123STA T . 1 59PUBLIC LA W 111 – 5 —FE B.1 7, 2 0 09 ofsecti o n s 410, 411, a n d 41 2 t h ete rm‘ sma l l bu siness concern ’ means a business concern that meets the si z e standard for the p rimar y industry in w hich such business concern, and the affiliates of such business concern, is en g aged, as deter - mined by the A dministrator in accordance with the N orth Amer- ican I ndustry C lassification S ystem . ’’. ( d ) S TUDY—T he Administrator of the Small B usiness Adminis- tration shall conduct a study of the current funding structure of the surety bond program carried out under part B (1 5U .S.C. 69 4aetse q .) of title I V of the Small Business In v estment Act of 195 8 . The study shall include-- (1) an assessment of whether the program’s current funding framewor k and program fees are inhibiting the program’s growth
(2) an assessment of whether surety companies and small business concerns could benefit from an alternative funding structure; and (e) REPOR T—Not later than 180 days after the date of enact- ment of this Act, the Administrator shall submit to Congress a report on the results of the study required under subsection (d). (f) SU NS ET.—The amendments made by this section shall remain in effect until September 3 0, 2010. SEC.509 . ES TABLI S HM E N T OF SBA SECON D A RY MAR K ET LENDIN G A U THORITY. (a) P URPOSE.—The purpose of this section is to provide the Small Business Administration with the authority to establish a Secondary M arket L ending Authority within the SBA to make loans to the systemically important SBA secondary market broker- dealers who operate the SBA secondary market. (b) D E FI NITIONS.— F or purposes of this section
(1) The term ‘‘Administrator’’ means the Administrator of the SBA. (2) The term ‘‘SBA’’ means the Small Business Administra- tion. (3) The terms ‘‘Secondary Market Lending Authority’’ and ‘‘Authority’’ mean the office establishedunder subsection (c). (4) The term ‘‘SBA secondary market’’ meansthe market for the purchase and sale of loans originated, underwritten, and closed under the Small Business Act. (5) The term ‘‘Systemically Important Secondary Market Broker-Dealers’’ mean those entities designated under sub- section (c)(1) as vital to the continued operation of the SBA secondary market by reason of their purchase and sale of the government guaranteed portion of loans, or pools of loans,originated, underwritten, and closed under the Small Business Act. (c) RESPONSI B I L ITIES, AUT H ORITIES, O R GA NI Z ATION, AND LI M ITA- TIONS.— (1) DESIGNATION OF SYSTEMI C ALLY IMPORTANT SBA SEC- ONDARY MAR K ET BROKER-DEALERS.—The Administrator shall establish a process to designate, in consultation with the Board of G overnors of the Federal Reserve and the Secretary of the Treasury, Systemically Important Secondary Market Broker- Dealers. (2) E STABLISHMENT OF SBA SECONDARY MARKET LENDING AUTHORITY.— 15USC694anote.
