#aaf? ,,congress  #b;d ,session  ,h4 ,r4
 #gijc  ,,an ,,act  ,to am5d ! ,small   
,bus9ess ,act to e/abli% ! ,community   
,advantage ,loan ,program4  #a4         
,community ,advantage ,loan ,program    
,section #g7;a7 ( ! ,small ,bus9ess ,act
 7#ae ,u4,s4,c4 #fcf7;a77 is am5d$ by   
add+ at ! end ! foll[+3  7#cg7          
,community ,advantage ,loan ,program    
7,a7 ,purposes ,! purposes ( !          
,community ,advantage ,loan ,program    
are--  7i7 to create a mission-ori5t$   
loan gu>antee program t builds on !     
demon/rat$ success ( ! ,community       
,advantage ,pilot ,program ( !          
,adm9i/ration1 z e/abli%$ 9 #bjaa1 to   
rea* m und]s]v$ small bus9ess conc]ns2  
7ii7 to increase l5d+ to small bus9ess  
conc]ns 9 und]s]v$ & rural m>kets1      
includ+ vet]ans & memb]s ( ! milit>y    
community1 small bus9ess conc]ns own$ & 
controll$ by socially & economically    
disadvantag$ individuals1 wom51 &       
/>tups2  7iii7 to ensure t ! program "u 
?is subsection 79 ?is p>agraph ref]r$ to

 z ! #g7;a7 loan program7 is m inclusive
 & m broadly meets congressional int5t  
to rea* borr[]s :o are unable to get    
cr$it else:]e on reasonable t]ms &      
conditions2  7iv7 to help und]s]v$ small
 bus9ess conc]ns become bankable by     
utiliz+ ! small-doll> f9anc+ & bus9ess  
support exp]i5ce ( mission-ori5t$ l5d]s2
  7v7 to all[ c]ta9 mission-ori5t$      
l5d]s1 prim>ily nonpr(it f9ancial       
int]m$i>ies focus$ on economic          
developm5t 9 und]s]v$ m>kets1 to access 
gu>antees = loans "u ?is subsection 79  
?is p>agraph ref]r$ to z #g7;a7 loans7 (
 n m ?an #bej1jjj & provide managem5t & 
te*nical assi/ance to small bus9ess     
conc]ns z ne$$2  7vi7 to provide c]ta9ty
 = ! l5d+ p>tn]s t make loans "u ?is    
subsection & to attract new l5d]s2 &    
7vii7 to enc\rage collaboration betwe5  
mission-ori5t$ & conv5tional l5d]s "u   
?is subsection 9 ord] to support        
und]s]v$ small bus9ess conc]ns4  7,b7   
,def9itions ,9 ?is p>agraph--  7i7 ! t]m
 cov]$ in/itution means-- 7,i7 a        

developm5t company1 z def9$ 9 section   
#ajc ( ! ,small ,bus9ess ,inve/m5t ,act 
( #aieh 7#ae ,u4,s4,c4 #ffb71 p>ticipat+
 9 ! #ejd ,loan ,gu>anty program        
e/abli%$ "u title ,v ( su* ,act 7#ae    
,u4,s4,c4 #fie et seq472  7,,ii7 a      
nonpr(it int]m$i>y1 z def9$ 9 subsection
 7m77#ab71 p>ticipat+ 9 ! microloan     
program "u subsection 7m72  7,,iii7 a   
non-,f$]ally regulat$ entity c]tifi$ z a
 community developm5t f9ancial          
in/itution by ! ,community ,developm5t  
,f9ancial ,in/itutions ,fund e/abli%$ "u
 section #ajd7;a7 ( ! ,riegle ,community
 ,developm5t & ,regulatory ,improvem5t  
,act ( #aiid 7#ab ,u4,s4,c4 #dgjc7;a772 
&  7,,iv7 an eligible int]m$i>y1 z def9$
 9 subsection 7l77#a71 z 9 effect on !  
day be=e ! date ( enactm5t ( ?is        
p>agraph1 t p>ticipat$ 9 ! ,int]m$i>y   
,l5d+ ,pilot ,program e/abli%$ "u       
subsection 7l77#b72  7ii7 ! t]m exi/+   
bus9ess means a small bus9ess conc]n t  
has be5 9 exi/5ce = n less ?an #b ye>s  
on ! date on :i* a loan is made to !    

