< Back to H.R. 4026 (103rd Congress, 1993–1994)

Text of the Small Business Defense Conversion Loan Guarantee Act of 1994

This bill was introduced on March 11, 1994, in a previous session of Congress, but was not enacted. The text of the bill below is as of Mar 11, 1994 (Introduced).

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Source: GPO

HR 4026 IH

103d CONGRESS

2d Session

H. R. 4026

To amend the Small Business Act to authorize appropriations for deferred participation loans to small business concerns detrimentally affected by defense reductions, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

March 11, 1994

Mr. DIXON introduced the following bill; which was referred to the Committee on Small Business


A BILL

To amend the Small Business Act to authorize appropriations for deferred participation loans to small business concerns detrimentally affected by defense reductions, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ‘Small Business Defense Conversion Loan Guarantee Act of 1994’.

SEC. 2. LOANS FOR SMALL BUSINESS CONCERNS DETRIMENTALLY AFFECTED BY DEFENSE REDUCTIONS.

    (a) PARTICIPATION BY SBA- Section 7(a)(21)(A) of the Small Business Act (15 U.S.C. 636(a)(21)(A)) is amended by inserting ‘on a deferred (guaranteed) basis’ after ‘loans’.

    (b) ELIGIBILITY REQUIREMENTS- Section 7(a)(21)(A)(i) of such Act is amended--

      (1) in subclause (I) by striking ‘; or’ and inserting a semicolon; and

      (2) by adding after subclause (II) the following:

        ‘(III) a substantial reduction in the revenues of the small business concern due to an overall reduction in economic activity within the community from which such small business concern derives revenues, if such reduction in economic activity is a direct result of the factors described in subclause (I) or (II); or’.

SEC. 3. AUTHORIZATION OF APPROPRIATIONS.

    (a) TECHNICAL CORRECTION- Section 20 of the Small Business Act (15 U.S.C. 631 note) is amended by redesignating subsection (k), as added by section 115(a) of the Small Business Credit and Business Opportunity Enhancement Act of 1992, as subsection (q).

    (b) FISCAL YEAR 1995- Section 20(k) of such Act is amended by adding at the end the following:

      ‘(2) For the program authorized by section 7(a)(21), the Administration is authorized to make not more than $4,000,000,000 in deferred participation loans.’.

    (c) FISCAL YEAR 1996- Section 20(m) of such Act is amended by adding at the end the following:

      ‘(2) For the program authorized by section 7(a)(21), the Administration is authorized to make not more than $4,000,000,000 in deferred participation loans.’.