[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 1499 Referred in House (RFH)]
2d Session
S. 1499
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
April 9, 2002
Referred to the Committee on Small Business
_______________________________________________________________________
AN ACT
To provide assistance to small business concerns adversely impacted by
the terrorist attacks perpetrated against the United States on
September 11, 2001, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``American Small Business Emergency
Relief and Recovery Act''.
SEC. 2. FINDINGS AND PURPOSE.
(a) Findings.--Congress finds that--
(1) the Nation's 25,000,000 small businesses employ more
than 58 percent of the private workforce, and create 75 percent
of all net new jobs;
(2) as a result of the terrorist attacks perpetrated
against the United States on September 11, 2001, many small
businesses nationwide suffered--
(A) directly because--
(i) they are, or were as of September 11,
2001, located in or near the World Trade Center
or the Pentagon, or in a disaster area declared
by the President or the Administrator of the
Small Business Administration;
(ii) they were closed or their business was
suspended for National security purposes at the
mandate of the Federal Government; or
(iii) they are, or were as of September 11,
2001, located in an airport that has been
closed; and
(B) indirectly because--
(i) they supplied or provided services to
businesses that were located in or near the
World Trade Center or the Pentagon;
(ii) they are, or were as of September 11,
2001, a supplier, service provider, or
complementary industry to any business or
industry adversely affected by the terrorist
attacks perpetrated against the United States
on September 11, 2001, in particular, the
financial, hospitality, and travel industries;
or
(iii) they are, or were as of September 11,
2001, integral to or dependent upon a business
or business sector closed or suspended for
national security purposes by mandate of the
Federal Government; and
(3) small business owners adversely affected by the
terrorist attacks are finding it difficult or impossible--
(A) to make loan payments on existing debts;
(B) to pay their employees;
(C) to pay their vendors;
(D) to purchase materials, supplies, or inventory;
(E) to pay their rent, mortgage, or other operating
expenses; or
(F) to secure financing for their businesses.
(b) Purpose.--The purpose of this Act is to strengthen the loan,
investment, procurement assistance, and management education programs
of the Small Business Administration, in order to help small businesses
meet their existing obligations, finance their businesses, and maintain
and create jobs, thereby providing stability to the national economy.
SEC. 3. DEFINITIONS RELATING TO TERRORIST ATTACKS.
Section 3 of the Small Business Act (15 U.S.C. 632) is amended by
adding at the end the following:
``(r) Definitions Relating to Terrorism Relief.--In this Act, the
following definitions shall apply with respect to the provision of
assistance under this Act in response to the terrorist attacks
perpetrated against the United States on September 11, 2001, pursuant
to the American Small Business Emergency Relief and Recovery Act:
``(1) Directly affected.--A small business concern is
directly affected by the terrorist attacks perpetrated against
the United States on September 11, 2001, if it--
``(A) is, or was as of September 11, 2001, located
in or near the World Trade Center or the Pentagon, or
in a disaster area declared by the President or the
Administrator related to those terrorist attacks;
``(B) was closed or its business was suspended for
national security purposes at the mandate of the
Federal Government; or
``(C) is, or was as of September 11, 2001, located
in an airport that has been closed.
``(2) Indirectly affected.--A small business concern is
indirectly affected by the terrorist attacks perpetrated
against the United States on September 11, 2001, if it--
``(A) supplied or provided services to any business
that was located in or near the World Trade Center or
the Pentagon, or in a disaster area declared by the
President or the Administrator related to those
terrorist attacks;
``(B) is, or was as of September 11, 2001, a
supplier, service provider, or complementary industry
to any business or industry adversely affected by the
terrorist acts perpetrated against the United States on
September 11, 2001, in particular, the financial,
hospitality, and travel industries; or
``(C) it is, or was as of September 11, 2001,
integral to or dependent upon a business or business
sector closed or suspended for national security
purposes by mandate of the Federal Government.
