Sec. 4. Development company debentures
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/bill/115/s/347/is/section-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 503(a) of the Small Business Investment Act of 1958 ( 15 U.S.C. 697(a) ) is amended by adding at the end the following: Any debenture issued by a State or local development company to a small manufacturer (as defined in section 501(e)(6)) with respect to which a guarantee is made under this subsection shall be in an amount equal to not more than 50 percent of the cost of the project with respect to which such debenture is issued. Subparagraph
(A)shall not apply to debentures issued during a fiscal year if— the cost to the Federal Government of making guarantees under this section is above zero; and the Administrator submits to Congress— notice regarding the determination of cost described in clause (i); and a detailed discussion indicating why not implementing subparagraph
(A)will cause the cost to the Federal Government of making guarantees under this section to be not more than zero. . Section 502(3)(C)(i) of the Small Business Investment Act of 1958 ( 15 U.S.C. 696(3)(C)(i) ) is amended by inserting is not a small manufacturer (as defined in section 501(e)(6)) and after small business concern .
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