small bus9ess conc]n "u ! program2      
7iii7 ! t]m new bus9ess means a small   
bus9ess conc]n t has be5 exi/5ce = n m  
?an #b ye>s on ! date on :i* a loan is  
made to ! small bus9ess conc]n "u !     
program2  7iv7 ! t]m program means !    
,community ,advantage ,loan ,program    
e/abli%$ "u subp>agraph 7,c72  7v7 ! t]m
 ,res]vi/ means a memb] ( a res]ve      
compon5t ( ! ,arm$ ,=ces nam$ 9 section 
#ajaja ( title #aj1 ,unit$ ,/ates ,code2
  7vi7 ! t]m rural area means any c\nty 
t ! ,bureau ( ! ,c5sus has def9$ z mo/ly
 rural or completely rural 9 ! mo/ rec5t
 dec5nial c5sus2  7vii7 ! t]m           
s]vice-connect$ has ! mean+ giv5 ! t]m 9
 section #aja7af7 ( title #ch1 ,unit$   
,/ates ,code2  7viii7 ! t]m small       
bus9ess conc]n 9 an und]s]v$ m>ket means
 a small bus9ess conc]n--  7,i7 t is    
locat$ 9-- 7aa7 a l[- to mod]ate-income 
community2  7bb7 a ,h,u,b,zone2  7cc7 a 
community t has be5 designat$ z an      
emp[]m5t zone or an ent]prise community 
"u section #acia ( ! ,int]nal ,rev5ue   

,code ( #aihf2  7dd7 a community t has  
be5 designat$ z a promise zone by !     
,secret>y ( ,h\s+ & ,urban ,developm5t2 
7ee7 a community t has be5 designat$ z a
 qualifi$ opportunity zone "u section   
#adjj,z-#a ( ! ,int]nal ,rev5ue ,code ( 
#aihf2  7ff7 a rural area2 or  7gg7 any 
area = :i* a disa/] decl>ation or       
det]m9ation describ$ 9 subp>agraphs     
7,a71 7,b71 7,c71 or 7,e7 ( subsection  
7b77#b7 has be5 made t has n t]m9at$ or 
expir$ m ?an #b ye>s be=e ! date 7or    
lat]1 z det]m9$ by ! ,adm9i/rator7 on   
:i* a loan is made to su* conc]n "u !   
program2  7,,ii7 = :i* m ?an #ej p]c5t (
 ! employees reside 9 a l[- or          
mod]ate-income community2  7,,iii7 t is 
a />tup or new bus9ess2  7,,iv7 own$ &  
controll$ by socially & economically    
disadvantag$ individuals1 includ+ ,black
 ,am]icans1 ,hispanic ,am]icans1 ,native
 ,am]icans1 ,asian ,pacific ,am]icans1 &
 o!r m9orities2  7,v7 own$ & controll$  
by wom52  7,,vi7 own$ & controll$ by    
vet]ans2  7,,vii7 own$ & controll$ by   

s]vice-disabl$ vet]ans2  7,,viii7 n less
 ?an #ea p]c5t own$ & controll$ by "o or
 m-- 7aa7 memb]s ( ! ,arm$ ,=ces        
p>ticipat+ 9 ! ,transition ,assi/ance   
,program ( ! ,dep>tm5t ( ,def5se2  7bb7 
,res]vi/s2  7cc7 sp\ses ( vet]ans1      
memb]s ( ! ,arm$ ,=ces1 or ,res]vi/s2 or
  7dd7 surviv+ sp\ses ( vet]ans :o di$  
on active duty or z a result ( a        
s]vice-connect$ disability2 or  7,,ix7 t
 is eligible to receive a vet]ans       
advantage loan2  7ix7 ! t]m small       
bus9ess conc]n own$ & controll$ by      
socially & economically disadvantag$    
individuals has ! mean+ giv5 ! t]m 9    
section #h7;d77#c77;,c72  7x7 ! t]m     
/>tup means a bus9ess t has n yet op5$2 
&  7xi7 ! t]m vet]ans advantage loan    
means a loan made to a small bus9ess    
conc]n "u ?is subsection t is eligible =
 a waiv] ( ! gu>antee fee "u p>agraph   
7#ah7 or ! ye>ly fee "u p>agraph 7#bc7  
because ! small bus9ess conc]n is a     
conc]n describ$ 9 subclause 7,,vi71     
7,,vii71 or 7,,viii7 ( clause 7viii74   

