Sec. 1702. BUSINESS LOANS PROGRAM ACCOUNT

262 words·~1 min read·/statute-compilations/comps-9466/sec-1702

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

## SEC. 1702 BUSINESS LOANS PROGRAM ACCOUNT ###

(a)In General There is appropriated, out of any money in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2010, for an additional amount for the appropriations account appropriated under the heading “business loans program account” under the heading “Small Business Administration”— ####

(1)$8,000,000, to remain available until September 30, 2012, for fiscal year 2011 for the cost of direct loans authorized under section 7(l) of the Small Business Act, as added by section 1131 of this title, including the cost of modifying the loans; ####

(2)$8,000,000, to remain available until September 30, 2012, for fiscal year 2012 for the cost of direct loans authorized under section 7(l) of the Small Business Act, as added by section 1131 of this title, including the cost of modifying the loans; ####

(3)$6,500,000, to remain available until September 30, 2012, for administrative expenses to carry out the direct loan program authorized under section 7(l) of the Small Business Act, as added by section 1131 of this title, which may be transferred to and merged with the appropriations account appropriated under the heading “salaries and expenses” under the heading “Small Business Administration”; and ####

(4)$15,000,000, to remain available until September 30, 2011, for the cost of guaranteed loans as authorized under section 7(a) of the Small Business Act, including the cost of modifying the loans. ###

(b)Definition In this section, the term “cost” has the meaning given that term in section 502 of the Congressional Budget Act of 1974.