104 STAT. 2822 PUBLIC LAW 101-574—NOV. 15, 1990 "(d) In order to qualify for assistance under this title, the development company must demonstrate that the project to be funded is directed toward at least one of the following economic development objectives— "(1) the creation of job opportunities within two years of the completion of the project or the preservation or retention of jobs attributable to the project; "(2) improving the economy of the locality, such as stimulating other business development in the community, bringing new income into the area, or assisting the community in diversifying and stabilizing its economy; or "(3) the achievement of one or more of the following public policy goals: "(A) business district revitalization, "(B) expansion of exports, "(C) expansion of minority business development, "(D) rural development, "(E) enhanced economic competition, including the advancement of technology, plan retooling, conversion to robotics, or competition with imports, "(F) changes necessitated by Federal budget cutbacks, including defense related industries, or "(G) business restructuring arising from Federally mandated standards or policies affecting the environment or the safety and health of employees. If eligibility is based upon the criteria set forth in paragraph (2) or (3), the project need not meet the job creation or job preservation criteria developed by the Administration if the overall portfolio of the development company meets or exceeds such job creation or retention criteria.". (c) SPECIAL LOAN LIMITATIONS.— Section 502 of the Small Business 15 USC 696. Investment Act of 1958 is amended by striking the period at the end of paragraph (2) and by inserting the following: ", except loans meeting the criteria specified in section 501(d)(3) shall be limited to $1,000,000 for each such identifiable small business concern.". SEC. 215. SMALL BUSINESS INVESTMENT COMPANIES. (a) LIMITS IN CASES OF COMMON CONTROL.— (1) IN GENERAL.— The last sentence of section 303(b)(l) of the 15 USC 683. Small Business Investment Act of 1958 is amended to read as follows: "In no event shall the debentures guaranteed and outstanding under this title of any such company or companies which are commonly controlled as determined by the Administration exceed $35,000,000.". 15 USC 683 note. (2) EFFECTIVE DATE.— The amendments made by paragraph (1) shall become effective on July 1, 1991. (b) AMOUNT OF ASSISTANCE. — Section 303 of the Small Business Investment Act of 1958 (15 U.S.C. 683) is amended— (1) by inserting "under the provisions of this title," in paragraph (6) of subsection (c) after "debentures or securities"; and (2) by striking the third sentence in subsection (d). SEC. 216. PILOT PREFERRED SURETY BOND GUARANTEE PROGRAM. (a) SUNSET.—Section 207 of the Small Business Administration 15 USC 694b Reauthorization and Amendment Act of 1988, Public Law 100-590, "°*®- is amended to read as follows:
�
