Page:United States Statutes at Large Volume 123.djvu/176

 123STA T . 1 56PUBLIC LA W 111 – 5 —FE B.1 7, 2 0 0 9‘ ‘ (vi)thebor ro w erh as bee ncu rrent on a l l p a y-m ents d ueonthee x istin g debt f or not less than 1 year preceding the date of refinancing and ‘‘(vii) the financing under section 504 will provide better terms or rate of interest than the existing indebtedness at the time of refinancing .’ ’. (b) JOBCREATI O NG OA LS . —S ection 501(e)(1) and section 501(e)( 2 ) of the Small B usiness I nvestment A ct (15 U .S.C. 69 5) are each amended by stri k ing ‘‘ $ 50, 000’’ and inserting ‘‘$65,000’’. SE C . 505. INCREASIN G S M ALL B U SINESS IN V ESTMENT. (a) SIM- P LI F IE DM A X IMUM L EVERAGE LIMITS.—Section 3 03(b) of the Small Business Investment Act of 195 8 (15 U.S.C. 683(b)) is amended as follows (1) By striking so much of paragraph (2) as precedes sub- paragraphs (C) and ( D ) and inserting the following: ‘‘(2) MAXIMUM LEVERAGE.— ‘‘(A) IN GENERAL.— T he maximum amount of out- standing leverage made available to any one company licensed under section 301(c) of this Act may not exceed the lesser of— ‘‘(i) 300 percent of such company’s private capital; or ‘‘(ii) $150,000,000. ‘‘(B) MULTIPLE LICENSES UNDER COMMON CONTROL.— The maximum amount of outstanding leverage made avail- able to two or more companies licensed under section 301(c) of this Act that are commonly controlled (as determined by the Administrator) and not under capital impairment may not exceed $225,000,000.’’; (2) By amending paragraph (2)(C) by inserting ‘‘(i)’’ before ‘‘In calculating’’ and adding the following at the end thereof: ‘‘(ii) The maximum amount of outstanding leverage made available to— ‘‘(I) any 1 company described in clause (iii) may not exceed the lesser of 300 percent of private capital of the company, or $1 7 5,000,000; and ‘‘(II) 2 or more companies described in clause (iii) that are under common control (as determined by the Administrator) may not exceed $250,000,000. ‘‘(iii) A company described in this clause is a com- pany licensed under section 301(c) in the first fiscal year after the date of enactment of this clause or any fiscal year thereafter that certifies in writing that not less than 50 percent of the dollar amount of invest- ments of that company shall be made in companies that are located in a low-income geographic area (as that term is defined in section 351).’’. (3) By striking paragraph (4). (b) SIMPLIFIED AGGREGATE INVESTMENT LIMITATIONS.—Section 306(a) of the Small Business Investment Act of 1958 (15 U.S.C. 686(a)) is amended to read as follows: ‘‘(a) P ERCENTAGE LIMITATION ON PRIVATE CAPITAL.—If any small business investment company has obtained financing from the Administrator and such financing remains outstanding, the aggregate amount of securities ac q uired and for which commitments may be issued by such company under the provisions of this title