PUBLIC LAW 106-8—APR. 2, 1999 113 STAT. 13 Public Law 106-^ 106th Congress An Act To provide for a loan guarantee program to address the Year 2000 computer problems Apr. 2, 1999 of smaU business concerns, and for other purposes. [g 314] Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, Small Business Year 2000 SECTION 1. SHORT TITLE. Readiness Act. This Act may be cited as the "Small Business Year 2000 Readiness Act". SEC. 2. FINDINGS. 15 USC 636 note. Congress finds that— (1) the failure of many computer programs to recognize the Year 2000 may have extreme negative financial consequences in the Year 2000, and in subsequent years for both large and small businesses; (2) small businesses are well behind larger businesses in implementing corrective changes to their automated systems; (3) many small businesses do not have access to capital to fix mission critical automated systems, which could result in severe financial distress or failure for small businesses; and (4) the failure of a large number of small businesses due to the Year 2000 computer problem would have a highly detrimental effect on the economy in the Year 2000 and in subsequent years. SEC. 3. YEAR 2000 COMPUTER PROBLEM LOAN GUARANTEE PROGRAM. (a) PROGRAM ESTABLISHED.— Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following: "(27) YEAR 2000 COMPUTER PROBLEM PROGRAM. — "(A) DEFINITIONS.—In this paragraph— "(i) the term 'eligible lender' means any lender designated by the Administration as eligible to participate in the general business loan program under this subsection; and "(ii) the term Tear 2000 computer problem' means, with respect to information technology, and embedded systems, any problem that adversely effects the processing (including calculating, comparing, sequencing, displaying, or storing), transmitting, or receiving of date-dependent data— "(I) from, into, or between— "(aa) the 20th or 21st centuries; or
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