``(3) Adversely affected.--The term `adversely affected'
means having suffered economic harm to or disruption of the
business operations of a small business concern as a direct or
indirect result of the terrorist attacks perpetrated against
the United States on September 11, 2001.
``(4) Substantial economic injury.--As used in section
7(b)(4), the term `substantial economic injury' means an
economic harm to a small business concern that results in the
inability of the small business concern--
``(A) to meet its obligations on an ongoing basis;
``(B) to pay its ordinary and necessary operating
expenses; or
``(C) to market, produce, or provide a product or
service ordinarily marketed, produced, or provided by
the small business concern.''.
SEC. 4. DISASTER LOANS AFTER TERRORIST ATTACKS.
(a) In General.--Section 7(b) of the Small Business Act (15 U.S.C.
636(b)) is amended by inserting immediately before the undesignated
material following paragraph (3) the following:
``(4) Disaster loans after terrorist attacks of september
11, 2001.--
``(A) Loan authority.--In addition to any other
loan authorized by this section, the Administration may
make such loans (either directly or in cooperation with
banks or other lending institutions through agreements
to participate on an immediate or deferred basis) to a
small business concern that has been directly affected
and suffered substantial economic injury as the result
of the terrorist attacks on September 11, 2001,
including due to the closure or suspension of its
business for national security purposes at the mandate
of the Federal Government.
``(B) Refinancing disaster loans.--
``(i) In general.--Any loan made under this
subsection that was outstanding as to principal
or interest on September 11, 2001, may be
refinanced by a small business concern that is
also eligible to receive a loan under this
paragraph, and the refinanced amount shall be
considered to be part of the new loan for
purposes of this clause.
``(ii) No effect on eligibility.--A
refinancing under clause (i) by a small
business concern shall be in addition to any
other loan eligibility for that small business
concern under this Act.
``(C) Refinancing business debt.--
``(i) In general.--Any business debt of a
small business concern that was outstanding as
to principal or interest on September 11, 2001,
may be refinanced by the small business concern
if it is also eligible to receive a loan under
this paragraph. With respect to a refinancing
under this clause, payments of principal shall
be deferred, and interest may accrue
notwithstanding clause (iii) of section 202 of
the Department of Defense and Emergency
Supplemental Appropriations for Recovery from
and Response to Terrorist Attacks on the United
States Act, 2002 (Public Law 107-117, 115 Stat.
2297), during the 1-year period following the
date of refinancing.
``(ii) Resumption of payments.--At the end
of the 1-year period described in clause (i),
the payment of periodic installments of
principal and interest shall be required with
respect to such loan, in the same manner and
subject to the same terms and conditions as
would otherwise be applicable to any other loan
made under this subsection.
``(iii) Authorization cap.--Notwithstanding
any other provision of law, the total amount
authorized to be obligated by the
Administration, under this subparagraph only,
for purposes of refinancing business debt, may
not exceed $225,000,000, notwithstanding any
amount otherwise obligated by the
Administration under this paragraph.
``(D) Terms.--A loan under this paragraph shall be
made at the same interest rate as economic injury loans
under paragraph (2). Any reasonable doubt concerning
the repayment ability of an applicant under this
paragraph shall be resolved in favor of the applicant.
``(E) No disaster declaration required.--For
purposes of assistance under this paragraph, no
declaration of a disaster area is required for those
small business concerns directly affected by the
terrorist attacks on September 11, 2001.
