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7 U.S.C. § 2009cc–1 — Definitions
Federal law — U.S. Code and appendices · legal_authorities
In this subchapter:
(1) **Articles** — The term “articles” means articles of incorporation for an incorporated body or the functional equivalent or other similar documents specified by the Secretary for other business entities.
(2) **Developmental capital** — The term “developmental capital” means capital in the form of equity capital investments in rural business investment companies with an objective of fostering economic development in rural areas.
(3) **Employee welfare benefit plan; pension plan**
(A) *In general* — The terms “employee welfare benefit plan” and “pension plan” have the meanings given the terms in [section 1002 of title 29](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1002&num=0&edition=prelim).
(B) *Inclusions* — The terms “employee welfare benefit plan” and “pension plan” include—
(i) public and private pension or retirement plans subject to this subchapter; and
(ii) similar plans not covered by this subchapter that have been established, and that are maintained, by the Federal Government or any State (including by a political subdivision, agency, or instrumentality of the Federal Government or a State) for the benefit of employees.
(4) **Equity capital** — The term “equity capital” means—
(A) common or preferred stock or a similar instrument, including subordinated debt with equity features; and
(B) any other type of equity-like financing that might be necessary to facilitate the purposes of this Act, excluding financing such as senior debt or other types of financing that competes with routine loanmaking of commercial lenders.
(5) **Leverage** — The term “leverage” includes—
(A) debentures purchased or guaranteed by the Secretary;
(B) participating securities purchased or guaranteed
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 2009cc–1
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Stable record: federal_law:legal_authorities:record_usc_d0afc54859bef4ca4f31cf57
Source file: Laws/federal/codes/united-states-code/title-7/section-2009cc1-definitions--1042066681.md
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Source location: Title 7, Chapter 50, § 2009cc–1; chapter-050-agricultural-credit.md
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In this subchapter:
(1) **Articles** — The term “articles” means articles of incorporation for an incorporated body or the functional equivalent or other similar documents specified by the Secretary for other business entities.
(2) **Developmental capital** — The term “developmental capital” means capital in the form of equity capital investments in rural business investment companies with an objective of fostering economic development in rural areas.
(3) **Employee welfare benefit plan; pension plan**
(A) *In general* — The terms “employee welfare benefit plan” and “pension plan” have the meanings given the terms in [section 1002 of title 29](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section1002&num=0&edition=prelim).
(B) *Inclusions* — The terms “employee welfare benefit plan” and “pension plan” include—
(i) public and private pension or retirement plans subject to this subchapter; and
(ii) similar plans not covered by this subchapter that have been established, and that are maintained, by the Federal Government or any State (including by a political subdivision, agency, or instrumentality of the Federal Government or a State) for the benefit of employees.
(4) **Equity capital** — The term “equity capital” means—
(A) common or preferred stock or a similar instrument, including subordinated debt with equity features; and
(B) any other type of equity-like financing that might be necessary to facilitate the purposes of this Act, excluding financing such as senior debt or other types of financing that competes with routine loanmaking of commercial lenders.
(5) **Leverage** — The term “leverage” includes—
(A) debentures purchased or guaranteed by the Secretary;
(B) participating securities purchased or guaranteed by the Secretary; and
(C) preferred securities outstanding as of May 13, 2002.
(6) **License** — The term “license” means a license issued by the Secretary as provided in [section 2009cc–3(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2009cc–3/e&num=0&edition=prelim).
(7) **Limited liability company** — The term “limited liability company” means a business entity that is organized and operating in accordance with a State limited liability company law approved by the Secretary.
(8) **Member** — The term “member” means, with respect to a rural business investment company that is a limited liability company, a holder of an ownership interest or a person otherwise admitted to membership in the limited liability company.
(9) **Operational assistance** — The term “operational assistance” means management, marketing, and other technical assistance that assists a rural business concern with business development.
(10) **Participation agreement** — The term “participation agreement” means an agreement, between the Secretary and a rural business investment company granted final approval under [section 2009cc–3(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2009cc–3/e&num=0&edition=prelim), that requires the rural business investment company to make investments in smaller enterprises in rural areas.
(11) **Private capital**
(A) *In general* — The term “private capital” means the total of—
(i)
(I) the paid-in capital and paid-in surplus of a corporate rural business investment company;
(II) the contributed capital of the partners of a partnership rural business investment company; or
(III) the equity investment of the members of a limited liability company rural business investment company; and
(ii) unfunded binding commitments from investors that meet criteria established by the Secretary to contribute capital to the rural business investment company, except that—
(I) unfunded commitments may be counted as private capital for purposes of approval by the Secretary of any request for leverage; but
(II) leverage shall not be funded based on the commitments.
(B) *Exclusions* — The term “private capital” does not include—
(i) any funds borrowed by a rural business investment company from any source;
(ii) any funds obtained through the issuance of leverage; or
(iii) any funds obtained directly or indirectly from the Federal Government or any State (including by a political subdivision, agency, or instrumentality of the Federal Government or a State), except for—
(I) funds obtained from the business revenues (excluding any governmental appropriation) of any federally chartered or government-sponsored enterprise established prior to May 13, 2002;
(II) funds invested by an employee welfare benefit plan or pension plan; and
(III) any qualified nonprivate funds (if the investors of the qualified nonprivate funds do not control, directly or indirectly, the management, board of directors, general partners, or members of the rural business investment company).
