subsec. (b)(4). Pub. L. 98-362, Sec. 4, added par. (4).
Subsec. (c)(1)(A). Pub. L. 98-270 inserted reference to section
636(b)(4).
Subsec. (c)(1)(B), (2)(B). Pub. L. 98-352 inserted reference to
section 634(g).
1981--Subsec. (c)(1)(A). Pub. L. 97-35, Sec. 1913(b), substituted
``636(c)(2) of this title'' for ``636(b)(4), 636(b)(5), 636(b)(6),
636(b)(7), 636(b)(8), 636(c)(2), and 636(g) of this title''.
Subsec. (c)(1)(B). Pub. L. 97-35, Sec. 1908, struck out reference to
sections 636(e), 636(h), 636(i), and 636(l).
Subsec. (c)(5)(B)(ii). Pub. L. 97-35, Sec. 1915, substituted ``for
the disaster loan fund after October 1, 1980 or are made from repayments
of principal of loans made from funds appropriated to the disaster loan
fund, or from amounts appropriated to the business loan and investment
fund on or after October 1, 1981 or are made from repayments of
principal of loans made from funds appropriated to the business loan and
investment fund and received on or after October 1, 1981'' for ``after
October 1, 1980 or are made from repayments of principal of loans made
from appropriated funds''.
1980--Subsec. (b). Pub. L. 96-302, Sec. 401, designated existing
provisions as par. (1) and added par. (2).
Subsec. (b)(1). Pub. L. 96-481, which provided for ``striking all
after the phrase `Capital Ownership Development' through the period''
and inserting new text in lieu thereof was executed by striking all
after ``Capital Ownership Development'' through period at end of
sentence and not at end of paragraph which resulted in substituting
provisions that the Associate Administrator for Minority Small Business
and Capital Ownership Development shall be responsible to the
Administrator for the formulation and execution of the policies and
programs under sections 636(j) and 637(a) of this title for provisions,
that such Administrator shall be responsible for the formulation of
policy relating to the Administration's programs which provide
assistance to minority small business concerns and in the review of the
Administration's execution of such programs in light of such policy.
Subsec. (c)(5). Pub. L. 96-302, Sec. 121, inserted provisions other
than subpar. (B)(ii) and incorporated partly in subpar. (A) and in
subpar. (B)(ii) prior par. (5) provisions requiring Administration
payment of interest on outstanding cash disbursements at close of each
fiscal year into the miscellaneous receipts of the Treasury from par.
(1) funds at rates that consider current average yields on outstanding
interest-bearing marketable Federal debt obligations of comparable
maturities as calculated for the September preceding the fiscal year.
1978--Subsec. (b). Pub. L. 95-507 substituted ``Associate
Administrator for Minority Small Business and Capital Ownership
Development'' for ``Associate Administrator for Minority Small
Business''.
Subsec. (c)(1)(B), (2)(B). Pub. L. 95-315 inserted reference to
section 636(l).
1977--Subsec. (c)(1). Pub. L. 95-89, Secs. 101(a), 304, 401(1),
struck out end text from cls. (A) and (B) reading ``, including
administrative expenses in connection with such functions''; inserted in
cl. (A) reference to section 634(e); and inserted in cl. (A) and struck
out from cl. (B) reference to section 636(b)(3).
Subsec. (c)(2). Pub. L. 95-89, Secs. 201, 304, 401(2), inserted in
cl. (A) reference to section 636(g); inserted in cl. (A) reference to
section 634(e); and inserted in cl. (A) and struck out from cl. (B)
reference to section 636(b)(3).
Subsec. (c)(3). Pub. L. 95-89, Sec. 101(b), struck out last sentence
authorization of appropriations of capital for the funds in amounts
necessary to carry out the functions of the Administration to remain
available until expended.
