12 U.S.C. § 5701: Definitions

the Committee on Small Business and Entrepreneurship, the Committee on Agriculture, Nutrition, and Forestry, the Committee on Banking, Housing, and Urban Affairs, the Committee on Finance, the Committee on the Budget, and the Committee on Appropriations of the Senate; and the Committee on Small Business, the Committee on Agriculture, the Committee on Financial Services, the Committee on Ways and Means, the Committee on the Budget, and the Committee on Appropriations of the House of Representatives. has the same meaning as in section 1813(q) of this title ; and includes the National Credit Union Administration Board in the case of any credit union the deposits of which are insured in accordance with the Federal Credit Union Act [ 12 U.S.C. 1751 et seq.]. The term “enrolled loan” means a loan made by a financial institution lender that is enrolled by a participating State in an approved State capital access program in accordance with this chapter. The term “Federal contribution” means the portion of the contribution made by a participating State to, or for the account of, an approved State program that is made with Federal funds allocated to the State by the Secretary under section 5702 of this title . The term “financial institution” means any insured depository institution, insured credit union, or community development financial institution, as those terms are each defined in section 4702 of this title . The term “participating State” means any State that has been approved for participation in the Program under section 5703 of this title . The term “Program” means the State Small Business Credit Initiative established under this chapter. the participating State delivers funds to the entity as collateral; the entity provides funding from the arrangement back to the participating State; and the full amount of resulting funding from the arrangement, less any fees and other costs of the arrangement, is contributed to, or for the account of, an approved State program. depositing all required premium charges paid by the financial institution lender and by each borrower receiving a loan under an approved State program from that financial institution lender; depositing contributions made by the participating State, including State contributions made with Federal contributions; and covering losses on enrolled loans by disbursing accumulated funds. a State of the United States; the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of Northern Mariana Islands, Guam, American Samoa, and the United States Virgin Islands; when designated by a State of the United States, a political subdivision of that State that the Secretary determines has the capacity to participate in the Program; under the circumstances described in section 5703(d) of this title , a municipality of a State of the United States to which the Secretary has given a special permission under section 5703(d) of this title ; and a Tribal government, or a group of Tribal governments that jointly apply for an allocation. uses public resources to promote private access to credit; and meets the eligibility criteria in section 5704(c) of this title . uses public resources to promote private access to credit; is not a State capital access program; and meets the eligibility criteria in section 5705(c) of this title ; and includes, collateral support programs, loan participation programs, State-run venture capital fund programs, and credit guarantee programs. The term “State program” means a State capital access program or a State other credit support program. The term “Secretary” means the Secretary of the Treasury. if privately owned, 51 percent is owned by one or more socially and economically disadvantaged individuals; if publicly owned, 51 percent of the stock is owned by one or more socially and economically disadvantaged individuals; and in the case of a mutual institution, a majority of the Board of Directors, account holders, and the community which the institution services is predominantly comprised of socially and economically disadvantaged individuals. The term “community development financial institution” has the meaning given that term under section 4702 of this title . The term “minority depository institution” has the meaning given that term under section 308(b) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. The term “socially and economically disadvantaged individual” means an individual who is a socially disadvantaged individual or an economically disadvantaged individual, as such terms are defined, respectively, under section 637 of title 15 and the regulations thereunder. The term “Tribal government” means the recognized governing body of any Indian or Alaska Native tribe, band, nation, pueblo, village, community, component band, or component reservation, individually identified (including parenthetically) in the list published most recently as of March 11, 2021 , pursuant to section 5131 of title 25 . In addition to amounts otherwise available, there is hereby appropriated to the Secretary of the Treasury for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $10,000,000,000, to remain available until expended, to provide support to small businesses responding to and recovering from the economic effects of the COVID–19 pandemic, ensure business enterprises owned and controlled by socially and economically disadvantaged individuals have access to credit and investments, provide technical assistance to help small businesses applying for various support programs, and to pay reasonable costs of administering such Initiative. the Secretary of the Treasury shall complete all disbursements and remaining obligations before September 30, 2030 ; and any amounts that remain unexpended (whether obligated or unobligated) on September 30, 2030 , shall be rescinded and deposited into the general fund of the Treasury.”