[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.