15 U.S.C. § 634g — Budgetary line item and authorization of

Page 802 TITLE 15—COMMERCE AND TRADE § 634d § 634d. Staff and powers of Office of Advocacy In carrying out the provisions of sections 634a to 634g of this title, the Chief Counsel for Advo- cacy may— (1) employ and fix the compensation of such additional staff personnel as is deemed nec- essary, without regard to the provisions of title 5, governing appointments in the com- petitive service, and without regard to chapter 51, and subchapter III of chapter 53 of such title relating to classification and General Schedule pay rates but at rates not in excess of the lowest rate for GS–15 of the General Schedule: Provided, however, That not more than 14 staff personnel at any one time may be employed and compensated at a rate not in ex- cess of GS–15, step 10, of the General Schedule; (2) procure temporary and intermittent serv- ices to the same extent as is authorized by section 3109 of title 5; (3) consult with experts and authorities in the fields of small business investment, ven- ture capital, investment and commercial banking and other comparable financial insti- tutions involved in the financing of business, and with individuals with regulatory, legal, economic, or financial expertise, including members of the academic community, and in- dividuals who generally represent the public interest; (4) utilize the services of the National Advi- sory Council established pursuant to the pro- visions of section 637(b)(13) of this title and in accordance with the provisions of such stat- ute, also appoint such other advisory boards or committees as is reasonably appropriate and necessary to carry out the provisions of sec- tions 634a to 634g of this title; and (5) hold hearings and sit and act at such times and places as he may deem advisable. (Pub. L. 94–305, title II, § 204, June 4, 1976, 90 Stat. 669; Pub. L. 96–302, title IV, § 402, July 2, 1980, 94 Stat. 850; Pub. L. 103–403, title VI, §§ 605(b), 610, Oct. 22, 1994, 108 Stat. 4203, 4204.) Editorial Notes REFERENCES IN TEXT The General Schedule, referred to in par. (1), is set out under section 5332 of Title 5. CODIFICATION Section was not enacted as part of the Small Busi- ness Act which comprises this chapter. AMENDMENTS 1994—Pub. L. 103–403, §§ 605(b), 610(1), in introductory provisions substituted ‘‘provisions of sections 634a to 634g of this title, the Chief’’ for ‘‘provisions of section 634b of this title, after consultation with and subject to the approval of the Administrator, the Chief’’. Par. (1). Pub. L. 103–403, § 610(2), substituted ‘‘14’’ for ‘‘ten’’ before ‘‘staff personnel’’. 1980—Par. (1). Pub. L. 96–302 authorized employment at any one time of ten staff personnel at rate of com- pensation not in excess of GS–15, step 10, of the General Schedule. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1980 AMENDMENT Amendment by Pub. L. 96–302 effective Oct. 1, 1980, see section 507 of Pub. L. 96–302, set out as a note under section 631 of this title. § 634e. Assistance of Government agencies Each department, agency, and instrumen- tality of the Federal Government is authorized and directed to furnish to the Chief Counsel for Advocacy such reports and other information as he deems necessary to carry out his functions under sections 634a to 634g of this title. (Pub. L. 94–305, title II, § 205, June 4, 1976, 90 Stat. 670.) Editorial Notes CODIFICATION Section was not enacted as part of the Small Busi- ness Act which comprises this chapter. § 634f. Reports The Chief Counsel may from time to time pre- pare and publish such reports as he deems appro- priate. Not later than one year after June 4, 1976, he shall transmit to the Congress, the President and the Administration, a full report containing his findings and specific rec- ommendations with respect to each of the func- tions referred to in section 634b of this title, in- cluding specific legislative proposals and rec- ommendations for administration or other ac- tion. Not later than 6 months after June 4, 1976, he shall prepare and transmit a preliminary re- port on his activities. The reports shall not be submitted to the Office of Management and Budget or to any other Federal agency or execu- tive department for any purpose prior to trans- mittal to the Congress and the President. (Pub. L. 94–305, title II, § 206, June 4, 1976, 90 Stat. 670.) Editorial Notes CODIFICATION Section was not enacted as part of the Small Busi- ness Act which comprises this chapter. § 634g. Budgetary line item and authorization of appropriations (a) Appropriation requests Each budget of the United States Government submitted by the President under section 1105 of title 31 shall include a separate statement of the amount of appropriations requested for the Of- fice of Advocacy of the Small Business Adminis- tration, which shall be designated in a separate account in the General Fund of the Treasury. (b) Administrative operations The Administrator of the Small Business Ad- ministration shall provide the Office of Advo- cacy with appropriate and adequate office space at central and field office locations, together with such equipment, operating budget, and communications facilities and services as may be necessary, and shall provide necessary main- tenance services for such offices and the equip- ment and facilities located in such offices. (c) Authorization of appropriations There are authorized to be appropriated such sums as are necessary to carry out sections 634a to 634g of this title. Any amount appropriated under this subsection shall remain