An amendment numbered 8 printed in part C of House Report 111-506 to institute a new Office of Small Business Lending Fund Oversight.

1. 1

   Change 1: Rewrites page 23, lines 7–9

   ReplacesPrinted page

   Removes page 23, lines 7–9 of the printed bill. See that page

   Inserted: of the Program through the Office of Small Business Lending Fund Program Oversight established under subsection (b)

   Original wording

   Page 23, strike lines 7 through 9 and insert the following: “of the Program through the Office of Small Business Lending Fund Program Oversight established under subsection (b)”.

2. 2

   Change 2: Inserts new text on page 23, line 9

   InsertsPrinted page

   Inserted: (b) Office of Small Business Lending Fund Program Oversight.--

   Inserted: (1) Establishment.--There is hereby established within the Office of the Inspector General of the Department of the Treasury a new office to be named the "Office of Small Business Lending Fund Program Oversight" to provide oversight of the Program.

   Inserted: (2) Leadership.--The Inspector General shall appoint a Special Deputy Inspector General for SBLF Program Oversight to lead the Office, with commensurate staff, who shall report directly to the Inspector General and who shall be responsible for the performance of all auditing and investigative activities relating to the Program.

   Inserted: (3) Reporting.--

   Inserted: (A) In general.--The Inspector General shall issue a report no less than two times a year to the Congress and the Secretary devoted to the oversight provided by the Office, including any recommendations for improvements to the Program.

   Inserted: (B) Recommendations.--With respect to any deficiencies identified in a report under subparagraph (A), the Secretary shall either--

   Inserted: (i) take actions to address such deficiencies; or

   Inserted: (ii) certify to the appropriate committees of Congress that no action is necessary or appropriate.

   Inserted: (4) Coordination.--The Inspector General, in maximizing the effectiveness of the Office, shall work with other Offices of Inspector General, as appropriate, to minimize duplication of effort and ensure comprehensive oversight of the Program.

   Inserted: (5) Termination.--The Office shall terminate at the end of the 6-month period beginning on the date on which all capital investments are repaid under the Program or the date on which the Secretary determines that any remaining capital investments will not be repaid.

   Inserted: (6) Definitions.--For purposes of this subsection:

   Inserted: (A) Office.--The term "Office" means the Office of Small Business Lending Fund Program Oversight established under paragraph (1).

   Show 1 more inserted paragraphShow less

   Inserted: (B) Inspector general.--The term "Inspector General" means the Inspector General of the Department of the Treasury.

   Original wording

   Page 23, after line 9, insert the following new subsection:

3. 3

   Change 3: Replaces “(b)” with “(c)”

   ReplacesPage 23, line 10Printed page

   [struck: (b)][inserted: (c)]

   Original wording

   Page 23, line 10, strike “(b)” and insert “(c)”.

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

As printed