A bill to amend the Small Business Investment Act of 1958 to authorize guarantees with respect to energy facilities, to conform it to current needs and usage, and for other purposes.
Small Business Energy Conservation act of 1980 - Amends the Small Business Investment Act of 1958 to make "energy facilities" eligible for Small Business Administration (SBA) contract guarantees. Includes within such definition: (1) solar equipment; (2) photovoltaic cells and related equipment; (3) equipment designed to increase the energy efficiency of existing fossil fuel systems; (4) industrial cogeneration equipment; or (6) equipment for producing energy or fuel from wood, biological waste, grain, or other biomass sources.
States that any SBA contract guarantee shall: (1) not be terminated or otherwise revoked; (2) be conclusive evidence of compliance with such Act; and (3) be valid and incontestable in the hands of the holder.
Provides that the SBA fix a uniform fee for such guarantees (presently an annual fee). Eliminates existing "rental guarantee" and "lessee-lessor" language in escrow and default provisions.
Authorizes the SBA to invest nonappropriated revolving fund moneys in federally-guaranteed bonds or obligations. Stipulates that moneys provided as capital for the fund may not be invested.
Limits guarantee expenditures to $250,000,000 for fiscal year 1981, and $300,000,000 for fiscal year 1982.
Introduced in Senate
Referred to Senate Select Committee on Small Business.
Reported to Senate from the Select Committee on Small Business with amendment, S. Rept. 96-725.
Reported to Senate from the Select Committee on Small Business with amendment, S. Rept. 96-725.
Call of calendar in Senate.
Measure considered in Senate.
Passed/agreed to in Senate: Measure passed Senate, amended.
Measure passed Senate, amended.
Referred to House Committee on Small Business.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line