Subsec. (c)(4). Pub. L. 95-89, Secs. 101(c), 202, repealed
provisions of par. (4) which limited the total amount of loans,
guarantees, and other obligations, to be outstanding at any one time:
under sections 636(a), (b)(3), (e), (h), (i) and 637(a) of this title to
$7,400,000,000; under title III of the Small Business Investment Act of
1958 to $887,500,000; under title V of the Small Business Investment Act
of 1958 to $525,000,000; and under section 636(i) of this title to
$525,000,000; redesignated par. (5) as (4) and substituted reference to
submission of reports to the Senate Select Committee on Small Business
and the Committee on Small Business of the House of Representatives for
the prior reference the Committees on Banking and Currency of the Senate
and House of Representatives; substituted reference to transmission of
business-type budgets to the Committees on Appropriations, the Senate
Select Committee on Small Business, and the Committee on Small Business
of the House of Representatives for prior reference to such transmission
to the Congress; and deleted the second sentence providing that if at
the close of the preceding calendar quarter the aggregate amount
outstanding or committed by the Administration in carrying out its
functions under the sections or titles referred to in former par. (4)
exceeded 75 per centum of the total amount authorized to be outstanding
under such sections or titles, the Administration's report shall include
its recommendations for such additional authority as it deems
appropriate.
Pub. L. 95-14 substituted ``$7,400,000,000'' for ``$6,000,000,000'',
``$525,000,000'' for ``$450,000,000'', and ``$887,500,000'' for
``$725,000,000''.
Subsec. (c)(5), (6). Pub. L. 95-89, Sec. 202, redesignated pars. (5)
and (6) as (4) and (5), respectively.
1976--Subsec. (c)(6). Pub. L. 94-273 substituted ``September'' for
``June''.
1974--Subsec. (b). Pub. L. 93-386, Sec. 7, in fourth sentence
increased from three to four the number of Associate Administrators
authorized to be appointed and inserted fifth sentence authorizing one
of the Associate Administrators at the time of appointment to be
designated as Associate Administrator for Minority Small Business. As
enacted section 7 of Pub. L. 93-386 amended the third sentence and
inserted a fourth sentence to subsec. (b), however the amendment was
executed to fourth sentence and the new sentence was inserted as a fifth
sentence editorially since this would appear to be the probable intent
of Congress.
Pub. L. 93-237, Sec. 8, inserted provisions that the Administrator
shall not discriminate on the basis of sex or marital status against any
person or small business concern applying for or receiving assistance
from the Administration and that the Administration shall give special
consideration to veterans of the Armed Forces of the United States and
their survivors or dependents in carrying out the programs administered
by the Administration.
Subsec. (c)(1). Pub. L. 93-386, Sec. 2(a)(2), inserted references to
sections 636(b)(8) and 636(i) and struck out reference to title IV of
the Economic Opportunity Act of 1964.
Pub. L. 93-237, Sec. 3(b), substituted ``636(h)'' for ``636(g)'' in
cl. (B).
Subsec. (c)(2). Pub. L. 93-386, Sec. 2(a)(2), inserted references to
sections 636(b)(8) and 636(i) of this title and struck out reference to
title IV of the Economic Opportunity Act of 1964.
Pub. L. 93-237, Sec. 3(b), substituted ``636(h)'' for ``636(g)'' in
cl. (B).
Subsec. (c)(4). Pub. L. 93-386, Sec. 2(a)(3), in cl. (A) substituted
``636(i), and 637(a) of this title, shall not exceed $6,000,000,000''
for ``and 637(a) of this title, and title IV of the Economic Opportunity
Act of 1964, shall not exceed $4,875,000,000'', in cl. (B) substituted
$725,000,000'' for ``$556,250,000'', and in cl. (D) substituted
``section 636(i) of this title, shall not exceed $450,000,000'' for
``title IV of the Economic Opportunity Act of 1964 shall not exceed
$381,250,000''.
Pub. L. 93-237, Secs. 1, 3(b), substituted ``$4,875,000,000'' for
``$4,300,000,000'' and ``636(h)'' for ``636(g)'' in cl. (A),
``$556,250,000'' for ``$500,000,000'' in cl. (B), ``$525,000,000'' for
``$500,000,000'' in cl. (C) and ``$381,250,000'' for ``$350,000,000'' in
cl. (D).
1972--Subsec. (c)(1). Pub. L. 92-595 inserted reference to section
636(g).
Pub. L. 92-500 made disaster loan fund available for financing
functions performed under section 636(g) of this title.
Pub. L. 92-385, Sec. 2(b)(1), inserted reference to section
636(b)(7).
Subsec. (c)(2). Pub. L. 92-595 inserted reference to section 636(g).
Pub. L. 92-385, Sec. 2(b)(2), inserted reference to sections
636(b)(5), 636(b)(6), 636(b)(7).
