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Public Law107th CongressCommerce
S. 1196Became Law

Small Business Investment Company Amendments Act of 2001

This bill became law

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Law

What it doesSummary senate agreed to house amendment with amendment (Dec 8, 2001)

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.

What just happenedDec 21, 2001

Became Public Law No: 107-100.

Who’s behind it

Sen. Bond, Christopher S. [R-MO](R-MO)Sponsor
1 cosponsor1 D
Read on Congress.gov
1cosponsors1committees33actions3amendments28subjects
  1. Dec 21, 2001PresidentE40000

    Became Public Law No: 107-100.

  2. Dec 21, 2001BecameLaw36000

    Became Public Law No: 107-100.

  3. Dec 21, 2001PresidentE30000

    Signed by President.

  4. Dec 21, 2001BecameLaw36000

    Signed by President.

  5. Dec 14, 2001FloorE20000

    Presented to President.

  6. Dec 14, 2001President28000

    Presented to President.

  7. Dec 11, 2001ResolvingDifferencesH41931

    Motion to reconsider laid on the table Agreed to without objection.

  8. Dec 11, 2001ResolvingDifferencesH41610

    On motion that the House suspend the rules and agree to the Senate amendment to the House amendment Agreed to by voice vote. (consideration: CR H9193-9195; text as House agreed to Senate amendment: CR H9193-9194)

  9. Dec 11, 2001NotUsed19500

    Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment to the House amendment Agreed to by voice vote.(consideration: CR H9193-9195; text as House agreed to Senate amendment: CR H9193-9194)

  10. Dec 11, 2001FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on the motion.

  11. Dec 11, 2001ResolvingDifferencesH40140

    Mr. Manzullo moved that the House suspend the rules and agree to the Senate amendment to the House amendment.

  12. Dec 10, 2001Floor

    Message on Senate action sent to the House.

  13. Dec 8, 2001ResolvingDifferences

    Senate concurred in House amendment with an amendment Unanimous Consent. (consideration: CR 12/7/2001 S12740-12745)

  14. Dec 8, 2001NotUsed20500

    Resolving differences -- Senate actions: Senate concurred in House amendment with an amendment Unanimous Consent.(consideration: CR 12/7/2001 S12740-12745)

  15. Nov 27, 2001Floor

    Message on House action received in Senate and at desk: House amendment to Senate bill.

  16. Nov 16, 2001FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  17. Nov 16, 2001FloorH37100

    On passage Passed without objection.

  18. Nov 16, 2001Floor8000

    Passed/agreed to in House: On passage Passed without objection.

  19. Nov 16, 2001FloorH30000

    Considered by unanimous consent. (consideration: CR H8316-8320)

  20. Nov 16, 2001FloorH30200

    Mr. Manzullo asked unanimous consent to take from the Speaker's table and consider.

  21. Nov 16, 2001FloorH15000

    Held at the desk.

  22. Nov 16, 2001Floor

    Message on Senate action sent to the House.

  23. Nov 16, 2001FloorH14000

    Received in the House.

  24. Nov 15, 2001Floor

    Passed Senate with an amendment by Unanimous Consent. (text: CR S11925-11926)

  25. Nov 15, 2001Floor17000

    Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text: CR S11925-11926)

  26. Nov 15, 2001Floor

    Measure laid before Senate by unanimous consent. (consideration: CR S11923-11926)

  27. Aug 28, 2001Calendars

    Placed on Senate Legislative Calendar under General Orders. Calendar No. 143.

  28. Aug 28, 2001Committee

    Committee on Small Business and Entrepreneurship. Reported by Senator Kerry under authority of the order of the Senate of 07/30/2001 without amendment. With written report No. 107-55.

    Small Business and Entrepreneurship Committee
  29. Aug 28, 2001Committee14000

    Committee on Small Business and Entrepreneurship. Reported by Senator Kerry under authority of the order of the Senate of 07/30/2001 without amendment. With written report No. 107-55.

    Small Business and Entrepreneurship Committee
  30. Jul 19, 2001Committee

    Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.

    Small Business and Entrepreneurship Committee
  31. Jul 18, 2001IntroReferral

    Read twice and referred to the Committee on Small Business and Entrepreneurship.

    Small Business and Entrepreneurship Committee
  32. Jul 18, 2001IntroReferralB00100

    Sponsor introductory remarks on measure. (CR S7882-7883)

  33. Jul 18, 2001IntroReferral10000

    Introduced in Senate

Senate agreed to House amendment with amendmentDec 8, 200139
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.

Passed Senate amendedNov 15, 200135
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.

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.

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.

Reported to Senate without amendmentAug 28, 200180
Small Business Investment Company Amendments Act of 2001 - Amends the Small Business Investment Act of 1958 (SBIA) to: (1) increase the amount that the Small Business Administration (SBA) may charge as a subsidy fee for guaranteeing the payment of a debenture from1.0 to 1.28 percent of the debenture amount; and (2) extend through FY 2001 the debenture maturity period.

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.

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.

Introduced in SenateJul 18, 200100
Small Business Investment Company Amendments Act of 2001 - Amends the Small Business Investment Act of 1958 (the Act) to: (1) increase the amount that the Small Business Administration (SBA) may charge as a subsidy fee for guaranteeing the payment of a debenture from1.0 to 1.28 percent of the debenture amount; and (2) extend through FY 2001 the debenture maturity period.

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.

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 such Act or 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.