[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 3604 Introduced in Senate (IS)]

111th CONGRESS
  2d Session
                                S. 3604

            To extend the small business loan enhancements.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 15, 2010

 Ms. Snowe (for herself, Mr. Grassley, Mr. Enzi, Mr. Isakson, and Ms. 
   Collins) introduced the following bill; which was read twice and 
    referred to the Committee on Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
            To extend the small business loan enhancements.

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

SECTION 1. SMALL BUSINESS LOAN GUARANTEE ENHANCEMENT EXTENSIONS.

    (a) Appropriation.--There is appropriated, out of any funds in the 
Treasury not otherwise appropriated, for an additional amount for 
``Small Business Administration--Business Loans Program Account'', 
$480,000,000, to remain available through December 31, 2010, for the 
cost of--
            (1) fee reductions and eliminations under section 501 of 
        division A of the American Recovery and Reinvestment Act of 
        2009 (Public Law 111-5; 123 Stat. 151), as amended by this 
        section; and
            (2) loan guarantees under section 502 of division A of the 
        American Recovery and Reinvestment Act of 2009 (Public Law 111-
        5; 123 Stat. 152), as amended by this section.
Such costs, including the cost of modifying such loans, shall be as 
defined in section 502 of the Congressional Budget Act of 1974.
    (b) Extension of Programs.--
            (1) Fees.--Section 501 of division A of the American 
        Recovery and Reinvestment Act of 2009 (Public Law 111-5; 123 
        Stat. 151) is amended by striking ``September 30, 2010'' each 
        place it appears and inserting ``December 31, 2010''.
            (2) Loan guarantees.--Section 502(f) of division A of the 
        American Recovery and Reinvestment Act of 2009 (Public Law 111-
        5; 123 Stat. 153) is amended by striking ``May 31, 2010'' and 
        inserting ``December 31, 2010''.
    (c) Appropriation.--There is appropriated, out of any funds in the 
Treasury not otherwise appropriated, for an additional amount for 
administrative expenses to carry out sections 501 and 502 of division A 
of the American Recovery and Reinvestment Act of 2009 (Public Law 111-
5), $5,000,000, to remain available until expended, which may be 
transferred and merged with the appropriation for ``Small Business 
Administration--Salaries and Expenses''.
    (d) Use of Stimulus Funds To Offset Spending.--Notwithstanding 
section 5 of the American Recovery and Reinvestment Act of 2009 (Public 
Law 111-5; 123 Stat. 116), $485,000,000 is rescinded on a pro rata 
basis, by account, from unobligated amounts appropriated or made 
available under division A of the American Recovery and Reinvestment 
Act of 2009 (Public Law 111-5; 123 Stat. 116) (other than under title X 
of division A of such Act) in order to offset the increase in spending 
resulting from subsections (a) and (c) of this section. The Director of 
the Office of Management and Budget shall report to each congressional 
committee the amounts rescinded under this subsection within the 
jurisdiction of such committee.
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