
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document affected by Public Law 107-100 Section 1]
[CITE: 15USC661]

 
                      TITLE 15--COMMERCE AND TRADE
 
             CHAPTER 14B--SMALL BUSINESS INVESTMENT PROGRAM
 
                    SUBCHAPTER I--GENERAL PROVISIONS
 
Sec. 661. Congressional declaration of policy

    It is declared to be the policy of the Congress and the purpose of 
this chapter to improve and stimulate the national economy in general 
and the small-business segment thereof in particular by establishing a 
program to stimulate and supplement the flow of private equity capital 
and long-term loan funds which small-business concerns need for the 
sound financing of their business operations and for their growth, 
expansion, and modernization, and which are not available in adequate 
supply: Provided, however, That this policy shall be carried out in such 
manner as to insure the maximum participation of private financing 
sources.
    It is the intention of the Congress that the provisions of this 
chapter shall be so administered that any financial assistance provided 
hereunder shall not result in a substantial increase of unemployment in 
any area of the country. It is the intention of the Congress that in the 
award of financial assistance under this chapter, when practicable, 
priority be accorded to small business concerns which lease or purchase 
equipment and supplies which are produced in the United States and that 
small business concerns receiving such assistance be encouraged to 
continue to lease or purchase such equipment and supplies.

(Pub. L. 85-699, title I, Sec. 102, Aug. 21, 1958, 72 Stat. 689; Pub. L. 
102-366, title IV, Sec. 416, Sept. 4, 1992, 106 Stat. 1019.)

                       References in Text

    This chapter, referred to in text, was in the original ``this Act'', 
meaning Pub. L. 85-699, which enacted this chapter, amended sections 
77c, 77ddd, 80a-18, 633 and 636 of this title, and sections 217 [now 
212], 218 [now 213], 221 [now 216], 657, 1006 and 1014 of Title 18, 
Crimes and Criminal Procedure, repealed section 352a of Title 12, Banks 
and Banking, and enacted notes set out under this section and section 
352a of Title 12. For complete classification of this Act to the Code, 
see Short Title note set out below and Tables.


                               Amendments

    1992--Pub. L. 102-366 inserted at end ``It is the intention of the 
Congress that in the award of financial assistance under this chapter, 
when practicable, priority be accorded to small business concerns which 
lease or purchase equipment and supplies which are produced in the 
United States and that small business concerns receiving such assistance 
be encouraged to continue to lease or purchase such equipment and 
supplies.''


                      Short Title of 2000 Amendment

    Pub. L. 106-554, Sec. 1(a)(8) [Sec. 1(a)], Dec. 21, 2000, 114 Stat. 
2763, 2763A-653, provided that: ``This section [enacting part B of 
subchapter III of this chapter, amending section 683 of this title, 
section 109 of Title 11, Bankruptcy, and section 1464 of Title 12, Banks 
and Banking, and amending provisions set out as a note under section 631 
of this title] may be cited as the `New Markets Venture Capital Program 
Act of 2000'.''
    Pub. L. 106-554, Sec. 1(a)(9) [title III, Sec. 301], Dec. 21, 2000, 
114 Stat. 2763, 2763A-684, provided that: ``This title [enacting section 
697g of this title, amending sections 695 to 697 and 697e of this title, 
enacting provisions set out as a note under section 697g of this title, 
and repealing provisions set out as a note under section 697e of this 
title] may be cited as the `Certified Development Company Program 
Improvements Act of 2000'.''
    Pub. L. 106-554, Sec. 1(a)(9) [title IV, Sec. 401], Dec. 21, 2000, 
114 Stat. 2763, 2763A-690, provided that: ``This title [amending 
sections 662, 682, 683, and 687b of this title] may be cited as the 
`Small Business Investment Corrections Act of 2000'.''


                      Short Title of 1999 Amendment

    Pub. L. 106-9, Sec. 1, Apr. 5, 1999, 113 Stat. 17, provided that: 
``This Act [amending sections 662, 683, 687, and 687m of this title and 
provisions set out as notes under this section and section 631 of this 
title] may be cited as the `Small Business Investment Improvement Act of 
1999'.''


                      Short Title of 1994 Amendment

    Pub. L. 103-403, title V, Sec. 501, Oct. 22, 1994, 108 Stat. 4198, 
provided that: ``This title [enacting section 697f of this title and 
provisions set out as a note under section 697f of this title] may be 
cited as the `Small Business Prepayment Penalty Relief Act of 1994'.''


                      Short Title of 1992 Amendment

    Section 401 of title IV of Pub. L. 102-366 provided that: ``This Act 
[probably means ``This title'', amending this section and sections 662, 
682, 683, 685 to 687, 687b, and 687l of this title, enacting provisions 
set out as notes under this section and sections 681 and 687b of this 
title, and amending provisions set out as a note under section 631 of 
this title] may be cited as the `Small Business Equity Enhancement Act 
of 1992'.''