Subsec. (c)(4). Pub. L. 92-595 inserted reference to section 636(g).
Pub. L. 92-320 substituted ``$4,300,000,000'', ``$500,000,000'', and
``$350,000,000'' for ``$3,100,000,000'', ``$450,000,000'' and
``$300,000,000'', respectively.
1971--Subsec. (c)(4)(A). Pub. L. 92-16 substituted
``$3,100,000,000'' for ``$2,200,000,000''.
1970--Subsec. (c)(1). Pub. L. 91-597 made disaster loan fund
available for financing requirements imposed by section 636(b)(5) of
this title relating to additions and alterations pursuant to the Egg
Products Inspection Act, etc. See, also, 1969 Amendment note hereunder.
Pub. L. 91-596 made disaster loan fund available for financing
functions under section 636(b)(6) of this title.
Subsec. (c)(4). Pub. L. 91-558 substituted ``$2,200,000,000'' for
``$1,900,000,000'' in cl. (A), ``$500,000,000'' for ``$300,000,000'' in
cl. (C), and ``$300,000,000'' for ``$200,000,000'' in cl. (D).
1969--Subsec. (c)(1). Pub. L. 91-173 made disaster loan fund
available for financing functions under section 636(b)(5) of this title,
relating to loans to coal mine operators.
1968--Subsec. (a). Pub. L. 90-448 inserted ``the Trust Territory of
the Pacific Islands,''.
1967--Subsec. (c)(4). Pub. L. 90-104, Sec. 102(1)-(4), substituted
$1,900,000,000 for $1,400,000,000 in cl. (A), $450,000,000 for
$400,000,000 in cl. (B), $300,000,000 for $200,000,000 in cl. (C), and
$200,000,000 for $100,000,000 in cl. (D).
1966--Subsec. (b). Pub. L. 89-779 substituted ``a Deputy
Administrator and three Associate Administrators (including the
Associate Administrator specified in section 671 of this title)'' for
``three Deputy Administrators'' as the officers to be appointed by the
Administrator to assist in the execution of the functions vested in the
Administration, and inserted provision that the Deputy Administrator
shall be acting Administrator of the Administration during the absence
or disability of the Administrator or in the event of a vacancy in the
office of the Administrator.
Subsec. (c). Pub. L. 89-409, Sec. 1, increased by $125 million the
appropriation authorization for the single SBA fund from $1,841 million
to $1,966 million and the authorization for outstanding loans and
commitments for regular business loans, disaster loans, and prime
contract authority from $1,375 million to $1,500 million.
Pub. L. 89-409, Sec. 2, provided for a disaster loan fund and
business loan and investment fund in place of one prior SBA fund,
incorporated existing provisions in par. (2), provided for allocation of
unexpended balances of appropriations for prior single fund and for an
appropriation authorization in par. (3), removed disaster loans from any
limitation, provided limitations in par. (4) of $1,400 million for
regular business loans, displaced business disaster loans, trade
adjustment loans, prime contract authority, and loans under title IV of
the Economic Opportunity Act of 1964, $400 million for small business
investment companies, $200 million for loans to State and local
development companies, $100 million for loans under title IV of the
Economic Opportunity Act of 1964, incorporated existing reporting
provisions in par. (4), including additional requirement of inclusion of
recommendations whenever 75 percent of any ceiling in outstanding
obligations is exceeded, required establishment of business-type loans,
and incorporated existing provisions in par. (6).
1965--Subsec. (c). Pub. L. 89-334 substituted ``$1,841,000,000'' for
``$1,721,000,000''.
Pub. L. 89-117 substituted ``$1,721,000,000'' for ``$1,716,000,000''
and inserted proviso that the limitation imposed by fifth sentence
concerning the maximum aggregate permitted to be outstanding from the
fund for functions under the Small Business Investment Act of 1958 be
inapplicable to functions under title IV thereof.
Pub. L. 89-78 increased from $341,000,000 to $461,000,000 the limit
on the aggregate permissible amount outstanding from the fund at any
time for the exercise of the functions of the Administration under the
Small Business Investment Act of 1958.
Pub. L. 89-59 inserted references to section 636(c)(2) in first
sentence and in fourth sentence, where first appearing and in cl. (2)
thereof, and increased the authorized appropriations to the revolving
fund from $1,666,000,000 to $1,716,000,000 and the aggregate amount
outstanding at any one time for regular business loans, disaster loans,
and prime contract authority from $1,325,000,000 to $1,375,000,000.
