The U.S. Small Business Administration ("SBA") is adding a new Part 108 to implement the New Markets Venture Capital Program Act of 2000 ("the Act"). The Act authorizes SBA to issue regulations necessary to implement the program. The regulations set forth the requirements for: Newly-formed venture capital companies to qualify to become New Markets Venture Capital ("NMVC") companies to make developmental venture capital investments in smaller enterprises located in low- income geographic areas and provide operational assistance to such enterprises receiving such investments; and Existing Specialized Small Business Investment Companies ("SSBICs") to qualify for grants to provide operational assistance to smaller enterprises located in low-income geographic areas and which such SSBICs have financed or expect to finance. SBA will begin accepting applications for this program immediately. See Notice of Funds Availability published in today's Federal Register.