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U.S. Code › Title
15 › Chapter 14A › §
633

15 U.S. Code § 633 - Small Business
Administration

US
Code

Notes

Updates

Authorities
(CFR)

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(a) Creation; principal, branch, and regional offices

In order to carry out the policies of this chapter there is
created an agency under the name “Small Business Administration” (herein
referred to as the Administration), which Administration shall be under the
general direction and supervision of the President and shall not be affiliated
with or be within any other agency or department of the Federal Government. The
principal office of the Administration shall be located in the District of
Columbia. The Administration may establish such branch and regional offices in
other places in the United States as may be determined by the Administrator of
the Administration. As used in this chapter, the term “United States” includes
the several States, the Territories and possessions of the United States, the
Commonwealth of Puerto Rico, the Trust Territory of the Pacific Islands, and the
District of Columbia.

(b) Appointment of Administrator, Deputy Administrator, and
Associate Administrators; duties of Administrator: preparation of data base and
publication of economic indices and annual report; risk management database;
computer security and education program

(1) The management of the Administration shall be vested in an
Administrator who shall be appointed from civilian life by the President, by and
with the advice and consent of the Senate, and who shall be a person of
outstanding qualifications known to be familiar and sympathetic with
small-business needs and problems. The Administrator shall not engage in any
other business, vocation, or employment than that of serving as Administrator.
In carrying out the programs administered by the Small Business Administration
including its lending and guaranteeing functions, the Administrator shall not
discriminate on the basis of sex or marital status against any person or small
business concern applying for or receiving assistance from the Small Business
Administration, and the Small Business Administration shall give special
consideration to veterans of the Armed Forces of the United States and their
survivors or dependents. The President also may appoint a Deputy Administrator,
by and with the advice and consent of the Senate. The Administrator is
authorized to appoint Associate Administrators (including the Associate
Administrator specified in section 671 of this title) to
assist in the execution of the functions vested in the Administration. One such
Associate Administrator shall be the Associate Administrator for Veterans
Business Development, who shall administer the Office of Veterans Business
Development established under section 657b of this title.
One of the Associate Administrators shall be designated at the time of his
appointment as the Associate Administrator for Minority Small Business and
Capital Ownership Development who shall be an employee in the competitive
service or in the Senior Executive Service and a career appointee and shall be
responsible to the Administrator for the formulation and execution of the
policies and programs under sections 636 (j)
and 637 (a)
of this title which provide assistance to minority small business concerns. The
Deputy Administrator shall be Acting Administrator of the Administration during
the absence or disability of the Administrator or in the event of a vacancy in
the office of the Administrator. One such Associate Administrator shall be the
Associate Administrator for International Trade, who shall be the head of the
Office of International Trade established under section 649 of this title.

(2) The Administrator also shall be responsible for—

(A) establishing and maintaining an external small business economic
data base for the purpose of providing the Congress and the Administration
information on the economic condition and the expansion or contraction of the
small business sector. To that end, the Administrator shall publish on a regular
basis national small business economic indices and, to the extent feasible,
regional small business economic indices, which shall include, but need not be
limited to, data on—

(i) employment, layoffs, and new hires;

(ii)
number of business establishments and the types of such
establishments such as sole proprietorships, corporations, and partnerships;

(iii)
number of business formations and failures;

(iv)
sales and new orders;

(v) back orders;

(vi)
investment in plant and equipment;

(vii)
changes in inventory and rate of inventory turnover;

(viii)
sources and amounts of capital investment, including debt,
equity, and internally generated funds;

(ix)
debt to equity ratios;

(x) exports;

(xi)
number and dollar amount of mergers and acquisitions by size
of acquiring and acquired firm; and

(xii)
concentration ratios; and

(B) publishing annually a report giving a comparative analysis and
interpretation of the historical trends of the small business sector as
reflected by the data acquired pursuant to subparagraph (A) of this subsection.

(3) Risk management database.—

(A) Establishment.— The Administration
shall establish, within the management system for the loan programs authorized
by subsections (a) and (b) ofsection 636 of this title and
title V of the Small Business Investment Act of 1958 [15 U.S.C. 695 et seq.], a
management information system that will generate a database capable of providing
timely and accurate information in order to identify loan underwriting,
collections, recovery, and liquidation problems.

(B) Information to be maintained.— In
addition to such other information as the Administration considers appropriate,
the database established under subparagraph (A) shall, with respect to each loan
program described in subparagraph (A), include information relating to—

(i) the identity of the institution making the guaranteed loan or
issuing the debenture;

(ii)
the identity of the borrower;

(iii)
the total dollar amount of the loan or debenture;

(iv)
the total dollar amount of government exposure in each loan;

(v) the district of the Administration in which the borrower has its
principal office;

(vi)
the principal line of business of the borrower, as identified
by Standard Industrial Classification Code (or any successor to that system);

(vii)
the delinquency rate for each program (including number of
instances and days overdue);

(viii)
the number and amount of repurchases, losses, and recoveries
in each program;

(ix)
the number of deferrals or forbearances in each program
(including days and number of instances);

(x) comparisons on the basis of loan program, lender, district and
region of the Administration, for all the data elements maintained; and

(xi)
underwriting characteristics of each loan that has entered
into default, including term, amount and type of collateral, loan-to-value and
other actual and projected ratios, line of business, credit history, and type of
loan.

(C) Deadline for operational capability.— The database established under subparagraph (A) shall—

(i) be operational not later than June 30, 1997; and

(ii)
capture data beginning on the first day of the second quarter
of fiscal year 1997 beginning after such date and thereafter.

(4)

(A) The Administrator shall establish a small business computer
security and education program to—

(i) provide small business concerns information regarding—

(I)
utilization and management of computer technology;

(II)
computer crimes committed against small business concerns;
and

(III)
security for computers owned or utilized by small business
concerns;

(ii)
provide for periodic forums for small business concerns to
improve their knowledge of the matters described in clause (i); and

(iii)
provide training opportunities to educate small business
users on computer security techniques.

(B) The Administrator, after consultation with the Director of the
Institute of Computer Sciences and Technology within the Department of Commerce,
shall develop information and materials to carry out the activities described in
subparagraph (A) of this paragraph.

(c) Revolving funds; disaster loan fund; business loan and
investment fund; payments into funds; appropriations; reports to Congress;
business-type budgets; borrowing authority: terms and conditions of notes,
interest rate, public debt transactions; payments into miscellaneous receipts;
authorization of appropriations for losses and interest subsidies

(1) There are established in the Treasury the following revolving
funds:

(A) a disaster loan fund which shall be available for financing
functions performed under sections 634 (e),
636 (b)(1),
636 (b)(2),
636 (b)(3),
636 (b)(4),
636 (d)(2),
and 636 (m)
of this title; and

(B) a business loan and investment fund which shall be available for
financing functions performed under sections 634 (g),
636 (a)
and 637 (a)
of this title, and titles III, IV and V of the Small Business Investment Act of
1958 [15 U.S.C. 681 et seq., 692 et seq.,
695 et
seq.].

