Page:United States Statutes at Large Volume 110 Part 4.djvu/903

 PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009-740 "(I) funds invested by an employee welfare benefit plan or pension plan; and "(11) any qualified nonprivate funds (if the investors of the qualified nonprivate funds do not control, directly or indirectly, the management, board of directors, general partners, or members of the licensee);". (3) NEW DEFINITIONS.— Section 103 (15 U.S.C. 662) is amended by striking paragraph (10) and inserting the following: "(10) the term 'leverage' includes— "(A) debentures purchased or guaranteed by the Administration; "(B) participating securities purchased or guaranteed by the Administration; and "(C) preferred securities outstanding as of October 1, 1995; "(11) the term 'third party debt' means any indebtedness for borrowed money, other than indebtedness owed to the Administration; "(12) the term 'smaller enterprise' means any small business concern that, together with its affiliates— " (A) has— "(i) a net financial worth of not more than $6,000,000, as of the date on which assistance is provided under this Act to that business concern; and "(ii) an average net income for the 2-year period preceding the date on which assistance is provided under this Act to that business concern, of not more than $2,000,000, after Federal income taxes (excluding any carryover losses); or "(B) satisfies the standard industrial classification size standards established by the Administration for the industry in which the small business concern is primarily engaged; "(13) the term 'qualified nonprivate funds' means any— "(A) funds directly or indirectly invested in any applicant or licensee on or before August 16, 1982, by any Federal agency, other than the Administration, under a provision of law explicitly mandating the inclusion of those funds in the definition of the term 'private capital'; "(B) funds directly or indirectly invested in any applicant or licensee by any Federal agency under a provision of law enacted after September 4, 1992, explicitly mandating the inclusion of those funds in the definition of the term 'private capital'; and "(C) funds invested in any applicant or licensee by one or more State or local government entities (including any guarantee extended by those entities) in an aggregate amount that does not exceed 33 percent of the private capital of the applicant or licensee; "(14) the terms 'employee welfare benefit plan' and 'pension plan' have the same meanings as in section 3 of the Employee Retirement Income Security Act of 1974, and are intended to include— "(A) public and private pension or retirement plans subject to such Act; and

