Section 1 Short title
This Act may be cited as the “Main Street Parity Act”.
Main Street Parity Act
AN ACT
To amend the Small Business Investment Act of 1958 to modify the criteria for loans for plant acquisition, construction, conversion or expansion, and for other purposes.
Sec. 2 Modification to criteria for loans for plant acquisition, construction, conversion or expansion
In general— Section 502(3)(C) of the Small Business Investment Act of 1958 (15 U.S.C. 696(3)(C)) is amended—
by striking clauses (ii) and (iii);
in clause (i), by inserting “or” at the end; and
by redesignating clause (iv) as clause (ii).
Conforming amendment— Section 502(3)(B)(ii) of the Small Business Investment Act of 1958 (15 U.S.C. 696(3)(B)(ii)) is amended by striking “clauses (i), (ii), or (iii) of subparagraph (C)” and inserting “clause (i) of subparagraph (C)”.