A date limit comes out of the 1958 Act and college funds go in
What the document says“(2) in subparagraph (B)(iii)-- (A) in subclause (I), by striking "established prior to October 1, 1987"; (B) in subclause (II)-- (i) by striking "or" and inserting a comma; and (ii) by inserting ", foundation, endowment, or trust of any college or university" after "pension plan"”
Amends section 103(9) of the Small Business Investment Act of 1958, codified at 15 U.S.C. 662(9). In subclause (I) of subparagraph (B)(iii) it strikes the words "established prior to October 1, 1987". In subclause (II) it inserts ", foundation, endowment, or trust of any college or university" after "pension plan". What that subparagraph governs is set by the amended statute, which is not indexed here.
What the document actually says“(2) in subparagraph (B)(iii)-- (A) in subclause (I), by striking "established prior to October 1, 1987"; (B) in subclause (II)-- (i) by striking "or" and inserting a comma; and (ii) by inserting ", foundation, endowment, or trust of any college or university" after "pension plan"”
This part changes a list in a 1958 law. It drops a date rule. It adds a fund, gift or trust held by a college.
The 1958 law is not on this site. So the list itself is not shown here. This part only names the words to drop and the words to add.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.