``(F) Size standard adjustments.--Notwithstanding
any other provision of law, for purposes of providing
assistance under this paragraph to businesses located
in areas of New York, Virginia, and the contiguous
areas designated by the President or the Administrator
as a disaster area following the terrorist attacks on
September 11, 2001, a business shall be considered to
be a `small business concern' if it meets otherwise
applicable size regulations promulgated by the
Administration, and, with respect to the applicable
size standard, it is--
``(i) a restaurant having not more than
$8,000,000 in annual receipts;
``(ii) a law firm having not more than
$8,000,000 in annual receipts;
``(iii) a certified public accounting
business having not more than $8,000,000 in
annual receipts;
``(iv) a performing arts business having
not more than $8,000,000 in annual receipts;
``(v) a warehousing or storage business
having not more than $25,000,000 in annual
receipts;
``(vi) a contracting business having a size
standard under the North American Industry
Classification System, Subsector 235, and
having not more than $15,000,000 in annual
receipts;
``(vii) a food manufacturing business
having not more than 1,000 employees;
``(viii) an apparel manufacturing business
having not more than 1,000 employees; or
``(ix) a travel agency having not more than
$3,000,000 in annual receipts.
``(5) Authority to increase or waive size standards and
size regulations.--
``(A) In general.--At the discretion of the
Administrator, the Administrator may increase or waive
otherwise applicable size standards or size regulations
with respect to businesses applying for assistance
under this Act in response to the terrorist attacks on
September 11, 2001.
``(B) Exemption from administrative procedures.--
The provisions of subchapter II of chapter 5, of title
5, United States Code, shall not apply to any increase
or waiver by the Administrator under subparagraph (A).
``(6) Increased loan caps.--
``(A) Aggregate loan amounts.--Except as provided
in subparagraph (B), and in addition to amounts
otherwise authorized by this Act, the loan amount
outstanding and committed to a borrower may not
exceed--
``(i) with respect to a small business
concern located in the areas of New York,
Virginia, or the contiguous areas designated by
the President or the Administrator as a
disaster area following the terrorist attacks
on September 11, 2001--
``(I) $10,000,000 in total
obligations under paragraph (1); and
``(II) $10,000,000 in total
obligations under paragraph (4); and
``(ii) with respect to a small business
concern that is not located in an area
described in clause (i) and that is eligible
for assistance under paragraph (4), $5,000,000
in total obligations under paragraph (4).
``(B) Waiver authority.--The Administrator may, at
the discretion of the Administrator, waive the
aggregate loan amounts established under subparagraph
(A).
``(7) Extended application period.--Notwithstanding any
other provision of law, the Administrator shall accept
applications for assistance under paragraphs (1) and (4) until
September 10, 2002, with respect to applicants for such
assistance as a result of the terrorist attacks on September
11, 2001.
``(8) Limitation on sales of loans.--No loan under
paragraph (1) or (4), made as a result of the terrorist attacks
on September 11, 2001, shall be sold until 3 years after the
date of the final loan disbursement.''.
(b) Clerical Amendments.--Section 7(b) of the Small Business Act
(15 U.S.C. 636(b)) is amended in the undesignated matter at the end--
(1) by striking ``, (2), and (4)'' and inserting ``and
(2)''; and
(2) by striking ``, (2), or (4)'' and inserting ``(2)''.
SEC. 5. EMERGENCY RELIEF LOAN PROGRAM.
(a) Loan Program.--Section 7(a) of the Small Business Act (15
U.S.C. 636(a)) is amended by adding at the end the following:
``(31) Temporary loan authority following terrorist
attacks.--
``(A) In general.--During the 9-month period
beginning on the date of enactment of this paragraph,
the Administration may make loans under this subsection
to a small business concern that has been directly or
indirectly adversely affected.
