§ 697a. Private debenture sales

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. 1986

   Pub. L. 85–699 title V § 504 · 72 Stat. 689

   Enacted · 15 U.S.C. § 697a

   Pub. L. 85–699, title V, § 504, as added Pub. L. 99–272, title XVIII, § 18008(a), Apr. 7, 1986, 100 Stat. 366

   Source evidence

   Code source credit
   Pub. L. 85–699, title V, § 504, as added Pub. L. 99–272, title XVIII, § 18008(a), Apr. 7, 1986, 100 Stat. 366

2. 1987

   Pub. L. 100–72 § 2 · 101 Stat. 477

   1. Struck · 15 U.S.C. § 697a(a)

      Pub. L. 100–72 struck out “and” at end of par. (1)

   2. Substituted · 15 U.S.C. § 697a(a)

      Pub. L. 100–72 substituted “$425,000,000; and” for “$295,000,000.” in par. (2)

   3. Added · 15 U.S.C. § 697a(a)

      Pub. L. 100–72 added par. (3)

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 100–72 struck out “and” at end of par. (1), substituted “$425,000,000; and” for “$295,000,000.” in par. (2), and added par. (3).

   Enacted provision · exact public law section
   Sec. 2. Section 504 of the Small Business Investment Act of 1958 is 15 USC 694–1, 694–2. 15 USC 697a. amended as follows: (a) by striking “and” at the end of subsection (a)(1); (b) by striking “$295,000,000.” and by inserting in lieu thereof “$425,000,000; and”; and (c) by adding the following new paragraph at the end of subsection (a): “(3) of the program levels otherwise authorized by law for fiscal year 1988, an amount not to exceed $425,000,000.”.

3. 1988

   Small Business Administration Reauthorization and Amendment Act of 1988

   Pub. L. 100–590 title I § 112(a) · 102 Stat. 2989

   1. Inserted · 15 U.S.C. § 697a

      Pub. L. 100–590 inserted “Private debenture sales” as section catchline

   2. Amended · 15 U.S.C. § 697a

      Pub. L. 100–590 amended text generally. Prior to amendment, text read as follows:

   Source evidence

   Code amendment note
   Pub. L. 100–590 inserted “Private debenture sales” as section catchline and amended text generally. Prior to amendment, text read as follows:

   “(a) Notwithstanding any other law, rule, or regulation, the Administration shall conduct a pilot program involving the sale to investors, either publicly or by private placement, of debentures guaranteed pursuant to section 697 of this title as follows— “(1) of the program levels otherwise authorized by law for fiscal year 1986, an amount not to exceed $200,000,000; “(2) of the program levels otherwise authorized by law for fiscal year 1987, an amount not to exceed $425,000,000; and “(3) of the program levels otherwise authorized by law for fiscal year 1988, an amount not to exceed $425,000,000. “(b) Nothing in any provision of law shall be construed to authorize the Federal Financing Bank to acquire— “(1) any obligation the payment of principal or interest on which at any time has been guaranteed in whole or in part under section 697 of this title and which is being sold pursuant to the provisions of the pilot program authorized in this section, “(2) any obligation which is an interest in any obligation described in paragraph (1), or “(3) any obligation which is secured by, or substantially all of the value of which is attributable to, any obligation described in paragraph (1) or (2).”

   Enacted provision · exact public law section
   (a) Permanent Extension of Pilot Program.— Section 504 of the Small Business Investment Act of 1958 (15 U.S.C. 697a) is amended to read as follows: “Sec. 504. “private debenture sales (a) Notwithstanding any other law, rule, or regulation, the Administration shall sell to investors, either publicly or by private placement, debentures pursuant to section 503 of this title as follows: “(1) Of the program levels otherwise authorized by law for fiscal year 1986, an amount not to exceed $200,000,000. “(2) Of the program levels otherwise authorized by law for each of fiscal years 1987 and 1988, an amount not to exceed $425,000,000. “(3) All of the program levels authorized for fiscal year 1989 and subsequent fiscal years. “(b) Nothing in any provision of law shall be construed to authorize the Federal Financing Bank to acquire— “(1) any obligation the payment of principal or interest on which at any time has been guaranteed in whole or in part under section 503 of this title and which is being sold pursuant to the provisions of the program authorized in this section; “(2) any obligation which is an interest in any obligation described in paragraph (1); or “(3) any obligation which is secured by, or substantially all of the value of which is attributable to, any obligation described in paragraph (1) or (2).”.

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