S.2040 - Small Business Export Expansion Act of 197996th Congress (1979-1980)
|Sponsor:||Sen. Nelson, Gaylord [D-WI] (Introduced 11/26/1979)|
|Committees:||Senate - Small Business (Select)|
|Latest Action:||Senate - 11/26/1979 Referred to Senate Select Committee on Small Business. (All Actions)|
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Summary: S.2040 — 96th Congress (1979-1980)All Information (Except Text)
Introduced in Senate (11/26/1979)
Small Business Export Expansion Act of 1979 - Title I: Small Business Export Expansion Assistance - Amends the Small Business Act to authorize the Small Business Administration (SBA) to make grants to qualified applicants to encourage the development and implementation of a small business international marketing program. Stipulates that not more than one-third of such grants be used for the purpose of hiring personnel. Sets forth eligibility requirements for applicants.
Requires each small business international marketing program to: (1) have a full-time staff director to manage program activities; (2) have access to export specialists to counsel and assist small business clients; and (3) establish an advisory board of nine members appointed by the Governor of the State in which the applicant is located. Sets forth operational procedures for such advisory board.
Directs the SBA to maintain a central clearinghouse for the collection, dissemination, and exchange of information between small business international marketing programs. Authorizes appropriations through fiscal year 1982 for such programs.
Title II: Export Promotion Centers - Directs the Administrator of SBA, after consultation with specified agencies, to establish an Export Promotion Center in each regional office of the Department of Commerce. Requires the Export-Import Bank of the United States, the Internal Revenue Service, the Overseas Private Investment Corporation, and the SBA to each designate at least one full-time employee to serve as the agency representative in each Center.
Directs the Administrator to report to the Senate Select Committee on Small Business and the House Small Business Committee on the progress made in implementing this title, not later than six months after enactment of this Act. Directs the Administration to establish a plan for the evaluation of the international marketing program to be submitted annually to the appropriate congressional committees.
Title III: Small Business Export Financing Assistance - Authorizes the Administration to make loans to small businesses for export purposes. Provides that in agreements to participate in loans on a deferred basis participation by the Administration shall be 90 percent of the balance of the loan outstanding at the time of disbursement.
Title IV: Small Business Investment Companies - Amends the Small Business Investment Act of 1958 to authorize the Administration to make commitments, by contract, to guarantee qualifying investments by small business investment companies licensed pursuant to this Act. Limits such contracts to specified aggregate amounts of guarantee eligibility. Provides that such guarantees be granted with respect to initial and subsequent (to the effective date of this Act) investments made in eligible small business concerns. States that such guarantees shall not exceed 50 percent of each net investment loss. Directs that such guarantees be granted to such concerns which are or will be engaged in continuous export business operations, giving preference to new-to-export small businesses. Sets forth requirements necessary to qualify for a guarantee of qualifying investments and terms and conditions under which the Administration may void or suspend any such contractual commitments.