(2) All repayments of loans and debentures, payments of interest and
other receipts arising out of transactions heretofore or hereafter entered into
by the Administration

(A) pursuant to sections 634 (e),
636 (b)(1),
636 (b)(2),
636 (b)(3),
636 (b)(4),
636 (b)(5),
636 (b)(6),
636 (b)(7),
636 (b)(8),
636 (d)(2),
and 636 (g)
of this title, shall be paid into a disaster loan fund; and

(B) pursuant to sections 634 (g),
636 (a),
636 (h),
636 (i),
636 (l), [1] 636 (m),
and 637 (a)
of this title, and titles III, IV and V of the Small Business Investment Act of
1958 [15 U.S.C. 681 et seq., 692 et seq.,
695 et
seq.], shall be paid into the business loan and investment fund.

(3) Unexpended balances of appropriations made to the fund pursuant to
this subsection, as in effect immediately prior to the effective date of this
paragraph, shall be allocated, together with related assets and liabilities, to
the funds established by paragraph (1) in such amounts as the Administrator
shall determine.

(4) The Administration shall submit to the Committees on
Appropriations, Senate Select Committee on Small Business, and the Committee on
Small Business of the House of Representatives, as soon as possible after the
beginning of each calendar quarter, a full and complete report on the status of
each of the funds established by paragraph (1). Business-type budgets for each
of the funds established by paragraph (1) shall be prepared, transmitted to the
Committees on Appropriations, the Senate Select Committee on Small Business, and
the Committee on Small Business of the House of Representatives, and considered,
and enacted in the manner prescribed by law (sections 9103 and 9104 of title 31) for wholly owned
Government corporations.

(5)

(A) The Administration is authorized to make and issue notes to the
Secretary of the Treasury for the purpose of obtaining funds necessary for
discharging obligations under the revolving funds created by paragraph (1) and
for authorized expenditures out of the funds. Such notes shall be in such form
and denominations and have such maturities and be subject to such terms and
conditions as may be prescribed by the Administration with the approval of the
Secretary of the Treasury. Such notes shall bear interest at a rate fixed by the
Secretary of the Treasury, taking into consideration the current average market
yield of outstanding marketable obligations of the United States having
maturities comparable to the notes issued by the Administration under this
paragraph. The Secretary of the Treasury is authorized and directed to purchase
any notes of the Administration issued hereunder, and, for that purpose, the
Secretary of the Treasury is authorized to use as a public debt transaction the
proceeds from the sale of any securities issued under chapter 31
of title 31, and the purposes for
which such securities may be issued under such chapter are extended to include
the purchase of notes issued by the Administration. All redemptions, purchases,
and sales by the Secretary of the Treasury of such notes shall be treated as
public debt transactions of the United States. All borrowing authority contained
herein shall be effective only to such extent or in such amounts as are provided
in advance in appropriation Acts.

(B)

(i) Moneys in the funds established in paragraph (1) not needed for
current operations may be paid into miscellaneous receipts of the Treasury.

(ii)
Following the close of each fiscal year, the Administration
shall pay into the miscellaneous receipts of the United States Treasury the
actual interest that the Administration collects during that fiscal year on all
financings made under this chapter.

(C) Except on those loan disbursements on which interest is paid under
paragraph (5)(B)(ii), the Administration shall pay into miscellaneous receipts
of the Treasury, following the close of each fiscal year, interest received by
the Administration on financing functions performed under this chapter and
titles III and V of the Small Business Investment Act of 1958 [15 U.S.C. 681 et seq., 695 et seq.]
providing the capital used to perform such functions originated from
appropriated funds. Such payments shall be treated by the Department of the
Treasury as interest income, not as retirement of indebtedness.

(D) There are authorized to be appropriated, in any fiscal year, such
sums as may be necessary for losses and interest subsidies incurred by the funds
established by paragraph (1), but not previously reimbursed.

(d) Creation and composition of Loan Policy Board; establishment
of policies

There is created the Loan Policy Board of the Small Business
Administration, which shall consist of the following members, all ex officio:
The Administrator, as Chairman, the Secretary of the Treasury, and the Secretary
of Commerce. Either of the said Secretaries may designate an officer of his
Department, who has been appointed by the President by and with the advice and
consent of the Senate, to act in his stead as a member of the Loan Policy Board
with respect to any matter or matters. The Loan Policy Board shall establish
general policies (particularly with reference to the public interest involved in
the granting and denial of applications for financial assistance by the
Administration and with reference to the coordination of the functions of the
Administration with other activities and policies of the Government), which
shall govern the granting and denial of applications for financial assistance by
the Administration.

(e) Prohibition on provision of assistance

Notwithstanding any other provision of law, the
Administration is prohibited from providing any financial or other assistance to
any business concern or other person engaged in the production or distribution
of any product or service that has been determined to be obscene by a court of
competent jurisdiction.

(f) Certification of compliance with child support obligations

(1) In general

For financial assistance approved after the promulgation of
final regulations to implement this section, each recipient of financial
assistance under this chapter, including a recipient of a direct loan or a loan
guarantee, shall certify that the recipient is not more than 60 days delinquent
under the terms of any—

(A) administrative order;

(B) court order; or

(C) repayment agreement entered into between the recipient and the
custodial parent or State agency providing child support enforcement services,

that requires the recipient to pay child support, as such
term is defined in section 662 (b)  [1] of title 42.

(2) Enforcement

Not later than 6 months after October 22, 1994, the
Administration shall promulgate such regulations as may be necessary to enforce
compliance with the requirements of this subsection.

[1]  See References in Text note below.