(12) **Qualified nonprivate funds** — The term “qualified nonprivate funds” means any—
(A) funds directly or indirectly invested in any applicant or rural business investment company on or before May 13, 2002, by any Federal agency, other than the Department of Agriculture, under a provision of law explicitly mandating the inclusion of those funds in the definition of the term “private capital”; and
(B) funds invested in any applicant or rural business investment company by 1 or more entities of any State (including by a political subdivision, agency, or instrumentality of the State and including any guarantee extended by those entities) in an aggregate amount that does not exceed 33 percent of the private capital of the applicant or rural business investment company.
(13) **Rural business concern** — The term “rural business concern” means—
(A) a public, private, or cooperative for-profit or nonprofit organization;
(B) a for-profit or nonprofit business controlled by an Indian tribe on a Federal or State reservation or other federally recognized Indian tribal group; or
(C) any other person or entity;
that primarily operates in a rural area, as determined by the Secretary.
(14) **Rural business investment company** — The term “rural business investment company” means a company that—
(A) has been granted final approval by the Secretary under [section 2009cc–3(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2009cc–3/e&num=0&edition=prelim); and
(B) has entered into a participation agreement with the Secretary.
(15) **Smaller enterprise** — The term “smaller enterprise” means any rural business concern that, together with its affiliates—
(A) has—
(i) a net financial worth of not more than $6,000,000, as of the date on which assistance is provided under this subchapter to the rural business concern; and
(ii) an average net income for the 2-year period preceding the date on which assistance is provided under this subchapter to the rural business concern, of not more than $2,000,000, after Federal income taxes (excluding any carryover losses), except that, for purposes of this clause, if the rural business concern is not required by law to pay Federal income taxes at the enterprise level, but is required to pass income through to the shareholders, partners, beneficiaries, or other equitable owners of the business concern, the net income of the business concern shall be determined by allowing a deduction in an amount equal to the total of—
(I) if the rural business concern is not required by law to pay State (and local, if any) income taxes at the enterprise level, the net income (determined without regard to this clause), multiplied by the marginal State income tax rate (or by the combined State and local income tax rates, as applicable) that would have applied if the business concern were a corporation; and
(II) the net income (so determined) less any deduction for State (and local) income taxes calculated under subclause (I), multiplied by the marginal Federal income tax rate that would have applied if the rural business concern were a corporation; or
(B) satisfies the standard industrial classification size standards established by the Administrator of the Small Business Administration for the industry in which the rural business concern is primarily engaged.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Notwithstanding any other provision of law, whenever the Secretary of Agriculture determines that additional legislative authority is necessary to develop new agricultural programs involving supply adjustments or marketing regulations through marketing orders, marketing quotas, or price support programs with respect to any agricultural commodity, or to make substantial revisions in any existing agricultural legislation or programs, he may consult and advise with farmers, farm organizations, and appropriate commodity organizations, if any, for the commodity involved, to review the problems involved, the need for new legislation, and the provisions which should be included in any such proposed legislation.
**(b)** In addition, whenever and to the extent he deems such action necessary or desirable, the Secretary of Agriculture may consult and advise with any person or group of persons, or organizations, including farmers, handlers, processors, or others connected with the production, processing, handling, or use of the commodity involved, with respect to the problems involved and need for legislation and the provisions which should be included in any such proposed legislation.
**(c)** In order that the Secretary of Agriculture may be assured of being able to obtain the advice of any such person or organization, he is authorized, whenever he determines such action necessary, to pay for each day’s attendance at meetings and while traveling to and from such meetings, transportation expenses and in lieu of subsistence, a per diem in the amount authorized under subchapter I of chapter 57 of title 5 for Federal employees. No salary or other compensation shall be paid.
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 1911
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Federal law — U.S. Code and appendices · legal_authorities
For purposes of this subchapter:
(1) The terms “employee welfare benefit plan” and “welfare plan” mean any plan, fund, or program which was heretofore or is hereafter established or maintained by an employer or by an employee organization, or by both, to the extent that such plan, fund, or program was established or is maintained for the purpose of providing for its participants or their beneficiaries, through the purchase of insurance or otherwise, (A) medical, surgical, or hospital care or benefits, or benefits in the event of sickness, accident, disability, death or unemployment, or vacation benefits, apprenticeship or other training programs, or day care centers, scholarship funds, or prepaid legal services, or (B) any benefit described in [section 186(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title29-section186/c&num=0&edition=prelim) (other than pensions on retirement or death, and insurance to provide such pensions).
(2)
(A) Except as provided in subparagraph (B), the terms “employee pension benefit plan” and “pension plan” mean any plan, fund, or program which was heretofore or is hereafter established or maintained by an employer or by an employee organization, or by both, to the extent that by its express terms or as a result of surrounding circumstances such plan, fund, or program—
(i) provides retirement income to employees, or
(ii) results in a deferral of income by employees for periods extending to the termination of covered employment or beyond,
regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan or the method of distributing benefits from the plan. A distribution from a plan, fund, or program shall not be treated as made
Source: Supplied U.S. Code snapshot — release unconfirmed · 29 U.S.C. § 1002
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