§2009cc–10 Reporting requirements

Summary

Each rural business investment company (RBIC) in the program must give the Secretary any information the Secretary asks for. That includes the performance measures the RBIC promised in its application and, if the RBIC invests in a business that is not in a rural area, a report showing how many and what percent of that business’s employees live in rural areas. The Secretary must publish a yearly public report about the program. The report must include details such as how many RBICs were licensed last year; the total federal leverage provided; the counts and trends for the types of leverage used; licenses given up and companies put into liquidation with the federal amounts and instrument types; federal losses last year and an estimate for the current year; steps taken to recover federal funds and ensure compliance; how much federal leverage each licensee received and what instruments they used; the sizes, locations, and other traits of companies using each financing tool and how much of that leverage was used for rural loans or investments; and the actions the Secretary took to run the program. The Secretary cannot include information that would identify a specific company’s individual investments or information barred from release under 18 U.S.C. 1905.