Government money is ruled out, with named exceptions
What the document says“"(C) does not include any funds obtained directly or indirectly from any Federal, State, or local government or any government agency or instrumentality, except for funds described in subclauses (I) through (III) of subparagraph (B)(iii), for the purpose of approval by the Administrator of any request for leverage."”
Adds a new subparagraph (C) at the end of section 103(9) of the Small Business Investment Act of 1958. The added words rule out funds obtained directly or indirectly from any Federal, State or local government, or from any government agency or instrumentality, except funds described in subclauses (I) through (III) of subparagraph (B)(iii), for the purpose of approval by the Administrator of any request for leverage. What term the subparagraph belongs to is set by the amended statute, which is not indexed here.
What the document actually says“"(C) does not include any funds obtained directly or indirectly from any Federal, State, or local government or any government agency or instrumentality, except for funds described in subclauses (I) through (III) of subparagraph (B)(iii), for the purpose of approval by the Administrator of any request for leverage."”
Money from the government does not count. That covers federal, state and city money. It covers any government body. A few named kinds of money still count.
This rule is used when the head of the agency looks at a request to borrow. The list of kinds that still count sits in the older law. That law is not on this site.
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.