1962--Subsec. (c). Pub. L. 87-550 increased the authorized
appropriations to the revolving fund from $1,200,000,000 to
$1,666,000,000, and the aggregate amount outstanding for purposes of
sections 636(a), 636(b), and 637(a) of this title from $875,000,000 to
$1,325,000,000, and for functions under the Small Business Investment
Act of 1958 from $325,000,000 to $341,000,000 directed that
appropriations to the revolving fund shall remain available until
expended, required all repayments of loans and debentures, payments of
interest, and other receipts arising out of transactions financed from
the fund to be paid into the fund, and a report to Congressional
committees whenever the aggregate amount outstanding for the purposes of
sections 636(a) and 637(a) of this title exceeds $1,222,000,000, or for
the purpose of section 636(b) of this title exceeds $103,000,000,
changed the method of computing interest paid into miscellaneous
receipts by substituting provisions requiring payment, following the
close of each fiscal year, of interest on the outstanding cash
disbursements from the fund, at rates determined by the Secretary of the
Treasury, taking into consideration the current average yields on
outstanding interest-bearing marketable public debt obligations of the
United States of comparable maturities as calculated for the month of
June preceding such fiscal year, for provisions which required payment
of interest, at the close of each fiscal year, on the net amount of cash
disbursements from advances at a rate determined by the Secretary of the
Treasury, taking into consideration the current average rate on
outstanding interest-bearing marketable public debt obligations of the
United States of comparable maturities, and eliminated provisions which
authorized advances from the revolving fund when requested by the
Administration.
1961--Subsec. (c). Pub. L. 87-341, among other changes, substituted
``$1,200,000,000'' for ``$1,125,000,000'' wherever appearing, and
``$325,000,000'' for ``$250,000,000''.
Pub. L. 87-305 substituted ``$1,125,000,000'' for ``$1,020,000,000''
wherever appearing, and ``$725,000,000'' for ``$595,000,000''.
Pub. L. 87-198 substituted ``$1,020,000,000'' for ``$1,000,000,000''
wherever appearing, and ``$595,000,000'' for ``$575,000,000''.
Pub. L. 87-70 substituted ``$1,000,000,000'' for ``$975,000,000''
wherever appearing, and ``$150,000,000'' for ``$125,000,000''.
1959--Subsec. (c). Pub. L. 86-367 substituted ``$975,000,000'' for
``$900,000,000'' wherever appearing, and ``$575,000,000'' for
``$500,000,000''.
1958--Subsec. (c). Pub. L. 85-699 substituted ``$900,000,000'' for
``$650,000,000'' wherever appearing, and inserted provisions authorizing
the revolving fund to be used in the exercise of the functions of the
Administration under the Small Business Investment Act of 1958, and
providing that not more than an aggregate of $250,000,000 shall be
outstanding at any one time for the exercise of the functions under the
Small Business Investment Act of 1958.
Effective Date of 1996 Amendment
Section 3 of div. D of Pub. L. 104-208 provided that: ``Except as
otherwise expressly provided, this Act [probably should be ``division'',
see Short Title of 1996 Amendment note set out under section 631 of this
title] and the amendments made by this Act shall take effect on October
1, 1996.''
Effective Date of 1990 Amendments
Section 221(b) of Pub. L. 101-574 provided that: ``The amendments
made by subsection (a) [amending this section] shall apply to any
vacancy in the position of Deputy Administrator of the Small Business
Administration after the date of the enactment of this Act [Nov. 15,
1990].''
Section 1(b) of Pub. L. 101-515 provided that: ``The provisions of
subsection (a) of this section [amending this section] shall apply to
any vacancy in the position of Deputy Administrator of the Small
Business Administration after the effective date of this Act [Nov. 5,
1990].''
Effective Date of 1989 Amendment
Amendment by Pub. L. 101-37 applicable as if included in Pub. L.
100-656, see section 32 of Pub. L. 101-37, set out as a note under
section 631 of this title.
Effective Date of 1988 Amendment
Amendment by Pub. L. 100-656 effective Aug. 15, 1989, see section
803(b)(1)(C) of Pub. L. 100-656, as amended, set out as a note under
section 631 of this title.
