ENERGY SAVING DEBENTURES.

SEC. 1205. ENERGY SAVING DEBENTURES.(a) In General.—Section 303 of the Small Business Investment Act of 1958 (15 U.S.C. 683) is amended by adding at the end the following:“(k) Energy Saving Debentures.—In addition to any other authority under this Act, a small business investment company licensed in the first fiscal year after the date of enactment of this subsection or any fiscal year thereafter may issue Energy Saving debentures.”.(b) Definitions.—Section 103 of the Small Business Investment Act of 1958 (15 U.S.C. 662) is amended—(1) in paragraph (16), by striking “and” at the end;(2) in paragraph (17), by striking the period at the end and inserting a semicolon; and(3) by adding at the end the following:“(18) the term ‘Energy Saving debenture’ means a deferred interest debenture that—“(A) is issued at a discount;“(B) has a 5-year maturity or a 10-year maturity;“(C) requires no interest payment or annual charge for the first 5 years;“(D) is restricted to Energy Saving qualified investments; and“(E) is issued at no cost (as defined in section 502 of the Credit Reform Act of 1990) with respect to purchasing and guaranteeing the debenture; and“(19) the term ‘Energy Saving qualified investment’ means investment in a small business concern that is primarily engaged in researching, manufacturing, developing, or providing products, goods, or services that reduce the use or consumption of non-renewable energy resources.”.