[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 1670 Introduced in Senate (IS)]







107th CONGRESS
  1st Session
                                S. 1670

  To amend the Small Business Investment Act of 1958 with respect to 
                             subsidy fees.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            November 9, 2001

   Mr. Kerry introduced the following bill; which was read twice and 
    referred to the Committee on Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
  To amend the Small Business Investment Act of 1958 with respect to 
                             subsidy fees.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Venture Capital Act 
of 2001''.

SEC. 2. SUBSIDY FEES.

    (a) In General.--Section 303 of the Small Business Investment Act 
of 1958 (15 U.S.C. 683) is amended--
            (1) in subsection (b)--
                    (A) by striking ``of not more than 1 percent per 
                year'';
                    (B) by inserting ``which amount may not exceed 1.38 
                percent per year, and'' before ``which shall be paid''; 
                and
                    (C) by striking ``September 30, 2000'' and 
                inserting ``September 30, 2001''; and
            (2) in subsection (g)(2)--
                    (A) by striking ``of not more than 1 percent per 
                year'';
                    (B) by inserting ``which amount may not exceed 1.38 
                percent per year, and'' before ``which shall be paid''; 
                and
                    (C) by striking ``September 30, 2000'' and 
                inserting ``September 30, 2001''.
    (b) Effective Date.--The amendments made by this section shall 
become effective on October 1, 2001.
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