7,c7 ,e/abli%m5t ,!re is e/abli%$ a     
,community ,advantage ,loan ,program "u 
:i* ! ,adm9i/ration may gu>antee loans  
made by cov]$ in/itutions "u ?is        
subsection1 includ+ loans made to small 
bus9ess conc]ns 9 und]s]v$ m>kets4  7,d7
 ,program levels ,9 ea* ( fiscal ye>s   
#bjba ?r\gh #bjbe1 n m ?an #aj p]c5t ( !
 numb] ( loans gu>ante$ "u ?is          
subsection may be gu>ante$ "u ! program4
  7,e7 ,new l5d]s  7i7 ,fiscal ye>s     
#bjba & #bjbb ,9 ea* ( fiscal ye>s #bjba
 & #bjbb--  7,i7 n m ?an #aej cov]$     
in/itutions %all p>ticipate 9 ! program2
 &  7,,ii7 ! ,adm9i/rator %all all[ =   
new applicants & give priority to       
applications submitt$ by any cov]$      
in/itution t is locat$ 9 an area )      
insuffici5t l5d+ "u ! program4  7ii7    
,fiscal ye>s #bjbc1 #bjbd1 & #bjbe  7,i7
 ,9 g5]al ,9 ea* ( fiscal ye>s #bjbc1   
#bjbd1 & #bjbe-- 7aa7 except z provid$ 9
 subclause 7,,ii71 n m ?an #age cov]$   
in/itutions %all p>ticipate 9 ! program2
 &  7bb7 ! ,adm9i/rator %all all[ = new 

applicants & give priority to           
applications submitt$ by any cov]$      
in/itution t is locat$ 9 an area )      
insuffici5t l5d+ "u ! program4  7,,ii7  
,exception = fiscal ye> #bjbe ,9 fiscal 
ye> #bjbe1 n m ?an #bjj cov]$           
in/itutions may p>ticipate 9 ! program  
if--  7aa7 aft] review+ ! report "u     
subp>agraph 7,m77iii71 ! ,adm9i/rator   
det]m9es t n m ?an #bjj cov]$           
in/itutions may p>ticipate 9 ! program2 
7bb7 ! ,adm9i/rator notifies ,congress 9
 writ+ ( ! det]m9ation ( ! ,adm9i/rator 
"u item 7aa72 &  7cc7 n lat] ?an ,july  
#cj1 #bjbd1 ! ,adm9i/rator notifies !   
public ( ! det]m9ation ( ! ,adm9i/rator 
"u item 7aa74  7,f7 ,gr&fa!r+ ( exi/+   
l5d]s ,any cov]$ in/itution t p>ticipat$
 9 ! ,community ,advantage ,pilot       
,program ( ! ,adm9i/ration & is 9 good  
/&+ on ! day be=e ! date ( enactm5t (   
?is p>agraph--  7i7 %all reta9          
designation 9 ! program2 &  7ii7 %all n 
be requir$ to submit an application to  
p>ticipate 9 ! program4  7,g7           

