[Congressional Record Volume 167, Number 88 (Thursday, May 20, 2021)]
[Senate]
[Page S3303]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1908. Mr. CARDIN submitted an amendment intended to be proposed by 
him to the bill S. 1260, to establish a new Directorate for Technology 
and Innovation in the National Science Foundation, to establish a 
regional technology hub program, to require a strategy and report on 
economic security, science, research, innovation, manufacturing, and 
job creation, to establish a critical supply chain resiliency program, 
and for other purposes; which was ordered to lie on the table; as 
follows:

        At the appropriate place, insert the following:

     SEC. __. REINSTATING SPECIALIZED SMALL BUSINESS INVESTMENT 
                   COMPANIES.

       Section 301 of the Small Business Investment Act of 1958 
     (15 U.S.C. 681) is amended by inserting after subsection (c) 
     the following:
       ``(d) Specialized Small Business Investment Companies.--
       ``(1) In general.--Notwithstanding any other provision of 
     this Act, a small business investment company, the investment 
     policy of which is that its investments will be made solely 
     in small business concerns located in an area described in 
     paragraph (2) may be--
       ``(A) organized and chartered under State business or 
     nonprofit corporation statutes, or formed as a limited 
     partnership; and
       ``(B) licensed by the Administration to operate under the 
     provisions of this Act.
       ``(2) Areas.--The areas described in this paragraph are--
       ``(A) a community that has been designated as a qualified 
     opportunity zone under section 1400Z-1 of the Internal 
     Revenue Code of 1986;
       ``(B) a HUBZone, as defined in section 31(b) of the Small 
     Business Act (15 U.S.C. 657a(b)); and
       ``(C) any census tract or other area that is treated as a 
     low-income community for purposes of section 45D of the 
     Internal Revenue Code of 1986.''.
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