[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5645 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 5645

To improve the calculation of the subsidy rate with respect to certain 
    small business loans and certain development company debentures.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 16, 2002

  Mr. Manzullo (for himself and Mr. Nussle) introduced the following 
    bill; which was 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

_______________________________________________________________________

                                 A BILL


 
To improve the calculation of the subsidy rate with respect to certain 
    small business loans and certain development company debentures.

    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 ``Small Business Access to Credit Act 
of 2002''.

SEC. 2. SUBSIDY RATE FOR SMALL BUSINESS LOANS.

    For purposes of calculating the cost (as that term is defined in 
section 502 of the Federal Credit Reform Act of 1990) to the Small 
Business Administration of loans and loan guarantees and modifications 
thereof under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) 
for fiscal year 2003 and each fiscal year thereafter, the Director of 
the Office of Management and Budget shall use an econometric model 
approved by the Director of the Office of Management and Budget for 
such purpose.

SEC. 3. SUBSIDY RATE FOR DEVELOPMENT COMPANY DEBENTURES.

    (a) In General.--For purposes of calculating the cost (as that term 
is defined in section 502 of the Federal Credit Reform Act of 1990) to 
the Small Business Administration of guarantees and modifications 
thereof under title V of the Small Business Investment Act of 1958 (15 
U.S.C. 695 et seq.) for fiscal year 2003 and each fiscal year 
thereafter, the Director of the Office of Management and Budget shall 
use an econometric model approved by the Director of the Office of 
Management and Budget for such purpose.
    (b) Approval of Model for 2003.--Not later than the end of the 120-
day period beginning on the date of the enactment of this Act--
            (1) the Director of the Office of Management and Budget 
        shall approve an econometric model described in subsection (a) 
        for fiscal year 2003; and
            (2) before such approval, the Comptroller General of the 
        United States shall review and verify the initial results of 
        such model.
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