,,ii  #aah? ,,congress  #b;d ,session   
,s4 #dgei  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #bd1 #bjbd ,mr4  
,hick5loop] 7= himself & ,mr4 ,m>%all7  
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on ,small
 ,bus9ess & ,entrepr5eur%ip  ,a ,,bill  
,to am5d ! ,small ,bus9ess ,inve/m5t    
,act ( #aieh to exclude f ! limit on    
lev]age c]ta9 am\nts inve/$ 9 small]    
ent]prises locat$ 9 rural or l[-income  
areas & small bus9esses 9 critical      
te*nology areas1 & = o!r purposes4  #a4 
,%ort title ,?is ,act may be cit$ z !   
,inve/+ 9 ,all ( ,am]ica ,act ( #bjbd4  
#b4 ,,sbic maximum lev]age exclusion    
7a7 ,def9itions ,section #ajc7i7 ( !    
,small ,bus9ess ,inve/m5t ,act ( #aieh  
7#ae ,u4,s4,c4 #ffb7i77 is am5d$--  7#a7
 9 subp>agraph 7,a77ii71 by /rik+ & at !
 end2  7#b7 9 subp>agraph 7,b77iii7--   
7,a7 9 subclause 7,i71 by /rik+ e/abli%$
 prior to ,octob] #a1 #aihg2  7,b7 9    
subclause 7,,ii7--  7i7 by /rik+ or &   
ins]t+ 1 a2 &  7ii7 by ins]t+ 1 or a    

f\ndation1 end[m5t1 or tru/ ( a college 
or univ]sity aft] p5sion plan2 &  7,c7 9
 subclause 7,,iii71 by /rik+ ! semicolon
 at ! end & ins]t+ 2 &2 &  7#c7 by add+ 
at ! end ! foll[+3  7,c7 = ! purpose (  
approval by ! ,adm9i/rator ( any reque/ 
= lev]age1 does n include any funds     
obta9$ directly or indirectly f any     
,f$]al1 ,/ate or local gov]nm5t or any  
gov]nm5t ag5cy or in/rum5tality1 except 
= funds describ$ 9 subclause 7,i71      
7,,ii71 or 7,,iii7 ( subp>agraph        
7,b77iii74  4  7b7 ,maximum lev]age     
,section #cjc7;b77#b7 ( ! ,small        
,bus9ess ,inve/m5t ,act ( #aieh 7#ae    
,u4,s4,c4 #fhc7;b77#b77 is am5d$--  7#a7
 9 subp>agraph 7,a77i71 by /rik+ #cjj & 
ins]t+ #bjj2  7#b7 9 subp>agraph 7,c7-- 
7,a7 9 ! head+-- 7i7 by ins]t+ or rural 
aft] l[-income2 &  7ii7 by ins]t+ or    
critical te*nology areas aft] geographic
 areas2  7,b7 9 clause 7i7--  7i7 by    
/rik+ 7i7 ,9 calculat+ & ins]t+ !       
foll[+3  7i7 ,9 g5]al ,except z provid$ 
9 clause 7iii71 9 calculat+  2  7ii7 by 

ins]t+ or companies aft] ( a company2   
7iii7 by /rik+ subp>agraph 7,a7 & ins]t+
 subp>agraphs 7,a7 & 7,b72  7iv7 by     
/rik+ equity2  7v7 by /rik+ ! company 9 
a small] ent]prise & all t foll[s &     
ins]t+ ! foll[+3  ! company or companies
 9-- 7,i7 a small] ent]prise locat$ 9 a 
l[-income geographic area 7z def9$ 9    
section #cea7 or 9 a rural area2 or  2 &
  7vi7 by add+ at ! end ! foll[+ new    
subclause3  7,,ii7 a small bus9ess      
conc]n 9 an area ( critical te*nology 7z
 def9$ 9 section #dhja ( title #aj1     
,unit$ ,/ates ,code7 vital to ma9ta9+ ! 
national security ( ! ,unit$ ,/ates4  2 
7,c7 by am5d+ clause 7ii7 to read z     
foll[s3  7ii7 ,limitation ,:ile ma9ta9+ 
! limitation ( subp>agraph 7,a77i7 &    
consi/5t ) a lev]age det]m9ation ratio  
issu$ pursuant to section #cja7;c71 !   
aggregate am\nt exclud$ = a company or  
companies "u clause 7i7 f ! calculation 
( ! out/&+ lev]age ( su* company or     
companies = ! purposes ( subp>agraphs   
7,a7 & 7,b7 may n exce$ ! less] ( #ej   

p]c5t ( ! private capital ( su* company 
or companies or #abe1jjj1jjj4  2 &  7,d7
 by am5d+ clause 7iii7 to read z foll[s3
  7iii7 ,prospective applicability ,an  
inve/m5t by a lic5see is eligible =     
exclusion f ! calculation ( out/&+      
lev]age "u clause 7i7 only if su*       
inve/m5t is made by su* lic5see aft] !  
date ( enactm5t ( ! ,inve/+ 9 ,all (    
,am]ica ,act ( #bjbd4  2 &  7#c7 by add+
 at ! end ! foll[+ new subp>agraphs3    
7,e7 ,annual adju/m5t ,! ,adm9i/rator   
%all adju/ ! doll> am\nts describ$ 9    
subp>agraphs 7,a7 & 7,b7--  7i7 on !    
date ( ! enactm5t ( ?is subp>agraph1 by 
a p]c5tage equal to ! p]c5tage 7if any7 
by :i* ! ,consum] ,price ,index 7all    
items2 ,unit$ ,/ates city av]age71 z    
publi%$ by ! ,bureau ( ,labor ,/ati/ics1
 increas$ dur+ ! p]iod-- 7,i7 beg9n+ on 
,decemb] #ah1 #bjae1 & end+ on ! date ( 
! enactm5t ( ?is subp>agraph1 =         
subp>agraph 7,b72 &  7,,ii7 beg9n+ on   
,june #ba1 #bjah1 & end+ on ! date ( !  
enactm5t ( ?is subp>agraph1 =           

subp>agraph 7,a72 &  7ii7 on ! date t is
 "o ye> aft] ! date ( ! enactm5t ( ?is  
subp>agraph1 & annually !reaft]1 by a   
p]c5tage equal to ! p]c5tage 7if any7 by
 :i* ! ,consum] ,price ,index 7all      
items2 ,unit$ ,/ates city av]age71 z    
publi%$ by ! ,bureau ( ,labor ,/ati/ics1
 increas$ dur+ ! "o-ye> p]iod prec$+ !  
date ( ! adju/m5t "u ?is clause4  4  7c7
 ,report ,n lat] ?an ,june #cj ( ! fir/ 
ye> beg9n+ aft] ! date ( enactm5t ( ?is 
,act1 & annually !reaft]1 ! ,adm9i/rator
 ( ! ,small ,bus9ess ,adm9i/ration %all 
submit to ! ,committee on ,small        
,bus9ess & ,entrepr5eur%ip ( ! ,s5ate & 
! ,committee on ,small ,bus9ess ( !     
,h\se ( ,repres5tatives a report on !   
results ( ! exclusion "u subp>agraph    
7,c7 ( section #cjc7;b77#b7 ( ! ,small  
,bus9ess ,inve/m5t ,act ( #aieh 7#ae    
,u4,s4,c4 #fhc7;b77#b771 z am5d$ by     
subsection 7b71 includ+ ! economic      
activity g5]at$ & jobs directly &       
indirectly creat$ by ! exclusion4