A bill to consolidate and modify the terms of SBA programs under sections 7(a), 7(e), 7(h), 7(i) and 7(1) of the Small Business Act and sections 501 and 502 of the Small Business Investment Act of 1958, to exempt SBA loans from the environmental impact requirements of the National Environmental Policy Act of 1969, and to limit the annual amount of SBA loans, guarantees and other obligations or commitments to the extent or amounts provided in appropriations acts.

(Measure passed Senate, amended)

Amends the Small Business Act regarding regular Small Business Administration (SBA) loans to: (1) increase the maximum amount from $500,000 to $750,000; (2) authorize the SBA to add up to one percent to the cost of the interest rate (presently the SBA is required to add one-quarter of one percent); (3) increase the maximum maturity from ten to 20 years, and the maximum maturity from 20 to 25 years for real estate and construction loans; (4) prohibit the SBA from imposing a guarantee fee; and (5) provide that with the joint election of the borrower, SBA, and lender, interest (without principal) may be paid during (a) the first two years of the loan, if its maturity is at least eight years; (b) the first three years of the loan, if its maturity is at least ten years; and (c) the first four years of the loan, if its maturity is at least 15 years. Authorizes a one-time fee of one percent (of the total loan) to be charged by the bank for such loans.

Authorizes the extension or refinancing of SBA guaranteed loans if: (1) the lender, the borrower, and the SBA agree; (2) such extension does not exceed the maximum term allowed for SBA loans; and (3) such extensions or refinancing shall be repaid in equal installments of principal and interest. Provides for an additional one-time fee of one percent to be charged by the bank if the extension or refinancing exceeds ten years.

Prohibits the SBA from refusing to make a guaranteed loan to refinance a small business' existing indebtedness unless: (1) the holder of such indebtedness is likely to sustain a loss if refinancing is not provided; (2) it will be in a position to sustain part or all of the loss that would otherwise have been sustained by the holder of the indebtedness; and (3) such refinancing will not benefit the small business concerned. Stipulates that: (1) the SBA's refinancing guarantee shall be limited to 80 percent of the loan; and (2) the SBA may not delegate any of its authority regarding such extensions and refinancings.

Directs the SBA to report to the Senate Select Committee on Small Business and the House Committee on Small Business by February 28, 1982, and February 28, 1983, respecting such new loan provisions.

Makes it a Federal offense to kill an SBA employee engaged in official duties.

Increases for fiscal year 1981: (1) from $115,000,000 to $300,000,000 the available amounts in guaranteed loans and debentures for the development company programs; and (2) from $110,000,000 to $250,000,000 the available amounts for the pollution control bond program.