HOUSE OF REPRESENTATIVES

1491

1995 T123.26

ment between the lender and the Administration delegates to the lender—

‘‘(I) complete authority to make and close

loans with a guarantee from the Administration without obtaining the prior specific approval of the Administration; and

‘‘(II) authority to service and liquidate

such loans.’’.

SEC. 3. GUARANTEE FEES.

(a) AMOUNT OF FEES.—Section 7(a)(18) of

the Small Business Act (15 U.S.C. 636(a)(18))

is amended to read as follows:

‘‘(18) GUARANTEE FEES.—

‘‘(A) IN GENERAL.—With respect to each

loan guaranteed under this subsection (other

than a loan that is repayable in 1 year or

less), the Administration shall collect a

guarantee fee, which shall be payable by the

participating lender and may be charged to

the borrower, in an amount equal to the sum

of—

‘‘(i) 3 percent of the amount of the deferred

participation share of the loan that is less

than or equal to $250,000;

‘‘(ii) if the deferred participation share of

the loan exceeds $250,000, 3.5 percent of the

difference between—

‘‘(I) $500,000 or the total deferred participation share of the loan, whichever is less; and

‘‘(II) $250,000; and

‘‘(iii) if the deferred participation share of

the loan exceeds $500,000, 3.875 percent of the

difference between—

‘‘(I) the total deferred participation share

of the loan; and

‘‘(II) $500,000.

‘‘(B) EXCEPTION FOR CERTAIN LOANS.—Notwithstanding subparagraph (A), if the total

deferred participation share of a loan guaranteed under this subsection is less than or

equal to $80,000, the guarantee fee collected

under subparagraph (A) shall be in an

amount equal to 2 percent of the total deferred participation share of the loan.’’.

(b) REPEAL OF PROVISIONS ALLOWING RETENTION OF FEES BY LENDERS.—Section

7(a)(19) of the Small Business Act (15 U.S.C.

636(a)(19)) is amended—

(1) in subparagraph (B)—

(A) by striking ‘‘shall (i) develop’’ and inserting ‘‘shall develop’’; and

(B) by striking ‘‘, and (ii)’’ and all that follows through the end of the subparagraph

and inserting a period; and

(2) by striking subparagraph (C).

SEC. 4. ESTABLISHMENT OF ANNUAL FEE.

(a) IN GENERAL.—Section 7(a) of the Small

Business Act (15 U.S.C. 636(a)) is amended by

adding at the end the following new paragraph:

‘‘(23) ANNUAL FEE.—

‘‘(A) IN GENERAL.—With respect to each

loan guaranteed under this subsection, the

Administration shall, in accordance with

such terms and procedures as the Administration shall establish by regulation, assess

and collect an annual fee in an amount equal

to 0.5 percent of the outstanding balance of

the deferred participation share of the loan.

‘‘(B) PAYER.—The annual fee assessed

under subparagraph (A) shall be payable by

the participating lender and shall not be

charged to the borrower.’’.

(b) CONFORMING AMENDMENT.—Section

5(g)(4)(A) of the Small Business Act (15

U.S.C. 634(g)(4)(A)) is amended—

(1) by striking the first sentence and inserting the following: ‘‘The Administration

may collect a fee for any loan guarantee sold

into the secondary market under subsection

(f) in an amount equal to not more than 50

percent of the portion of the sale price that

exceeds 110 percent of the outstanding principal amount of the portion of the loan guaranteed by the Administration.’’; and

(2) by striking ‘‘fees’’ each place such term

appears and inserting ‘‘fee’’.

SEC. 5. NOTIFICATION REQUIREMENT.

Section 7(a) of the Small Business Act (15

U.S.C. 636(a)) is amended by adding at the

end the following new paragraph:

‘‘(24) NOTIFICATION REQUIREMENT.—The Administration shall notify the Committees on

Small Business of the Senate and the House

of Representatives not later than 15 days before making any significant policy or administrative change affecting the operation of

the loan program under this subsection.’’.

SEC. 6. DEVELOPMENT COMPANY DEBENTURES.

Section 503(b) of the Small Business Investment Act of 1958 (15 U.S.C. 697(b)) is

amended—

(1) in paragraph (5), by striking ‘‘and’’ at

the end;

(2) in paragraph (6), by striking the period

at the end and inserting ‘‘; and’’; and

(3) by adding at the end the following new

paragraph:

‘‘(7) with respect to each loan made from

the proceeds of such debenture, the

Administration—

‘‘(A) assesses and collects a fee, which shall

be payable by the borrower, in an amount

equal to 0.125 percent per year of the outstanding balance of the loan; and

‘‘(B) uses the proceeds of such fee to offset

the cost (as such term is defined in section

502 of the Federal Credit Reform Act of 1990)

to the Administration of making guarantees

under subsection (a).’’.