Source

(Pub.
L. 85–536, § 2[4], July 18, 1958, 72
Stat. 384; Pub.
L. 85–699, title II, § 202, formerly § 202(a),Aug. 21, 1958, 72
Stat. 690, renumbered Pub.
L. 87–341, § 11(h)(1),Oct. 3, 1961, 75
Stat. 757; amended Pub.
L. 86–367, § 1,Sept. 22, 1959, 73
Stat. 647; Pub.
L. 87–70, title III, § 305(c),June 30, 1961, 75
Stat. 167; Pub.
L. 87–198, Sept. 5, 1961, 75
Stat. 468; Pub.
L. 87–305, § 3,Sept. 26, 1961, 75
Stat. 666; Pub.
L. 87–341, §§ 11(h)(3), (4), 12,Oct. 3, 1961, 75
Stat. 757; Pub.
L. 87–550, § 1(a),July 25, 1962, 76
Stat. 220; Pub.
L. 89–59, §§ 1(c), 2,June 30, 1965, 79
Stat. 207; Pub.
L. 89–78, July 21, 1965, 79
Stat. 243; Pub.
L. 89–117, title III, § 316(d),Aug. 10, 1965, 79
Stat. 484; Pub.
L. 89–334, Nov. 8, 1965, 79
Stat. 1294; Pub.
L. 89–409, §§ 1, 2,May 2, 1966, 80
Stat. 132; Pub.
L. 89–779, § 8(a), (b),Nov. 6, 1966, 80
Stat. 1364; Pub.
L. 90–104, title I, § 102,Oct. 11, 1967, 81
Stat. 268; Pub.
L. 90–448, title XVII, § 1721,Aug. 1, 1968, 82
Stat. 610; Pub.
L. 91–173, title V, § 504(c),Dec. 30, 1969, 83
Stat. 802; Pub.
L. 91–558, title I, § 101,Dec. 17, 1970, 84
Stat. 1468; Pub.
L. 91–596, § 28(c),Dec. 29, 1970, 84
Stat. 1618; Pub.
L. 91–597, § 25(c),Dec. 29, 1970, 84
Stat. 1634; Pub.
L. 92–16, May 18, 1971, 85
Stat. 39; Pub.
L. 92–320, § 1,June 27, 1972, 86
Stat. 382; Pub.
L. 92–385, § 2(b),Aug. 16, 1972, 86
Stat. 556; Pub.
L. 92–500, § 8(b),Oct. 18, 1972, 86
Stat. 899; Pub.
L. 92–595, § 3(a),Oct. 27, 1972, 86
Stat. 1316; Pub.
L. 93–237, §§ 1, 3 (b),
8,Jan. 2,
1974, 87
Stat. 1023–1025; Pub.
L. 93–386, §§ 2(a)(2), (3), 7,Aug. 23, 1974, 88
Stat. 742, 748; Pub.
L. 94–273, § 2(5),Apr. 21, 1976, 90
Stat. 375; Pub.
L. 95–14, §§ 1–3,Mar. 24, 1977, 91
Stat. 25; Pub.
L. 95–89, title I, § 101(a)–(c), title II, §§ 201, 202, title III,
§ 304, title IV, § 401,Aug. 4, 1977, 91
Stat. 553, 557, 559; Pub.
L. 95–315, § 4,July 4, 1978, 92
Stat. 379; Pub.
L. 95–507, title II, § 206,Oct. 24, 1978, 92
Stat. 1766; Pub.
L. 96–302, title I, § 121, title IV, § 401,July 2, 1980, 94
Stat. 842, 849; Pub.
L. 96–481, title I, § 103,Oct. 21, 1980, 94
Stat. 2321; Pub.
L. 97–35, title XIX, §§ 1908, 1913 (b),
1915,Aug. 13, 1981, 95
Stat. 778, 780; Pub.
L. 98–270, title III, § 306,Apr. 18, 1984, 98
Stat. 161; Pub.
L. 98–352, § 5,July 10, 1984, 98
Stat. 331; Pub.
L. 98–362, §§ 3, 4,July 16, 1984, 98
Stat. 431, 433; Pub.
L. 100–590, title I, § 111(a),Nov. 3, 1988, 102
Stat. 2995; Pub.
L. 100–656, title IV, § 401(a),Nov. 15, 1988, 102
Stat. 3873; Pub.
L. 101–37, § 11(a),June 15, 1989, 103
Stat. 73; Pub.
L. 101–515, title V, § 1(a),Nov. 5, 1990, 104
Stat. 2140; Pub.
L. 101–574, title II, § 221(a),Nov. 15, 1990, 104
Stat. 2823; Pub.
L. 102–140, title VI, § 609(k),Oct. 28, 1991, 105
Stat. 831; Pub.
L. 103–403, title VI, §§ 601, 611, 612,Oct. 22, 1994, 108
Stat. 4201, 4204; Pub.
L. 104–208, div. D, title I, § 102,Sept. 30, 1996, 110
Stat. 3009–725; Pub.
L. 106–50, title II, § 201(a),Aug. 17, 1999, 113
Stat. 235; Pub.
L. 108–447, div. K, title I, § 132(a), (c),Dec. 8, 2004, 118
Stat. 3452, 3453; Pub.
L. 110–234, title XII, § 12068(b)(1),May 22, 2008, 122
Stat. 1410; Pub.
L. 110–246, § 4(a), title XII, § 12068(b)(1),June 18, 2008, 122
Stat. 1664, 2172; Pub.
L. 111–240, title I, §§ 1202(b)(2), 1203 (b),Sept.
27, 2010, 124
Stat. 2521.)

References in Text

The effective date of this paragraph, referred to in subsec.
(c)(3), is July 1, 1966, pursuant to Pub.
L. 89–409, § 2.

The Small Business Investment Act of 1958, referred to in
subsecs. (b)(3)(A) and (c)(1), (2), (5)(C), is Pub.
L. 85–699, Aug. 21, 1958, 72
Stat. 689, as amended. Titles III, IV, and V of the Act are classified
generally to subchapters III (§ 681 et seq.), IV (§ 692 et seq.), and
V (§ 695 et seq.) of chapter 14B of this
title. For complete classification of this Act to the Code, see Short Title note
set out under section 661 of this title and
Tables.

Section 636 (l)
of this title, referred to in subsec. (c)(2)(B), was amended generally to read
“[RESERVED].” by Pub.
L. 104–208, div. D, title I, § 107(d),Sept. 30, 1996, 110
Stat. 3009–732. Subsequently, Pub.
L. 111–240, title I, § 1131(a),Sept. 27, 2010, 124
Stat. 2512, struck out that subsec. (l) and added a new subsec. (l).

Section 662 of title 42, referred to in subsec.
(f)(1), was repealed by Pub.
L. 104–193, title III, § 362(b)(1),Aug. 22, 1996, 110
Stat. 2246.

Codification

In subsec. (c)(4), (5)(A), “(sections 9103 and 9104 of title 31)” substituted for
“(sections 102, 103, and 104 of the Government Corporation Control Act (31 U.S.C. 847–849))”, and
“chapter 31
of title 31” and “such chapter”
substituted for “the Second Liberty Bond Act, as amended” and “such Act, as
amended,”, respectively, on authority of Pub.
L. 97–258, § 4(b),Sept. 13, 1982, 96
Stat. 1067, the first section of which enacted Title 31, Money and Finance.

Pub.
L. 110–234and Pub.
L. 110–246made identical amendments to this section. The amendments by Pub.
L. 110–234were repealed by section 4(a) ofPub.
L. 110–246.

Prior Provisions

Prior similar provisions were contained in section 204 of
act July 30, 1953, ch. 282, title II, 67
Stat. 233, as amended by acts Aug. 9, 1955, ch. 628, § 3,69
Stat. 547; Feb. 2, 1956, ch. 29, § 1,70
Stat. 10; July 31, 1956, ch. 804, title I, §§ 106(a), 107 (b),70
Stat. 737; Pub.
L. 85–4, Feb. 11, 1957, 71
Stat. 4; Pub.
L. 85–120, § 1,Aug. 3, 1957, 71
Stat. 341, which was previously classified to this section. See Codification
note set out under section 631 of this title.

Amendments

2010—Subsec. (b)(1). Pub.
L. 111–240, § 1203(b), substituted “Associate Administrators” for “five
Associate Administrators” in fifth sentence and inserted at end “One such
Associate Administrator shall be the Associate Administrator for International
Trade, who shall be the head of the Office of International Trade established
under section 649 of this title.”

Subsec. (b)(3)(B)(x). Pub.
L. 111–240, § 1202(b)(2), substituted “district and region of the
Administration” for “Administration district and region”.

2008—Subsec. (c)(1), (2). Pub.
L. 110–246, § 12068(b)(1), in pars. (1) and (2) substituted “636(d)(2)”
for “636(c)(2)” and in par. (2) struck out “636(e),” after “636(a),”.

2004—Subsecs. (g), (h). Pub.
L. 108–447, § 132(a), (c), temporarily added subsecs. (g) and (h),
which related to gifts and co-sponsorship of events, respectively. See
Termination Date of 2004 Amendment note below.

1999—Subsec. (b)(1). Pub.
L. 106–50substituted “five Associate Administrators” for “four Associate
Administrators” in fifth sentence and inserted after fifth sentence “One such
Associate Administrator shall be the Associate Administrator for Veterans
Business Development, who shall administer the Office of Veterans Business
Development established under section 657b of this title.”

1996—Subsec. (b)(3). Pub.
L. 104–208added par. (3).

