[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 141 Enrolled Bill (ENR)]

        S.141

                       One Hundred Eighth Congress

                                 of the

                        United States of America


                          AT THE FIRST SESSION

          Begun and held at the City of Washington on Tuesday,
           the seventh day of January, two thousand and three


                                 An Act


 
 To improve the calculation of the Federal subsidy rate with respect to 
          certain small business loans, and for other purposes.

    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. Such rate shall 
be deemed to have been effective on October 1, 2002.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.