(a) For the purposes of this section, the term:
(1) “Eligible recipient” means a business certified, or eligible to be certified, as a small business enterprise pursuant to § 2-218.32 or a disadvantaged business enterprise pursuant to § 2-218.33.
(2) “Fund” means the Small Business Capital Access Fund.
(b) There is established as a nonlapsing fund the Small Business Capital Access Fund, which shall be used for the following purposes:
(1) To grant the local funds necessary to obtain federal matching funds to establish a procurement technical assistance program in the Department;
(2) To make a one-time grant in an amount of $50,000 to provide operating support to a newly formed business association in Ward 3; and
(3) To provide financial assistance, including grants, loans, and loan guarantees, to eligible recipients.
(c)(1) All funds deposited into the Fund shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time, but shall be continually available for the uses and purposes set forth in subsection (b) of this section without regard to fiscal year limitation, subject to authorization by Congress.
(2) Any penalties assessed by the Department pursuant to § 2-218.48 and any civil penalties imposed pursuant to § 2-218.63(c) and any fees collected pursuant to § 2-218.49a(a-1) shall be collected by the Department and deposited into the Fund.
(d) Preference for financial assistance shall be given to:
(1) Eligible recipients that are certified as a small business enterprise pursuant to § 2-218.32, a disadvantaged business enterprise pursuant to § 2-218.33, a resident-owned business enterprise pursuant to § 2-218.35, or an equity impact enterprise as defined in § 2-218.02(8A); or
(2) Eligible recipients that serve, or whose principal office is located in:
(A) A DC Main Street corridor; or
(B) Repealed;
(C) Another area identified by the Mayor for economic development or commercial revitalization.
(e) Within 90 days of September 18, 2007, the Mayor shall issue rules to implement the provisions of this section. The Mayor shall submit the proposed rules to the Council for a 45-day period of review, excluding Saturdays, Sundays, legal holidays, and days of Council recess. If the Council does not approve or disapprove the proposed rules, in whole or in part, by resolution, within the 45-day review period, the proposed rules shall be deemed approved.
(Oct. 20, 2005, D.C. Law 16-33, § 2375; as added Sept. 18, 2007, D.C. Law 17-20, § 2062(e), 54 DCR 7052; July 18, 2008, D.C. Law 17-207, § 3, 55 DCR 6107; Aug. 16, 2008, D.C. Law 17-219, § 2022, 55 DCR 7598; Mar. 25, 2009, D.C. Law 17-353, § 216, 56 DCR 1117; Mar. 3, 2010, D.C. Law 18-111, § 2231, 57 DCR 181; Apr. 8, 2011, D.C. Law 18-357, § 2(b), 58 DCR 763; Feb. 26, 2015, D.C. Law 20-155, § 9017(b), 61 DCR 9990; Oct. 22, 2015, D.C. Law 21-36, § 2002, 62 DCR 10905; Dec. 3, 2020, D.C. Law 23-149, § 2042(f), 67 DCR 10493.)
Section ReferencesThis section is referenced in § 2-218.49a.
This section is referenced in § 2-218.62, § 2-218.63, and § 2- 218.65.
Effect of AmendmentsD.C. Law 17-207, in subsec. (c)(2), made an amendment that resulted in no change in text; redesignated the former second subsection designated as (c) as subsec. (d); and redesignated former subsec. (d) as subsec. (e).
D.C. Law 17-219 rewrote subsec. (b), which had read as follows: “(b) There is established as a nonlapsing fund the Small Business Micro Loan Fund, which shall be used solely to provide financial assistance, including loans and loan guarantees, to eligible recipients.”
D.C. Law 17-353 validated previously made technical corrections in subsecs. (c)(2), (d), and (e).
D.C. Law 18-111, in subsec. (a)(1), substituted “or disadvantaged” for “and disadvantaged”; and rewrote subsec. (b)(2), which had read as follows: “(2) To make a one-time grant in an amount of $120,000 to be divided equally among the D.C. Main Streets Programs that are in good standing and have letters of agreement with the Department of Small and Local Business Development that expire by September 30, 2008 for expenditures related to personnel, accounting, and auditor services; and to make a one-time grant in an amount of $10,000 to the Latino Economic Development Corporation for the printing of the Think Local First print directory that supports local businesses in the District; and”.
D.C. Law 18-357, in subsec. (b), substituted “used” for “used solely”; and, in subsec. (c)(2), substituted “and any fees collected pursuant to § 2-218.49a(a-1) shall be collected by the Department and deposited into the Fund” for “shall be collected by the Department and deposited into the Fund”.
