Additional temporary extension of authorization of programs under the Small Business Act and the Small Business Investment Act of 1958

(a)

In general

Section 1 of the Act entitled An Act to extend temporarily certain authorities of the Small Business Administration, approved October 10, 2006 (Public Law 109–316; 120 Stat. 1742), as most recently amended by section 1 of Public Law 111–43 (123 Stat. 1965), is amended by striking September 30, 2009 each place it appears and inserting October 31, 2009. (b)

Effective date

The amendments made by subsection (a) shall take effect on September 29, 2009.

Business stabilization program

Section 506(c) of title V of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5) is amended by striking but shall not include and all that follows through enactment of this Act.

New markets venture capital company investment limitations

Section 355 of the Small Business Investment Act of 1958 (15 U.S.C. 689d) is amended by adding at the end the following:

(e)

Investment limitations

A New Markets Venture Capital company that is receiving a grant under section 358 may not issue debentures guaranteed by the Administrator for any 1 company in an aggregate amount that is more than 10 percent of the sum of— (1)the private capital of the New Markets Venture Capital company; and (2)the total amount of leverage projected by the New Markets Venture Capital company in the business plan of the New Markets Venture Capital company in effect on the date on which the Administrator granted final approval to operate as a New Markets Venture Capital company under section 354(e).