available, without fiscal year limitation, until expended. Page 803 TITLE 15—COMMERCE AND TRADE § 636 (Pub. L. 94–305, title II, § 207, as added Pub. L. 111–240, title I, § 1602(b), Sept. 27, 2010, 124 Stat. 2551.) Editorial Notes CODIFICATION Section was not enacted as part of the Small Busi- ness Act which comprises this chapter. PRIOR PROVISIONS A prior section 634g, Pub. L. 94–305, title II, § 207, June 4, 1976, 90 Stat. 671, related to authorization of appro- priations, prior to repeal by Pub. L. 111–240, title I, § 1602(b), Sept. 27, 2010, 124 Stat. 2551. § 635. Deposit of moneys; depositaries, custodians, and fiscal agents; contributions to employees’ compensation funds (a) All moneys of the Administration not oth- erwise employed may be deposited with the Treasury of the United States subject to check by authority of the Administration. The Federal Reserve banks are authorized and directed to act as depositaries, custodians, and fiscal agents for the Administration in the general perform- ance of its powers conferred by this chapter. Any banks insured by the Federal Deposit Insur- ance Corporation, when designated by the Sec- retary of the Treasury, shall act as custodians and financial agents for the Administration. Each Federal Reserve bank, when designated by the Administrator as fiscal agent for the Admin- istration, shall be entitled to be reimbursed for all expenses incurred as such fiscal agent. (b) The Administrator shall contribute to the employees’ compensation fund, on the basis of annual billings as determined by the Secretary of Labor, for the benefit payments made from such fund on account of employees engaged in carrying out functions financed by the revolving fund established by section 633(c) of this title. The annual billings shall also include a state- ment of the fair portion of the cost of the ad- ministration of such fund, which shall be paid by the Administrator into the Treasury as mis- cellaneous receipts. (Pub. L. 85–536, § 2[6], July 18, 1958, 72 Stat. 387.) Editorial Notes PRIOR PROVISIONS Prior similar provisions were contained in section 206 of act July 30, 1953, ch. 282, title II, 67 Stat. 235, which was previously classified to this section. See Codifica- tion note set out under section 631 of this title. § 636. Additional powers (a) Loans to small business concerns; allowable purposes; qualified business; restrictions and limitations The Administration is empowered to the ex- tent and in such amounts as provided in advance in appropriation Acts to make loans for plant acquisition, construction, conversion, or expan- sion, including the acquisition of land, material, supplies, equipment, and working capital, and to make loans to any qualified small business con- cern, including those owned by qualified Indian tribes, for purposes of this chapter. Such financings may be made either directly or in co- operation with banks or other financial institu- tions through agreements to participate on an immediate or deferred (guaranteed) basis. These powers shall be subject, however, to the fol- lowing restrictions, limitations, and provisions: (1) IN GENERAL.— (A) CREDIT ELSEWHERE.— (i) IN GENERAL.—The Administrator has the authority to direct, and conduct over- sight for, the methods by which lenders de- termine whether a borrower is able to ob- tain credit elsewhere. No financial assist- ance shall be extended pursuant to this subsection if the applicant can obtain credit elsewhere. No immediate participa- tion may be purchased unless it is shown that a deferred participation is not avail- able; and no direct financing may be made unless it is shown that a participation is not available. (ii) LIQUIDITY.—On and after October 1, 2015, the Administrator may not guarantee a loan under this subsection if the lender determines that the borrower is unable to obtain credit elsewhere solely because the liquidity of the lender depends upon the guaranteed portion of the loan being sold on the secondary market. (B) BACKGROUND CHECKS.—Prior to the ap- proval of any loan made pursuant to this subsection, or section 503 of the Small Busi- ness Investment Act of 1958 [15 U.S.C. 697], the Administrator may verify the appli- cant’s criminal background, or lack thereof, through the best available means, including, if possible, use of the National Crime Infor- mation Center computer system at the Fed- eral Bureau of Investigation. (C) LENDING LIMITS OF LENDERS.—On and after October 1, 2015, the Administrator may not guarantee a loan under this subsection if the sole purpose for requesting the guar- antee is to allow the lender to exceed the legal lending limit of the lender. (2) LEVEL OF PARTICIPATION IN GUARANTEED LOANS.— (A) IN GENERAL.—Except as provided in subparagraphs (B), (D), (E), and (F), in an agreement to participate in a loan on a de- ferred basis under this subsection (including a loan made under the Preferred Lenders Program), such participation by the Admin- istration shall be equal to— (i) 75 percent of the balance of the fi- nancing outstanding at the time of dis- bursement of the loan, if such balance ex- ceeds $150,000; or (ii) 85 percent of the balance of the fi- nancing outstanding at the time of dis- bursement of the loan, if such balance is less than or equal to $150,000. (B) REDUCED PARTICIPATION UPON RE- QUEST.— (i) IN GENERAL.—The guarantee percent- age specified by subparagraph (A) for any loan under this subsection may be reduced upon the request of the participating lend- er. (ii) PROHIBITION.—The Administration shall not use the guarantee percentage re-