Sec. 2. Treatment of funding by small business investment companies
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Section 8 of the Small Business Act ( 15 U.S.C. 637 ) is amended— in subsection (a)(21)(E), by inserting , and except as provided under subsection (m)(9), after law, ; and in subsection (m), by adding at the end the following: In this paragraph, the term covered small business concern means a small business concern— owned and controlled by women; or owned and controlled by women described in paragraph (2)(A) and certified under paragraph (2)(E); and that receives funding from a small business investment company licensed under title III of the Small Business Investment Act of 1958 ( 15 U.S.C. 681 et seq. ).
Any covered small business concern shall retain certification as a covered small business concern under this subsection for a period of not more than 7 years if, during that period, ownership interests in the covered small business concern that are held by a small business investment company licensed under title III of the Small Business Investment Act of 1958 ( 15 U.S.C. 681 et seq. ) would reduce the percentage required under section 3(n) or paragraph (2)(A) of this subsection, as applicable, to less than 51 percent. .
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