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‘‘(2) any moneys received by the Administration
from the repurchase of preferred stock shall be
available solely to provide debenture leverage to li-
censees having 50 percent or more in aggregate dol-
lar amount of their financings invested in smaller
enterprises.’’; and
(iii) in subsection (g)(8)—
(I) by striking ‘‘partners or
shareholders’’ and inserting ‘‘part-
ners, shareholders, or members’’;
(II) by striking ‘‘partner’s or
shareholder’s’’ and inserting ‘‘part-
ner’s, shareholder’s, or member’s’’;
and
(III) by striking ‘‘partner or
shareholder’’ and inserting ‘‘partner,
shareholder, or member’’;
(B) in section 308(h), by striking ‘‘sub-
section (c) or (d) of section 301’’ each place
that term appears and inserting ‘‘section 301’’;
(C) in section 310(c)(4), by striking ‘‘not
less than four years in the case of section
301(d) licensees and in all other cases,’’;
(D) in section 312—
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(i) by striking ‘‘shareholders or part-
ners’’ and inserting ‘‘shareholders, part-
ners, or members’’; and
(ii) by striking ‘‘shareholder, or part-
ner’’ each place that term appears and in-
serting ‘‘shareholder, partner, or member’’;
(E) by striking sections 317 and 318, and
redesignating sections 319 through 322 as sec-
tions 317 through 320, respectively;
(F) in section 319, as redesignated—
(i) in subsection (a), by striking ‘‘, in-
cluding companies operating under the au-
thority of section 301(d),’’; and
(ii) in subsection (f)(2), by inserting
‘‘or investments in obligations of the Unit-
ed States’’ after ‘‘accounts’’;
(G) in section 320, as redesignated, by
striking ‘‘section 321’’ and inserting ‘‘section
319’’; and
(H) in section 509—
(i) in subsection (a)(1), by striking
the second sentence; and
(ii) in subsection (e)(1)(B), by strik-
ing ‘‘subsection (c) or (d) of section 301’’
and inserting ‘‘section 301’’.
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(2) AMENDMENT
IN
OTHER
LAW.—Section
11(h) of the Federal Home Loan Bank Act (12
U.S.C. 1431(h)) is amended by striking ‘‘301(d)’’
and inserting ‘‘301’’.
(i) AMENDMENTS
TO
THE SMALL BUSINESS
ACT.—
(1) POWERS OF THE ADMINISTRATOR.—Section
5(b)(7) of the Small Business Act (15 U.S.C.
634(b)(7)) is amended by striking the colon and all
that follows before the semicolon at the end of the
paragraph and inserting the following: ‘‘: Provided,
That with respect to deferred participation loans,
the Administrator may, in the discretion of and pur-
suant to regulations promulgated by the Adminis-
trator, authorize participating lending institutions to
take actions relating to loan servicing on behalf of
the Administrator, including determining eligibility
and creditworthiness and loan monitoring, collection,
and liquidation’’.
(2) AUTHORIZATION
OF
APPROPRIATIONS.—
Section 20(p)(3) of the Small Business Act (15
U.S.C. 631 note) is amended by striking subpara-
graph (B) and inserting the following:
‘‘(B) $300,000,000 in guarantees of de-
bentures; and’’.
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(j) EFFECTIVE DATE.—This section and the
amendments made by this section shall become effective
on the date of enactment of this Act.
DIVISION E
TITLE 
I—CALIFORNIA 
BAY-
DELTA ENVIRONMENTAL EN-
HANCEMENT AND WATER SE-
CURITY ACT
SEC. 101. SHORT TITLE.
This title may be cited as the ‘‘California Bay-
Delta Environmental Enhancement and Water Security
Act.’’
SEC. 102. PROGRAM FUNDING.
(a) AUTHORIZATION
OF APPROPRIATIONS.—For
each of the fiscal years 1998, 1999 and 2000, there are
authorized 
to 
be 
appropriated 
an 
additional
$143,300,000 for both (1) the initial Federal share of the
cost of developing and implementing that portion of an
ecosystem protection plan for the Bay-Delta, referred to
as ‘‘the Category III program’’ emanating out of the doc-
ument entitled ‘‘Principles for Agreement on Bay-Delta
Standards Between the State of California and the Fed-
eral Government,’’ dated December 15, 1994, and, (2)
the initial Federal share of the cost of developing and im-
plementing the ecosystem restoration elements of the
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long-term CALFED Bay-Delta Program, pursuant to the
cost-sharing agreement required by Section 78684.10 of
California Senate Bill 900, Chapter 135, Statutes of
1996, signed by the Governor of California on July 11,
1996. Funds appropriated pursuant to this section shall
remain available until expended and shall be administered
in accordance with procedures established by CALFED
Bay-Delta Program until Congress authorizes another
entity that is recommended by CALFED Bay-Delta Pro-
gram to carry out this section.
(b) Funds authorized to be appropriated pursuant
to this section to those agencies that are currently or
subsequently become participants in the CALFED Bay-
Delta Program shall be in addition to the baseline fund-
ing levels established pursuant to section 103 of this title,
for currently authorized projects and programs under the
Central Valley Project Improvement Act, Title 34 of Pub-
lic Law 102–575 and other currently authorized Federal
programs for the purpose of Bay-Delta ecosystem protec-
tion and restoration.
(c) Nothing in this title shall be deemed to dimin-
ish the Federal interest in and responsibility for working
with the State of California through the CALFED Bay-
Delta Program in developing, funding and implementing
a balanced, long-term solution to the problems of eco-