[Federal Register Volume 79, Number 124 (Friday, June 27, 2014)] [Notices] [Page 36583] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 2014-15063] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY State Small Business Credit Initiative; Notice of Availability of Revised Policy Guidelines and National Standards AGENCY: State Small Business Credit Initiative (SSBCI), Department of the Treasury. ACTION: Notice of document availability. ----------------------------------------------------------------------- SUMMARY: This Notice announces a technical correction in the recently updated SSBCI National Standards for Compliance and Oversight. DATES: Effective Date: June 27, 2014. ADDRESSES: Copies of the document are available at the SSBCI Web site at www.treasury.gov/ssbci. FOR FURTHER INFORMATION CONTACT: Requests for additional information should be directed to Deputy Director, SSBCI, Department of the Treasury, 655 15th Street NW., Washington, DC 20220. SUPPLEMENTARY INFORMATION: SSBCI was created under the Small Business Jobs Act of 2010 (Pub. L. 111-240) (the ``Act'') to help establish and strengthen state programs that support lending to small businesses. Treasury published the SSBCI National Standards for Compliance and Oversight (``National Standards''), which are applicable to all Participating States as they implement their SSBCI programs. Treasury updated the National Standards in May 2014, but has since determined there is a need for further clarification regarding conflicts of interest in Venture Capital Programs. Treasury is revising the last sentence of paragraph I.C. ``Rule Applicable to Independent Non-Profit and For-Profit Entities that Invest SSBCI Funds for Follow-On and Crossover Investments'' in order to clarify when an investment of SSBCI funds is allowed. This is not a policy change, but a clarification to make the policy easily understood. The change inserts the word ``prior'' to the last sentence of the paragraph, to specify that the funds in question must have been from a prior investment. The line would now read ``an investment of SSBCI funds in a company or venture capital fund in which the entity holds any type of financial interest resulting from a prior investment made with non- SSBCI funds'' as the bolded, underlined words are added. The revisions to the National Standards are available on Treasury's Web site at www.treasury.gov/ssbci. Dated: June 19, 2014. Clifton G. Kellogg, Director, State Small Business Credit Initiative. [FR Doc. 2014-15063 Filed 6-26-14; 8:45 am] BILLING CODE 4810-25-P