Effective and Termination Dates of 1984 Amendments
Section 7 of Pub. L. 98-362, as amended by Pub. L. 100-590, title I,
Sec. 131(a), Nov. 3, 1988, 102 Stat. 3004; Pub. L. 101-515, title V,
Sec. 11, Nov. 5, 1990, 104 Stat. 2145; Pub. L. 101-574, title II,
Sec. 212, Nov. 15, 1990, 104 Stat. 2821; Pub. L. 102-140, title VI,
Sec. 609(g), Oct. 28, 1991, 105 Stat. 826; Pub. L. 102-366, title II,
Sec. 225, Sept. 4, 1992, 106 Stat. 1001; Pub. L. 103-403, title IV,
Sec. 401(b), Oct. 22, 1994, 108 Stat. 4190, provided that:
``(a) This Act [amending this section and sections 632 and 637 of
this title and enacting provisions set out as notes under this section
and sections 631 and 637 of this title] shall take effect on October 1,
1984.
``(b) The amendments made to section 4(b)(3) of the Small Business
Act [15 U.S.C. 633(b)(3)] by section 3 of this Act are repealed on
October 1, 1988. The amendments made to section 8(b)(1)(A) of the Small
Business Act [15 U.S.C. 637(b)(1)(A)] by section 5(a)(2) of this Act are
repealed on October 1, 1994. Nothing in this section shall preclude the
Administrator from continuing such committee under the authority of
section 8(b)(3) of the Small Business Act and the Federal Advisory
Committee Act [5 U.S.C. App.].''
[Section 401(b) of Pub. L. 103-403, which directed that section 7(b)
of Pub. L. 98-362, set out above, be amended in the second sentence by
striking out ``and the amendments made to section 8(b)(1)(A) of the
Small Business Act by section 5(a)(2) of this Act are'' and inserting
``is'', could not be executed, because the language sought to be struck
out begins with ``The amendments'' and not ``and the amendments'', and
because the amendment would result in an incomplete sentence.]
Amendment by Pub. L. 98-270 effective Oct. 1, 1983, see section 313
of Pub. L. 98-270, set out as an Effective Date of 1984 Amendments note
under section 632 of this title.
Effective Date of 1981 Amendment
Amendment by sections 1908 and 1913(b) of Pub. L. 97-35 effective
Oct. 1, 1981, and amendment by section 1915 of Pub. L. 97-35 effective
Aug. 13, 1981, but not to affect any financing made, obligated, or
committed under this chapter or chapter 14B of this title prior to Aug.
13, 1981, see section 1918 of Pub. L. 97-35, set out as a note under
section 631 of this title.
Effective Date of 1980 Amendment
Amendment by Pub. L. 96-302 effective Oct. 1, 1980, see section 507
of Pub. L. 96-302, set out as a note under section 631 of this title.
Effective Date of 1977 Amendment
Section 106 of Pub. L. 95-89 provided that: ``This title [amending
this section, sections 636, 694, 694-2, and 694c of this title, and
provisions set out as a note under section 631 of this title] shall
become effective on October 1, 1977.''
Effective Date of 1970 Amendments
For effective date of amendment by Pub. L. 91-597, see section 29 of
Pub. L. 91-597, set out as a note under section 1031 of Title 21, Food
and Drugs.
Amendment by Pub. L. 91-596 effective 120 days after Dec. 29, 1970,
see section 34 of Pub. L. 91-596, set out as a note under section 651 of
Title 29, Labor.
Effective Date of 1966 Amendment
Section 2 of Pub. L. 89-408 provided that the amendment made by that
section is effective July 1, 1966.
Termination of Trust Territory of the Pacific Islands
For termination of Trust Territory of the Pacific Islands, see note
set out preceding section 1681 of Title 48, Territories and Insular
Possessions.
Transfer of Functions
Functions, powers, and duties of Office of Audits and Investigations
in Small Business Administration transferred to Office of Inspector
General in Small Business Administration, as established by Pub. L. 95-
452, Sec. 2, Oct. 12, 1978, 92 Stat. 1101, set out in the Appendix to
Title 5, Government Organization and Employees. See section 9(a)(1)(M)
of Pub. L. 95-452 set out in the Appendix to Title 5.
