Page:United States Statutes at Large Volume 90 Part 1.djvu/715

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PUBLIC LAW 94-000—MMMM. DD, 1976

PUBLIC LAW 94-305—JUNE 4, 1976 "(4) such other provisions, not inconsistent with the purposes of this section as the Administrator may in his discretion require. "(e) Any guarantee issued under this section may be assigned with the permission of the Administration by the person to whom the payments under qualified contracts are due. "(f) Section 402 shall apply to the administration of this section. "SEC. 405. There is hereby created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitations as a revolving fund for the purposes of section 404. There are authorized to be appropriated to the fund from time to time such amounts not to exceed $15,000,000 to provide capital for the fund. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with section 404 shall be deposited in the fund. All expenses and payments pursuant to operations of the Administrator under section 404 shall be paid from the fund. From time to time, and at least at the close of each fiscal year, the Administrator shall pay from the fund into the Treasury as miscellaneous receipts interest at a rate determined by the Secretary of the Treasury on the cumulative amount of appropriations available as capital to the fund, less the average undisbursed cash balance in the fund during the year. The rate of such interest shall be determined by the Secretary of the Treasury, and shall not be less than a rate determined by taking into consideration the average market yield during the month preceding each fiscal year on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the average maturity of guarantees from the fund. Moneys in the fund not needed for the payment of current operating expenses or for the payment of claims arising under section 404 may be invested in bonds or other obligations of, or bonds or other obligations guaranteed as to principal and interest by, the United States; except that moneys provided as capital for the fund shall not be so invested.". SEC, 103. Section 403 of the Small Business Investment Act of 1958 (15 U.S.C. 694) is amended b j striking out "this part" wherever it appears therein and by inserting in lieu thereof "section 401".

90 STAT. 665

15 USC 693. Fund. Establishment. 15 USC 694-2. Ante, p. 663. Appropriation authorization.

Interest.

SMALL BUSINESS INVESTMENT COMPANY LEVERAGE

SEC. 104. (a) Section 303(b)(1) of the Small Business Investment 15 USC 683. Act of 1958 is amended— (1) by striking out "200" and inserting in lieu thereof "300"; and (2) by striking out "$15,000,000" and inserting in lieu thereof "$35,000,000". (b) Section 303(b)(2) of such Act is amended— (1) by striking out "300" and inserting in lieu thereof "400"; and (2) by striking out "$20,000,000" and inserting in lieu thereof "$35,000,000". (c) Section 303(c) of such Act is amended— (1) by striking out "300" in clause (2) (iii) and inserting in lieu thereof "400"; and (2) by striking out "200" where it appears in clauses (2) (iii) and (4) and inserting in lieu thereof "300".