1994—Subsec. (c)(5)(B)(ii). Pub.
L. 103–403, § 601, amended cl. (ii) generally. Prior to amendment, cl.
(ii) read as follows: “The Administration shall pay into miscellaneous receipts
of the Treasury, following the close of each fiscal year, interest on the
average of loan disbursements outstanding throughout the year providing such
disbursements are made from amounts appropriated for the disaster loan fund
after October 1, 1980 or are made from repayments of principal of loans made
from funds appropriated to the disaster loan fund, or from amounts appropriated
to the business loan and investment fund on or after October 1, 1981 or are made
from repayments of principal of loans made from funds appropriated to the
business loan and investment fund and received on or after October 1, 1981. This
interest shall be calculated solely on the amount of loan disbursements net of
losses at the rate provided under paragraph (5)(A).”

Subsec. (e). Pub.
L. 103–403, § 611, added subsec. (e).

Subsec. (f). Pub.
L. 103–403, § 612, added subsec. (f).

1991—Subsec. (c)(1)(A), (2)(B). Pub.
L. 102–140inserted reference to section 636 (m).

1990—Subsec. (b)(1). Pub.
L. 101–515and Pub.
L. 101–574amended par. (1) identically, substituting “The President also may
appoint a Deputy Administrator, by and with the advice and consent of the
Senate. The Administrator is authorized to appoint” for “The Administrator is
authorized to appoint a Deputy Administrator and”.

1989—Subsec. (b)(1). Pub.
L. 101–37made technical correction to directory language of Pub.
L. 100–656, § 401(a), see 1988 Amendment note below.

1988—Subsec. (b)(1). Pub.
L. 100–656, § 401(a), as amended by Pub.
L. 101–37, inserted “who shall be an employee in the competitive service or
in the Senior Executive Service and a career appointee” after “Capital Ownership
Development”.

Subsec. (c)(1)(B), (2)(B). Pub.
L. 100–590, § 111(a), substituted “III, IV” for “III”.

1984—Subsec. (b)(3). Pub.
L. 98–362, §§ 3, 7 (b),
added par. (3) and provided for future repeal of par. (3). See Effective and
Termination Dates of 1984 Amendment note below.

Subsec. (b)(4). Pub.
L. 98–362, § 4, added par. (4).

Subsec. (c)(1)(A). Pub.
L. 98–270inserted reference to section 636 (b)(4).

Subsec. (c)(1)(B), (2)(B). Pub.
L. 98–352inserted reference to section 634 (g).

1981—Subsec. (c)(1)(A). Pub.
L. 97–35, § 1913(b), substituted “636(c)(2) of this title” for
“636(b)(4), 636(b)(5), 636(b)(6), 636(b)(7), 636(b)(8), 636(c)(2), and 636(g) of
this title”.

Subsec. (c)(1)(B). Pub.
L. 97–35, § 1908, struck out reference to sections 636 (e),
636 (h),
636 (i),
and 636 (l).

Subsec. (c)(5)(B)(ii). Pub.
L. 97–35, § 1915, substituted “for the disaster loan fund after October
1, 1980 or are made from repayments of principal of loans made from funds
appropriated to the disaster loan fund, or from amounts appropriated to the
business loan and investment fund on or after October 1, 1981 or are made from
repayments of principal of loans made from funds appropriated to the business
loan and investment fund and received on or after October 1, 1981” for “after
October 1, 1980 or are made from repayments of principal of loans made from
appropriated funds”.

1980—Subsec. (b). Pub.
L. 96–302, § 401, designated existing provisions as par. (1) and added
par. (2).

Subsec. (b)(1). Pub.
L. 96–481, which provided for “striking all after the phrase ‘Capital
Ownership Development’ through the period” and inserting new text in lieu
thereof was executed by striking all after “Capital Ownership Development”
through period at end of sentence and not at end of paragraph which resulted in
substituting provisions that the Associate Administrator for Minority Small
Business and Capital Ownership Development shall be responsible to the
Administrator for the formulation and execution of the policies and programs
under sections 636 (j)
and 637 (a)
of this title for provisions, that such Administrator shall be responsible for
the formulation of policy relating to the Administration’s programs which
provide assistance to minority small business concerns and in the review of the
Administration’s execution of such programs in light of such policy.

Subsec. (c)(5). Pub.
L. 96–302, § 121, inserted provisions other than subpar. (B)(ii) and
incorporated partly in subpar. (A) and in subpar. (B)(ii) prior par. (5)
provisions requiring Administration payment of interest on outstanding cash
disbursements at close of each fiscal year into the miscellaneous receipts of
the Treasury from par. (1) funds at rates that consider current average yields
on outstanding interest-bearing marketable Federal debt obligations of
comparable maturities as calculated for the September preceding the fiscal year.

1978—Subsec. (b). Pub.
L. 95–507substituted “Associate Administrator for Minority Small Business
and Capital Ownership Development” for “Associate Administrator for Minority
Small Business”.

Subsec. (c)(1)(B), (2)(B). Pub.
L. 95–315inserted reference to section 636 (l).

1977—Subsec. (c)(1). Pub.
L. 95–89, §§ 101(a), 304, 401 (1),
struck out end text from cls. (A) and (B) reading “, including administrative
expenses in connection with such functions”; inserted in cl. (A) reference to
section 634
(e);
and inserted in cl. (A) and struck out from cl. (B) reference to section 636 (b)(3).

Subsec. (c)(2). Pub.
L. 95–89, §§ 201, 304, 401 (2),
inserted in cl. (A) reference to section 636 (g);
inserted in cl. (A) reference to section 634 (e);
and inserted in cl. (A) and struck out from cl. (B) reference to section 636 (b)(3).

Subsec. (c)(3). Pub.
L. 95–89, § 101(b), struck out last sentence authorization of
appropriations of capital for the funds in amounts necessary to carry out the
functions of the Administration to remain available until expended.

Subsec. (c)(4). Pub.
L. 95–89, §§ 101(c), 202, repealed
provisions of par. (4) which limited the total amount of loans, guarantees, and
other obligations, to be outstanding at any one time: under sections 636 (a),
(b)(3), (e), (h), (i) and 637 (a)
of this title to $7,400,000,000; under title III of the Small Business
Investment Act of 1958 to $887,500,000; under title V of the Small Business
Investment Act of 1958 to $525,000,000; and under section 636 (i)
of this title to $525,000,000; redesignated par. (5) as (4) and substituted
reference to submission of reports to the Senate Select Committee on Small
Business and the Committee on Small Business of the House of Representatives for
the prior reference the Committees on Banking and Currency of the Senate and
House of Representatives; substituted reference to transmission of business-type
budgets to the Committees on Appropriations, the Senate Select Committee on
Small Business, and the Committee on Small Business of the House of
Representatives for prior reference to such transmission to the Congress; and
deleted the second sentence providing that if at the close of the preceding
calendar quarter the aggregate amount outstanding or committed by the
Administration in carrying out its functions under the sections or titles
referred to in former par. (4) exceeded 75 per centum of the total amount
authorized to be outstanding under such sections or titles, the Administration’s
report shall include its recommendations for such additional authority as it
deems appropriate.

Pub.
L. 95–14substituted “$7,400,000,000” for “$6,000,000,000”, “$525,000,000”
for “$450,000,000”, and “$887,500,000” for “$725,000,000”.

