NEW MARKETS VENTURE CAPITAL COMPANY INVESTMENT LIMITATIONS.

SEC. 1115. NEW MARKETS VENTURE CAPITAL COMPANY INVESTMENT LIMITATIONS. Section 355 of the Small Business Investment Act of 1958 (15 U.S.C. 689d) is amended by adding at the end the following: “(e) Investment Limitations. “(1) Definition. In this subsection, the term ‘covered New Markets Venture Capital company’ means a New Markets Venture Capital company— “(A) granted final approval by the Administrator under section 354(e) on or after March 1, 2002; and “(B) that has obtained a financing from the Administrator. “(2) Limitation. Except to the extent approved by the Administrator, a covered New Markets Venture Capital company may not acquire or issue commitments for securities under this title for any single enterprise in an aggregate amount equal to more than 10 percent of the sum of— “(A) the regulatory capital of the covered New Markets Venture Capital company; and “(B) the total amount of leverage projected in the participation agreement of the covered New Markets Venture Capital.” .