,requirem5t to make loans to und]s]v$   
m>kets ,n less ?an #ge p]c5t ( loans    
made by a cov]$ in/itution "u ! program 
%all consi/ ( loans made to small       
bus9ess conc]ns 9 und]s]v$ m>kets4  7,h7
 ,maximum loan am\nt  7i7 ,9 g5]al      
,except z provid$ 9 clause 7ii71 !      
maximum loan am\nt = a loan gu>ante$ "u 
! program is #bej1jjj4  7ii7 ,exception 
7,i7 ,9 g5]al ,! ,adm9i/ration may1 9 ! 
discretion ( ! ,adm9i/ration1 approve a 
gu>antee ( a loan "u ! program t is m   
?an #bej1jjj & n m ?an #cej1jjj4  7,,ii7
 ,notification ,n lat] ?an #b days aft] 
approv+ ! gu>antee ( a loan "u subclause
 7,i71 ! ,adm9i/ration %all provide     
notification ( ! approval to ! cov]$    
in/itution mak+ ! loan4  7,i7 ,int]e/   
rates  7i7 ,9 g5]al ,except z provid$ 9 
clause 7ii71 ! maximum all[able int]e/  
rate prescrib$ by ! ,adm9i/ration on any
 f9anc+ made on a def]r$ basis pursuant 
to ! program %all n exce$ ! maximum     
all[able int]e/ rate 9 effect on        
,septemb] #a1 #bjah4  7ii7 ,modification

 ,! ,adm9i/ration %all n modify !       
maximum all[able int]e/ rate describ$ 9 
clause 7i7 unless ! ,adm9i/ration       
provides ! public ) an opportunity to   
comm5t = a p]iod ( n less ?an #ahj days 
be=e implem5t+ ! modifi$ int]e/ rate4   
7,j7 ,tra9+ & te*nical assi/ance ,!     
,adm9i/ration-- 7i7 %all 9 p]son &      
onl9e1 provide upfront & ongo+ tra9+ &  
te*nical assi/ance = cov]$ in/itutions  
mak+ loans "u ! program 9 ord] to       
support prud5t l5d+ /&>ds & improve !   
int]face betwe5 ! cov]$ in/itutions & ! 
,adm9i/ration2  7ii7 %all ensure t !    
tra9+ & te*nical assi/ance describ$ 9   
clause 7i7 is provid$ = free or at a    
l[-co/2 &  7iii7 may ent] into a        
contract to provide ! tra9+ or te*nical 
assi/ance describ$ 9 clause 7i7 ) an    
organization ) exp]tise 9 l5d+ "u ?is   
subsection1 mission-ori5t$ l5d+1 & l5d+ 
to und]s]v$ m>kets4  7,k7 ,delegat$     
au?ority ,a cov]$ in/itution is n       
eligible to receive delegat$ au?ority f 
! ,adm9i/ration "u ! program until !    

cov]$ in/itution makes n less ?an #g    
loans "u ! program4  7,l7 ,regulations  
7i7 ,9 g5]al ,n lat] ?an #ahj days aft] 
! date ( enactm5t ( ?is p>agraph & 9    
accordance ) ! notice & comm5t proc$ures
 "u section #eec ( title #e1 ,unit$     
,/ates ,code1 ! ,adm9i/rator %all       
promulgate regulations to c>ry out !    
program1 :i* %all--  7,i7 outl9e !      
requirem5ts = p>ticipation by cov]$     
in/itutions 9 ! program2  7,,ii7 def9e  
p]=mance metrics = cov]$ in/itutions    
p>ticipat+ 9 ! program = ! fir/ "t1 :i* 
are requir$ to be met 9 ord] to cont9ue 
p>ticipat+ 9 ! program2  7,,iii7 det]m9e
 ! cr$it score ( a small bus9ess conc]n 
"u :i* ! ,adm9i/ration is requir$ to    
und]write a loan provid$ to ! small     
bus9ess conc]n "u ! program & ! loan may
 n be made us+ ! delegat$ au?ority ( a  
cov]$ in/itution2  7,,iv7 require ea*   
cov]$ in/itution t sells loans made "u !
 program on ! second>y m>ket to e/abli% 
a loan loss res]ve fund1 :i*--  7aa7 )  
respect to cov]$ in/itutions 9 good /&+1

