The kinds of investment that may be left out of the leverage count
What the document says“"the company or companies in-- "(I) a small business concern located in a low-income geographic area (as defined in section 351 of this title) or in a rural area (as defined in section 343(a)(13) of the Agricultural Act of 1961 (7 U.S.C. 1991(a)(13))); "(II) a small business concern operating primarily in a covered technology category (as defined in section 149(e) of title 10, United States Code); or "(III) a small manufacturer (as defined in section 501(e)(6) of this Act)."”
Rewrites the rest of clause (i) of section 303(b)(2)(C) of the Small Business Investment Act of 1958. As rewritten, the amounts a company or companies may leave out of the leverage calculation are those invested in a small business concern located in a low-income geographic area, as defined in section 351 of that title, or in a rural area, as defined in section 343(a)(13) of the Agricultural Act of 1961; in a small business concern operating primarily in a covered technology category, as defined in section 149(e) of title 10, United States Code; or in a small manufacturer, as defined in section 501(e)(6) of that Act. Those definitions sit in statutes that are not indexed here.
What the document actually says“"the company or companies in-- "(I) a small business concern located in a low-income geographic area (as defined in section 351 of this title) or in a rural area (as defined in section 343(a)(13) of the Agricultural Act of 1961 (7 U.S.C. 1991(a)(13))); "(II) a small business concern operating primarily in a covered technology category (as defined in section 149(e) of title 10, United States Code); or "(III) a small manufacturer (as defined in section 501(e)(6) of this Act)."”
Three kinds of firm are named. One is a small firm in a low income area or a rural area. One is a small firm working mainly in a covered tech field. One is a small maker of goods.
Money put into these firms may be left out of a count. That count is used to set how much a fund may borrow. Each kind is spelled out in another law. Those laws are not on this site.
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