Pub. L. 100-590, tit. I, sec. 111

AMENDMENTS RELATING TO REVOLVING FUNDS.

EnactedYear: 1988Length: 302 wordsOfficial source
SEC. 111. AMENDMENTS RELATING TO REVOLVING FUNDS. (a) Technical Amendment.— Section 4(c) of the Small Business Act (15 U.S.C. 633(c)) is amended— (1) by striking from paragraph (1) “III” and inserting in lieu thereof “III, IV”; and (2) by striking from paragraph (2) “III” and inserting in lieu thereof “III, IV”; and (b) Repealer.— Section 403 of the Small Business Investment Act of 1958 (15 U.S.C. 694) is hereby repealed. Any moneys remaining in the Lease Guarantee Fund on the date of enactment of this Act shall be transferred to the Small Business Administration’s business loan and investment fund. (c) Pollution Control Guaranteed Loans.— Section 7(a)912) of the Small Business Act (15 U.S.C. 636(a)(12)) is amended— (1) by inserting “(A)” after “(12)”; and (2) by adding at the end thereof the following new subparagraph: “(b) The Administration may provide deferred participation loans under this subsection to finance the planning, design, or installation of pollution control facilities for the purposes set forth in section 404 of the Small Business Investment Act of 1958. Notwithstanding the limitation expressed in paragraph (3) of this subsection, a loan made under this paragraph may not result in a total amount outstanding and committed to a borrower from the business loan and investment fund of more than $1,000,000.”. (d) Technical Amendments to Section 505.— (1) Section 505 of the Small Business Investment Act of 1958 is amended by striking from subsection (a) “all of a” and by inserting in lieu thereof “all or a”. (2) Such section is further amended by inserting the following title at the beginning of such section: 102 STAT. 2996 “pooling of debentures”. (3) The table of contents for title V of such Act is amended by adding after the item relating to section 504 the following new item: “Sec. 505. Pooling of debentures.”.
Pub. L. 100-590, tit. I, sec. 111: AMENDMENTS RELATING TO REVOLVING FUNDS. | Justis AI