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SBA RIN: 3245-AE40 Publication ID: Spring 2000 
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: Previously 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   
Legal Deadline:  None

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 was 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.

Action Date FR Cite
NPRM  06/00/2000    
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
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