 includ+ ! cov]$ in/itutions describ$ 9 
subp>agraph 7,f71 %all be ma9ta9$ at a  
level equal to #c p]c5t ( ! out/&+      
gu>ante$ portion ( ! loans2 &  7bb7 )   
respect to any o!r cov]$ in/itution1    
%all be ma9ta9$ at a level equal to #e  
p]c5t ( ! out/&+ gu>ante$ portion ( !   
loans2 &  7,v7 all[ ! ,adm9i/rator to   
require additional am\nts to be deposit$
 into a loan loss res]ve fund e/abli%$  
by a cov]$ in/itution "u subclause      
7,,iv7 bas$ on ! risk *>act]i/ics or    
p]=mance ( ! cov]$ in/itution & ! loan  
portfolio ( ! cov]$ in/itution4  7ii7   
,pilot program  7,i7 ,rev]sion ,beg9n+  
on ! date ( enactm5t ( ?is p>agraph &   
end+ on ! day be=e ! date on :i* !      
regulations promulgat$ by ! ,adm9i/rator
 "u clause 7i7 take effect1 !           
,adm9i/rator may only c>ry out !        
,community ,advantage ,pilot ,program ( 
! ,adm9i/ration bas$ on applicable      
program guidel9es1 requirem5ts1 & o!r   
policy 9 effect on ,septemb] #a1 #bjah1 
except t ! def9ition ( und]s]v$ m>ket   

%all include--  7aa7 a community & an   
area describ$ 9 items 7ee7 & 7ff71      
respectively1 ( subp>agraph             
7,b77viii77,i72 &  7bb7 small bus9ess   
conc]ns describ$ 9 clauses 7,,iv7 & 7,v7
 ( subp>agraph 7,b77viii74  7,,ii7      
,t]m9ation ,beg9n+ on ! date on :i* !   
regulations promulgat$ by ! ,adm9i/rator
 "u clause 7i7 take effect1 !           
,adm9i/rator may n c>ry out ! ,community
 ,advantage ,pilot ,program ( !         
,adm9i/ration4  7,m7 ,report+  7i7      
,weekly reports  7,i7 ,9 g5]al ,!       
,adm9i/ration %all report on ! website (
 ! ,adm9i/ration1 z "p ( ! weekly       
reports on l5d+ approvals "u ?is        
subsection--  7aa7 on & aft] ! date (   
enactm5t ( ?is p>agraph until ! date on 
:i* ! regulations promulgat$ "u         
subp>agraph 7,l77i7 take effect1 ! numb]
 & doll> am\nt ( loans gu>ante$ "u !    
,community ,advantage ,pilot ,program ( 
! ,adm9i/ration2 &  7bb7 on & aft] !    
date on :i* ! ,adm9i/ration beg9s to    
approve loans "u ! program1 ! numb] &   

doll> am\nt ( loans gu>ante$ "u !       
program4  7,,ii7 ,sep>ate acc\nt+ ,!    
numb] & doll> am\nt ( loans report$ 9 a 
weekly report "u subclause 7,i7 = loans 
gu>ante$ "u ! ,community ,advantage     
,pilot ,program ( ! ,adm9i/ration & "u !
 program %all include a breakd[n by !   
categories ( race1 e?nicity1 & g5d] ( ! 
own]s ( ! small bus9ess conc]ns4  7ii7  
,annual reports  7,i7 ,9 g5]al ,= ea* ( 
! fir/ #e fiscal ye>s 9 :i* ! program is
 9 effect1 ! ,adm9i/ration %all submit  
to ! ,committee on ,small ,bus9ess &    
,entrepr5eur%ip ( ! ,s5ate & !          
,committee on ,small ,bus9ess ( ! ,h\se 
( ,repres5tatives1 & make publicly      
available on ! int]net1 in=mation ab\t  
loans provid$ "u ! program & "u !       
,community ,advantage ,pilot ,program ( 
! ,adm9i/ration4  7,,ii7 ,cont5ts ,ea*  
report submitt$ & made publicly         
available "u subclause 7,i7 %all        
include-- 7aa7 ! numb] & doll> am\nts ( 
loans provid$ to small bus9ess conc]ns  
"u ! program & "u ! ,community          

