7 U.S.C. § 2009cc–1 — Purposes
submitted 24 years ago by Pub. L. 87-128 to r/title-7-AGRICULTURE · 151 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
The purposes of the Rural* Business Investment Program established under this subchapter are—
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
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—
to enter into participation agreements with rural business investment companies;
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
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: (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.)
- 2002Enacted · Pub. L. 87-128 · 116 Stat. 391
- 2018Amended · Pub. L. 115-334 · 132 Stat. 4770
A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-128 on 2002-05-13.
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