An amendment numbered 13 printed in Part B of House Report 111-317 to increase the maximum amount of stabilization loans in high unemployment areas to $75,000 and delays repayment of stabilization loans in high unemployment areas to 18 months for new loans made after enactment of this act. It would give the SBA administrator ability to designate high unemployment areas as eligible for operating assistance grants under the new market venture capital program.

1. 1

   Change 1: Replaces “$50,000” with “$50,000 (except as provided under subsection (l))”

   ReplacesPage 29, line 14Printed page

   [struck: $50,000][inserted: $50,000 (except as provided under subsection (l))]

   Original wording

   Page 29, line 14, strike “$50,000” and insert the following “$50,000 (except as provided under subsection (l))”.

2. 2

   Change 2: Adds SEC. 119. DELAYED REPAYMENT FOR SMALL BUSINESS CONCERNS IN AREAS WITH HIGH UNEMPLOYMENT on page 29, line 19

   Adds a sectionPrinted page

   Inserted: SEC. 119. DELAYED REPAYMENT FOR SMALL BUSINESS CONCERNS IN AREAS WITH HIGH UNEMPLOYMENT.

   Inserted: Section 506 of title V of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111-5) is amended by adding at the end the following:

   Inserted: "(l) Small Business Concerns in Areas With High Unemployment.--

   Inserted: "(1) Increase loan limits.--Notwithstanding subsection (d), a loan made under this section to a small business concern in what the Administrator determines to be an area with high unemployment may not exceed $75,000.

   Inserted: "(2) Delayed repayment.--Notwithstanding subsection (g), repayment for a loan made under this section after the date of the enactment of the Small Business Financing and Investment Act of 2009 to a small business concern described in paragraph (1) shall not begin until 18 months after the final disbursement of funds is made.".

   Original wording

   Page 29, after line 19, insert the following (and redesignate succeeding sections accordingly):

3. 3

   Change 3: Inserts “, except that, without regard to such meaning, such term includes an area that the Admini…” after “of 1986”

   InsertsPage 156, line 12Printed page

   …of 1986[inserted: , except that, without regard to such meaning, such term includes an area that the Administrator determines to be an area with high unemployment]…

   Original wording

   Page 156, line 12, insert after “of 1986” the following: “, except that, without regard to such meaning, such term includes an area that the Administrator determines to be an area with high unemployment”.

Read automatically from the Congressional Record. Check the original before relying on it.

As printed