
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC689a]

 
                      TITLE 15--COMMERCE AND TRADE
 
             CHAPTER 14B--SMALL BUSINESS INVESTMENT PROGRAM
 
              SUBCHAPTER III--INVESTMENT DIVISION PROGRAMS
 
               Part B--New Markets Venture Capital Program
 
Sec. 689a. Purposes

    The purposes of the New Markets Venture Capital Program established 
under this part are--
        (1) to promote economic development and the creation of wealth 
    and job opportunities in low-income geographic areas and among 
    individuals living in such areas by encouraging developmental 
    venture capital investments in smaller enterprises primarily located 
    in such areas; and
        (2) to establish a developmental venture capital program, with 
    the mission of addressing the unmet equity investment needs of small 
    enterprises located in low-income geographic areas, to be 
    administered by the Administrator--
            (A) to enter into participation agreements with New Markets 
        Venture Capital companies;
            (B) to guarantee debentures of New Markets Venture Capital 
        companies to enable each such company to make developmental 
        venture capital investments in smaller enterprises in low-income 
        geographic areas; and
            (C) to make grants to New Markets Venture Capital companies, 
        and to other entities, for the purpose of providing operational 
        assistance to smaller enterprises financed, or expected to be 
        financed, by such companies.

(Pub. L. 85-699, title III, Sec. 352, as added Pub. L. 106-554, 
Sec. 1(a)(8) [Sec. 1(b)(3)], Dec. 21, 2000, 114 Stat. 2763, 2763A-655.)

                  Section Referred to in Other Sections

    This section is referred to in section 689b of this title.
