Page:United States Statutes at Large Volume 121.djvu/1794

 PUBLIC LAW 110–140—DEC. 19, 2007

121 STAT. 1773

(2) in clause (iii) by striking the period at the end and inserting a semicolon; and (3) by adding at the end the following: ‘‘(iv) $4,000,000 for each project that reduces the borrower’s energy consumption by at least 10 percent; and ‘‘(v) $4,000,000 for each project that generates renewable energy or renewable fuels, such as biodiesel or ethanol production.’’. 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.’’. SEC. 1206. INVESTMENTS IN ENERGY SAVING SMALL BUSINESSES.

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(a) MAXIMUM LEVERAGE.—Section 303(b)(2) of the Small Business Investment Act of 1958 (15 U.S.C. 303(b)(2)) is amended by adding at the end the following: ‘‘(D) INVESTMENTS IN ENERGY SAVING SMALL BUSINESSES.— ‘‘(i) IN GENERAL.—Subject to clause (ii), in calculating the outstanding leverage of a company for purposes of subparagraph (A), the Administrator shall exclude the amount of the cost basis of any Energy Saving qualified investment in a smaller enterprise made in the first fiscal year after the date of enactment of this subparagraph or any fiscal year thereafter by a company licensed in the applicable fiscal year. ‘‘(ii) LIMITATIONS.—

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