,advantage ,pilot ,program ( !          
,adm9i/ration1 includ+ a breakd[n by--  
7,,aa7 ! g5d] ( ! own]s ( ! small       
bus9ess conc]n2 7,,bb7 ! race & e?nicity
 ( ! own]s ( ! small bus9ess conc]n1    
disaggregat$ 9 a mann] t captures all ! 
racial gr\ps specifi$ 9 ! ,am]ican      
,community ,survey conduct$ by ! ,bureau
 ( ! ,c5sus2 7,,cc7 :e!r ! small bus9ess
 conc]n is locat$ 9 an urban or rural   
area2 & 7,,dd7 :e!r ! small bus9ess     
conc]n is a />tup1 an exi/+ bus9ess1 or 
a new bus9ess1 z provid$ 9 ! weekly     
reports on l5d+ approvals "u ?is        
subsection2  7bb7 ! proportion ( loans  
describ$ 9 item 7aa7 comp>$ to-- 7,,aa7 
o!r #g7;a7 loans ( any am\nt2 7,,bb7 o!r
 #g7;a7 loans ( simil> am\nts2 7,,cc7   
express loans provid$ "u p>agraph 7#ca7 
( simil> am\nts2 & 7,,dd7 o!r #g7;a7    
loans ( simil> am\nts provid$ to small  
bus9ess conc]ns 9 und]s]v$ m>kets2  7cc7
 a comp>ison ( ! numb] & doll> am\nts ( 
loans provid$ to small bus9ess conc]ns  
"u ! program1 "u ! ,community ,advantage

 ,pilot ,program ( ! ,adm9i/ration1 & "u
 ea* category ( loans describ$ 9 item   
7bb71 brok5 d[n by-- 7,,aa7 loans ( n m 
?an #ej1jjj2 7,,bb7 loans ( m ?an       
#ej1jjj & n m ?an #aej1jjj2 7,,cc7 loans
 ( m ?an #aej1jjj & n m ?an #bej1jjj2 & 
7,,dd7 loans ( m ?an #bej1jjj & n m ?an 
#cej1jjj2  7dd7 ! numb] & doll> am\nts (
 loans provid$ to small bus9ess conc]ns 
"u ! program & "u ! ,community          
,advantage ,pilot ,program ( !          
,adm9i/ration by ,/ate1 & ! jobs creat$ 
or reta9$ )9 ea* ,/ate2  7ee7 ) respect 
to loans provid$ to small bus9ess       
conc]ns "u ! program & "u ! ,community  
,advantage ,pilot ,program ( !          
,adm9i/ration-- 7,,aa7 ! p]=mance ( !   
loans provid$ by ea* type ( cov]$       
in/itution2 7,,bb7 ! p]=mance ( ! loans 
brok5 d[n by loan size2 7,,cc7 !        
p]=mance ( ! loans brok5 d[n by :e!r !  
cr$it score ( ! borr[] is above1 bel[1  
or equal to #adj2 7,,dd7 ! pr$ictive    
pur*ase rate ( ! loans2 7,,ee7 ! e>ly   
default rate ( ! loans2 7,,ff7 !        

#ab-mon? default rate ( ! loans2 7,,gg7 
! cumulative default rate = ! loans = ! 
#e-ye> p]iod prec$+ ! report2 7,,hh7 !  
*>ge-(f rates ( ! loans2 7,,ii7 !       
*>ge-(f rates z a p]c5t ( ! unpaid      
pr9cipal balance z 9 table #i ( ! annual
 budget submitt$ by ! ,adm9i/ration2 &  
7,,jj7 ! pur*ase rates z a p]c5t ( !    
unpaid pr9cipal balance z 9 table #h ( !
 annual budget submitt$ by !            
,adm9i/ration2  7ff7 a li/ ( cov]$      
in/itutions p>ticipat+ 9 ! program & !  
,community ,advantage ,pilot ,program ( 
! ,adm9i/ration1 includ+-- 7,,aa7 ! "n1 
location1 & contact in=mation1 su* z !  
website & telephone numb]1 ( ea* cov]$  
in/itution2 & 7,,bb7 a breakd[n by !    
numb] & doll> am\nt ( ! loans approv$ = 
small bus9ess conc]ns2 &  7gg7 ! b5*m>ks
 e/abli%$ by ! work+ gr\p "u subp>agraph
 7,n77i74  7,,iii7 ,tim+ ,an annual     
report requir$ "u ?is clause %all-- 7aa7
 be submitt$ & made publicly available n
 lat] ?an ,octob] #ae ( ea* ye>2 &  7bb7
 cov] ! l5d+ activity = ! fiscal ye> t  

