Text: S.141 — 108th Congress (2003-2004)All Information (Except Text)

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Public Law No: 108-8 (02/25/2003)

 
[108th Congress Public Law 8]
[From the U.S. Government Printing Office]


[DOCID: f:publ008.108]

[[Page 117 STAT. 555]]

Public Law 108-8
108th Congress

                                 An Act


 
 To improve the calculation of the Federal subsidy rate with respect to 
 certain small business loans, and for other purposes. <<NOTE: Feb. 25, 
                           2003 -  [S. 141]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SUBSIDY RATE FOR SMALL BUSINESS LOANS.

    Notwithstanding section 502(5)(F) of the Federal Credit Reform Act 
of 1990 and section 254(j) of the Balanced Budget and Emergency Deficit 
Control Act of 1985, the Director of the Office of Management and 
Budget, in calculating the Federal cost for guaranteeing loans during 
fiscal year 2003 under section 7(a) of the Small Business Act (15 U.S.C. 
636(a)), may use the most recently approved subsidy cost model and 
methodology in conjunction with the program and economic assumptions, 
and historical data which were included in the fiscal year 2003 budget. 
After written notification to Congress, the Small Business 
Administration shall implement the validated, OMB-approved subsidy rate 
for fiscal year 2003, using this model and 
methodology. <<NOTE: Effective date.>> Such rate shall be deemed to have 
been effective on October 1, 2002.

    Approved February 25, 2003.

LEGISLATIVE HISTORY--S. 141:
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CONGRESSIONAL RECORD, Vol. 149 (2003):
            Jan. 10, considered and passed Senate.
            Feb. 11, considered and passed House.

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