Page:United States Statutes at Large Volume 100 Part 1.djvu/406

 100 STAT. 370

15 USC 661 note.

PUBLIC LAW 99-272—APR. 7, 1986 guarantee loans, debentures, payment of rentals, or other amounts due under qualified contracts and other types of financial assistance and enter into commitments to purchase debentures and preferred securities and to guarantee sureties against loss pursuant to programs under this Act and the Small Business Investment Act of 1958, in the full amounts provided by law subject only to (A) the availability of qualified applications, and (B) limitations contained in appropriations Acts. Nothing in this paragraph authorizes the Administration to reduce or limit its authority to enter into such commitments.".

SEC. 18013. BUSINESS LENDING REFORMS.

15 USC 636.

Section 7(a)(2) of the Small Business Act is amended— (1) by striking out "$100,000" both places it appears and inserting in lieu thereof "$155,000"; (2) by striking out "90" in subparagraph (B) and inserting in lieu thereof "85^'; (3) by striking out "90" in the proviso and inserting in lieu thereof "85"; and (4) by inserting before the period the following: ": Provided, further. That the Administration may reduce its participation below the per centums stated in this paragraph if the lender requests the reduction under the preferred lenders program or any successor thereto. As used in this sentence the term 'preferred lenders program' means a program under which, pursuant to a written agreement between the lender and the Administration, the lender has been delegated (1) complete authority to make and close loans with a guarantee from the Administration without obtaining the prior specific approval of the Administration, and (2) authority to service and liquidate such loans". SEC. 18014. SURETY GUARANTEES.

15 USC 694b.

Section 411 of the Small Business Investment Act of 1958 is amended— (1) in subsection (a) by striking out "$1,000,000" and inserting in lieu thereof "$1,250,000"; and (2) in subsection (e)(2) by striking out "$1,000,000" and inserting in lieu thereof "$1,250,000". SEC. 18015. ELIGIBILITY OF SMALL BUSINESS OWNED BY INDIAN TRIBES.

(a) CONSIDERATION OF INDIAN TRIBES.—Section 2(e)(1)(C) of the Small Business Act (15 U.S.C. 631(e)(2)(C)) is amended by inserting "Indian tribes," after "Native Americans,". (b) CLARIFICATION OF DEFINITION OF "SOCIALLY AND ECONOMICALLY DISADVANTAGED SMALL BUSINESS CONCERN".—Paragraph (4) of sec-

tion 8(a) of such Act (15 U.S.C. 637(a)(4)) is amended to read as follows: "(4)(A) For purposes of this section, the term 'socially and economically disadvantaged small business concern' means any small business concern which meets the requirements of subparagraph (B) and— ^ "(i) which is at least 51 per centum owned by— "(I) one or more socially and economically disadvantaged individjuals, or "(II) an economically disadvantaged Indian tribe, or

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