WHAT THE LAW DOINCongress, in plain words

The law › Title 15, Commerce and Trade › Chapter 14B

15 U.S.C. 696: Loans for plant acquisition, construction, conversion and expansion

Created in 1958 by Public Law 85-699. Changed by 17 later laws. 1 bill in this Congress would change it.

4 other sections of the Code cite this one, including 15 U.S.C. 634, 15 U.S.C. 636, 15 U.S.C. 697, 15 U.S.C. 697g.

1 part of federal rules cite it as their authority, written by Small Business Administration (1).

This Congress

  • H.R. 4153 Supporting Trade and Rebuilding Opportunity for National Growth Act · introduced · would change (2)

How it got here

2020

  • Pub. L. 116–260, §328(a)(2)(A), substituted "100 percent" for "50 percent" in introductory provisions. (Consolidated Appropriations Act, 2021) Law text · (7)
  • Pub. L. 116–260, §328(a)(2)(B), added subpar. (C). (Consolidated Appropriations Act, 2021) Law text · (7)

2018

  • Pub. L. 115–371 redesignated introductory provisions of cl. (ii) as subcl. (I) of cl. (ii) and inserted heading, redesignated former subcls. (I) and (II) as items (aa) and (bb), respectively, of subcl. (I) and realigned margins, in item (aa), substituted "is more than the Federal b… Law text · (3)

2010

  • Pub. L. 111–240, §1122(c), substituted "clause (ii), (iii), (iv), or (v)" for "subparagraph (B) or (C)". (Small Business Jobs Act of 2010) Law text · (2)
  • Pub. L. 111–240, §1112(1), substituted "$5,000,000" for "$1,500,000". (Small Business Jobs Act of 2010) Law text · (2)
  • Pub. L. 111–240, §1112(2), substituted "$5,000,000" for "$2,000,000". (Small Business Jobs Act of 2010) Law text · (2)
  • Pub. L. 111–240, §1112(3)–(5), substituted "$5,500,000" for "$4,000,000". (Small Business Jobs Act of 2010) Law text · (2)
  • Pub. L. 111–240, §1122(b), struck out subpar. (C) relating to refinancing not involving expansions. (Small Business Jobs Act of 2010) Law text · (7)
  • Pub. L. 111–240, §1122(a), added subpar. (C). (Small Business Jobs Act of 2010) Law text · (7)

2009

  • Pub. L. 111–5 added par. (7). (American Recovery and Reinvestment Act of 2009) Law text · (7)

2007

  • Pub. L. 110–140 added cls. (iv) and (v). (Energy Independence and Security Act of 2007) Law text · (2), (v)

2004

  • Pub. L. 108–447 amended par. (2) generally. Prior to amendment, par. (2) read as follows: "Loans made by the Administration under this section shall be limited to $1,000,000 for each such identifiable small business concern, except loans meeting the criteria specified in section 695(d)(3)… (Consolidated Appropriations Act, 2005) Law text · (2)

2000

  • Pub. L. 106–554, §1(a)(9) [title III, §303], amended par. (2) generally. Prior to amendment, par. (2) read as follows: "Loans made by the Administration under this section shall be limited to $750,000 for each such identifiable small-business concern, except loans meeting the criteria spe… (Consolidated Appropriations Act, 2001) Law text · (2)
  • Pub. L. 106–554, §1(a)(9) [title II, §208(b)], designated existing provisions as cl. (i), inserted heading, and added cl. (ii). (Consolidated Appropriations Act, 2001) Law text · (3)
  • Pub. L. 106–554, §1(a)(9) [title VIII, §802(b)], added par. (6). (Consolidated Appropriations Act, 2001) Law text · (6)

1997

  • Pub. L. 105–135, §221(1), added par. (1) and struck out former par. (1) which read as follows: "The proceeds of any such loan shall be used solely by such borrower to assist in identifiable small-business concern and for a sound business purpose approved by the Administration." (Small Business Reauthorization Act of 1997) Law text · (1)
  • Pub. L. 105–135, §221(2), added subpars. (D) and (E). (Small Business Reauthorization Act of 1997) Law text · (3), (E)
  • Pub. L. 105–135, §221(3), added par. (5). (Small Business Reauthorization Act of 1997) Law text · (5)

1996

  • Pub. L. 104–208 inserted heading and amended text of par. (3) generally. Prior to amendment, text read as follows: "Any development company assisted under this section must meet criteria established by the Administration, including the extent of participation to be required or amount of p… (Magnuson-Stevens Fishery Conservation and Management Act) Law text · (3)

1990

  • Pub. L. 101–574 struck out period at end and inserted ", except loans meeting the criteria specified in section 695(d)(3) of this title shall be limited to $1,000,000 for each such identifiable small business concern." · (2)

1988

  • Pub. L. 100–590, §116(b)(1), inserted "Loans for plant acquisition, construction, conversion, and expansion" as section catchline.
  • Pub. L. 100–418 substituted "$750,000" for "$500,000". · (2)
  • Pub. L. 100–590, §116(a), added par. (4). · (4)

1981

  • Pub. L. 97–35 redesignated pars. (2) to (4) as (1) to (3), respectively. Former par. (1), which provided that all loans made shall be so secured as reasonably to assure repayment and that in agreements to participate in loans on a deferred basis, such participation by the Administ… · (1), (2), (3), (4)
  • Pub. L. 97–35 struck out par. (5) which provided that loans, including extensions and renewals, may be made for a period not exceeding twenty-five years and that an extension may be granted up to ten years, if such extension will aid in the orderly liquidation of the loan, and that the Ad… · (5)

1978

  • Pub. L. 95–507 inserted provisions relating to derivation of community injection funds. · (4)

1976

  • Pub. L. 94–305, §108(a), inserted "acquisition," after "plant" in introductory text.
  • Pub. L. 94–305, §110, substituted "$500,000" for "$350,000". · (3)

1961

  • Pub. L. 87–341, §10(1), substituted "$350,000" for "$250,000". · (3)
  • Pub. L. 87–341, §10(2), substituted "twenty-five" for "ten" before "years plus such additional period". · (5)
  • Pub. L. 87–27 struck out par. (6) which provided for termination of authority of the Administration to make loans to local development companies after June 30, 1961. · (6)

Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.