Page:United States Statutes at Large Volume 108 Part 5.djvu/697

 PUBLIC LAW 103-403—OCT. 22, 1994 108 STAT. 4187 "(4) is violating any other applicable provision of law. "(g) EFFECT OF SUSPENSION OR DESIGNATION. —A suspension or revocation under subsection (f) shall not affect any outstanding debenture guarantee. "(h) REGULATIONS.— Not later than 180 days after the date of enactment of this section, the Administration shall promulgate regulations to carry out this section. "(i) REPORT.— Not later than 1 year after the date of enactment of this Act, and annually thereafter, the Administration shall report to the Committees on Small Business of the Senate and the House of Representatives on the implementation of this section. Each report shall include— "(1) the number of certified development companies designated as premier certified lenders; "(2) the debenture guarantee volume of such companies; "(3) a comparison of the loss rate for premier certified lenders to the loss rate for accredited and other lenders; and "(4) such other information as the Administration deems appropriate.". (b) REPEAL.— Effective on October 1, 1997, section 508 of the Effective date. Small Business Investment Act of 1958, as added by subsection l5 USC 697e. (a), is repealed. TITLE III—SIZE STANDARDS AND BOND GUARANTEES SEC. 301. ESTABLISHMENT OF SIZE STANDARDS. Section 3(a)(2) of the Small Business Act (15 U.S.C. 632(a)(2)) is amended to read as follows: "(2) ESTABLISHMENT OF SIZE STANDARDS. — "(A) IN GENERAL.—In addition to the criteria specified in paragraph (1), the Administrator may specify detailed definitions or standards by which a business concern may be determined to be a small business concern for the purposes of this Act or any other Act. "(B) ADDITIONAL CRITERIA.—The standards described in paragraph (1) may utilize number of employees, dollar volume of business, net worth, net income, a combination thereof, or other appropriate factors. "(C) REQUIREMENTS. —Unless specifically authorized by statute, no Federal department or agency may prescribe a size standard for categorizing a business concern as a small business concern, unless such proposed size standard— "(i) is proposed after an opportunity for public notice and comment; "(ii) provides for determining— '(I) the size of a manufacturing concern as measured by the manufacturing concern's average employment based upon employment during each of the manufacturing concern's pay periods for the preceding 12 months; "(II) the size of a business concern providing services on the basis of the annual average gross receipts of the business concern over a period of not less than 3 years;

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