Sec. 205. Capital Access Program oversight
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/bill/117/hr/7628/ih/section-205·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 47 of the Small Business Act ( 15 U.S.C. 657t ) is amended by adding at the end the following new subsection: Not later than the date that is 120 days after the date of the enactment of this subsection, and not less frequently than annually thereafter, the Associate Administrator of the Office of Capital Access of the Administration and the Director shall testify before the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives regarding the state of lending under sections 7(a) and 7(m) of this Act and under section 503 of the Small Business Investment Act of 1958, including programs under which loans are made pursuant to such sections. .
Section 7(b) of the Small Business Act ( 15 U.S.C. 636(b) ), as amended by section 203(b), is further amended by inserting after paragraph
(16)the following new paragraph: Not later than the date that is 120 days after the date of the enactment of this paragraph, and not less frequently than annually thereafter, the Associate Administrator of the Office of Disaster Assistance shall testify before the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives regarding the state of lending under this subsection, including programs under which loans are made pursuant to this subsection. . Section 308 of the Small Business Investment Act of 1958 ( 15 U.S.C. 687 ) is amended by adding at the end the following new subsection: Not later than the date that is 120 days after the date of the enactment of this subsection, and not less frequently than annually thereafter, the Associate Administrator of the Office of Investment and Innovation shall testify before the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives regarding the state of small business investment companies and the operations of the Administration under this Act. .
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