JOB REQUIREMENTS.

SEC. 105. JOB REQUIREMENTS. Section 501 of the Small Business Investment Act of 1958 (15 U.S.C. 695) is amended by adding at the end the following:“(e)(1) A project meets the objective set forth in subsection (d)(1) if the project creates or retains one job for every $50,000 guaranteed by the Administration, except that the amount is $100,000 in the case of a project of a small manufacturer.118 STAT. 3445“(2) Paragraph (1) does not apply to a project for which eligibility is based on the objectives set forth in paragraph (2) or (3) of subsection (d), if the development company’s portfolio of outstanding debentures creates or retains one job for every $50,000 guaranteed by the Administration.“(3) For projects in Alaska, Hawaii, State-designated enterprise zones, empowerment zones and enterprise communities, labor surplus areas, as determined by the Secretary of Labor, and for other areas designated by the Administrator, the development company’s portfolio may average not more than $75,000 per job created or retained.“(4) Loans for projects of small manufacturers shall be excluded from calculations under paragraph (2) or (3).“(5) Under regulations prescribed by the Administrator, the Administrator may waive, on a case-by-case basis or by regulation, any requirement of this subsection (other than paragraph (4)). With respect to any waiver the Administrator is prohibited from adopting a dollar amount that is lower than the amounts set forth in paragraphs (1), (2), and (3).“(6) As used in this subsection, the term ‘small manufacturer’ means a small business concern—“(A) the primary business of which is classified in sector 31, 32, or 33 of the North American Industrial Classification System; and“(B) all of the production facilities of which are located in the United States.”.