124 STAT. 2508 PUBLIC LAW 111–240—SEPT. 27, 2010 (b) PROSPECTIVE REPEAL.—Ef fective January 1, 2011, section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended— (1) in paragraph (2)(A)— (A) in clause (i), by striking ‘‘90 percent’’ and inserting ‘‘75 percent’’; and (B) in clause (ii), by striking ‘‘90 percent’’ and inserting ‘‘85 percent’’; and (2) in paragraph (3)(A), by striking ‘‘$4,500,000’’ and inserting ‘‘$3,750,000’’. SEC. 1112. MAXIMUM LOAN AMOUNTS UNDER 504 PROGRAM. Section 502(2)(A) of the Small Business Investment Act of 1958 (15 U.S.C. 696(2)(A)) is amended— (1) in clause (i), by striking ‘‘$1,500,000’’ and inserting ‘‘$5,000,000’’; (2) in clause (ii), by striking ‘‘$2,000,000’’ and inserting ‘‘$5,000,000’’; (3) in clause (iii), by striking ‘‘$4,000,000’’ and inserting ‘‘$5,500,000’’; (4) in clause (iv), by striking ‘‘$4,000,000’’ and inserting ‘‘$5,500,000’’; and (5) in clause (v), by striking ‘‘$4,000,000’’ and inserting ‘‘$5,500,000’’. SEC. 1113. MAXIMUM LOAN LIMITS UNDER MICROLOAN PROGRAM. Section 7(m) of the Small Business Act (15 U.S.C. 636(m)) is amended— (1) in paragraph (1)(B)(iii), by striking ‘‘$35,000’’ and inserting ‘‘$50,000’’; (2) in paragraph (3)— (A) in subparagraph (C), by striking ‘‘$3,500,000’’ and inserting ‘‘$5,000,000’’; and (B) in subparagraph (E), by striking ‘‘$35,000’’ each place that term appears and inserting ‘‘$50,000’’; and (3) in paragraph (11)(B), by striking ‘‘$35,000’’ and inserting ‘‘$50,000’’. SEC. 1114. LOAN GUARANTEE ENHANCEMENT EXTENSIONS. (a) FEES.—Section 501 of the American Recovery and Reinvest- ment Act of 2009 (Public Law 111–5; 123 Stat. 151) is amended by striking ‘‘September 30, 2010’’ each place that term appears and inserting ‘‘December 31, 2010’’. (b) LOAN GUARANTEES.—Section 502(f) of division A of the American Recovery and Reinvestment Act of 2009 (Public Law 111–5; 123 Stat. 153) is amended by striking ‘‘May 31, 2010’’ and inserting ‘‘December 31, 2010’’. SEC. 1115. NEW MARKETS VENTURE CAPITAL COMPANY INVESTMENT LIMITATIONS. Section 355 of the Small Business Investment Act of 1958 (15 U.S.C. 689d) is amended by adding at the end the following: ‘‘(e) INVESTMENT LIMITATIONS.— ‘‘(1) DEFINITION.—In this subsection, the term ‘covered New Markets Venture Capital company’ means a New Markets Ven- ture Capital company— ‘‘(A) granted final approval by the Administrator under section 354(e) on or after March 1, 2002; and Effective date. 15 USC 636 note.