``(B) Loan terms.--With respect to a loan under
this paragraph--
``(i) for purposes of paragraph (2)(A),
participation by the Administration shall be
equal to 85 percent of the balance of the
financing outstanding at the time of
disbursement of the loan;
``(ii) section 203 of the Department of
Defense and Emergency Supplemental
Appropriations for Recovery from and Response
to Terrorist Attacks on the United States Act,
2002 (Public Law 107-117, 115 Stat. 2297), as
it relates to annual fees, shall apply;
``(iii) the Administrator shall collect a
guarantee fee in accordance with paragraph
(18)(C), as amended by the American Small
Business Emergency Relief and Recovery Act;
``(iv) the applicable rate of interest
shall not exceed a rate that is 2 percentage
points above the prime lending rate;
``(v) no such loan shall be made if the
total amount outstanding and committed (by
participation or otherwise) to the borrower
under this paragraph--
``(I) would exceed $1,000,000; or
``(II) at the discretion of the
Administrator, and upon notice to the
Congress, would exceed $2,000,000, as
necessary to provide relief in high-
cost areas or to high-cost industries
that have been adversely affected; or
``(vi) no such loan shall be made if the
gross amount of the loan would exceed
$3,000,000;
``(vii) upon request of the borrower,
repayment of principal due on a loan made under
this paragraph may be deferred during the 1-
year period beginning on the date of issuance
of the loan; and
``(viii) any reasonable doubt concerning
the repayment ability of an applicant for a
loan under this paragraph shall be resolved in
favor of the applicant.
``(C) Applicability.--The loan terms described in
subparagraph (B) shall apply to a loan under this
paragraph notwithstanding any other provision of this
subsection, and except as specifically provided in this
paragraph, a loan under this paragraph shall otherwise
be subject to the same terms and conditions as any
other loan under this subsection.
``(D) Travel agencies.--For purposes of loans made
under this paragraph, the size standard for a travel
agency shall be $3,000,000 in annual receipts.''.
(b) Conforming Amendment.--Section 7(a)(23)(A) of the Small
Business Act (15 U.S.C. 636(a)(23)(A)) is amended by inserting ``other
than a loan under paragraph (31),'' after ``this subsection,''.
SEC. 6. REDUCTION OF FEES.
(a) Temporary Reduction of Section 7(a) Fees.--
(1) Guarantee fees.--Section 7(a)(18) of the Small Business
Act (15 U.S.C. 636(a)(18)) is amended by adding at the end the
following:
``(C) Temporary reduction in fees.--With respect to
loans approved during the period beginning on the date
of enactment of the American Small Business Emergency
Relief and Recovery Act and ending on September 30,
2004, the guarantee fee under subparagraph (A) shall be
as follows:
``(i) A guarantee fee equal to 1 percent of
the deferred participation share of a total
loan amount that is not more than $150,000.
``(ii) A guarantee fee equal to 2.5 percent
of the deferred participation share of a total
loan amount that is more than $150,000, but not
more than $700,000.
``(iii) A guarantee fee equal to 3.5
percent of the deferred participation share of
a total loan amount that is more than
$700,000.''.
(2) Annual fees.--Section 7(a)(23)(A) of the Small Business
Act (15 U.S.C. 636(a)(23)(A)) is amended by adding at the end
the following: ``With respect to loans approved during the
period beginning on the date of enactment of the American Small
Business Emergency Relief and Recovery Act and ending on
September 30, 2004, other than a loan under paragraph (31), the
annual fee assessed and collected under the preceding sentence
shall be in an amount equal to 0.25 percent of the outstanding
balance of the deferred participation share of the loan.''.
(b) Reduction of Section 504 Fees.--Section 503 of the Small
Business Investment Act of 1958 (15 U.S.C. 697) is amended--
(1) in subsection (b)(7)(A)--
(A) by redesignating clauses (i) and (ii) as
subclauses (I) and (II), respectively, and moving the
margins 2 ems to the right;
(B) by striking ``not exceed the lesser'' and
inserting ``not exceed--
``(i) the lesser''; and
(C) by adding at the end the following:
``(ii) 50 percent of the amount established
under clause (i) in the case of a loan made
during the period beginning on the date of
enactment of the American Small Business
Emergency Relief and Recovery Act and ending on
September 30, 2004, for the life of the loan;
and''; and
(2) by adding at the end the following new subsection:
``(i) Temporary Waiver of Fees.--The Administration may not assess
or collect any up front guarantee fee with respect to loans made under
this title during the period beginning on the date of enactment of the
American Small Business Emergency Relief and Recovery Act and ending on
September 30, 2004.''.
