S. 3172 — A bill to improve the calculation of the Federal subsidy rate with respect to certain small business loans, and for other purposes.

Summary

Authorizes the Director of the Office of Management and Budget (OMB), in calculating the Federal cost for guaranteeing small business loans under the Small Business Act during FY 2003, to use: (1) the most recently approved subsidy cost model and methodology in conjunction with the program and economic assumptions; and (2) historical data included in the FY 2003 budget. Requires the Small Business Administration (SBA), after written notification to Congress, to implement the validated, OMB-approved rate for FY 2003.

Amends the Department of Defense and Emergency Supplemental Appropriations for Recovery from and Response to Terrorist Attacks on the United States Act, 2002 to allow funds appropriated to the SBA for emergency expenses to also be used for such loan guarantee subsidies.

Full Text

Legislative Actions

2002-11-15
Introduced in Senate
2002-11-15
Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S11219-11222; text as passed Senate: CR S11222)
2002-11-15
Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S11219-11222; text as passed Senate: CR S11222)
2002-11-19
Message on Senate action sent to the House.
2002-11-19
Received in the House.
2002-11-19
Referred to the Committee on the Budget, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2002-11-19
Referred to the Committee on the Budget, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2002-11-19
Referred to the Committee on the Budget, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

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

Sponsors

Subjects

Summary

Full Text

Legislative Actions

Ask about this bill