PUBLIC LAW 107-100—DEC. 21, 2001 115 STAT. 971 "(C) TWO-YEAR REDUCTION IN FEES. —W ith respect to loans approved during the 2-year period beginning on October 1, 2002, the guaremtee fee under subparagraph (A) shall be as follows: "(i) A guarantee fee equal to 1 percent of the deferred participation share of a total loan amount that is not more them $150,000. "(ii) A guarantee fee equed to 2.5 percent of the deferred participation share of a total loan amount that is more than $150,000, but not more than $700,000. "(iii) A guarantee fee equal to 3.5 percent of the deferred participation share of a total loan amount that is more than $700,000.". (2) ANNUAL FEES. —Section 7(a)(23)(A) of the Small Business Act (15 U.S.C. 636(a)(23)(A)) is amended by adding at the end the following: "With respect to loans approved during the 2-year period beginning on October 1, 2002, the annual fee assessed and collected under the preceding sentence shall be in an amount equal to 0.25 percent of the outstanding balance of the deferred participation share of the loan.". (b) REDUCTION OF SECTION 504 FEES. —Section 503 of the Small Business Investment Act of 1958 (15 U.S.C. 697) is amended— (1) in subsection (b)(7)(A)— (A) by redesignating clauses (i) and (ii) as subclauses (1) and (II), respectively, and moving the margins 2 ems to the right; (B) by striking "not exceed the lesser" and inserting "not exceed— "(i) the lesser"; and (C) by adding at the end the following: "(ii) 50 percent of the amount established under clause (i) in the case of a loan made during the 2- year period beginning on October 1, 2002, for the life of the loan; and"; and (2) by adding at the end the following: "(i) Two-YEAR WAIVER OF FEES. —The Administration may not assess or collect any up front guarantee fee with respect to loans made under this title during the 2-year period beginning on October 1, 2002.". (c) BUDGETARY TREATMENT OF LOANS AND FINANCINGS. —Assist- is use 636 note. ance made available under any loan made or approved by the Small Business Administration under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) or financings made under title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.), during the 2-year period beginning on October 1, 2002, shall be treated as separate programs of the Smedl Business Administration for purposes of the Federal Credit Reform Act of 1990 only. 89-194O-03 -32QL3 Part1
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