§ 694c. Revolving fund for surety bond guarantees

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1974

   Pub. L. 85–699 title IV § 412 · 72 Stat. 689

   Enacted · 15 U.S.C. § 694c

   Pub. L. 85–699, title IV, § 412, as added Pub. L. 93–386, § 6(a)(4), Aug. 23, 1974, 88 Stat. 747

   Source evidence

   Code source credit
   Pub. L. 85–699, title IV, § 412, as added Pub. L. 93–386, § 6(a)(4), Aug. 23, 1974, 88 Stat. 747

2. 1976

   Pub. L. 94–305 title I § 113 · 90 Stat. 663

   Substituted · 15 U.S.C. § 694c

   Pub. L. 94–305 substituted “$56,500,000” for “$35,000,000”

   Source evidence

   Code amendment note
   Pub. L. 94–305 substituted “$56,500,000” for “$35,000,000”.

   Enacted provision · exact public law section
   Sec. 113. increase authorized capital of surety bond guarantees Section 412 of the Small Business Investment Act of 1958 15 USC 694c. is amended by striking out “$35,000,000” and inserting in lieu thereof “$56,500,000”’.

3. 1977

   Pub. L. 95–14 § 4 · 91 Stat. 25

   Substituted · 15 U.S.C. § 694c

   Pub. L. 95–14 substituted “$110,000,000” for “$56,500,000”

   Target inherited from the preceding amendment note.

   Source evidence

   Code amendment note
   Pub. L. 95–14 substituted “$110,000,000” for “$56,500,000”.

   Enacted provision · exact public law section
   Sec. 4. surety bond guarantees Section 412 of the Small Business Investment Act of 1958 15 USC 694c. is amended by striking out “$56,500,000” and by inserting in lieu thereof “$110,000,000”.

4. 1977

   Pub. L. 95–89 title I § 105 · 91 Stat. 553

   Changed · 15 U.S.C. § 694c

   Pub. L. 95–89 prohibited payment of administrative expenses from the fund and deleted provisions which authorized: a $110,000,000 appropriation of capital for the fund; and payment during the fiscal year into the Treasury as miscellaneous receipts, from the fund, of interest on the cumulative amount of appropriations available as capital to the fund less the average undisbursed cash balance in the fund during the year

   Source evidence

   Code amendment note
   Pub. L. 95–89 prohibited payment of administrative expenses from the fund and deleted provisions which authorized: a $110,000,000 appropriation of capital for the fund; and payment during the fiscal year into the Treasury as miscellaneous receipts, from the fund, of interest on the cumulative amount of appropriations available as capital to the fund less the average undisbursed cash balance in the fund during the year.

   Enacted provision · exact public law section
   Sec. 105. Section 412 of the Small Business Investment Act of 1958 is amended to read as follows: “Sec. 412. “fund There is hereby created within the Treasury a separate fund for guarantees which shall be available to the Administrator without fiscal year limitation as a revolving fund for the purposes of this part. All amounts received by the Administrator, including any moneys, property, or assets derived by him from his operations in connection with this part, shall be deposited in the fund. All expenses and payments, excluding administrative expenses, pursuant to operations of the Administrator under this part shall be paid from the fund. Moneys in the fund not needed for the payment of current operating expenses or for the payment of claims arising under this part may be invested in bonds or other obligations of, or tends or other obligations guaranteed as to principal and interest by, the United States; except that moneys provided as capital for the fund shall not be so invested.”.

5. 1980

   Pub. L. 96–302 title I § 111 · 94 Stat. 833

   Repealed · 15 U.S.C. § 694c

   Pub. L. 96–302 repealed investment of idle funds provision, which is covered in section 694–2 of this title

   Source evidence

   Code amendment note
   Pub. L. 96–302 repealed investment of idle funds provision, which is covered in section 694–2 of this title.

   Enacted provision · exact public law section
   Sec. 111. The last sentence of section 412 of the Small Business Investment Act of 1958 is repealed. 15 USC 694c. 15 USC 694–2.

6. 1988

   Preferred Surety Bond Guarantee Program Act of 1988

   Pub. L. 100–590 title II § 208 · 102 Stat. 2989

   1. Amended · 15 U.S.C. § 694c

      Pub. L. 100–590 designated existing provisions as subsec. (a)

   2. Added · 15 U.S.C. § 694c

      Pub. L. 100–590 added subsec. (b)

   Source evidence

   Code amendment note
   Pub. L. 100–590 designated existing provisions as subsec. (a) and added subsec. (b).

   Enacted provision · exact public law section
   SEC. 208. REVOLVING FUND. Section 412 of the Small Business Investment Act of 1958 (15 U.S.C. 694c) is amended)— (1) by inserting “(a)” before “There”, and (2) by adding at the end of subsection (a), the following new subsection: “(b) Such sums as may be appropriated to the Fund to carry out the programs authorized by this part shall be without fiscal year limitation.”.

   Effective date note
   Amendment by Pub. L. 100–590 effective on expiration of 180 days after Nov. 3, 1988, see section 209 of Pub. L. 100–590, set out as an Effective and Termination Dates of 1988 Amendment note under section 694b of this title.

6 of 7 references resolved to an enrolled provision · 1 partial