An amendment numbered 11 printed in part C of House Report 111-506 to ensure that state-run venture capital fund programs will be able to qualify as "state other credit support programs," as long as they do not use funds under H.R. 5297 to lend to businesses with more than 750 employees. It would clarify that state-run venture capital fund programs will be able to qualify as "state other credit support programs," as long as they meet all other requirements.

1. 1

   Change 1: Inserts “State-run venture capital fund programs,” after “programs,”

   InsertsPage 30, line 14Printed page

   …programs,[inserted: State-run venture capital fund programs,]…

   Original wording

   Page 30, line 14, after “programs,” insert the following: “State-run venture capital fund programs,”.

2. 2

   Change 2: Replaces “extends credit support that” with “uses Federal funds allocated under this title to extend credit support that”

   ReplacesPage 51, line 3Printed page

   In H.R. 5297 · Reported in House

   (3) for those State other credit support programs that provide their credit support through 1 or more financial institution lenders, requires the financial institution lenders to have a meaningful amount of their own capital resources at risk in their small business lending; and

   Struck: (4) extends credit support that--

   Inserted: (4) uses Federal funds allocated under this title to extend credit support that--

   (A) targets an average borrower size of 500 employees or less;

   Original wording

   Page 51, line 3, strike “extends credit support that” and insert “uses Federal funds allocated under this title to extend credit support that”.

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

As printed