Loan Policy Board, provided for in subsec. (d) of this section,
abolished and functions, including functions of chairman and other
officers, transferred to Administrator of Small Business Administration
by sections 11(b) and 13(a) of Reorg. Plan No. 4 of 1965, eff. July 27,
1965, 30 F.R. 9353, 79 Stat. 1321, set out in the Appendix to Title 5.
Administrator's Order
Pub. L. 106-50, title VII, Sec. 701, Aug. 17, 1999, 113 Stat. 249,
provided that: ``The Administrator of the Small Business Administration
shall strengthen and reissue the Administrator's order regarding the
third sentence of section 4(b)(1) of the Small Business Act (15 U.S.C.
633(b)(1)), relating to nondiscrimination and special considerations for
veterans, and take all necessary steps to ensure that its provisions are
fully and vigorously implemented.''
Completion of Planning for Loan Monitoring System
Pub. L. 105-135, title II, Sec. 233, Dec. 2, 1997, 111 Stat. 2607,
provided that:
``(a) In General.--The Administrator shall perform and complete the
planning needed to serve as the basis for funding the development and
implementation of the computerized loan monitoring system, including--
``(1) fully defining the system requirement using on-line,
automated capabilities to the extent feasible;
``(2) identifying all data inputs and outputs necessary for
timely report generation;
``(3) benchmark loan monitoring business processes and systems
against comparable industry processes and, if appropriate, simplify
or redefine work processes based on these benchmarks;
``(4) determine data quality standards and control systems for
ensuring information accuracy;
``(5) identify an acquisition strategy and work increments to
completion;
``(6) analyze the benefits and costs of alternatives and use to
demonstrate the advantage of the final project;
``(7) ensure that the proposed information system is consistent
with the agency's information architecture; and
``(8) estimate the cost to system completion, identifying the
essential cost element.
``(b) Report.--
``(1) In general.--On the date that is 6 months after the date
of enactment of this Act [Dec. 2, 1997], the Administrator shall
submit a report on the progress of the Administrator in carrying out
subsection (a) to--
``(A) the Committees; and
``(B) the Comptroller General of the United States.
``(2) Evaluation.--Not later than 28 days after receipt of the
report under paragraph (1)(B), the Comptroller General of the United
States shall--
``(A) prepare a written evaluation of the report for
compliance with subsection (a); and
``(B) submit the evaluation to the Committees.
``(3) Limitation.--None of the funds provided for the purchase
of the loan monitoring system may be obligated or expended until 45
days after the date on which the Committees and the Comptroller
General of the United States receive the report under paragraph
(1).''
Associate Administrator for Minority Small Business and Capital
Ownership Development
Section 401(b) of Pub. L. 100-656, as amended by Pub. L. 101-37,
Sec. 11(b), June 15, 1989, 103 Stat. 73, provided that: ``The position
of Associate Administrator for Minority Small Business and Capital
Ownership Development referred to in paragraph (1) of section 4(b) of
the Small Business Act [15 U.S.C. 633(b)(1)] shall be a career reserved
position.''
Availability of Funds
Pub. L. 100-71, title I, July 11, 1987, 101 Stat. 396, provided in
part that: ``hereafter, notwithstanding any law, rule or regulation,
moneys in any fund established by the Small Business Act [15 U.S.C. 631
et seq.] which are not needed for current operations shall remain in
such funds and shall be available solely to carry out the provisions and
purposes of programs operated from such funds pursuant to law as
provided in appropriations Acts.''
Finding and Purpose of 1984 Amendment
Section 2 of Pub. L. 98-362 provided that:
``(a) The Congress hereby finds that--
``(1) there is increased dependency on, and proliferation of,
information technology (including computers, data networks, and
other communication devices) in the small business community;
``(2) such technology has permitted an increase in criminal
activity against small business;
``(3) small businesses in particular frequently lack the
education and awareness of computer security techniques and
technologies which would enable them to protect their computer
systems from unauthorized access and the manipulation or destruction
of their computer hardware, software, and stored data;
``(4) profitmaking organizations have substantial expertise in
computer technology, communications, and management assistance that
is not otherwise available; and
``(5) the use of this expertise in the Small Business
Administration's training delivery system would improve
substantially the quantity and quality of the agency's management
assistance programs.