end$ on ,septemb] #cj ( t same ye>4     
7iii7 ,,gao report ,n lat] ?an #c ye>s  
aft] ! date ( enactm5t ( ?is p>agraph1 !
 ,comptroll] ,g5]al ( ! ,unit$ ,/ates   
%all submit to ! ,adm9i/rator1 !        
,committee on ,small ,bus9ess &         
,entrepr5eur%ip ( ! ,s5ate1 & !         
,committee on ,small ,bus9ess ( ! ,h\se 
( ,repres5tatives a report--  7,i7      
assess+-- 7aa7 ! ext5t to :i* ! program 
fulfills ! requirem5ts ( ?is p>agraph2 &
  7bb7 ! p]=mance ( cov]$ in/itutions   
p>ticipat+ 9 ! program2 &  7,,ii7       
provid+ recomm5dations on ! adm9i/ration
 ( ! program & ! f9d+s "u items 7aa7 &  
7bb7 ( subclause 7,i74  7,n7 ,work+ gr\p
  7i7 ,9 g5]al ,n lat] ?an #ij days aft]
 ! date ( enactm5t ( ?is p>agraph1 !    
,adm9i/rator %all e/abli% a ,community  
,advantage ,work+ ,gr\p1 :i* %all-- 7,i7
 include--  7aa7 a geographically div]se
 repres5tation ( memb]s f among cov]$   
in/itutions p>ticipat+ 9 ! program2 &   
7bb7 repres5tatives f ! ,(fice (        
,capital ,access ( ! ,adm9i/ration1     

includ+ ! ,(fice ( ,cr$it ,risk         
,managem5t1 ! ,(fice ( ,f9ancial        
,assi/ance1 & ! ,(fice ( ,economic      
,opportunity2  7,,ii7 develop           
recomm5dations on h[ ! ,adm9i/ration c  
effectively manage1 support1 & promote !
 program & ! mission ( ! program2       
7,,iii7 e/abli% metrics ( success &     
b5*m>ks t reflect ! mission & population
 s]v$ by cov]$ in/itutions "u ! program1
 :i* ! ,adm9i/ration %all use to        
evaluate ! p]=mance ( ^? cov]$          
in/itutions2 &  7,,iv7 in/itute regul> &
 su/a9able sy/ems ( communication betwe5
 ! ,adm9i/ration & cov]$ in/itutions    
p>ticipat+ 9 ! program4  7ii7 ,report ,n
 lat] ?an #ahj days aft] ! date (       
enactm5t ( ?is p>agraph1 ! ,adm9i/rator 
%all submit to ! ,committee on ,small   
,bus9ess & ,entrepr5eur%ip ( ! ,s5ate & 
! ,committee on ,small ,bus9ess ( !     
,h\se ( ,repres5tatives a report t      
includes--  7,i7 ! recomm5dations ( !   
,community ,advantage ,work+ ,gr\p      
e/abli%$ "u clause 7i72 &  7,,ii7 a     

recomm5d$ plan & timel9e = implem5tation
 ( ^? recomm5dations4  7,o7 ,t]m9ation  
,! au?ority to c>ry out ! program "u ?is
 p>agraph %all t]m9ate on ,septemb] #cj1
 #bjbe4  4  ,pass$ ! ,h\se (            
,repres5tatives ,decemb] #c1            
#bjbj4;,cl]k4