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Public Law106th CongressCommerce
H.R. 68Became Law

Small Business Investment Improvement Act of 1999

This bill became law

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Law

What it doesSummary passed senate amended (Mar 22, 1999)

Small Business Investment Improvement Act of 1999 - Amends the Small Business Investment Act of 1958 to: (1) define "interest" for purposes of small business loans granted under the Small Business Investment Company (SBIC) program; and (2) increase the FY 1999 and 2000 funding levels for such program.

Provides for the determination of an eligible small business or smaller enterprise that is not required to pay Federal income tax at the corporate level but that is required to pass income through to its shareholders or partners by using a specified formula to compute its after-tax income.

Requires the Small Business Administration to issue SBIC guarantees and trust certificates at periodic intervals of not less than every 12 (currently, six) months.

What just happenedApr 5, 1999

Became Public Law No: 106-9.

Who’s behind it

Rep. Talent, Jim [R-MO-2](R-MO)Sponsor
11 cosponsors6 D5 R
Read on Congress.gov
11cosponsors2committees36actions3related bills17subjects
  1. Apr 5, 1999PresidentE40000

    Became Public Law No: 106-9.

  2. Apr 5, 1999BecameLaw36000

    Became Public Law No: 106-9.

  3. Apr 5, 1999PresidentE30000

    Signed by President.

  4. Apr 5, 1999BecameLaw36000

    Signed by President.

  5. Mar 25, 1999FloorE20000

    Presented to President.

  6. Mar 25, 1999President28000

    Presented to President.

  7. Mar 23, 1999Floor

    Message on Senate action sent to the House.

  8. Mar 23, 1999ResolvingDifferencesH41931

    Motion to reconsider laid on the table Agreed to without objection.

  9. Mar 23, 1999ResolvingDifferencesH41610

    On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote. (consideration: CR H1490-1491; text: CR H1490-1491)

  10. Mar 23, 1999NotUsed19500

    Resolving differences -- House actions: On motion that the House suspend the rules and agree to the Senate amendment Agreed to by voice vote.(consideration: CR H1490-1491; text: CR H1490-1491)

  11. Mar 23, 1999FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on the Senate amendment to H.R. 68.

  12. Mar 23, 1999ResolvingDifferencesH40140

    Mr. Talent moved that the House suspend the rules and agree to the Senate amendment.

  13. Mar 22, 1999Floor

    Passed Senate in lieu of S. 364 with an amendment by Unanimous Consent. (text: CR S3062-3063)

  14. Mar 22, 1999Floor17000

    Passed/agreed to in Senate: Passed Senate in lieu of S. 364 with an amendment by Unanimous Consent.(text: CR S3062-3063)

  15. Mar 22, 1999Floor

    Senate struck all after the Enacting Clause and substituted the language of S. 364.

  16. Mar 22, 1999Floor

    Measure laid before Senate by unanimous consent. (consideration: CR S3062-3063)

  17. Mar 22, 1999Discharge

    Senate Committee on Small Business discharged by Unanimous Consent.

    Small Business and Entrepreneurship Committee
  18. Mar 22, 1999Committee14500

    Senate Committee on Small Business discharged by Unanimous Consent.

    Small Business and Entrepreneurship Committee
  19. Feb 22, 1999IntroReferral

    Read twice and referred to the Committee on Small Business.

    Small Business and Entrepreneurship Committee
  20. Feb 4, 1999IntroReferral

    Received in the Senate.

  21. Feb 2, 1999FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  22. Feb 2, 1999FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 402 - 2 (Roll no. 7). (text: CR H286-287)

  23. Feb 2, 1999Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 402 - 2 (Roll no. 7).(text: CR H286-287)

  24. Feb 2, 1999FloorH30000

    Considered as unfinished business. (consideration: CR H293-294)

  25. Feb 2, 1999FloorH37220

    At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 5, rule I, the Chair announced that further proceedings on the motion would be postponed.

  26. Feb 2, 1999FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate.

  27. Feb 2, 1999FloorH30000

    Considered under suspension of the rules. (consideration: CR H286-288)

  28. Feb 2, 1999FloorH30300

    Mr. Talent moved to suspend the rules and pass the bill, as amended.

  29. Jan 19, 1999CalendarsH12410

    Placed on the Union Calendar, Calendar No. 1.

  30. Jan 19, 1999CommitteeH12200

    Reported by the Committee on Small Business. H. Rept. 106-1.

    Small Business Committee
  31. Jan 19, 1999Committee5000

    Reported by the Committee on Small Business. H. Rept. 106-1.

    Small Business Committee
  32. Jan 7, 1999CommitteeH19000

    Ordered to be Reported by Voice Vote.

    Small Business Committee
  33. Jan 7, 1999CommitteeH15000-B

    Committee Consideration and Mark-up Session Held.

    Small Business Committee
  34. Jan 6, 1999IntroReferralH11100

    Referred to the House Committee on Small Business.

    Small Business Committee
  35. Jan 6, 1999IntroReferralIntro-H

    Introduced in House

  36. Jan 6, 1999IntroReferral1000

    Introduced in House

Passed Senate amendedMar 22, 199935

Small Business Investment Improvement Act of 1999 - Amends the Small Business Investment Act of 1958 to: (1) define "interest" for purposes of small business loans granted under the Small Business Investment Company (SBIC) program; and (2) increase the FY 1999 and 2000 funding levels for such program.

Provides for the determination of an eligible small business or smaller enterprise that is not required to pay Federal income tax at the corporate level but that is required to pass income through to its shareholders or partners by using a specified formula to compute its after-tax income.

Requires the Small Business Administration to issue SBIC guarantees and trust certificates at periodic intervals of not less than every 12 (currently, six) months.

Passed House amendedFeb 2, 199936

Small Business Investment Company Technical Corrections Act of 1999 - Amends the Small Business Investment Act of 1958 to define "interest" for purposes of small business loans granted under the Small Business Investment Company (SBIC) program. Amends the Small Business Act to increase the FY 1999 and 2000 funding levels for such program.

Amends the Small Business Investment Act of 1958 to: (1) remove a requirement that at least 50 percent of the annual program level of approved participating securities under the SBIC program be reserved for funding with SBICs having private capital of not more than $20 million; (2) provide for the determination of an eligible small business or smaller enterprise that is not required to pay Federal income tax at the corporate level but that is required to pass income through to its shareholders or partners by using a specified formula to compute its after-tax income; and (3) require the Small Business Administration to issue SBIC guarantees and trust certificates at periodic intervals of not less than 12 (currently six) months.

Introduced in HouseJan 6, 199900

Small Business Investment Company Technical Corrections Act of 1999 - Amends the Small Business Investment Act of 1958 to define "interest" for purposes of small business loans granted under the Small Business Investment Company (SBIC) program. Amends the Small Business Act to increase the FY 1999 and 2000 funding levels for such program.

Amends the Small Business Investment Act of 1958 to: (1) remove a requirement that at least 50 percent of the annual program level of approved participating securities under the SBIC program be reserved for funding with SBICs having private capital of not more than $20 million; (2) provide for the determination of an eligible small business or smaller enterprise that is not required to pay Federal income tax at the corporate level but that is required to pass income through to its shareholders or partners by using a specified formula to compute its after-tax income; and (3) require the Small Business Administration to issue SBIC guarantees and trust certificates at periodic intervals of not less than 12 (currently six) months.

Small Business Investment Improvement Act of 1999 — Informed