Subsec. (c)(5), (6). Pub.
L. 95–89, § 202, redesignated pars. (5) and (6) as (4) and (5),
respectively.

1976—Subsec. (c)(6). Pub.
L. 94–273substituted “September” for “June”.

1974—Subsec. (b). Pub.
L. 93–386, § 7, in fourth sentence increased from three to four the
number of Associate Administrators authorized to be appointed and inserted fifth
sentence authorizing one of the Associate Administrators at the time of
appointment to be designated as Associate Administrator for Minority Small
Business. As enacted section 7 ofPub.
L. 93–386amended the third sentence and inserted a fourth sentence to
subsec. (b), however the amendment was executed to fourth sentence and the new
sentence was inserted as a fifth sentence editorially since this would appear to
be the probable intent of Congress.

Pub.
L. 93–237, § 8, inserted provisions that the Administrator shall not
discriminate on the basis of sex or marital status against any person or small
business concern applying for or receiving assistance from the Administration
and that the Administration shall give special consideration to veterans of the
Armed Forces of the United States and their survivors or dependents in carrying
out the programs administered by the Administration.

Subsec. (c)(1). Pub.
L. 93–386, § 2(a)(2), inserted references to sections 636 (b)(8)
and 636 (i)
and struck out reference to title IV of the Economic Opportunity Act of 1964.

Pub.
L. 93–237, § 3(b), substituted “636(h)” for “636(g)” in cl. (B).

Subsec. (c)(2). Pub.
L. 93–386, § 2(a)(2), inserted references to sections 636 (b)(8)
and 636 (i)
of this title and struck out reference to title IV of the Economic Opportunity
Act of 1964.

Pub.
L. 93–237, § 3(b), substituted “636(h)” for “636(g)” in cl. (B).

Subsec. (c)(4). Pub.
L. 93–386, § 2(a)(3), in cl. (A) substituted “636(i), and 637(a) of
this title, shall not exceed $6,000,000,000” for “and 637(a) of this title, and
title IV of the Economic Opportunity Act of 1964, shall not exceed
$4,875,000,000”, in cl. (B) substituted “$725,000,000” for “$556,250,000”, and
in cl. (D) substituted “section 636 (i)
of this title, shall not exceed $450,000,000” for “title IV of the Economic
Opportunity Act of 1964 shall not exceed $381,250,000”.

Pub.
L. 93–237, §§ 1, 3 (b),
substituted “$4,875,000,000” for “$4,300,000,000” and “636(h)” for “636(g)” in
cl. (A), “$556,250,000” for “$500,000,000” in cl. (B), “$525,000,000” for
“$500,000,000” in cl. (C) and “$381,250,000” for “$350,000,000” in cl. (D).

1972—Subsec. (c)(1). Pub.
L. 92–595inserted reference to section 636 (g).

Pub.
L. 92–500made disaster loan fund available for financing functions performed
under section 636 (g)
of this title.

Pub.
L. 92–385, § 2(b)(1), inserted reference to section 636 (b)(7).

Subsec. (c)(2). Pub.
L. 92–595inserted reference to section 636 (g).

Pub.
L. 92–385, § 2(b)(2), inserted reference to sections 636 (b)(5),
636 (b)(6),
636 (b)(7).

Subsec. (c)(4). Pub.
L. 92–595inserted reference to section 636 (g).

Pub.
L. 92–320substituted “$4,300,000,000”, “$500,000,000”, and “$350,000,000”
for “$3,100,000,000”, “$450,000,000” and “$300,000,000”, respectively.

1971—Subsec. (c)(4)(A). Pub.
L. 92–16substituted “$3,100,000,000” for “$2,200,000,000”.

1970—Subsec. (c)(1). Pub.
L. 91–597made disaster loan fund available for financing requirements
imposed by section 636 (b)(5)
of this title relating to additions and alterations pursuant to the Egg Products
Inspection Act, etc. See, also, 1969 Amendment note hereunder.

Pub.
L. 91–596made disaster loan fund available for financing functions under
section 636
(b)(6)
of this title.

Subsec. (c)(4). Pub.
L. 91–558substituted “$2,200,000,000” for “$1,900,000,000” in cl. (A),
“$500,000,000” for “$300,000,000” in cl. (C), and “$300,000,000” for
“$200,000,000” in cl. (D).

1969—Subsec. (c)(1). Pub.
L. 91–173made disaster loan fund available for financing functions under
section 636
(b)(5)
of this title, relating to loans to coal mine operators.

1968—Subsec. (a). Pub.
L. 90–448inserted “the Trust Territory of the Pacific Islands,”.

1967—Subsec. (c)(4). Pub.
L. 90–104, § 102(1)–(4), substituted $1,900,000,000 for $1,400,000,000
in cl. (A), $450,000,000 for $400,000,000 in cl. (B), $300,000,000 for
$200,000,000 in cl. (C), and $200,000,000 for $100,000,000 in cl. (D).

1966—Subsec. (b). Pub.
L. 89–779substituted “a Deputy Administrator and three Associate
Administrators (including the Associate Administrator specified in section 671 of this
title)” for “three Deputy Administrators” as the officers to be appointed by the
Administrator to assist in the execution of the functions vested in the
Administration, and inserted provision that the Deputy Administrator shall be
acting Administrator of the Administration during the absence or disability of
the Administrator or in the event of a vacancy in the office of the
Administrator.

Subsec. (c). Pub.
L. 89–409, § 1, increased by $125 million the appropriation
authorization for the single SBA fund from $1,841 million to $1,966 million and
the authorization for outstanding loans and commitments for regular business
loans, disaster loans, and prime contract authority from $1,375 million to
$1,500 million.

Pub.
L. 89–409, § 2, provided for a disaster loan fund and business loan and
investment fund in place of one prior SBA fund, incorporated existing provisions
in par. (2), provided for allocation of unexpended balances of appropriations
for prior single fund and for an appropriation authorization in par. (3),
removed disaster loans from any limitation, provided limitations in par. (4) of
$1,400 million for regular business loans, displaced business disaster loans,
trade adjustment loans, prime contract authority, and loans under title IV of
the Economic Opportunity Act of 1964, $400 million for small business investment
companies, $200 million for loans to State and local development companies, $100
million for loans under title IV of the Economic Opportunity Act of 1964,
incorporated existing reporting provisions in par. (4), including additional
requirement of inclusion of recommendations whenever 75 percent of any ceiling
in outstanding obligations is exceeded, required establishment of business-type
loans, and incorporated existing provisions in par. (6).

1965—Subsec. (c). Pub.
L. 89–334substituted “$1,841,000,000” for “$1,721,000,000”.

Pub.
L. 89–117substituted “$1,721,000,000” for “$1,716,000,000” and inserted
proviso that the limitation imposed by fifth sentence concerning the maximum
aggregate permitted to be outstanding from the fund for functions under the
Small Business Investment Act of 1958 be inapplicable to functions under title
IV thereof.

Pub.
L. 89–78increased from $341,000,000 to $461,000,000 the limit on the
aggregate permissible amount outstanding from the fund at any time for the
exercise of the functions of the Administration under the Small Business
Investment Act of 1958.

Pub.
L. 89–59inserted references to section 636 (c)(2)
in first sentence and in fourth sentence, where first appearing and in cl. (2)
thereof, and increased the authorized appropriations to the revolving fund from
$1,666,000,000 to $1,716,000,000 and the aggregate amount outstanding at any one
time for regular business loans, disaster loans, and prime contract authority
from $1,325,000,000 to $1,375,000,000.

