Bill summaries are authored by CRS.

Shown Here:
Public Law (02/25/2003)

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

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 the most recently approved subsidy cost model and methodology in conjunction with the program and economic assumptions, and historical data included in the FY 2003 budget. Requires the Small Business Administration, after written notification to Congress, to implement the validated, OMB-approved subsidy rate for FY 2003, using this model and methodology.