View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML

SBA RIN: 3245-AE40 Publication ID: Fall 1999 
Title: ●New Markets Venture Capital Program 
Abstract: The New Markets Venture Capital (NMVC) program will help spur economic development in some of America's under-invested communities through a public-private partnership encouraging venture capital investing and intensive technical assistance to small businesses in low- and moderate-income areas. 
Agency: Small Business Administration(SBA)  Priority: Other Significant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: Not Yet Determined   

Statement of Need: This initiative provides equity-type capital to smaller businesses located in low- and moderate-income areas whose needs are more modest than the typical recipient of SBIC financing ($50,000 - $300,000, vs. $300,000 - $5 million for SBICs) and where significant technical assistance is an essential element of investment.

Summary of the Legal Basis: Not yet required by statute or court order. An NMVC bill is expected to be introduced in Congress in the fall of 1999.

Alternatives: SBA expects that Congress will construct a statute based on a Presidential initiative to create this program. The NMVC program will confer benefits and is not designed to address a risk for which there may be alternative solutions.

Anticipated Costs and Benefits: This rulemaking will require a small SBA staff to administer. No Federal agency other than SBA will incur costs. This program will benefit small businesses by providing equity-type capital and specialized technical assistance to previously underserved small businesses in low- and moderate-income areas.

Risks: This regulation addresses no risks to the public health and safety or to the environment. SBA does not anticipate substantial costs or risks associated with the proposed regulations.

Timetable:
Action Date FR Cite
NPRM  06/00/2000    
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Small Entities Affected: Businesses 
Included in the Regulatory Plan: Yes 
Agency Contact:
Saunders Miller
Senior Policy Advisor
Small Business Administration
Suite 6300, 409 Third Street SW,
Washington, DC 20416
Phone:202 205-3646