7 U.S.C. § §2009cc–1. Purposes — §2009cc–1. Purposes

FEDERAL · 7 U.S.C. · Chapter SUBCHAPTER VIII—RURAL BUSINESS INVESTMENT PROGRAM

§2009cc–1. Purposes

7 U.S.C. § §2009cc–1. Purposes

ChapterSUBCHAPTER VIII—RURAL BUSINESS INVESTMENT PROGRAM

This text of 7 U.S.C. § §2009cc–1. Purposes (§2009cc–1. Purposes) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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7 U.S.C. § §2009cc–1. Purposes.

Text

The purposes of the Rural Business Investment Program established under this subchapter are—

(1)to promote economic development and the creation of wealth and job opportunities in rural areas and among individuals living in those areas by encouraging developmental capital investments in smaller enterprises primarily located in rural areas; and

(2)to establish a developmental capital program, with the mission of addressing the unmet equity investment needs of small enterprises located in rural areas, by authorizing the Secretary—

(A)to enter into participation agreements with rural business investment companies;

(B)to guarantee debentures of rural business investment companies to enable each rural business investment company to make developmental capital investments in smaller enterpris

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The purposes of the Rural Business Investment Program established under this subchapter are—
(1) to promote economic development and the creation of wealth and job opportunities in rural areas and among individuals living in those areas by encouraging developmental capital investments in smaller enterprises primarily located in rural areas; and
(2) to establish a developmental capital program, with the mission of addressing the unmet equity investment needs of small enterprises located in rural areas, by authorizing the Secretary—
(A) to enter into participation agreements with rural business investment companies;
(B) to guarantee debentures of rural business investment companies to enable each rural business investment company to make developmental capital investments in smaller enterprises in rural areas; and
(C) to make grants to rural business investment companies, and to other entities, for the purpose of providing operational assistance to smaller enterprises financed, or expected to be financed, by rural business investment companies.

Source Credit

History

(Pub. L. 87–128, title III, §384B, as added Pub. L. 107–171, title VI, §6029, May 13, 2002, 116 Stat. 391; amended Pub. L. 115–334, title VI, §6426(b), Dec. 20, 2018, 132 Stat. 4770.)

Editorial Notes

Editorial Notes

Amendments
Par. (1). Pub. L. 115–334, §6426(b)(1), struck out "venture" before "capital investments".
Par. (2). Pub. L. 115–334, §6426(b)(2)(A), struck out "venture" before "capital program" in introductory provisions.
Par. (2)(B). Pub. L. 115–334, §6426(b)(2)(B), struck out "venture" before "capital investments".

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7 U.S.C. § §2009cc–1. Purposes, Counsel Stack Legal Research, https://law.counselstack.com/usc/7/§2009cc–1. Purposes.