I 
111TH CONGRESS 
2D SESSION 
H. R. 5302 
To establish the State Small Business Credit Initiative, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 13, 2010 
Mr. PETERS (for himself, Mr. LEVIN, Mr. DINGELL, Mr. MAFFEI, Mr. SAR-
BANES, Mr. REYES, Ms. NORTON, Mr. SCHAUER, Mr. PASCRELL, Mr. 
STUPAK, Ms. TSONGAS, Mr. WATT, Mr. TONKO, Mr. ETHERIDGE, Ms. 
LINDA T. SA´NCHEZ of California, Mr. ADLER of New Jersey, Mr. KAN-
JORSKI, Mr. MOORE of Kansas, Mr. MICHAUD, Ms. SUTTON, Ms. BEAN, 
Mr. LIPINSKI, Ms. MOORE of Wisconsin, Mr. LOEBSACK, Mr. KILDEE, 
and Mr. MILLER of North Carolina) introduced the following bill; which 
was referred to the Committee on Financial Services 
A BILL 
To establish the State Small Business Credit Initiative, and 
for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘State Small Business 
Credit Initiative Act of 2010’’. 
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SEC. 2. DEFINITIONS. 
For purposes of this Act, the following definitions 
shall apply: 
(1) APPROPRIATE
FEDERAL
BANKING
AGEN-
CY.—The term ‘‘appropriate Federal banking agen-
cy’’— 
(A) has the same meaning as in section 3 
of the Federal Deposit Insurance Act; and 
(B) includes the National Credit Union 
Administration Board in the case of any credit 
union the deposits of which are insured in ac-
cordance with the Federal Credit Union Act. 
(2) ENROLLED
LOAN.—The term ‘‘enrolled 
loan’’ means a loan made by a financial institution 
lender that is enrolled by a participating State in an 
approved State capital access program in accordance 
with this Act. 
(3) FEDERAL CONTRIBUTION.—The term ‘‘Fed-
eral contribution’’ means the portion of the contribu-
tion made by a participating State to, or for the ac-
count of, an approved State program that is made 
with Federal funds allocated to the State by the Sec-
retary under section 3. 
(4) FINANCIAL
INSTITUTION.—The term ‘‘fi-
nancial institution’’ means any insured depository 
institution, insured credit union, or community de-
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velopment financial institution, as those terms are 
each defined in section 103 of the Riegle Community 
Development and Regulatory Improvement Act of 
1994. 
(5) PARTICIPATING STATE.—The term ‘‘partici-
pating State’’ means any State that has been ap-
proved for participation in the Program under sec-
tion 4. 
(6) PROGRAM.—The term ‘‘Program’’ means 
the State Small Business Credit Initiative estab-
lished under this Act. 
(7) QUALIFYING LOAN OR SWAP FUNDING FA-
CILITY.—The term ‘‘qualifying loan or swap funding 
facility’’ means a contractual arrangement between a 
participating State and a private financial entity 
under which— 
(A) the participating State delivers funds 
to the entity as collateral; 
(B) the entity provides funding from the 
arrangement back to the participating State; 
and 
(C) the full amount of resulting funding 
from the arrangement, less any fees and other 
costs of the arrangement, is contributed to, or 
for the account of, an approved State program. 
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(8) RESERVE FUND.—The term ‘‘reserve fund’’ 
means a fund, established by a participating State, 
dedicated to a particular financial institution lender, 
for the purposes of— 
(A) 
depositing 
all 
required 
premium 
charges paid by the financial institution lender 
and by each borrower receiving a loan under an 
approved State program from that financial in-
stitution lender; 
(B) depositing contributions made by the 
participating State, including State contribu-
tions made with Federal contributions; and 
(C) covering losses on enrolled loans by 
disbursing accumulated funds. 
(9) STATE.—The term ‘‘State’’ means— 
(A) a State of the United States; 
(B) the District of Columbia; 
(C) when designated by a State of the 
United States, a political subdivision of that 
State that the Secretary determines has the ca-
pacity to participate in the Program; and 
(D) under the circumstances described in 
section 4(d), a municipality of a State of the 
United States to which the Secretary has given 
a special permission under section 4(d). 
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