The 2012 amendment by D.C. Law 19-171 validated a previously made technical correction.
The 2015 amendment by D.C. Law 20-155 added “or” at the end of (d)(2)(A); and repealed (d)(2)(B).
The 2015 amendment by D.C. Law 21-36 rewrote the section heading and (a); substituted “Small Business Capital Access Fund” for “Small Business Micro Loan Fund” in (b); and rewrote (d)(1).
Emergency LegislationFor temporary (90 days) amendment of this section, see § 2(d) of Small and Certified Business Enterprise Development and Assistance Emergency Amendment Act of 2019 (D.C. Act 23-22, Mar. 27, 2019, 66 DCR 3991).
For temporary (90 day) addition, see § 2062(e) of Fiscal Year 2008 Budget Support Emergency Act of 2007 (D.C. Act 17-74, July 25, 2007, 54 DCR 7549).
For temporary (90 day) amendment of section, see § 3 of Department of Small and Local Business Development Subcontracting Clarification, Benefit Expansion, and Grant-making Authority Emergency Amendment Act of 2007 (D.C. Act 17-156, October 18, 2007, 54 DCR 10919).
For temporary (90 day) amendment of section, see § 3 of Department of Small and Local Business Development Subcontracting Clarification, Benefit Expansion, and Grant-making Authority Congressional Review Emergency Amendment Act of 2008 (D.C. Act 17-251, January 23, 2008, 55 DCR 1259).
For temporary (90 day) amendment of section, see § 2 of Small Business Micro Loan Fund Emergency Amendment Act of 2009 (D.C. Act 18-106, June 18, 2009, 56 DCR 4927).
For temporary (90 day) amendment of section, see § 2231 of Fiscal Year 2010 Budget Support Second Emergency Act of 2009 (D.C. Act 18-207, October 15, 2009, 56 DCR 8234).
For temporary (90 day) amendment of section, see § 2231 of Fiscal Year Budget Support Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-260, January 4, 2010, 57 DCR 345).
For temporary (90 day) addition of section, see § 2242 of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542).
For temporary (90 day) amendment of section, see § 2(b) of Alternative Equity Payment Allocation Emergency Amendment Act of 2010 (D.C. Act 18-589, October 20, 2010, 57 DCR 10143).
For temporary (90 day) amendment of section, see § 2(b) of Alternative Equity Payment Allocation Congressional Review Emergency Amendment Act of 2011 (D.C. Act 19-1, February 2, 2011, 58 DCR 1236).
For temporary (90 days) amendment of this section, see §§ 9017(b) and 9029 of the Fiscal Year 2015 Budget Support Emergency Act of 2014 (D.C. Act 20-377, July 14, 2014, 61 DCR 7598, 20 STAT 3696).
For temporary (90 days) amendment of this section, see §§ 9017(b) and 9029 of the Fiscal Year 2015 Budget Support Congressional Review Emergency Act of 2014 (D.C. Act 20-449, October 10, 2014, 61 DCR 10915, 20 STAT 4188).
For temporary (90 days) amendment of this section, see § 9017(b) of the Fiscal Year 2015 Budget Support Second Congressional Review Emergency Act of 2014 (D.C. Act 20-566, January 9, 2015, 62 DCR 884, 21 STAT 541).
For temporary (90 days) amendment of this section, see § 2002 of the Fiscal Year 2016 Budget Support Emergency Act of 2015 (D.C. Act 21-127, July 27, 2015, 62 DCR 10201).
Temporary LegislationFor temporary (225 days) amendment of this section, see § 2(d)(3) of Small and Certified Business Enterprise Development and Assistance Temporary Amendment Act of 2019 (D.C. Law 23-7, June 4, 2019, 66 DCR 5250).
For temporary (225 day) amendment of section, see § 3 of the Department of Small and Local Business Development Subcontracting Clarification, Benefit Expansion, and Grant-making Authority Temporary Amendment Act of 2007 (D.C. Law 17-96, January 29, 2008, law notification 55 DCR 3403).
Short TitleShort title: Section 2021 of D.C. Law 17-219 provided that subtitle I of title II of the act may be cited as the “Small Business Micro Loan Fund Amendment Act of 2008”.
Short title: Section 2230 of D.C. Law 18-111 provided that subtitle X of title II of the act may be cited as the “Small Business Micro Fund Amendment Act of 2009”.
Editor's NotesSection 9029 of D.C. Law 20-155 provided that the amendment by § 9017(b) of the act shall apply as of September 30, 2014.