1962—Subsec. (c). Pub.
L. 87–550increased the authorized appropriations to the revolving fund from
$1,200,000,000 to $1,666,000,000, and the aggregate amount outstanding for
purposes of sections 636 (a),
636 (b),
and 637 (a)
of this title from $875,000,000 to $1,325,000,000, and for functions under the
Small Business Investment Act of 1958 from $325,000,000 to $341,000,000 directed
that appropriations to the revolving fund shall remain available until expended,
required all repayments of loans and debentures, payments of interest, and other
receipts arising out of transactions financed from the fund to be paid into the
fund, and a report to Congressional committees whenever the aggregate amount
outstanding for the purposes of sections 636 (a)
and 637 (a)
of this title exceeds $1,222,000,000, or for the purpose of section 636 (b)
of this title exceeds $103,000,000, changed the method of computing interest
paid into miscellaneous receipts by substituting provisions requiring payment,
following the close of each fiscal year, of interest on the outstanding cash
disbursements from the fund, at rates determined by the Secretary of the
Treasury, taking into consideration the current average yields on outstanding
interest-bearing marketable public debt obligations of the United States of
comparable maturities as calculated for the month of June preceding such fiscal
year, for provisions which required payment of interest, at the close of each
fiscal year, on the net amount of cash disbursements from advances at a rate
determined by the Secretary of the Treasury, taking into consideration the
current average rate on outstanding interest-bearing marketable public debt
obligations of the United States of comparable maturities, and eliminated
provisions which authorized advances from the revolving fund when requested by
the Administration.

1961—Subsec. (c). Pub.
L. 87–341, among other changes, substituted “$1,200,000,000” for
“$1,125,000,000” wherever appearing, and “$325,000,000” for “$250,000,000”.

Pub.
L. 87–305substituted “$1,125,000,000” for “$1,020,000,000” wherever
appearing, and “$725,000,000” for “$595,000,000”.

Pub.
L. 87–198substituted “$1,020,000,000” for “$1,000,000,000” wherever
appearing, and “$595,000,000” for “$575,000,000”.

Pub.
L. 87–70substituted “$1,000,000,000” for “$975,000,000” wherever appearing,
and “$150,000,000” for “$125,000,000”.

1959—Subsec. (c). Pub.
L. 86–367substituted “$975,000,000” for “$900,000,000” wherever appearing,
and “$575,000,000” for “$500,000,000”.

1958—Subsec. (c). Pub.
L. 85–699substituted “$900,000,000” for “$650,000,000” wherever appearing,
and inserted provisions authorizing the revolving fund to be used in the
exercise of the functions of the Administration under the Small Business
Investment Act of 1958, and providing that not more than an aggregate of
$250,000,000 shall be outstanding at any one time for the exercise of the
functions under the Small Business Investment Act of 1958.

Change of Name

Committee on Small Business of Senate changed to Committee
on Small Business and Entrepreneurship of Senate. See Senate Resolution No. 123,
One Hundred Seventh Congress, June 29, 2001. Previously, Select Committee on
Small Business of Senate became Committee on Small Business of Senate. See
Senate Resolution No. 101, Ninety-Seventh Congress, Mar. 25, 1981.

Effective Date of 2008 Amendment

Amendment of this section and repeal of Pub.
L. 110–234by Pub.
L. 110–246effective May 22, 2008, the date of enactment of Pub.
L. 110–234, see section 4 ofPub.
L. 110–246, set out as an Effective Date note under section 8701 of Title 7, Agriculture.

Termination Date of 2004 Amendment

Pub.
L. 108–447, div. K, title I, § 132(c),Dec. 8, 2004, 118
Stat. 3453, provided that: “The amendments made by this section [amending
this section and section 637 of this title] are
repealed on October 1, 2006.”

Effective Date of 1996 Amendment

Pub.
L. 104–208, div. D, § 3,Sept. 30, 1996, 110
Stat. 3009–725, provided that: “Except as otherwise expressly provided, this
Act [probably should be “division”, see Short Title of 1996 Amendment note set
out under section 631 of this title] and
the amendments made by this Act shall take effect on October 1, 1996.”

Effective Date of 1990 Amendments

Pub.
L. 101–574, title II, § 221(b),Nov. 15, 1990, 104
Stat. 2823, provided that: “The amendments made by subsection (a) [amending
this section] shall apply to any vacancy in the position of Deputy Administrator
of the Small Business Administration after the date of the enactment of this Act
[Nov. 15, 1990].”

Pub.
L. 101–515, § 1(b),Nov. 5, 1990, 104
Stat. 2140, provided that: “The provisions of subsection (a) of this section
[amending this section] shall apply to any vacancy in the position of Deputy
Administrator of the Small Business Administration after the effective date of
this Act [Nov. 5, 1990].”

Effective Date of 1989 Amendment

Amendment by Pub.
L. 101–37applicable as if included in Pub.
L. 100–656, see section 32 ofPub.
L. 101–37, set out as a note under section 631 of this title.

Effective Date of 1988 Amendment

Amendment by Pub.
L. 100–656effective Aug. 15, 1989, see section 803(b)(1)(C) ofPub.
L. 100–656, as amended, set out as a note under section 631 of this title.

Effective and Termination Dates of 1984 Amendments

Pub.
L. 98–362, § 7,July 16, 1984, 98
Stat. 434, as amended by Pub.
L. 100–590, title I, § 131(a),Nov. 3, 1988, 102
Stat. 3004; Pub.
L. 101–515, title V, § 11,Nov. 5, 1990, 104
Stat. 2145; Pub.
L. 101–574, title II, § 212,Nov. 15, 1990, 104
Stat. 2821; Pub.
L. 102–140, title VI, § 609(g),Oct. 28, 1991, 105
Stat. 826; Pub.
L. 102–366, title II, § 225,Sept. 4, 1992, 106
Stat. 1001; Pub.
L. 103–403, title IV, § 401(b),Oct. 22, 1994, 108
Stat. 4190, provided that:

“(a) This Act [amending this section and sections 632 and 637 of this title and
enacting provisions set out as notes under this section and sections 631 and 637 of this title]
shall take effect on October 1, 1984.

“(b) The amendments made to section 4(b)(3) of the Small
Business Act [15 U.S.C. 633
(b)(3)]
by section 3 of this Act are repealed on October 1, 1988. The amendments made to
section 8(b)(1)(A) of the Small Business Act [15 U.S.C. 637 (b)(1)(A)]
by section 5(a)(2) of this Act are repealed on October 1, 1994. Nothing in this
section shall preclude the Administrator from continuing such committee under
the authority of section 8(b)(3) of the Small Business Act and the Federal
Advisory Committee Act [5 U.S.C. App.].”

[Section 401(b) ofPub.
L. 103–403, which directed that section 7(b) ofPub.
L. 98–362, set out above, be amended in the second sentence by striking out
“and the amendments made to section 8(b)(1)(A) of the Small Business Act by
section 5(a)(2) of this Act are” and inserting “is”, could not be executed,
because the language sought to be struck out begins with “The amendments” and
not “and the amendments”, and because the amendment would result in an
incomplete sentence.]

