To make corrections to the Small Business Investment Act of 1958, and for other purposes.
Revises the subsidy fee charged in connection with debentures purchased by the Small Business Administration (SBA) to guarantee loans to participating small businesses from a flat one percent to a charge, established annually by the SBA Administrator with respect to debentures issued after September 30, 2000, of not more than one percent as necessary to reduce to zero the cost of purchasing and guaranteeing such debentures. Makes an identical revision with respect to the fee charged for securities issued after September 30, 2000, by participating companies for small business loans guaranteed by the SBA.
Authorizes small businesses which are limited partnerships or subchapter S corporations to make quarterly distributions at any time during a calendar quarter (currently, only at the end of a calendar quarter).
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
Reported by the Committee on Small Business. H. Rept. 106-520.
Reported by the Committee on Small Business. H. Rept. 106-520.
Placed on the Union Calendar, Calendar No. 289.
Mrs. Kelly moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H940-942)
DEBATE - The House proceeded with forty minutes of debate on H.R. 3845.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H940-941)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H940-941)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Small Business.
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