[Congressional Record (Bound Edition), Volume 145 (1999), Part 2]
[Extensions of Remarks]
[Pages 1773-1774]
[From the U.S. Government Publishing Office, www.gpo.gov]




  SMALL BUSINESS INVESTMENT COMPANY TECHNICAL CORRECTIONS ACT OF 1999

                                 ______
                                 

                               speech of

                    HON. JUANITA MILLENDER-McDONALD

                             of california

                    in the house of representatives

                       Tuesday, February 2, 1999

  Ms. MILLENDER-McDONALD. Mr. Speaker, I am very proud of the 
legislation the Small Business Committee has brought to the floor 
today. Through bipartisan efforts, we were able to unanimously pass 
this bill in the Committee, which will help small business 
entrepreneurs, particularly in urban communities, obtain the necessary 
capital to succeed.
  As a member of the Committee and an original co-sponsor of H.R. 68, I 
would like to briefly explain why this bill is so important to small 
business owners in the 37th district of California and throughout the 
country. This bill will help give small businesses increased access to 
capital by streamlining the operation of the Small Business Investment 
Company program. Access to capital is one of the biggest challenges 
facing small businesses today. It is particularly difficult for women 
business owners who have just 2% of all venture capital.
  This measure will allow SBICs, which are a critical public-private 
partnership helping thousands of small businesses, more flexibility in 
offering loans, a higher amount of available funding, and lower 
interest rates. SBICs have invested nearly $15 billion in long-term 
debt and equity capital to over 90,000 small businesses. As a result, 
companies such as Intel, FedEx, AOL and Staples were able to succeed, 
causing millions of jobs to be created and billions of dollars 
contributed to our economy. Most important to me and my district, are 
the ways in which SBICs have helped small businesses in urban areas 
access the capital they need to grow.
  In 1997, we witnessed several innovative creations as a result of the 
SBIC program--two women owned SBICs and the first Hispanic owned SBIC. 
This growth and expansion will be accelerated with the passage of H.R. 
68. I urge my colleagues to join me in passing this bill and being a 
part of our ongoing efforts to provide more opportunities to serve 
small, minority and women owned businesses and entrepreneurs.

                       SENATE COMMITTEE MEETINGS

  Title IV of Senate Resolution 4, agreed to by the Senate on February 
4, 1977, calls for establishment of a system for a computerized 
schedule of all meetings and hearings of Senate committees, 
subcommittees, joint committees, and committees of conference. This 
title requires all such committees to notify the Office of the Senate 
Daily Digest--designated by the Rules committee--of the time, place, 
and purpose of the meetings, when scheduled, and any cancellations or 
changes in the meetings as they occur.
  As an additional procedure along with the computerization of this 
information, the Office of the Senate Daily Digest will prepare this 
information for printing in the Extensions of Remarks section of the 
Congressional Record on Monday and Wednesday of each week.
  Meetings scheduled for Thursday, February 4, 1999 may be found in the 
Daily Digest of today's Record.

                           MEETINGS SCHEDULED

                               FEBRUARY 5
     8:30 a.m.
       YEAR 2000 TECHNOLOGY PROBLEM
         To hold hearings to examine information technology as it 
           applies to the food sector in the Year 2000.
                                                            SD-192
     9 a.m.
       Small Business
         Business meeting to consider pending committee business; 
           S. 314, to provide for a loan guarantee program to 
           address the Year 2000 computer problems of small 
           business concerns; the proposed Small Business 
           Investment Company Technical Corrections Act of 1999; 
           and the nomination of Phyllis K. Fong, of Maryland, to 
           be Inspector General, Small Business Administration.
                                                           SR-428A

                               FEBRUARY 9
     9:30 a.m.
       Budget
         To resume hearings on the President's proposed budget 
           request for fiscal year 2000.
                                                            SD-608
       Health, Education, Labor, and Pensions
         To hold hearings on proposed legislation authorizing 
           funds for elementary and secondary education programs.
                                                            SD-430
       Armed Services
         To resume hearings on proposed legislation authorizing 
           funds for fiscal year 2000 for the Department of 
           Defense, and the future years defense program.
                                                            SH-216
       Commerce, Science, and Transportation
         To hold hearings on the nomination of Wayne O. Burkes, of 
           Mississippi, to be a Member of the Surface 
           Transportation Board, Department of Transportation; to 
           be followed by a hearing on S. 96, to regulate commerce 
           between and among the several States by providing for 
           the orderly resolution of disputes arising out of 
           computer-based problems related to processing data that 
           includes a 2-digit expression of that year's date.
                                                            SR-253

                              FEBRUARY 10
     9:30 a.m.
       Energy and Natural Resources
         Business meeting to consider pending calendar business.
                                                            SD-366
       Health, Education, Labor, and Pensions
         To hold hearings on Department of Labor budget 
           initiatives.
                                                            SD-430
       Commerce, Science, and Transportation
         Business Meeting to markup S. 82, to authorize 
           appropriations for Federal Aviation Administration.
                                                            SR-253