``(b) The purposes of this Act [amending this section and sections
632 and 637 of this title and enacting provisions set out as notes under
this section and sections 631 and 637 of this title] are--
``(1) to improve the management by small businesses of their
information technology,
``(2) to educate and encourage small businesses to protect such
technology from intentional or unintentional manipulation or
destruction; and
``(3) to permit cooperation with profitmaking organizations in
providing management assistance to small business.''
Audit by General Accounting Office of Small Business Administration;
Report to Congress
Section 13 of Pub. L. 93-386 directed General Accounting Office to
conduct a full-scale audit of Small Business Administration, including
all field offices and to submit audit to House and Senate not later than
six months from Aug. 23, 1974.
Nonavailability of Unobligated Funds After June 30, 1974
Section 1 of Pub. L. 93-237 provided in part that any additional
amounts authorized by Pub. L. 93-237 [amending this section, sections
636 and 639 of this title, section 1961 of Title 7, Agriculture, and
section 3142-1 of Title 42, The Public Health and Welfare, and enacting
provisions set out as notes under this section, section 636 of this
title, and sections 1961 and 1969 of Title 7] which were not obligated
by June 30, 1974, were no longer to be available after that date.
Additional Capital for Revolving Fund
The following acts appropriated additional capital:
1965--$76,000,000--Pub. L. 89-309, ch. IX, Oct. 31, 1965, 79 Stat.
1151.
$84,000,000--Pub. L. 89-309, ch. IX, Oct. 31, 1965, 79 Stat. 1151
[effective only upon enactment into law of authorizing legislation].
$150,000,000--Pub. L. 89-164, title V, Sept. 2, 1965, 79 Stat. 641.
$100,000,000--Pub. L. 89-16, title I, ch. IX, Apr. 30, 1965, 79
Stat. 92.
1964--$45,000,000--Pub. L. 88-635, ch. IX, Oct. 7, 1964, 78 Stat.
1032.
1963--$90,000,000--Pub. L. 88-245, title V, Dec. 30, 1963, 77 Stat.
798.
1962--$300,000,000--Pub. L. 87-843, title V, Oct. 18, 1962, 76 Stat.
1102.
$40,000,000--Pub. L. 87-545, title I, July 25, 1962, 76 Stat. 213.
1961--$160,000,000--Pub. L. 87-332, Sept. 30, 1961, 75 Stat. 742.
$20,000,000--Pub. L. 87-125, title IV, Aug. 3, 1961, 75 Stat. 281.
1960--$50,000,000--Pub. L. 86-451, title III, May 13, 1960, 74 Stat.
102.
1959--$150,000,000--Pub. L. 86-88, title III, July 13, 1959, 73
Stat. 209.
1958--$200,000,000--Pub. L. 85-766, ch. II, Aug. 27, 1958, 72 Stat.
867.
$20,000,000--Pub. L. 85-457, June 13, 1958, 72 Stat. 186.
1957--$100,000,000--Pub. L. 85-170, ch. II, Aug. 28, 1957, 71 Stat.
428.
$45,000,000--Pub. L. 85-19, ch. I, Apr. 20, 1957, 71 Stat. 16.
1956--$50,000,000--Act June 20, 1956, ch. 415, title III, 70 Stat.
325.
Business Loan and Investment Fund; Increase in Financing Functions;
Monthly Reports to Congress
Pub. L. 91-151, title III, Dec. 23, 1969, 83 Stat. 378, provided
that: ``The Small Business Administration shall promptly increase the
level of its financing functions utilizing the business loan and
investment fund established under section 4(c)(1)(B) of the Small
Business Act (15 U.S.C. 633(c)(1)(B)) [subsec. (c)(1)(B) of this
section] by $70,000,000 above the level prevailing at the time of
enactment of this Act [Dec. 23, 1969]. The Small Business Administration
shall submit to Congress a monthly report of its implementation of this
section.''
Transfer of Funds for Trade Adjustment Loans
Section 3(b) of Pub. L. 89-409 provided in part that any unexpended
balances of appropriations heretofore appropriated for the purposes of
such section [former section 637a of this title] were transferred to the
business loan and investment fund established by section 4(c)(1) of the
Small Business Act [subsec. (c)(1) of this section].
Such transfer of funds as effective July 1, 1966, see section 3(c)
of Pub. L. 89-409, set out as Effective Date of 1966 Amendment note
under section 636 of this title.
Section Referred to in Other Sections
This section is referred to in sections 635, 636, 657b of this
title; title 38 section 3117.
