A bill to establish within the Department of Commerce a Small Business Administration, to terminate certain functions of the present Small Business Administration, to transfer certain functions of the present Small Business Administration to the Secretaries of Commerce and the Treasury, and for other purposes.
Small Business Act of 1986 - Title I: Findings - Sets forth the findings of this Act.
Title II: Transfers to the Department of Commerce - Transfers to the Secretary of Commerce all functions, powers, and duties of the Small Business Administration (SBA) under specified provisions of the Small Business Act and the White House Conference on Small Business Authorization Act. Transfers from the SBA to the Department of Commerce the Office of Advocacy.
Title III: Transfers to the Department of the Treasury - Transfers to the Secretary of the Treasury all rights, outstanding obligations, and assets of the SBA with respect to guaranteed loans and debentures and other specified guarantees made by the SBA to small businesses under the Small Business Act and the Small Business Investment Company Act of 1958.
Authorizes and directs the Secretary of the Treasury to purchase from the Federal Financing Bank all notes, bonds, debentures, or other obligations held by such bank that are guaranteed by the SBA.
Transfers to the Secretary of the Treasury the regulatory authorities of the SBA with respect to small business investment companies and minority enterprise small business investment companies under the Small Business Investment Company Act of 1958. Terminates such authorities upon the disposition of specified loans, debentures, or equity securities by the Secretary of the Treasury.
Title IV: Termination of Functions Under the Small Business Act and the Small Business Investment Company Act of 1958 - Terminates on October 1, 1986, various provisions of the Small Business Act and the Small Business Investment Company Act of 1958.
Title V: Miscellaneous Amendments and Repeals of Other Laws - Makes various conforming amendments and repeals specified provisions of Federal law relating to the SBA and the provisions of this Act.
Title VI: General Administrative Provisions - Authorizes the Secretary of Commerce and the Secretary of the Treasury to exercise and, where appropriate, to delegate any authority that is transferred from the SBA to them by this Act.
Establishes in the Department of Commerce a Small Business Administration which shall be headed by an Under Secretary of Commerce. Authorizes any unobligated funds that remain at the end of FY 1986 in the Disaster Loan Fund account to be transferred to the Business Loan and Investment Fund. Authorizes appropriations.
Title VII: Transitional, Savings, and Conforming Provisions - Provides for the transfer of personnel to the appropriate agency with respect to any functions or authority transferred from the SBA by this Act.
Requires the Director of the Office of Management and Budget, in consultation with the Administrator of the SBA, the Secretary of Commerce, and the Secretary of the Treasury, to make such determinations as may be necessary with regard to the functions transferred by this Act.
Provides that all orders, determinations, regulations, and licenses that have been issued or granted by the President or an SBA official in the performance of functions that were transferred under this Act and that are in effect on October 1, 1986, shall continue in effect until modified or revoked in accordance with law.
Authorizes the SBA from October 1, 1986, to December 31, 1986, to operate for the purpose of winding up its affairs and advising the Departments of Commerce and the Treasury. Prohibits the SBA from conducting any program activities during such period. Terminates the SBA on December 31, 1986.
Referred to House Committee on Small Business.
Introduced in Senate
Read twice and referred to the Committee on Governmental Affairs provided that if and when reported, and at the request of the Chairman of the Committee on Small Business, the bill be referred to the Committee on Small Business pursuant to Rule XXV (1)(o)(2) of the Standing Rules of the Senate.
Committee on Governmental Affairs requested executive comment from ACTION, Administrative Conference of the United States, Advisory Commission on Intergovernmental Relations, American Battle Monuments Commission, Appalachian Regional Commission, Board for International Broadcasting, Delaware River Basin Commission, District of Columbia, Equal Employment Opportunity Commission, Environmental Protection Agency, Export-Import Bank of the United States, Farm Credit Administration, Federal Communications Commission.
Committee on Governmental Affairs requested executive comment from Federal Deposit Insurance Corporation, Federal Emergency Management Agency, Federal Home Loan Bank Board, Federal Labor Relations Authority, Federal Maritime Commission, Federal Reserve System, Federal Trade Commission, Federal Mine Safety Commission, General Services Administration, Interstate Commerce Commission, Merit Systems Protection Board, National Aeronautics and Space Administration, National Labor Relations Board, Nuclear Regulatory Commission.
Committee on Governmental Affairs requested executive comment from Occupational Safety and Health Administration, Office of Personnel Management, Securities and Exchange Commission, Tennessee Valley Authority, U.S. Postal Service, Veterans' Administration, General Accounting Office, Congressional Budget Office, Office of Management and Budget, Office of Federal Procurement Policy, Departments of Agriculture, Commerce, Defense, Education, Energy, Health and Human Services, HUD, Interior, Justice, Labor, State, Transportation, Treasury.
Committee on Governmental Affairs received executive comment from Federal Mine Safety and Health Review Commission.
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Committee on Governmental Affairs received executive comment from OMB.
Committee on Governmental Affairs received executive comment from Advisory Commission on Intergovernmental Relations.
Committee on Governmental Affairs received executive comment from Occupational Safety and Health Administration, National Labor Relations Board, Federal Labor Relations Authority. Al.
Committee on Governmental Affairs received executive comment from National Aeronautics and Space Administration.
Committee on Governmental Affairs received executive comment from Federal Maritime Commission.
Committee on Governmental Affairs received executive comment from GAO.
Committee on Governmental Affairs received executive comment from Nuclear Regulatory Commission.
Committee on Governmental Affairs received executive comment from Appalachian Regional Commission.
Committee on Governmental Affairs received executive comment from State Department.
Committee on Governmental Affairs received executive comment from Farm Credit Administration.
Committee on Governmental Affairs received executive comment from Securities and Exchange Commission.
Committee on Governmental Affairs requested executive comment from Health and Human Services Department.
Committee on Governmental Affairs received executive comment from Federal Trade Commission.
Committee on Governmental Affairs received executive comment from General Services Administration.