(c) Budgetary Treatment of Loans and Financings.--Assistance made
available under any loan made or approved by the Small Business
Administration under section 7(a) of the Small Business Act (15 U.S.C.
636(a)) or financings made under title V of the Small Business
Investment Act of 1958 (15 U.S.C. 695 et seq.), during the period
beginning on the date of enactment of the American Small Business
Emergency Relief and Recovery Act and ending on September 30, 2004,
shall be treated as separate programs of the Small Business
Administration for purposes of the Federal Credit Reform Act of 1990
only.
(d) Use of Funds.--The amendments made by this section to section
503 of the Small Business Investment Act of 1958, shall be effective
only to the extent that funds are made available under appropriations
Acts, which funds shall be utilized by the Administrator to offset the
cost (as such term is defined in section 502 of the Federal Credit
Reform Act of 1990) of such amendments.
(e) Conforming Repeal.--Effective on the day before the date of
enactment of this Act, section 6 of the Small Business Investment
Company Amendments Act of 2001 (Public Law 107-100, 115 Stat. 970), and
the amendments made by that section, are repealed.
SEC. 7. OTHER SPECIALIZED ASSISTANCE AND MONITORING AUTHORIZED.
(a) Additional SBDC Authority.--
(1) In general.--Section 21(c)(3) of the Small Business Act
(15 U.S.C. 648(c)(3)) is amended--
(A) in subparagraph (S), by striking ``and'' at the
end;
(B) in subparagraph (T), by striking the period at
the end and inserting ``; and''; and
(C) by adding at the end the following:
``(U) providing individualized assistance with respect to
financing, refinancing of existing debt, and business
counseling to small business concerns adversely affected,
directly or indirectly, by the terrorist attacks on September
11, 2001.''.
(2) Waiver of matching requirements.--Section 21(a)(4)(A)
of the Small Business Act (15 U.S.C. 648(a)(4)(A)) is amended
by inserting before the period at the end the following: ``,
except that the matching requirements of this paragraph do not
apply with respect to any assistance provided under subsection
(c)(3)(U)''.
(b) Additional SCORE Authority.--Section 8(b)(1)(B) of the Small
Business Act (15 U.S.C. 637(b)(1)(B) is amended--
(1) by inserting ``(i)'' after ``(B)''; and
(2) by adding at the end the following:
``(ii) The functions of the Service Corps of Retired
Executives (SCORE) shall include the provision of
individualized assistance with respect to financing,
refinancing of existing debt, and business counseling to small
business concerns adversely affected by the terrorist attacks
on September 11, 2001.''.
(c) Additional Microloan Program Authority.--Section 7(m) of the
Small Business Act (15 U.S.C. 636(m)) is amended by adding at the end
the following:
``(14) Assistance after terrorist attacks of september 11,
2001.--Amounts made available under this subsection may be used
by intermediaries to provide individualized assistance with
respect to financing, refinancing of existing debt, and
business counseling to small business concerns adversely
affected by the terrorist attacks on September 11, 2001.''.
(d) Additional Women's Business Development Center Authority.--
Section 29 of the Small Business Act (15 U.S.C. 656) is amended--
(1) in subsection (b)--
(A) in paragraph (2), by striking ``and'' at the
end;
(B) in paragraph (3), by striking the period at the
end and inserting ``; and''; and
(C) by adding at the end the following:
``(4) individualized assistance with respect to financing,
refinancing of existing debt, and business counseling to small
business concerns that were adversely affected by the terrorist
attacks on September 11, 2001.''; and
(2) in subsection (c), by adding at the end the following:
``(5) Waiver of matching requirements.--A recipient
organization shall not be subject to the non-Federal funding
requirements of paragraph (1) with respect to assistance
provided under subsection (b)(4).''.
