S.Amdt. 4009

1. Adds SEC. ___. ECONOMIC STIMULUS SMALL BUSINESS CONCERNS wherever appropriate

   Adds a section

   Inserted: SEC. ___. ECONOMIC STIMULUS SMALL BUSINESS CONCERNS.

   Inserted: (a) In General.--For fiscal year 2008, and to the extent the cost of such reduction in fees are offset by appropriations, with respect to each loan guaranteed under section 7(a) of Small Business Act (15 U.S.C. 636(a)), the Administrator of the Small Business Administration shall, in lieu of the fee otherwise applicable under section 7(a)(23)(A) of the Small Business Act (15 U.S.C. 636(a)(23)(A)), collect an annual fee in an amount equal to a maximum of .25 percent of the outstanding balance of the deferred participation share of that loan, and in lieu of the fee otherwise applicable under section 7(a)(18)(A) of the Small Business Act (15 U.S.C. 636(a)(18)(A)), collect a guarantee fee in an amount equal to a maximum of 1 percent of the deferred participation share of a total loan amount that is not more than $150,000, 2.5 percent of the deferred participation share of a total loan amount that is more than $150,000, and not more than $700,000, and 3 percent of the deferred participation share of a total loan amount that is more than $700,000, and in lieu of the fee otherwise applicable under section 7(a)(18)(A)(iv) of the Small Business Act (15 U.S.C. 636(a)(18)(A)(iv)), collect no fee. In carrying out this subsection, the Administrator of the Small Business Administration shall reduce the fees for a loan guaranteed under section 7(a) of Small Business Act (15 U.S.C. 636(a)) to the maximum extent possible, subject to the availability of appropriations.

   Inserted: (b) Appropriation.--There are appropriated, out of any money in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2008, for the "Business Loans Program Account" of the Small Business Administration, $150,000,000 for loan subsidies and for loan modifications for loans to small business concerns authorized under subsection (a), and $2,000,000, to remain available until expended, for direct loans under the Microloan Program under section 7(m) of the Small Business Act (15 U.S.C. 636(m)), and for the "Salaries and Expenses Account" of the Small Business Administration, $10,000,000, to remain available until expended, for marketing, management, and technical assistance under section 7(m)(4) of the Small Business Act (15 U.S.C. 636(m)(4)) by intermediaries that make microloans under the Microloan Program: Provided, That the amounts provided under this subsection are designated as an emergency requirement pursuant to section 204 of S. Con. Res. 21 (110th Congress).

   Inserted: (c) Application of Fee Reductions.--The Administrator of the Small Business Administration shall reduce the fees under subsection (a) for any loan guarantee subject to such subsection for which the application is pending approval on or after the date of enactment of this Act, until the amount provided for such purpose under subsection (b) is expended.

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   Original wording

   At the appropriate place, insert the following:

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As printed