2016 US Code
Title 15 - Commerce and Trade
Chapter 14B - Small Business Investment Program
Subchapter III - Investment Division Programs
Part B - New Markets Venture Capital Program
Sec. 689a - Purposes
| 15 U.S.C. § 689a (2016) |
| §689a. Purposes |
|
The purposes of the New Markets Venture Capital Program established under this part are— (1) to promote economic development and the creation of wealth and job opportunities in low-income geographic areas and among individuals living in such areas by encouraging developmental venture capital investments in smaller enterprises primarily located in such areas; and (2) to establish a developmental venture capital program, with the mission of addressing the unmet equity investment needs of small enterprises located in low-income geographic areas, to be administered by the Administrator— (A) to enter into participation agreements with New Markets Venture Capital companies; (B) to guarantee debentures of New Markets Venture Capital companies to enable each such company to make developmental venture capital investments in smaller enterprises in low-income geographic areas; and (C) to make grants to New Markets Venture Capital companies, and to other entities, for the purpose of providing operational assistance to smaller enterprises financed, or expected to be financed, by such companies. |
|
(Pub. L. 85–699, title III, §352, as added Pub. L. 106–554, §1(a)(8) [§1(b)(3)], Dec. 21, 2000, 114 Stat. 2763, 2763A–655.) |
| United States Code, 2012 Edition, Supplement 4, 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 III - INVESTMENT DIVISION PROGRAMS Part B - New Markets Venture Capital Program Sec. 689a - Purposes |
| section 689a |
| 2016 |
| January 6, 2017 |
| No |
| standard |
| 114 Stat. 2763 |
| Public Law 85-699, Public Law 106-554 |
