S 1196 · 107th Congress 2001–2003, ended

Small Business Investment Company Amendments Act of 2001

Introduced Jul 18, 2001 Originated Senate Became Public Law 107-100 Sponsor Christopher S. Bond R-MO

Fact sheet Spreadsheet

Latest action · Dec 21, 2001 Became Public Law No: 107-100.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedJul 18, 2001
  2. Passed SenateNov 15, 2001
  3. Passed HouseNov 16, 2001
  4. To the PresidentDec 14, 2001
  5. Became lawDec 21, 2001Public Law 107-100

Summary

Small Business Investment Company Amendments Act of 2001 - Amends the Small Business Investment Act of 1958 to: (1) increase the amount that the Small Business Administration (SBA) may charge as a subsidy fee for guaranteeing the payment of a debenture from 1.0 to 1.38 percent of the debenture amount; and (2) extend through FY 2001 the debenture maturity period.

(Sec. 4) Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to provide civil penalties for false statements or representations of securities for purposes of influencing SBA actions.

(Sec. 5) Authorizes the SBA Administrator to serve upon any management official (currently, only upon a director or officer of a licensee) a written notice of the SBA's intention to remove such official for violations of SBIA or for breach of duty. Revises removal requirements, including provisions concerning hearings, issuance of an order of removal, the authority to suspend or prohibit the business participation of a management official, judicial review of suspensions, and the authority to suspend a management official due to the commission of or participation in a felony involving dishonesty or a breach of trust.

(Sec. 6) Reduces, for a two-year period beginning on October 1, 2002: (1) the guarantee fee for SBA-guaranteed loans to small businesses; (2) the annual fee charged for such loans; and (3) the fee charged for the SBA guaranty of the payment of principal and interest on debentures issued by a qualified State or local development company. Prohibits the SBA, with respect to the latter fee, from charging any up-front fee with respect to such loans during such two-year period. Provides for the budgetary treatment of loans and financings made to small businesses during such period. Makes this section effective only upon the availability of appropriated funds to offset the cost of such amendments.

Cosponsors 1

Members who signed on, in the order they did. All signed on Jul 18, 2001.

SeatCosponsorSigned on
D-MAJohn F. KerryOriginalJul 18, 2001

Committees 1

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
SenateSmall Business and Entrepreneurship Committee
Referred Jul 18, 2001Markup Jul 19, 2001Reported Aug 28, 2001

Actions 25

Everything that happened, newest first.

  1. Dec 21, 2001Signed by President.
  2. Dec 21, 2001Became Public Law No: 107-100.
  3. Dec 14, 2001Presented to President.
  4. Dec 11, 2001Mr. Manzullo moved that the House suspend the rules and agree to the Senate amendment to the House amendment.
  5. Dec 11, 2001DEBATE - The House proceeded with forty minutes of debate on the motion.
Show all 25 actions

In the Congressional Record 6

Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.

WhereIn the RecordMembersDate
SenateDebate and remarks S4189Christopher S. Bond R-MOMay 10, 2002
HouseDebate and remarks H9193–H9195Amendments H9193Danny K. Davis D-IL, Donald A. Manzullo R-IL, Nydia M. Velázquez D-NYDec 11, 2001
SenateDebate and remarks S12740–S12744Text printed S12740–S12742Amendments S12734, S12740, S12742Christopher S. Bond R-MO (amendment), Harry Reid D-NV, John F. Kerry D-MA (amendment)Dec 7, 2001
HouseDebate and remarks H8316–H8320Text printed H8317Amendments H8318Donald A. Manzullo R-IL (amendment), Nydia M. Velázquez D-NYNov 16, 2001
SenateDebate and remarks S11923–S11926Text printed S11925Amendments S11923, S11963Christopher S. Bond R-MO (amendment), Harry Reid D-NV, John F. Kerry D-MA (amendment)Nov 15, 2001
SenateDebate and remarks S7875, S7882Summaries S7883Christopher S. Bond R-MO, John F. Kerry D-MAJul 18, 2001

Research

What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.

Committee report

Congressional Budget Office cost estimates 4

  1. Dec 17, 2001S. 1196, Small Business Investment Company Amendments Act of 2001<p>Pay-as-you-go estimate for the bill as cleared by the Congress on December 11, 2001</p>
  2. Dec 17, 2001S. 1196, Small Business Investment Company Amendments Act of 2001Pay-as-you-go estimate for the bill as cleared by the Congress on December 11, 2001
  3. Aug 16, 2001S. 1196, Small Business Investment Company Amendments Act of 2001<p>Cost estimate for the bill as ordered reported by the Senate Committee on Small Business and Entrepreneurship on July 19, 2001</p>
  4. Aug 16, 2001S. 1196, Small Business Investment Company Amendments Act of 2001Cost estimate for the bill as ordered reported by the Senate Committee on Small Business and Entrepreneurship on July 19, 2001

Printed hearings 3

Hearings whose printed record names this bill, newest first: hearings on it, and wider hearings where it came up.

NumberHearingCommitteeHeld
Serial No. 107-47SUBSIDY RATE CALCULATION: AN UNFAIR TAX ON SMALL BUSINESS89 pagesSmall Business CommitteeMar 13, 2002
S. Hrg. 107-694THE SBA FISCAL YEAR 2003 BUDGET AND THE NOMINATION OF MELANIE R. SABELHAUS TO BE DEPUTY ADMINISTRATOR OF THE U.S. SMALL BUSINESS ADMINISTRATION395 pagesSmall Business and Entrepreneurship CommitteeFeb 27, 2002–Mar 12, 2002
Serial No. 107-43THE PRESIDENT'S PROPOSED BUDGET FOR THE SMALL BUSINESS ADMINISTRATION FISCAL YEAR 2003122 pagesSmall Business CommitteeFeb 13, 2002

CRS reports 6

Congressional Research Service work that CRS links to this bill or the law it became, newest first.

Cite it 6

Products on other subjects that cite it, usually among other measures.

Amendments 3

Amendments offered to this bill.

AmendmentDescriptionOffered byStatus
HAmdt 389Amendment in the nature of a substitute.Donald A. Manzullo R-ILOn agreeing to the Manzullo amendment (A001) Agreed to without objection.
SA 2160To amend the bill with respect to subsidy fees.Christopher S. Bond R-MOAmendment SA 2160 agreed to in Senate by Unanimous Consent.
SA 2460To improve the bill.John F. Kerry D-MAAmendment SA 2460 agreed to in Senate by Unanimous Consent.

Titles 5

Every title it has carried, official and short, at each stage.

Official Title as Introduced
A bill to amend the Small Business Investment Act of 1958, and for other purposes.
Short Titles as Introduced
Small Business Investment Company Amendments Act of 2001
Short Titles as Reported to Senate
Small Business Investment Company Amendments Act of 2001
Short Titles as Passed Senate
Small Business Investment Company Amendments Act of 2001
Short Titles as Enacted
Small Business Investment Company Amendments Act of 2001

Subjects

Assigned by the Library of Congress. Policy area: Commerce.

Text 6

Each version as it was printed, newest first.

  1. —Enrolled Bill
  2. Dec 8, 2001Engrossed Amendment Senate
  3. Nov 16, 2001Engrossed Amendment House
  4. Nov 15, 2001Engrossed in Senate
  5. Aug 28, 2001Reported to Senate
  6. Jul 18, 2001Introduced in Senate

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.