                              FEBRUARY 11
     8:30 a.m.
       YEAR 2000 TECHNOLOGY PROBLEM
         To hold hearings to examine information technology as it 
           applies to the food sector in the Year 2000.
                                                            SD-192
     9:30 a.m.
       Environment and Public Works
         To hold hearings to examine the President's proposed 
           budget request for fiscal year 2000 for the 
           Environmental Protection Agency.
                                                            SD-406
       Banking, Housing, and Urban Affairs
         Business Meeting to markup S. 313, to repeal the Public 
           Utility Holding Company Act of 1935, and to enact the 
           Public Utility Holding Company Act of 1999, and the 
           proposed Financial Regulatory Relief and Economic 
           Efficiency Act of 1999.
                                                            SD-538
       Health, Education, Labor, and Pensions
         To hold hearings on the proposed budget request for the 
           Department of Education.
                                                            SD-430
       Armed Services
         To resume hearings on proposed legislation authorizing 
           funds for fiscal year 2000 for the Department of 
           Defense, and the future years defense program.
                                                            SH-216
     1 p.m.
       Budget
         To resume hearings on the President's proposed budget 
           request for fiscal year 2000.
                                                            SD-608

                              FEBRUARY 12
     9:30 a.m.
       Budget
         To hold hearings on national defense budget issues.
                                                            SD-608


[[Page 1774]]

                              FEBRUARY 23
     9:30 a.m.
       Health, Education, Labor, and Pensions
         To hold hearings on Department of Education reform 
           issues.
                                                            SD-430

                              FEBRUARY 24
     9:30 a.m.
       Armed Services
       Readiness Subcommittee
         To hold hearings on the National Security ramifications 
           of the Year 2000 computer problem.
                                                            SH-216
       Health, Education, Labor, and Pensions
       Public Health and Safety Subcommittee
         To hold hearings on antimicrobial resistance.
                                                            SD-430
       Health, Education, Labor, and Pensions
       Public Health and Safety Subcommittee
         To hold hearings on.
                                                            SD-430

                              FEBRUARY 25
     9:30 a.m.
       Veterans' Affairs
         To hold joint hearings with the House Committee on 
           Veterans' Affairs to review the legislative 
           recommendations of the Military Order of the Purple 
           Heart, the Fleet Reserve, the Retired Enlisted 
           Association, the Gold Star Wives of America, and the 
           Air Force Sergeants Association.
                                              345, Cannon Building
       Health, Education, Labor, and Pensions
         To hold hearings on protecting medical records privacy 
           issues.
                                                            SD-430
     2 p.m.
       Judiciary
       Antitrust, Business Rights, and Competition Subcommittee
         To hold hearings to review competition and antitrust 
           issues relating to the Telecommunications Act.
                                                            SD-226

                                MARCH 2
     9:30 a.m.
       Veterans' Affairs
         To hold joint hearings with the House Committee on 
           Veterans' Affairs to review the legislative 
           recommendations of the Veterans of Foreign Wars.
                                              345, Cannon Building

                                MARCH 4
     9:30 a.m.
       Veterans' Affairs
         To hold joint hearings with the House Committee on 
           Veterans' Affairs to review the legislative 
           recommendations of the Veterans of World War I of the 
           USA, Non-Commissioned Officers Association, Paralyzed 
           Veterans of America, Jewish War Veterans, and the 
           Blinded Veterans Association.
                                              345, Cannon Building

                                MARCH 10
     9:30 a.m.
       Armed Services
       Readiness Subcommittee
         To hold hearings on the condition of the service's 
           infrastructure and real property maintenance programs 
           for fiscal year 2000.
                                                            SR-236

                                MARCH 17
     10 a.m.
       Veterans' Affairs
         To hold joint hearings with the House Committee on 
           Veterans' Affairs to review the legislative 
           recommendations of the Disabled American Veterans.
                                              345, Cannon Building

                                MARCH 24
     10 a.m.
       Veterans' Affairs
         To hold joint hearings with the House Committee on 
           Veterans' Affairs to review the legislative 
           recommendations of the American Ex-Prisoners of War, 
           AMVETS, Vietnam Veterans of America, and the Retired 
           Officers Association.
                                              345, Cannon Building

                              SEPTEMBER 28
     9:30 a.m.
       Veterans' Affairs
         To hold joint hearings with the House Committee on 
           Veterans' Affairs to review the legislative 
           recommendations of the American Legion.
                                              345, Cannon Building

                             POSTPONEMENTS

                              FEBRUARY 10
     8:30 a.m.
       Judiciary
       Antitrust, Business Rights, and Competition Subcommittee
         To hold hearings to review competition and antitrust 
           issues relating to the Telecom Act.
                                                            SD-226