SMALL BUSINESS ACT ACT To amend the Small Business Act of 1953, as amended. e it enacted by the Senate and House of Representa8 of the United States of America in Congress assemd, That title II of the Act of July 30, 1953 (Public w 163, Eighty-third Congress), as amended, is hereby hdrawn as a part of that Act and is made a separate t to be known as the "Small Business Act”. SEC. 2. The Small Business Act is amended to read as lows: Congress. SEC. 1. This Act may be cited as the 'Small Business Citation. et'. "SEC. 2. (a) The essence of the American economic Policy of stem of private enterprise is free competition. Only rough full and free competition can free markets, free try into business, and opportunities for the expression nd growth of personal initiative and individual judgent be assured. The preservation and expansion of uch competition is basic not only to the economic welleing but to the security of this Nation. Such security nd well-being cannot be realized unless the actual and potential capacity of small business is encouraged and developed. It is the declared policy of the Congress hat the Government should aid, counsel, assist, and protect, insofar as is possible, the interests of smallbusiness concerns in order to preserve free competitive enterprise, to insure that a fair proportion of the total purchases and contracts for property and services for the Government (including but not limited to contracts for maintenance, repair, and construction) be placed with small-business enterprises, to insure that a fair proportion of the total sales of Government property be made to such enterprises, and to maintain and strengthen the overall economy of the Nation. "(b) Further, it is the declared policy of the Congress that the Government should aid and assist victims of floods and other catastrophes. defined. "SEC. 3. For the purposes of this Act, a small-business Small business concern shall be deemed to be one which is independently owned and operated and which is not dominant in its field of operation. In addition to the foregoing criteria the Administrator, in making a detailed definition, may use these criteria, among others: Number of employees and dollar volume of business. Where the number of employees is used as one of the criteria in making such definition for any of the purposes of this 1 Small Business Administration: Under President. Independent agency. Act, the maximum number of employees which a si business concern may have under the definition vary from industry to industry to the extent neces to reflect differing characteristics of such industries to take proper account of other relevant factors. "SEC. 4. (a) In order to carry out the policies of Act there is hereby created an agency under the r 'Small Business Administration' (herein referred t the Administration), which Administration shal under the general direction and supervision of the P dent and shall not be affiliated with or be within any of agency or department of the Federal Government. principal office of the Administration shall be locate the District of Columbia. The Administration establish such branch and regional offices in other pl in the United States as may be determined by the Ad istrator of the Administration. As used in this Act term 'United States' includes the several States, Territories and possessions of the United States, Commonwealth of Puerto Rico, and the Distric Columbia. "(b) The management of the Administration sha Administrator. vested in an Administrator who shall be appointed f civilian life by the President, by and with the advice consent of the Senate, and who shall be a person of standing qualifications known to be familiar and syn thetic with small-business needs and problems. Administrator shall not engage in any other busin vocation, or employment than that of serving as ministrator. The Administrator is authorized to point three Deputy Administrators to assist in the ex tion of the functions vested in the Administration. "(c) The Administration is authorized to ob money from the Treasury of the United States for in the performance of the powers and duties grante or imposed upon it by law, not to exceed a tota $975,000,000 outstanding at any one time. For purpose appropriations not to exceed $975,000,000 2 hereby authorized to be made to a revolving fund in Deputy Revolving funds. 2 1 Sec. 201 of the Small Business Investment Act provides for a f Deputy Administrator, as follows: "SEC. 201. There is hereby established in the Small Business Adr tration a division to be known as the Small Business Investment Div The Division shall be headed by a Deputy Administrator who sha appointed by the Administrator, and shall receive compensation a rate provided by law for other deputy administrators of the Small ness Administration. The powers conferred by this Act upon Administration shall be exercised by the Administration through Small Business Investment Division, and the powers herein conf upon the Administrator shall be exercised by him through the D Administrator appointed hereunder. In the performance of, and respect to the functions, powers, and duties vested by this Act Administrator and the Administration shall (in addition to any auth otherwise vested by this Act) have the functions, powers, and duti forth in the Small Business Act, and the provisions of sections 13 a of that Act insofar as applicable, are extended to apply to the func of the Administrator and the