INVESTMENT OF EXCESS FUNDS.

SEC. 202. INVESTMENT OF EXCESS FUNDS. Section 308(b) of the Small Business Investment Act (15 U.S.C. 687(b)) is amended by striking the last sentence and inserting the following: “Any such company that is licensed before October 1, 2004 and has outstanding financings is authorized to invest funds not needed for its operations—“(1) in direct obligations of, or obligations guaranteed as to principal and interest by, the United States;“(2) in certificates of deposit or other accounts of federally insured banks or other federally insured depository institutions, if the certificates or other accounts mature or are otherwise fully available not more than 1 year after the date of the investment; or“(3) in mutual funds, securities, or other instruments that consist of, or represent pooled assets of, investments described in paragraphs (1) or (2).”.