Amendment by Pub.
L. 98–270effective Oct. 1, 1983, see section 313 ofPub.
L. 98–270, set out as an Effective Date of 1984 Amendments note under
section 632 of this title.

Effective Date of 1981 Amendment

Amendment by sections 1908 and 1913(b) ofPub.
L. 97–35effective Oct. 1, 1981, and amendment by section 1915 ofPub.
L. 97–35effective Aug. 13, 1981, but not to affect any financing made,
obligated, or committed under this chapter or chapter 14B of this
title prior to Aug. 13, 1981, see section 1918 ofPub.
L. 97–35, set out as a note under section 631 of this title.

Effective Date of 1980 Amendment

Amendment by Pub.
L. 96–302effective Oct. 1, 1980, see section 507 ofPub.
L. 96–302, set out as a note under section 631 of this title.

Effective Date of 1977 Amendment

Pub.
L. 95–89, title I, § 106,Aug. 4, 1977, 91
Stat. 557, provided that: “This title [amending this section, sections 636, 694, 694–2, and
694c of
this title, and provisions set out as a note under section 631 of this title]
shall become effective on October 1, 1977.”

Effective Date of 1970 Amendments

For effective date of amendment by Pub.
L. 91–597, see section 29 ofPub.
L. 91–597, set out as a note under section 1031 of Title 21, Food and Drugs.

Amendment by Pub.
L. 91–596effective 120 days after Dec. 29, 1970, see section 34 ofPub.
L. 91–596, set out as a note under section 651 of Title 29, Labor.

Effective Date of 1966 Amendment

Pub.
L. 89–409, § 2,May 2, 1966, 80
Stat. 132, provided that the amendment made by that section is effective
July 1, 1966.

Termination of Trust Territory of the Pacific
Islands

For termination of Trust Territory of the Pacific Islands,
see note set out preceding section 1681 of Title 48, Territories and Insular
Possessions.

Transfer of Functions

Functions, powers, and duties of Office of Audits and
Investigations in Small Business Administration transferred to Office of
Inspector General in Small Business Administration, as established by Pub.
L. 95–452, § 2,Oct. 12, 1978, 92
Stat. 1101, set out in the Appendix to Title 5, Government Organization and
Employees. See section 9(a)(1)(T) ofPub.
L. 95–452set out in the Appendix to Title 5.

Loan Policy Board, provided for in subsec. (d) of this
section, abolished and functions, including functions of chairman and other
officers, transferred to Administrator of Small Business Administration by
sections 11(b) and 13(a) of Reorg. Plan No. 4 of 1965, eff. July 27, 1965, 30 F.R. 9353, 79
Stat. 1321, set out in the Appendix to Title 5.

Administrator’s Order

Pub.
L. 106–50, title VII, § 701,Aug. 17, 1999, 113
Stat. 249, provided that: “The Administrator of the Small Business
Administration shall strengthen and reissue the Administrator’s order regarding
the third sentence of section 4(b)(1) of the Small Business Act (15 U.S.C. 633
(b)(1)),
relating to nondiscrimination and special considerations for veterans, and take
all necessary steps to ensure that its provisions are fully and vigorously
implemented.”

Completion of Planning for Loan Monitoring System

Pub.
L. 105–135, title II, § 233,Dec. 2, 1997, 111
Stat. 2607, provided that:

“(a) In General.—The Administrator shall perform and
complete the planning needed to serve as the basis for funding the development
and implementation of the computerized loan monitoring system, including—

“(1) fully defining the system requirement using on-line,
automated capabilities to the extent feasible;

“(2) identifying all data inputs and outputs necessary for
timely report generation;

“(3) benchmark loan monitoring business processes and
systems against comparable industry processes and, if appropriate, simplify or
redefine work processes based on these benchmarks;

“(4) determine data quality standards and control systems
for ensuring information accuracy;

“(5) identify an acquisition strategy and work increments to
completion;

“(6) analyze the benefits and costs of alternatives and use
to demonstrate the advantage of the final project;

“(7) ensure that the proposed information system is
consistent with the agency’s information architecture; and

“(8) estimate the cost to system completion, identifying the
essential cost element.

“(b) Report.—

“(1) In general.—On the date that is 6 months after the date
of enactment of this Act [Dec. 2, 1997], the Administrator shall submit a report
on the progress of the Administrator in carrying out subsection (a) to—

“(A) the Committees; and

“(B) the Comptroller General of the United States.

“(2) Evaluation.—Not later than 28 days after receipt of the
report under paragraph (1)(B), the Comptroller General of the United States
shall—

“(A) prepare a written evaluation of the report for
compliance with subsection (a); and

“(B) submit the evaluation to the Committees.

“(3) Limitation.—None of the funds provided for the purchase
of the loan monitoring system may be obligated or expended until 45 days after
the date on which the Committees and the Comptroller General of the United
States receive the report under paragraph (1).”

Associate Administrator for Minority Small Business and
Capital Ownership Development

Pub.
L. 100–656, title IV, § 401(b),Nov. 15, 1988, 102
Stat. 3873, as amended by Pub.
L. 101–37, § 11(b),June 15, 1989, 103
Stat. 73, provided that: “The position of Associate Administrator for
Minority Small Business and Capital Ownership Development referred to in
paragraph (1) of section 4(b) of the Small Business Act [15 U.S.C. 633
(b)(1)]
shall be a career reserved position.”

Availability of Funds

Pub.
L. 100–71, title I, July 11, 1987, 101
Stat. 396, provided in part that: “hereafter, notwithstanding any law, rule
or regulation, moneys in any fund established by the Small Business Act [15 U.S.C. 631 et seq.] which are
not needed for current operations shall remain in such funds and shall be
available solely to carry out the provisions and purposes of programs operated
from such funds pursuant to law as provided in appropriations Acts.”

Finding and Purpose of 1984 Amendment

Pub.
L. 98–362, § 2,July 16, 1984, 98
Stat. 431, provided that:

“(a) The Congress hereby finds that—

“(1) there is increased dependency on, and proliferation of,
information technology (including computers, data networks, and other
communication devices) in the small business community;

“(2) such technology has permitted an increase in criminal
activity against small business;

“(3) small businesses in particular frequently lack the
education and awareness of computer security techniques and technologies which
would enable them to protect their computer systems from unauthorized access and
the manipulation or destruction of their computer hardware, software, and stored
data;

“(4) profitmaking organizations have substantial expertise
in computer technology, communications, and management assistance that is not
otherwise available; and

“(5) the use of this expertise in the Small Business
Administration’s training delivery system would improve substantially the
quantity and quality of the agency’s management assistance programs.

“(b) The purposes of this Act [amending this section and
sections 632 and 637 of this title and
enacting provisions set out as notes under this section and sections 631 and 637 of this title] are—

“(1) to improve the management by small businesses of their
information technology,

“(2) to educate and encourage small businesses to protect
such technology from intentional or unintentional manipulation or destruction;
and

“(3) to permit cooperation with profitmaking organizations
in providing management assistance to small business.”

Audit by General Accounting Office of Small Business
Administration; Report to Congress

Pub.
L. 93–386, § 13,Aug. 23, 1974, 88
Stat. 750, directed General Accounting Office to conduct a full-scale audit
of Small Business Administration, including all field offices and to submit
audit to House and Senate not later than six months from Aug. 23, 1974.

