H.R.3722 - Enhanced New Markets and Expanded Investment in Renewable Energy for Small Manufacturers Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Kirkpatrick, Ann [D-AZ-1] (Introduced 10/06/2009)|
|Committees:||House - Small Business|
|Latest Action:||10/21/2009 Provisions of Measure Incorporated into H.R. 3854. (All Actions)|
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Summary: H.R.3722 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (10/06/2009)
Enhanced New Markets and Expanded Investment in Renewable Energy for Small Manufacturers Act of 2009 - Amends the Small Business Investment Act of 1958 to require (under current law, authorizes) the Administrator of the Small Business Administration (SBA) to participate in the new markets venture capital program (program) (a program under which investment companies provide capital financing to small businesses).
Requires the Administrator, in selecting companies for program participation, to approve at least one company from each SBA geographic region.
Provides for new market capital venture investment in, as well as operational assistance to, small businesses located in low-income geographic areas and engaged primarily in manufacturing.
Makes the SBA definition of "low-income geographic area" the same as the definition of "low-income community" under the Internal Revenue Code.
Expands SBA operational assistance to conditionally-approved companies. Directs the Administrator to grant each such company two years to satisfy capital and other requirements for such assistance.
Provides: (1) a streamlined application process for new market venture capital companies; and (2) a simplified formula for operational assistance grants.
Increases amounts allocated for investment in small businesses located in low-income geographic areas and engaged primarily in manufacturing.
Redesignates (thereby expanding) the SBA's renewable fuel capital investment program as the renewable energy capital investment program. Makes such program permanent (currently a pilot program). Makes eligible under such program all small businesses (under current law, only smaller enterprises). Requires (under current law, authorizes) the Administrator to participate in such program. Increases amounts allocated for operational assistance grants for renewable energy purposes.