PUBLIC LAW 98-270—APR. 18, 1984

98 STAT. 161

exceed $100,000, nor shall the proceeds thereof be used to reduce
the exposure of any other lender. The Administration may
permit deferral of payment of principal and interest for one
year on loans made hereunder.".

SEC. 305. Section 20(a) of the Small Business Act is amended by is use 631 note.
striking from paragraph (5) "section 7(bX3)" and inserting in lieu
thereof "sections 7(bX3) and 7(bX4)".

SEC. 306. Paragraph (1) of section 4(c) of the Small Business Act is 15 use 633.
further amendedby inserting "7(bX4)," after "7(bX3),".

SEC. 307. The amendments made by sections 304 and 305 of this 15 use 636 note,
title shall apply to economic dislocations certified by any State
Governor to the Small Business Administration after the date of
enactment of this Act providing such dislocation commenced since
January 1,1982.

SEC. 308. Section 7(bX3) of the Small Business Act is amended as 15 use 636.
follows:

(1) by inserting "continuation of," after "in effecting"; and

(2) by inserting the following at the end of such paragraph:
"For the purposes of this paragraph, the impact of the 1983
Payment-in-Kind Land Diversion program, or any successor
Payment-in-Kind program with a similar impact on the small
business community, shall be deemed to be a consequence of
Federal Government action; and".

SEC. 309. Section 7(cX6) of the Small Business Act is further
amended by adding the following at the end of the second proviso:
"Employees of concerns sharing a common business premises shall
be aggregated in determining ^nsjor source of employment' status
for nonprofit applicants owning such premises.".

SEC. 310. Section 3 of the Small Business Act is amended by
adding the following new subsection at the end thereof:

"(j) For the purposes of section 7(bX2) of this Act, the term 'small
agricultural cooperative' means an association (corporate or other-
wise) acting pursuant to the provisions of the Agricultural Market-
ing Act (12 U.S.C. 11411), whose size does not exceed the size
standard established by the Administration for other similar agri-
cultural small business concerns. In determining such size, the
Administration shall regard the association as an entity and shall
not include the income or employees of any member shareholder of
such cooperative: Provided, That such an association shall not be
deemed to be a small agricultural cooperative unless each member
of the board of directors of the association, or each member of the
governing body of the association if it is not incorporated, also
individually qualifies as a small business concern.".

SEC. 311. Section 7(bX2) of the Small Business Act is amended as 15 use 636.
follows:

(1) by striking "small business concern" and inserting in
lieu thereof "small business concern or small agricultural
cooperative";

(2) by striking "small business concerns" and inserting in lieu
thereof "small business concerns or small agricultural coopera-
tives"; and

(3) by striking "the concern" and inserting in lieu thereof
"the concern or the cooperative".

SEC. 312. The amendments made by sections 310 and 311 of this 15 use 632 note.
title shall apply to loans granted on the basis of any disaster with
respect to which a declaration has been issued after September 1,
1982, under section 7(b)(2) (A), (B), or (C) of the Small Business Act or 15 USC 636.

Employment
and unemploy-
ment.
Ante, p. 159.

Agricultural
cooperative.
15 USC 632.
15 USC 636.