A bill to amend the Small Business Act and the Small Business Investment.

(Reported to House from the Committee on Small Business with amendment, H. Rept. 94-1159)

=Title I: Authorizations and Limitations= - Amends the Small Business Investment Act of 1958 to increase the appropriation for surety bond guarantees from $35,000,000 to $71,000,000. Increases from $6,000,000,000 to $8,000,000,000 the amount appropriated for the business loan and investment fund of the Small Business Administration. Increases from $450,000,000 to $525,000,000 the amount appropriated for economic opportunity loans. Increases the funds for Small Business Investment Companies from $725,000,000 to $1,100,000,000.

Authorizes appropriations and sets program levels for various programs under the Small Business Act for fiscal years 1978 and 1979.

=Title II: Micellaneous Conforming and Technical Amendments= - Requires that reports to the President and Congress concerning minority small businesses include: the proportion of loans and other assistance under this Act; the goals of the Administration for the next fiscal year with respect to such concerns; and recommendations for improving assistance.

=Title III: Amendments to Small Business Administration Loan Authority= - Amends the Small Business Act to allow loans to be used for the financing of residential or commercial construction or rehabilitation for sale. States that no payments will be required of the small business while payments are being made by the Small Business Administration pursuant to the assumption of such business's obligation or while the Administration has suspended payment on its own loan. Limits the period of such assumption or suspension to five years. Sets the prerequisites for receiving the loan and the conditions for repayment of such loan.

Provides for assistance to small business concerns which are engaged in the production of food or fiber, ranching, and raising of livestock, acquaculture and all other farming and agricultural related industries.

Increases from $350,000 to $500,000 the limit on loans for regular businesses. Increases from $50,000 to $100,000 the limit for economic opportunity loans. Increases the limit for development company loans.

Amends the Small Business Investment Act and the Small Business Act to state that no loans for plant acquisitions shall exceed specified time periods.

=Title IV: Amendments to Small Business Administration Disaster Loan Authority= - Expands the coverage of disaster loans to situations which the Small Business Administration determines to be disasters and where no disaster has been declared upon the certification by the Governor of a State to the Small Business Administration that small business concerns have suffered economic injury as a result of such disaster and that financial assistance is not available on reasonable terms in the disaster-stricken area.

Requires the President to undertake a comprehensive review of all Federal disaster loan authorities and to report to the Congress concerning the most effective and efficient delivery of disaster relief.

States that the interest rate on the Administration's share of any loan made under this subsection shall not exceed three percent and in specified cases shall not be higher than two and three quarters percent.

=Title V: Certificate of Competency= - Amends the elements to be considered in certification of any small business for the receipt or performance of a specific Government contract. Requires that final disposition of contract awards be made by the Administration. Describes the role of Government procurement officers and officers engaged in the sale and disposal of Federal property.

=Title VI: Financing of Pollution Control Facilities= - Authorizes the Small Business Administration, whenever it determinizes that small business concerns are, or are likely to be, at an operational or financial disadvantage with other business concerns with respect to the planning, design or installation of pollution control facilities, or the obtaining the financing therefor, to guarantee the payment of rentals or other amounts due under qualified contracts. Provides that any such guarantee may be made or effected either directly or in cooperation with any qualified surety company or other qualified company through a participation agreement with such a company. Permits the Administration to fix a uniform annual fee for any guarantee issued under this title and to require that measures be followed in connection with the guarantee of rentals in order to minimize financial risk assumed by the guarantee.

Creates a separate fund for guarantees within the Treasury for guarantees which shall be available to the Administrator without fiscal limitations as a revolving fund. Authorizes to be appropriated amounts sufficient to provide the capital for such fund.

=Title VII: Chief Counsel for Advocacy= - Creates within the Small Business Administration an Office of Advocacy. States the functions of such Office which include receipt of complaints, criticism, and suggestions concerning the policies and activities of the Administration and the resolution of problems concerning the relationship of the small business to the Federal Government. Requires the Office of Advocacy to report to the Congress and the President not later than six months after enactment of this title.

Authorizes $1,000,000 to be appropriated to carry out the provisions of this title.

=Title VIII: Small Business Set-Asides= - Provides that any contracting agency, under the Small Business Act, shall place contracts to allow more than one small business concern to perform work, if the amount of a proposed small business set-aside contract exceeds the maximum amount of a contract for which a surety may be guaranteed against loss under the Small Business Administrations surety bond guarantee program.