Administration under this Act." 2 Increased from $650,000,000 to $900,000,000 by Sec. 202(a) (: PL 85-699 and from $900,000,000 to $975,000,000 by PL 86-367. Business loans: Disaster loans: Prime sury. Advances shall be made to the Administra- Small Business Act: $250,000,000. Board. "(d) There is hereby created the Loan Policy Board of Loan Policy "SEC. 5. (a) The Administration shall have power to adopt, alter, and use a seal, which shall be judicially noticed. The Administrator is authorized, subject to the civil-service and classification laws, to select, employ, appoint, and fix the compensation of such officers, employees, attorneys, and agents as shall be necessary to carry out the provisions of this Act; to define their authority and duties; to provide bonds for them in such Language added by Sec. 202 (a) (2) of PL 85-699. Administrative powers. 1 Administrator may: Sue and be sued. Dispose of property. Utilize property. Collect claims. amounts as the Administrator shall determine; an pay the costs of qualification of certain of ther notaries public. The Administration, with the co of any board, commission, independent establishmen executive department of the Government, may avail i on a reimbursable or nonreimbursable basis of the u information, services, facilities (including any field ice thereof), officers, and employees thereof, in car out the provisions of this Act. Subject to the stand and procedures under section 505 of the Classifica Act of 1949, as amended, not to exceed fifteen posi in the Administration may be placed in grades 16 and 18 of the General Schedule established by that and any such positions shall be additional to the r ber authorized by such section. "(b) In the performance of, and with respect to functions, powers, and duties vested in him by this the Administrator may "(1) sue and be sued in any court of record State having general jurisdiction, or in any Ur States district court, and jurisdiction is confe upon such district court to determine such co versies without regard to the amount in controve but no attachment, injunction, garnishment other similar process, mesne or final, shall be is against the Administrator or his property; "(2) under regulations prescribed by him, as or sell at public or private sale, or otherwise dis of for cash or credit, in his discretion and upon terms and conditions and for such considera as the Administrator shall determine to be rea able, any evidence of debt, contract, claim, pers property, or security assigned to or held by hi connection with the payment of loans granted u this Act, and to collect or compromise all obligat assigned to or held by him and all legal or equit rights accruing to him in connection with payment of such loans until such time as such gations may be referred to the Attorney Gen for suit or collection; "(3) deal with, complete, renovate, impı modernize, insure, or rent, or sell for cash or cr upon such terms and conditions and for such sideration as the Administrator shall determin be reasonable, any real property conveyed t otherwise acquired by him in connection with payment of loans granted under this Act; (4) pursue to final collection, by way of com mise or otherwise, all claims against third pa assigned to the Administrator in connection loans made by him. This shall include autho to obtain deficiency judgments or otherwise in case of mortgages assigned to the Administrɛ Section 3709 of the Revised Statutes, as amended (41 U. S. C., sec. 5), shall not be construed to apply to any contract of hazard insurance or to any purchase or contract for services or supplies on account of property obtained by the Administrator as a result of loans made under this Act if the premium therefor or the amount thereof does not exceed $1,000. The power to convey and to execute in the name of the Administrator deeds of conveyance, deeds of release, assignments and satisfactions of mortgages, and any other written instrument relating to real property or any interest therein acquired by the Administrator pursuant to the provisions of this Act may be exercised by the Administrator or by any officer or agent appointed by him without the execution of any express delegation of power or power of attorney. Nothing in this section shall be construed to prevent the Administrator from delegating such power by order or by power of attorney, in his discretion, to any officer or agent he may appoint; property. (5) acquire, in any lawful manner, any property Acquire (real, personal, or mixed, tangible or intangible), whenever deemed necessary or appropriate to the conduct of the activities authorized in sections 7(a) and 7(b); regulations. "(6) make such rules and regulations as he deems Issue "(7) in addition to any powers, functions, priv- Employ and temporary employees. reimburse "(8) pay the transportation expenses and per diem in lieu of subsistence expenses, in accordance with the Travel Expense Act of 1949, for travel of any person employed by the Administration to render temporary services not in excess of six months in connection with any disaster referred to in section 7(b) from place of appointment to, and while at, the disaster area and any other temporary posts of duty and return upon completion of the assignment; and "(9) accept the services and facilities of Federal, Accept free State, and local agencies and groups, both public and private, and utilize such gratuitous services and 60995-60 services. |