[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2700 Considered and Passed Senate (CPS)]







108th CONGRESS
  2d Session
                                S. 2700

  To provide an additional temporary extension of programs under the 
   Small Business Act and the Small Business Investment Act of 1958 
          through September 17, 2004, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 20, 2004

 Ms. Snowe (for herself and Mr. Kerry) introduced the following bill; 
   which was read twice, considered, read the third time, and passed

_______________________________________________________________________

                                 A BILL


 
  To provide an additional temporary extension of programs under the 
   Small Business Act and the Small Business Investment Act of 1958 
          through September 17, 2004, 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. ADDITIONAL TEMPORARY EXTENSION OF PROGRAMS UNDER SMALL 
              BUSINESS ACT AND SMALL BUSINESS INVESTMENT ACT OF 1958.

    The authorization for any program, authority, or provision, 
including any pilot program, that was extended through June 4, 2004, by 
section 1 of Public Law 108-217 is further extended through September 
17, 2004, under the same terms and conditions.

SEC. 2. TECHNICAL AMENDMENT.

    Section 2 of Public Law 108-205 is amended by striking ``October 1, 
2003'' and inserting ``March 15, 2004''. The amendment made by the 
preceding sentence shall take effect as if included in the enactment of 
the section to which it relates.

SEC. 3. COMPENSATION OF AGENTS.

    Section 5 of the Small Business Act (15 U.S.C. 634) is amended--
            (1) in subsection (g)(4), by adding at the end the 
        following:
                    ``(C) The Administration may contract with an agent 
                to carry out, on behalf of the Administration, the 
                assessment and collection of the annual fee established 
                under section 7(a)(23). The agent may receive, as 
                compensation for services, any interest earned on the 
                fee while in the control of the agent before the time 
                at which the agent is contractually required to remit 
                the fee to the Administration.''; and
            (2) in subsection (h)--
                    (A) by redesignating paragraph (2) as paragraph 
                (3); and
                    (B) by inserting after paragraph (1) the following:
            ``(2) The agent described in paragraph (1)(B) may be 
        compensated through any of the fees assessed under this section 
        and any interest earned on any funds collected by the agent 
        while such funds are in the control of the agent and before the 
        time at which the agent is contractually required to transfer 
        such funds to the Administration or to the holders of the trust 
        certificates, as appropriate.''.
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