To reduce fees on loans to small businesses.

1. Adds SEC. 5___. SMALL BUSINESS FEES at the end of title V

   Adds a section

   Inserted: SEC. 5___. SMALL BUSINESS FEES.

   Inserted: (a) Fees.--Section 7(a)(23) of the Small Business Act (15 U.S.C. 636(a)(23)) is amended by striking subparagraph (C) and inserting the following:

   Inserted: "(C) Lowering of fees.--

   Inserted: "(i) In general.--Subject to clauses (ii) and (iii)--

   Inserted: "(I) the Administrator may reduce fees paid by small business borrowers and lenders under clauses (i) through (iv) of paragraph (18)(A) and subparagraph (A) of this paragraph; and

   Inserted: "(II) fees paid by small business borrowers and lenders shall not be increased above the levels in effect on the date of enactment of the Consolidated Appropriations Act, 2005.

   Inserted: "(ii) Determinations.--A reduction in fees under clause (i) shall occur in any case in which the fees paid by all small business borrowers and by lenders for guarantees under this subsection, or the sum of such fees plus any amount appropriated to carry out this subsection, as applicable, is more than the amount necessary to equal the cost to the Administration of making such guarantees.".

   Original wording

   At the end of title V, add the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed