2021 US Code
Title 15 - Commerce and Trade
Chapter 14B - Small Business Investment Program
Subchapter I - General Provisions
Sec. 661 - Congressional declaration of policy
15 U.S.C. § 661 (2021) |
§661. Congressional declaration of policy |
It is declared to be the policy of the Congress and the purpose of this chapter to improve and stimulate the national economy in general and the small-business segment thereof in particular by establishing a program to stimulate and supplement the flow of private equity capital and long-term loan funds which small-business concerns need for the sound financing of their business operations and for their growth, expansion, and modernization, and which are not available in adequate supply: Provided, however, That this policy shall be carried out in such manner as to insure the maximum participation of private financing sources. It is the intention of the Congress that the provisions of this chapter shall be so administered that any financial assistance provided hereunder shall not result in a substantial increase of unemployment in any area of the country. It is the intention of the Congress that in the award of financial assistance under this chapter, when practicable, priority be accorded to small business concerns which lease or purchase equipment and supplies which are produced in the United States and that small business concerns receiving such assistance be encouraged to continue to lease or purchase such equipment and supplies. |
(Pub. L. 85–699, title I, §102, Aug. 21, 1958, 72 Stat. 689; Pub. L. 102–366, title IV, §416, Sept. 4, 1992, 106 Stat. 1019.) |
EDITORIAL NOTES
REFERENCES IN TEXT
This chapter, referred to in text, was in the original "this Act", meaning Pub. L. 85–699, which enacted this chapter, amended sections 77c, 77ddd, 80a–18, 633 and 636 of this title, and sections 217 [now 212], 218 [now 213], 221 [now 216], 657, 1006 and 1014 of Title 18, Crimes and Criminal Procedure, repealed section 352a of Title 12, Banks and Banking, and enacted notes set out under this section and section 352a of Title 12. Sections 212 and 213 of Title 18, as renumbered by Pub. L. 87–849, were subsequently repealed. For complete classification of this Act to the Code, see Short Title note set out below and Tables. AMENDMENTS1992—Pub. L. 102–366 inserted at end "It is the intention of the Congress that in the award of financial assistance under this chapter, when practicable, priority be accorded to small business concerns which lease or purchase equipment and supplies which are produced in the United States and that small business concerns receiving such assistance be encouraged to continue to lease or purchase such equipment and supplies." STATUTORY NOTES AND RELATED SUBSIDIARIES SHORT TITLE OF 2018 AMENDMENT Pub. L. 115–371, §1, Dec. 21, 2018, 132 Stat. 5106, provided that: This Act [amending section 696 of this title] may be cited as the "Small Business Access to Capital and Efficiency Act" or the "Small Business ACE Act". Pub. L. 115–333, §1, Dec. 19, 2018, 132 Stat. 4488, provided that: "This Act [amending sections 662, 681, and 687 of this title] may be cited as the 'Spurring Business in Communities Act of 2017'." Pub. L. 115–187, §1, June 21, 2018, 132 Stat. 1489, provided that: "This Act [amending section 683 of this title] may be cited as the 'Small Business Investment Opportunity Act of 2017'." SHORT TITLE OF 2004 AMENDMENTPub. L. 108–232, §1, May 28, 2004, 118 Stat. 649, provided that:"This Act [amending section 697e of this title] may be cited as the 'Premier Certified Lenders Program Improvement Act of 2004'." SHORT TITLE OF 2001 AMENDMENTPub. L. 107–100, §1, Dec. 21, 2001, 115 Stat. 966, provided that: "This Act [amending sections 636, 683, 687d, 687e, and 697 of this title, section 1833a of Title 12, Banks and Banking, and section 1014 of Title 18, Crimes and Criminal Procedure, and enacting provisions set out as notes under sections 636, 683, and 697 of this title] may be cited as the 'Small Business Investment Company Amendments Act of 2001'." SHORT TITLE OF 2000 AMENDMENTPub. L. 106–554, §1(a)(8) [§1(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–653, provided that: "This section [enacting part B of subchapter III of this chapter, amending section 683 of this title, section 109 of Title 11, Bankruptcy, and section 1464 of Title 12, Banks and Banking, and amending provisions set out as a note under section 631 of this title] may be cited as the 'New Markets Venture Capital Program Act of 2000'." Pub. L. 106–554, §1(a)(9) [title III, §301], Dec. 21, 2000, 114 Stat. 2763, 2763A–684, provided that: "This title [enacting section 697g of this title, amending sections 695 to 697 and 697e of this title, enacting provisions set out as a note under section 697g of this title, and repealing provisions set out as a note under section 697e of this title] may be cited as the 'Certified Development Company Program Improvements Act of 2000'." Pub. L. 106–554, §1(a)(9) [title IV, §401], Dec. 21, 2000, 114 Stat. 2763, 2763A–690, provided that: "This title [amending sections 662, 682, 683, and 687b of this title] may be cited as the 'Small Business Investment Corrections Act of 2000'." SHORT TITLE OF 1999 AMENDMENTPub. L. 106–9, §1, Apr. 5, 1999, 113 Stat. 17, provided that: "This Act [amending sections 662, 683, 687, and 687m of this title and provisions set out as notes under this section and section 631 of this title] may be cited as the 'Small Business Investment Improvement Act of 1999'." SHORT TITLE OF 1994 AMENDMENTPub. L. 103–403, title V, §501, Oct. 22, 1994, 108 Stat. 4198, provided that: "This title [enacting section 697f of this title and provisions set out as a note under section 697f of this title] may be cited as the 'Small Business Prepayment Penalty Relief Act of 1994'." SHORT TITLE OF 1992 AMENDMENTPub. L. 102–366, title IV, §401, Sept. 4, 1992, 106 Stat. 1007, provided that: "This Act [probably means "This title", amending this section and sections 662, 682, 683, 685 to 687, 687b, and 687l of this title, enacting provisions set out as notes under this section and sections 681 and 687b of this title, and amending provisions set out as a note under section 631 of this title] may be cited as the 'Small Business Equity Enhancement Act of 1992'." SHORT TITLE OF 1988 AMENDMENTPub. L. 100–590, title II, §201, Nov. 3, 1988, 102 Stat. 3007, provided that: "This title [amending sections 694b and 694c of this title and enacting provisions set out as notes under section 694b of this title] may be cited as the 'Preferred Surety Bond Guarantee Program Act of 1988'." SHORT TITLE OF 1972 AMENDMENTPub. L. 92–595, §1, Oct. 27, 1972, 86 Stat. 1314, provided: "That this Act [enacting sections 687i and 687j of this title and amending sections 80a–18, 633, 636, 662, 681, 683, 684, and 686 of this title] may be cited as the 'Small Business Investment Act Amendments of 1972'." SHORT TITLE OF 1967 AMENDMENTPub. L. 90–104, title II, §201, Oct. 11, 1967, 81 Stat. 269, provided that: "This title [amending sections 681, 682, 683, 684, 686, 687, 687b, and 692 of this title] may be cited as the 'Small Business Investment Act Amendments of 1967'." SHORT TITLE OF 1966 AMENDMENTPub. L. 89–779, §1, Nov. 6, 1966, 80 Stat. 1359, provided: "That this Act [enacting sections 687e, 687f, 687g, and 687h of this title and amending sections 633, 671, 687, 687a, 687b, and 687c of this title, and sections 5315 and 5316 of Title 5, Government Organization and Employees] may be cited as the 'Small Business Investment Act Amendments of 1966'." SHORT TITLE OF 1964 AMENDMENTPub. L. 88–273, §1, Feb. 28, 1964, 78 Stat. 146, provided: "That this Act [enacting section 687d and amending sections 682, 686, and 687 of this title] may be cited as the 'Small Business Investment Act Amendments of 1963'." SHORT TITLE OF 1961 AMENDMENTPub. L. 87–341, §1, Oct. 3, 1961, 75 Stat. 752, provided: "That this Act [enacting sections 687a, 687b, and 687c of this title, amending sections 633, 662, 681, 683 to 687, and 696 of this title, and enacting provisions set out as notes under sections 631 and 686 of this title] may be cited as the 'Small Business Investment Act Amendments of 1961'." SHORT TITLE OF 1960 AMENDMENTPub. L. 86–502, §1, June 11, 1960, 74 Stat. 196, provided: "That this Act [amending sections 662, 681, 682, and 684 of this title, and section 26–610 of the District of Columbia Code, 1973 edition] may be cited as the 'Small Business Investment Act Amendments of 1960'." SHORT TITLEPub. L. 85–699, title I, §101, Aug. 21, 1958, 72 Stat. 689, as amended by Pub. L. 106–9, §2(d)(3), Apr. 5, 1999, 113 Stat. 18, provided that: "This Act [enacting this chapter, amending sections 77c, 77ddd, 80a–18, 633 and 636 of this title, and sections 217 [now 212], 218 [now 213], 221 [now 216], 657, 1006 and 1014 of Title 18, Crimes and Criminal Procedure, repealing section 352a of Title 12, Banks and Banking, and enacting notes set out under this section and former section 352a of title 12] may be cited as the 'Small Business Investment Act of 1958'." REGULATIONSPub. L. 102–366, title IV, §415, Sept. 4, 1992, 106 Stat. 1018, provided that: "Notwithstanding any law, rule, regulation or administrative moratorium, except as otherwise expressly provided in this Act [probably means "this title", see Short Title of 1992 Amendment note above], the Small Business Administration shall— "(1) within 90 days after the date of enactment of this Act [Sept. 4, 1992], publish in the Federal Register proposed rules and regulations implementing this Act and the amendments made by this Act; and "(2) within 180 days after the date of enactment of this Act, publish in the Federal Register final rules and regulations implementing this Act, and enter such contracts as are necessary to implement this Act and the amendments made by this Act." Pub. L. 102–366, title IV, §418, Sept. 4, 1992, 106 Stat. 1019, provided that: "Nothing in this Act [probably means "this title", see Short Title of 1992 Amendment note above] (and no amendment made by this Act) shall be construed to affect the applicability of the securities laws, as that term is defined in section 3(a)(47) of the Securities Exchange Act of 1934 [15 U.S.C. 78c(a)(47)], or any of the rules and regulations thereunder, or otherwise supersede or limit the jurisdiction of the Securities and Exchange Commission or the authority at any time conferred under the securities laws." |
United States Code, 2018 Edition, Supplement 3, Title 15 - COMMERCE AND TRADE |
Bills and Statutes |
United States Code |
Y 1.2/5: |
Title 15 - COMMERCE AND TRADE CHAPTER 14B - SMALL BUSINESS INVESTMENT PROGRAM SUBCHAPTER I - GENERAL PROVISIONS Sec. 661 - Congressional declaration of policy |
section 661 |
2021 |
January 3, 2022 |
No |
standard |
"Small Business Access to Capital and Efficiency Act" "Small Business ACE Act". 'Spurring Business in Communities Act of 2017'." 'Small Business Investment Opportunity Act of 2017'." 'Premier Certified Lenders Program Improvement Act of 2004'." 'Small Business Investment Company Amendments Act of 2001'." 'New Markets Venture Capital Program Act of 2000'." 'Certified Development Company Program Improvements Act of 2000'." 'Small Business Investment Corrections Act of 2000'." 'Small Business Investment Improvement Act of 1999'." 'Small Business Prepayment Penalty Relief Act of 1994'." 'Small Business Equity Enhancement Act of 1992'." 'Preferred Surety Bond Guarantee Program Act of 1988'." 'Small Business Investment Act Amendments of 1972'." 'Small Business Investment Act Amendments of 1967'." 'Small Business Investment Act Amendments of 1966'." 'Small Business Investment Act Amendments of 1963'." 'Small Business Investment Act Amendments of 1961'." 'Small Business Investment Act Amendments of 1960'." 'Small Business Investment Act of 1958'." |
72 Stat. 689 74 Stat. 196 75 Stat. 752 78 Stat. 146 80 Stat. 1359 81 Stat. 269 86 Stat. 1314 102 Stat. 3007 106 Stat. 1019, 1007, 1018 108 Stat. 4198 113 Stat. 17, 18 114 Stat. 2763 115 Stat. 966 118 Stat. 649 132 Stat. 1489, 4488, 5106 |
Public Law 85-699, Public Law 86-502, Public Law 87-341, Public Law 87-849, Public Law 88-273, Public Law 89-779, Public Law 90-104, Public Law 92-595, Public Law 100-590, Public Law 102-366, Public Law 103-403, Public Law 106-9, Public Law 106-554, Public Law 107-100, Public Law 108-232, Public Law 115-187, Public Law 115-333, Public Law 115-371 |