Page:United States Statutes at Large Volume 106 Part 2.djvu/125

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PUBLIC LAW 102-366—SEPT. 4, 1992 106 STAT. 1005 women, and small business concerns owned and controlled by socially and economically disadvantaged individuals. SEC. 304. DEFINITIONS. For purposes of this subtitle— (1) the term "fiscal year" means the fiscal year of the business firm being surveyed; (2) the term "small business concern" has the same meaning as in section 3 of the Small Business Act (15 U.S.C. 632); (3) the term "small business concern owned and controlled by socially and economically disadvantaged individuals" has the same meaning as in section 8(d)(3)(C) of the Smedl Business Act (15 U.S.C. 637(d)(3)(C)) (as redesignated by section 232(a)(6) of this Act); and (4) the term "small business concern owned and controlled by women" has the same meaning as in section 127(d) of the Small Business Administration Reauthorization and Amendment Act of 1988 (15 U.S.C. 637 note). Subtitle B—Small Business Loan Secondary Market Study SEC. 311. SECONDARY AfARKET FOR LOANS TO SMALL BUSINESSES. 15 USC 634 note. (a) STUDY.— The Secretary of the Treasury, the Director of the Congressional Budget Office, and the Chairman of the Securities and Exchange Commission, in consultation with the Administrator of the Small Business Administration, shall conduct a study of the potential benefits of, and legal, regulatory, and market-based barriers to, developing a secondetry market for loans to small businesses. The study shall include consideration of— (1) market perceptions and the reasons for the slow development of a secondary market for loans to small businesses; (2) any means to standardize loan documents and underwriting for loans to small businesses relating to retail and office space; (3) the probable effects of the development of a secondary market for loans to small businesses on financial institutions and intermediaries, borrowers, lenders, real estate markets, and the credit markets generally; (4) legal and regulatory barriers that may be impeding the development of a secondary market for loans to small businesses; and (5) the risks posed by investments in loans to small businesses. (b) REPORT. — Not later than 1 year after the date of enactment of this Act, the Secretary of the Treasury, the Director of the Congressional Budget Office, and the Chairman of the Securities and Exchange Commission shall transmit to the Congress a report on the results of the study under paragraph (1). The report shall include recommendations for legislation to facilitate the development of a secondary market for loans to small businesses.