SEC. 7. PILOT PREFERRED SURETY BOND GUARANTEE PROGRAM EXTENSION.

Section 207 of the Small Business Administration Reauthorization and Amendment Act

of 1988 (15 U.S.C. 694b note) is amended by

striking ‘‘September 30, 1995’’ and inserting

‘‘September 30, 1997’’.

SEC. 8. APPLICABILITY.

(a) IN GENERAL.—Except as provided in

subsection (b), the amendments made by this

Act do not apply with respect to any loan

made or guaranteed under the Small Business Act or the Small Business Investment

Act of 1958 before the date of enactment of

this Act.

(b) EXCEPTIONS.—The amendments made by

this Act apply to a loan made or guaranteed

under the Small Business Act or the Small

Business Investment Act of 1958 before the

date of enactment of this Act, if the loan is

refinanced, extended, restructured, or renewed on or after the date of enactment of

this Act.

And the House agree to the same.

That the Senate recede from its disagreement to the amendment of the House to the

title of the bill, and agree to the same.

JAN MEYERS,

PETER G. TORKILDSEN,

JIM LONGLEY,

JOHN J. LAFALCE,

GLENN POSHARD,

Managers on the Part of the House.

CHRISTOPHER S. BOND,

CONRAD BURNS,

PAUL COVERDELL,

DALE BUMPERS,

SAM NUNN,

Managers on the Part of the Senate.

When said conference report was considered.

After debate,

By unanimous consent, the previous

question was ordered on the conference

report to its adoption or rejection and,

under the operation thereof, the conference report was agreed to.

A motion to reconsidered the vote

whereby said conference report was

agreed to was, by unanimous consent,

laid on the table.

T123.24 RAOUL WALLENBERG MEMORIAL

On motion of Mr. EHLERS, by unanimous consent, the Committee on House

Oversight was discharged from further

consideration of the following concurrent resolution (H. Con. Res. 94):

Resolved by the House of Representatives (the

Senate concurring),

SECTION 1. DEDICATION CEREMONY AND PLACEMENT OF A BUST OF RAOUL

WALLENBERG IN THE CAPITOL.

The rotunda of the Capitol may be used on

November 2, 1995, for a ceremony incident to

the placement of a bust of Raoul Wallenberg

in the Capitol as previously authorized by

Congress.

SEC. 2. SECURITY AND PHYSICAL PREPARATIONS.

The Capitol Police Board shall take such

action with respect to security as may be

necessary to carry out section 1. The Architect of the Capitol shall make appropriate

physical preparations for the ceremony referred to in section 1.

When said concurrent resolution was

considered and agreed to.

A motion to reconsider the vote

whereby said concurrent resolution

was agreed to was, by unanimous consent, laid on the table.

T123.25 ADJOURNMENT OF THE TWO

HOUSES

Mr. SHAYS, submitted the following

privileged concurrent resolution (H.

Con. Res. 104):

Resolved by the House of Representatives (the

Senate concurring), That when the House adjourns on the legislative day of Friday, September 29, 1995, it stand adjourned until 10

a.m. on Friday, October 6, 1995, or until noon

on the second day after Members are notified

to reassemble pursuant to section 2 of this

concurrent resolution, whichever occurs

first; and that when the Senate recesses or

adjourns on any day beginning with Friday,

September 29, 1995, through Friday, October

6, 1995, pursuant to a motion made by the

Majority Leader or his designee in accordance with this resolution, it stand recessed

or adjourned until noon on Tuesday, October

10, 1995, or until such time on that day as

may be specified by the Majority Leader or

his designee in the motion to recess or adjourn, or until noon on the second day after

Members are notified to reassemble pursuant

to section 2 of this concurrent resolution,

whichever occurs first.

SEC. 2. The Speaker of the House and the

Majority Leader of the Senate, acting jointly

after consultation with the Minority Leader

of the House and the Minority Leader of the

Senate, shall notify the Members of the

House and the Senate, respectively, to reassemble whenever, in their opinion, the public

interest shall warrant it.

When said concurrent resolution was

considered and agreed to.

A motion to reconsider the vote

whereby said concurrent resolution

was agreed to was, by unanimous consent, laid on the table.

Ordered, That the Clerk request the

concurrence of the Senate in said concurrent resolution.

T123.26 EXTENSION OF REMARKS

On motion of Mr. SHAYS, by unanimous consent,

Ordered, That for the legislative day

of Friday, September 29, 1995, all Members be permitted to extend their remarks and to include extraneous mate-