Nonavailability of Unobligated Funds After
June 30, 1974

Pub.
L. 93–237, § 1,Jan. 2, 1974, 87
Stat. 1023, provided in part that any additional amounts authorized by Pub.
L. 93–237[amending this section, sections 636 and 639 of this title,
section 1961 of Title 7, Agriculture, and section
3142–1 of Title 42, The Public Health and
Welfare, and enacting provisions set out as notes under this section, section 636 of this
title, and sections 1961 and 1969 of Title 7] which were not obligated
by June 30, 1974, were no longer to be available after that date.

Additional Capital for Revolving Fund

The following acts appropriated additional capital:

1965—$76,000,000—Pub.
L. 89–309, ch. IX, Oct. 31, 1965, 79
Stat. 1151.

$84,000,000—Pub.
L. 89–309, ch. IX, Oct. 31, 1965, 79
Stat. 1151 [effective only upon enactment into law of authorizing
legislation].

$150,000,000—Pub.
L. 89–164, title V, Sept. 2, 1965, 79
Stat. 641.

$100,000,000—Pub.
L. 89–16, title I, ch. IX, Apr. 30, 1965, 79
Stat. 92.

1964—$45,000,000—Pub.
L. 88–635, ch. IX, Oct. 7, 1964, 78
Stat. 1032.

1963—$90,000,000—Pub.
L. 88–245, title V, Dec. 30, 1963, 77
Stat. 798.

1962—$300,000,000—Pub.
L. 87–843, title V, Oct. 18, 1962, 76
Stat. 1102.

$40,000,000—Pub.
L. 87–545, title I, July 25, 1962, 76
Stat. 213.

1961—$160,000,000—Pub.
L. 87–332, Sept. 30, 1961, 75
Stat. 742.

$20,000,000—Pub.
L. 87–125, title IV, Aug. 3, 1961, 75
Stat. 281.

1960—$50,000,000—Pub.
L. 86–451, title III, May 13, 1960, 74
Stat. 102.

1959—$150,000,000—Pub.
L. 86–88, title III, July 13, 1959, 73
Stat. 209.

1958—$200,000,000—Pub.
L. 85–766, ch. II, Aug. 27, 1958, 72
Stat. 867.

$20,000,000—Pub.
L. 85–457, June 13, 1958, 72
Stat. 186.

1957—$100,000,000—Pub.
L. 85–170, ch. II, Aug. 28, 1957, 71
Stat. 428.

$45,000,000—Pub.
L. 85–19, ch. I, Apr. 20, 1957, 71
Stat. 16.

1956—$50,000,000—Act June 20, 1956, ch. 415, title III, 70
Stat. 325.

Business Loan and Investment Fund; Increase in Financing
Functions; Monthly Reports to Congress

Pub.
L. 91–151, title III, Dec. 23, 1969, 83
Stat. 378, provided that: “The Small Business Administration shall promptly
increase the level of its financing functions utilizing the business loan and
investment fund established under section 4(c)(1)(B) of the Small Business Act
(15 U.S.C. 633
(c)(1)(B))
[subsec. (c)(1)(B) of this section] by $70,000,000 above the level prevailing at
the time of enactment of this Act [Dec. 23, 1969]. The Small Business
Administration shall submit to Congress a monthly report of its implementation
of this section.”

Transfer of Funds for Trade Adjustment Loans

Pub.
L. 89–409, § 3(b),May 2, 1966, 80
Stat. 133, provided in part that any unexpended balances of appropriations
heretofore appropriated for the purposes of such section [former section 637a of this
title] were transferred to the business loan and investment fund established by
section 4(c)(1) of the Small Business Act [subsec. (c)(1) of this section].

Such transfer of funds as effective July 1, 1966, see
section 3(c) ofPub.
L. 89–409, set out as Effective Date of 1966 Amendment note under section 636 of this
title.

The table below lists the classification updates, since Jan. 3,
2012, for this section. Updates to a broader range of sections may be
found at the update page for containing chapter, title, etc.

The most recent Classification Table update that we have noticed was
Tuesday, August 13, 2013

An empty table indicates that we see no relevant changes listed in the
classification tables. If you suspect that our system may be missing something,
please double-check with the Office of the Law
Revision Counsel.

How To Use

Multiple entries for a section are listed most recent first, within the
section.

The Session Year indicates which session of Congress was responsible for the
changes classified. The Congress number forms the first part of the Public Law
number; each Congress has two sessions.

Abbreviations used in the Description of Change column:

An empty field implies a standard amendment.

"new" means a new section or new note, or all new text of an existing
section or note.

"nt" means note.

"nt [tbl]" means note [table].

"prec" means preceding.

"fr" means a transfer from another section.

"to" means a transfer to another section.

"omitted" means the section is omitted.

"repealed" means the section is repealed.

"nt ed change" and "ed change" - See the Editorial
Classification Change Table [pdf].

The Public Law field is linked to the development of the law in the Thomas
system at the Library of Congress.

The Statutes at Large field is linked to the text of the law, in the context
of its volume of the Statutes at Large, at the Government Printing Office.
Please note that it takes a while for these pages to get posted, so for very
recent legislation, you need to look at the "enrolled" version at the Thomas site.

The Statutes at Large references have been rendered in the format used as
page numbers in the Public Law web pages to which we link, to facilitate
copy-paste into browser "find on this (web) page" tools. We are still working on
a more direct link facility.

For serious comparison work, we suggest copying all or a portion of the
Public Law text into your favorite text editor, for convenient content traversal
and window control.

Sections with change type "new" are a special case, still under development.
All are now listed, at the title level only.

You will find that occassionally a specific update you notice in a Public Law
listed in a classification table will already have made it into the Code. We
assume this is an artifact of the LRC edit process. The LII does not edit the
LRC content.
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General Reference

Refer to the LRC (Law
Revision Council) for explanations about the US Code from the folks who put
it all together.

You can look for information about what it is and is not, which titles are
positive law, the schedule of Supplements, etc. Under download you can find the source data we use here (GPO locator
files), as well as, PDF files that look just like the paper books (these may be
rather large).

Refer to the Thomas site
for changes that have not yet made it into the classification
tables.

15 USC

Description of Change

Session Year

Public Law

Statutes at Large

This is a list of parts within the Code of Federal Regulations for
which this US Code section provides rulemaking authority.

This list is taken from the Parallel Table of Authorities and
Rules provided by GPO
[Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the
database weekly. More limitations on accuracy are described at the GPO site.

13 CFR - Business Credit and Assistance

13 CFR Part 101
- ADMINISTRATION

13 CFR Part 106
- COSPONSORSHIPS, FEE AND NON-FEE BASED SBA-SPONSORED ACTIVITIES AND GIFTS

13 CFR Part 113
- NONDISCRIMINATION IN FINANCIAL ASSISTANCE PROGRAMS OF SBA—EFFECTUATION OF
POLICIES OF FEDERAL GOVERNMENT AND SBA ADMINISTRATOR

14 CFR - Aeronautics and Space

14 CFR Part
1204 - ADMINISTRATIVE AUTHORITY AND POLICY

33 CFR - Navigation and Navigable Waters

33 CFR Part 25 -
CLAIMS

43 CFR - Public Lands: Interior

43 CFR Part
145

43 CFR Part
3420 - COMPETITIVE LEASING

LII has no control over and does not endorse any external Internet site
that contains links to or references LII.

U.S. Code Toolbox

Wex: Commercial Law:
Overview
@CLS: Clarke
Business Law Institute

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