                      Short Title of 1988 Amendment

    Pub. L. 100-590, title II, Sec. 201, Nov. 3, 1988, 102 Stat. 3007, 
provided that: ``This title [amending sections 694b and 694c of this 
title and enacting provisions set out as notes under section 694b of 
this title] may be cited as the `Preferred Surety Bond Guarantee Program 
Act of 1988'.''


                      Short Title of 1972 Amendment

    Section 1 of Pub. L. 92-595, Oct. 27, 1972, 86 Stat. 1314, provided: 
``That this Act [enacting sections 687i and 687j of this title and 
amending sections 80a-18, 633, 636, 662, 681, 683, 684, and 686 of this 
title] may be cited as the `Small Business Investment Act Amendments of 
1972'.''


                      Short Title of 1967 Amendment

    Section 201 of Pub. L. 90-104, title II, Oct. 11, 1967, 81 Stat. 
269, provided that: ``This title [amending sections 681, 682, 683, 684, 
686, 687, 687b, and 692 of this title] may be cited as the `Small 
Business Investment Act Amendments of 1967'.''


                      Short Title of 1966 Amendment

    Section 1 of Pub. L. 89-779, Nov. 6, 1966, 80 Stat. 1359, provided: 
``That this Act [enacting sections 687e, 687f, 687g, and 687h of this 
title and amending sections 633, 671, 687, 687a, 687b, and 687c of this 
title, and sections 5315 and 5316 of Title 5, Government Organization 
and Employees] may be cited as the `Small Business Investment Act 
Amendments of 1966'.''


                      Short Title of 1964 Amendment

    Section 1 of Pub. L. 88-273, Feb. 28, 1964, 78 Stat. 146, provided: 
``That this Act [enacting section 687d and amending sections 682, 686, 
and 687 of this title] may be cited as the `Small Business Investment 
Act Amendments of 1963'.''


                      Short Title of 1961 Amendment

    Section 1 of Pub. L. 87-341, Oct. 3, 1961, 75 Stat. 752, provided: 
``That this Act [enacting sections 687a, 687b, and 687c of this title, 
amending sections 633, 662, 681, 683 to 687, and 696 of this title, and 
enacting provisions set out as notes under sections 631 and 686 of this 
title] may be cited as the `Small Business Investment Act Amendments of 
1961'.''


                      Short Title of 1960 Amendment

    Section 1 of Pub. L. 86-502, June 11, 1960, 74 Stat. 196, provided: 
``That this Act [amending sections 662, 681, 682, and 684 of this title, 
and section 26-610 of the District of Columbia Code, 1973 edition] may 
be cited as the `Small Business Investment Act Amendments of 1960'.''


                               Short Title

    Section 101 of Pub. L. 85-699, as amended by Pub. L. 106-9, 
Sec. 2(d)(3), Apr. 5, 1999, 113 Stat. 18, provided that: ``This Act 
[enacting this chapter, amending sections 77c, 77ddd, 80a-18, 633 and 
636 of this title, and sections 217 [now 212], 218 [now 213], 221 [now 
216], 657, 1006 and 1014 of Title 18, Crimes and Criminal Procedure, 
repealing section 352a of Title 12, Banks and Banking, and enacting 
notes set out under this section and former section 352a of title 12] 
may be cited as the `Small Business Investment Act of 1958'.''


                               Regulations

    Section 415 of title IV of Pub. L. 102-366 provided that: 
``Notwithstanding any law, rule, regulation or administrative 
moratorium, except as otherwise expressly provided in this Act [probably 
means ``this title'', see Short Title of 1992 Amendment note above], the 
Small Business Administration shall--
        ``(1) within 90 days after the date of enactment of this Act 
    [Sept. 4, 1992], publish in the Federal Register proposed rules and 
    regulations implementing this Act and the amendments made by this 
    Act; and
        ``(2) within 180 days after the date of enactment of this Act, 
    publish in the Federal Register final rules and regulations 
    implementing this Act, and enter such contracts as are necessary to 
    implement this Act and the amendments made by this Act.''


 Effect of Small Business Equity Enhancement Act of 1992 on Securities 
                                  Laws

    Section 418 of title IV of Pub. L. 102-366 provided that: ``Nothing 
in this Act [probably means ``this title'', see Short Title of 1992 
Amendment note above] (and no amendment made by this Act) shall be 
construed to affect the applicability of the securities laws, as that 
term is defined in section 3(a)(47) of the Securities Exchange Act of 
1934 [15 U.S.C. 78c(a)(47)], or any of the rules and regulations 
thereunder, or otherwise supersede or limit the jurisdiction of the 
Securities and Exchange Commission or the authority at any time 
conferred under the securities laws.''
