[USC02] 15 USC 689a: Purposes
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15 USC 689a: Purposes Text contains those laws in effect on August 22, 2019
From Title 15-COMMERCE AND TRADECHAPTER 14B-SMALL BUSINESS INVESTMENT PROGRAMSUBCHAPTER III-INVESTMENT DIVISION PROGRAMSPart B-New Markets Venture Capital Program
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§689a. Purposes

The purposes of the New Markets Venture Capital Program established under this part are-

(1) to promote economic development and the creation of wealth and job opportunities in low-income geographic areas and among individuals living in such areas by encouraging developmental venture capital investments in smaller enterprises primarily located in such areas; and

(2) to establish a developmental venture capital program, with the mission of addressing the unmet equity investment needs of small enterprises located in low-income geographic areas, to be administered by the Administrator-

(A) to enter into participation agreements with New Markets Venture Capital companies;

(B) to guarantee debentures of New Markets Venture Capital companies to enable each such company to make developmental venture capital investments in smaller enterprises in low-income geographic areas; and

(C) to make grants to New Markets Venture Capital companies, and to other entities, for the purpose of providing operational assistance to smaller enterprises financed, or expected to be financed, by such companies.

(Pub. L. 85–699, title III, §352, as added Pub. L. 106–554, §1(a)(8) [§1(b)(3)], Dec. 21, 2000, 114 Stat. 2763 , 2763A-655.)