    [United States Statutes at Large, Volume 117, 108th Congress, 1st Session]
    [From the U.S. Government Publishing Office, www.gpo.gov]

    117 STAT. 555

    Public Law 108-8
    108th Congress

    An Act

    To improve the calculation of the Federal subsidy rate with respect to
    certain small business loans, and for other purposes. [NOTE: Feb. 25,
    2003 -  [S. 141]]

    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. [NOTE: Effective date.] Such rate shall be deemed to have
    been effective on October 1, 2002.

    Approved February 25, 2003.

    LEGISLATIVE HISTORY--S. 141:
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    CONGRESSIONAL RECORD, Vol. 149 (2003):
    Jan. 10, considered and passed Senate.
    Feb. 11, considered and passed House.