S.3172 - A bill to improve the calculation of the Federal subsidy rate with respect to certain small business loans, and for other purposes.107th Congress (2001-2002)
|Sponsor:||Sen. Bond, Christopher S. [R-MO] (Introduced 11/15/2002)|
|Committees:||House - Budget; Small Business|
|Latest Action:||House - 11/19/2002 Referred to the Committee on the Budget, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (All Actions)|
This bill has the status Passed Senate
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- Passed Senate
Summary: S.3172 — 107th Congress (2001-2002)All Information (Except Text)
Authorizes the Director of the Office of Management and Budget (OMB), in calculating the Federal cost for guaranteeing small business loans under the Small Business Act during FY 2003, to use: (1) the most recently approved subsidy cost model and methodology in conjunction with the program and economic assumptions; and (2) historical data included in the FY 2003 budget. Requires the Small Business Administration (SBA), after written notification to Congress, to implement the validated, OMB-approved rate for FY 2003.
Passed Senate without amendment (11/15/2002)
Amends the Department of Defense and Emergency Supplemental Appropriations for Recovery from and Response to Terrorist Attacks on the United States Act, 2002 to allow funds appropriated to the SBA for emergency expenses to also be used for such loan guarantee subsidies.