§2009cc–10 Reporting Requirements

Summary

Each rural business investment company in the program must give the Secretary any information asked for. That includes the performance measures the company promised in its application. If the company invests in or lends to a business that is not in a rural area, it must report how many and what percentage of that business’s employees live in rural areas. The Secretary must publish one public annual report about the program for the previous fiscal year. The report must show items like how many companies were licensed, the total federal support they received, the types and counts of federal financing used and how those compare to past years, licenses given up or companies liquidated with the federal support involved, losses the government suffered and estimated losses for the current fiscal year, steps taken to get back funds and enforce rules, how much support each licensee got and what instruments they used, the sizes and locations of companies using each instrument and how much went to rural loans or equity, and actions the Secretary took to run the program. The report may not identify any specific investment by a single company or release information that the law keeps private.