(e) Additional SBIC Authority.--Section 303 of the Small Business
Investment Act of 1958 (15 U.S.C. 683) is amended by adding at the end
the following:
``(k) Authority After Terrorist Attacks of September 11, 2001.--
Small business investment companies are authorized and encouraged to
provide equity capital and to make loans to small business concerns
pursuant to sections 304(a) and 305(a) of the Small Business Investment
Act of 1958, respectively, for the purpose of providing assistance to
small business concerns adversely affected by the terrorist attacks on
September 11, 2001.''.
SEC. 8. STUDY AND REPORT ON EFFECTS ON SMALL BUSINESS CONCERNS.
(a) Study.--
(1) In general.--The Office of Advocacy of the Small
Business Administration shall conduct annual studies for a 5-
year period on the impact of the terrorist attacks perpetrated
against the United States on September 11, 2001, on small
business concerns, and the effects of assistance provided under
this Act on such small business concerns.
(2) Contents.--The study conducted under paragraph (1)
shall include information regarding--
(A) bankruptcies and business failures that
occurred as a result of the events of September 11,
2001, as compared to those that occurred in 1999 and
2000;
(B) the loss of jobs, revenue, and profits in small
business concerns as a result of those events, as
compared to those that occurred in 1999 and 2000;
(C) the impact of assistance provided under this
Act to small business concerns adversely affected by
those attacks, including information regarding
whether--
(i) small business concerns that received
such assistance would have remained in business
without such assistance;
(ii) jobs were saved due to such
assistance; and
(iii) small business concerns that remained
in business had increases in employment and
sales since receiving assistance.
(b) Report.--The Office of Advocacy shall submit a report to
Congress on the studies required by subsection (a)(1), specifically
addressing the requirements of subsection (a)(2), in September of each
of fiscal years 2002 through 2006.
(c) Authorization of Appropriations.--There is authorized to be
appropriated to carry out this section, $500,000 for each of fiscal
years 2002 through 2006.
SEC. 9. EMERGENCY EQUITABLE RELIEF FOR FEDERAL CONTRACTORS.
(a) Guidance Required.--
(1) In general.--Under guidance issued by the Administrator
for Federal Procurement Policy in conjunction with the
Administrator of the Small Business Administration, the head of
a contracting agency of the United States may increase the
price of a prime contract entered into by the agency prior to
September 11, 2001 with a small business concern (as defined in
section 3 of the Small Business Act) to the extent determined
equitable under this section on the basis of loss resulting
from security measures taken by the Federal Government at
Federal facilities as a result of the terrorist attacks on
September 11, 2001.
(2) Expedited issuance.--Guidance required by paragraph (1)
shall be issued under expedited procedures, not later than 45
days after the date of enactment of this Act.
(b) Expedited Procedures.--
(1) In general.-- The Administrator for Federal Procurement
Policy shall prescribe expedited procedures for considering
whether to grant an equitable adjustment in the case of a
contract of an agency under subsection (a).
(2) Requirements.--The procedures required by paragraph (1)
shall provide for--
(A) an initial review of the merits of a
contractor's request by the contracting officer
concerned with the contract;
(B) a final determination of the merits of the
contractor's request, including the value of any price
adjustment, by the Head of the Contracting Agency, in
consultation with the Administrator of the Small
Business Administration, taking into consideration the
initial review under subparagraph (A); and
(C) payment from the fund established under
subsection (d) for the contract's price adjustment.
(3) Timing.--The procedures required by paragraph (1) shall
require completion of action on a contractor's request for
adjustment not later than 30 days after the date on which the
contractor submits the request to the contracting officer
concerned.
(c) Authorized Remedies.--In addition to making a price adjustment
under subsection (a), the time for performance of a contract may be
extended under this section.
(d) Payment of Adjusted Price.--
(1) Fund established.--The Secretary of the Treasury shall
establish a fund for the payment of contract price adjustments
under this section. Payments of amounts for price adjustments
shall be made out of the fund.
(2) Availability.--Notwithstanding any other provision of
law, amounts in the fund under this subsection shall remain
available until expended.
