[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 1196 Engrossed Amendment Senate (EAS)]

  
  
  
  
  
  
  
  
  
  

                  In the Senate of the United States,

                        December 8 (legislative day, December 7), 2001.
      Resolved, That the Senate agree to the amendment of the House of 
Representatives to the bill (S. 1196) entitled ``An Act to amend the 
Small Business Investment Act of 1958, and for other purposes.'' with 
the following

                  SENATE AMENDMENT TO HOUSE AMENDMENT:

    Page 13 of the House engrossed amendment, strike out all after line 
8 over to and including line 2 on page 16 and insert:

SEC. 6. REDUCTION OF FEES.

    (a) Two-Year 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) Two-year reduction in fees.--With respect to 
                loans approved during the 2-year period beginning on 
                October 1, 2002, 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 2-
        year period beginning on October 1, 2002, 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 2-year period beginning on October 
                        1, 2002, for the life of the loan; and''; and
            (2) by adding at the end the following:
    ``(i) Two-Year 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 2-year period beginning on October 1, 2002.''.
    (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 2-year 
period beginning on October 1, 2002, 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) Effective Date.--The amendments made by this section shall 
become effective on October 1, 2002.

            Attest:

                                                             Secretary.
107th CONGRESS

  1st Session

                                S. 1196

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                  SENATE AMENDMENT TO HOUSE AMENDMENT