(e) Termination of Authority.--
(1) Requests.--No request for adjustment under this section
may be accepted more than 330 days after the date of enactment
of this Act.
(2) Termination.--The authority under this section shall
terminate 1 year after the date of enactment of this Act.
(f) Authorization of Appropriations.--There is authorized to be
appropriated to the Secretary of the Treasury, for deposit into the
fund established under subsection (d), $50,000,000 to carry out this
section, including funds for administrative expenses and costs. Any
funds remaining in the fund established under subsection (d) 1 year
after the date of enactment of this Act shall be transferred to the
disaster loan account of the Small Business Administration.
SEC. 10. REPORTS TO CONGRESS.
(a) Reports Required.--The Administrator of the Small Business
Administration shall submit regular reports to the Committee on Small
Business and Entrepreneurship of the Senate and the Committee on Small
Business of the House of Representatives regarding the implementation
of this Act and the amendments made by this Act, including program
delivery, staffing, and administrative expenses related to such
implementation.
(b) Frequency of Reports.--The reports required by subsection (a)
shall be submitted 20 days after the date of enactment of this Act and
monthly thereafter until 1 year after the date of enactment of this
Act, at which time the reports shall be submitted on a quarterly basis
through December 31, 2003.
SEC. 11. EXPEDITED ISSUANCE OF IMPLEMENTING GUIDELINES.
Not later than 20 days after the date of enactment of this Act, the
Administrator of the Small Business Administration shall issue interim
final rules and guidelines to implement this Act and the amendments
made by this Act.
SEC. 12. SPECIAL AUTHORIZATIONS OF APPROPRIATIONS.
Section 20 of the Small Business Act (15 U.S.C. 631 note) is
amended by adding at the end the following:
``(j) Special Authorizations of Appropriations Following Terrorist
Attacks.--In addition to any other amounts authorized by this Act for
any fiscal year, there are authorized to be appropriated to the
Administration, to remain available until expended--
``(1) for each of fiscal years 2002 through 2004, such sums
as may be necessary to carry out paragraph (4) of section 7(b),
including necessary loan capital and funds for administrative
expenses related to making and servicing loans pursuant to that
paragraph;
``(2) for fiscal year 2002, $25,000,000, to be used for
activities of small business development centers pursuant to
section 21(c)(3)(U)--
``(A) $2,500,000 of which shall be used to assist
small business concerns (as that term is defined for
purposes of section 7(b)(4)) located in the areas of
New York and the contiguous areas designated by the
President as a disaster area following the terrorist
attacks on September 11, 2001; and
``(B) $1,500,000 of which shall be used to assist
small business concerns located in areas of Virginia
and the contiguous areas designated by the President as
a disaster area following those terrorist attacks;
``(3) for fiscal year 2002, $2,000,000, to be used under
the Service Corps of Retired Executives program authorized by
section 8(b)(1) for the activities described in section
8(b)(1)(B)(ii);
``(4) for fiscal year 2002, $5,000,000 for microloan
technical assistance authorized under section 7(m)(14);
``(5) for fiscal year 2002, $2,000,000 to be used for
activities of women's business centers authorized by section
29(b)(4);
``(6) for each of fiscal years 2002 through 2004, such sums
as may be necessary to carry out paragraphs (18)(C) and (31) of
section 7(a), including any funds necessary to offset fees and
amounts waived or reduced under those provisions, necessary
loan capital, and funds for administrative expenses; and
``(7) for each of fiscal years 2002 through 2004, such sums
as may be necessary to carry out the temporary suspension of
fees under subsections (b)(7)(A) and (i) of section 503 of the
Small Business Investment Act of 1958, in response to the
terrorist attacks on September 11, 2001, including any funds
necessary to offset fees and amounts waived under those
provisions and including funds for administrative expenses.''.
Passed the Senate March 22, 2002.
Attest:
JERI THOMSON,
Secretary.