instruction:
In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
question:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Water Advanced Technologies for 
Efficient Resource Use Act of 2009''.

SEC. 2. WATERSENSE.

    (a) In General.--There is established within the Environmental 
Protection Agency a WaterSense program to identify and promote water 
efficient products, buildings and landscapes, and services in order--
            (1) to reduce water use;
            (2) to reduce the strain on water, wastewater, and 
        stormwater infrastructure;
            (3) to conserve energy used to pump, heat, transport, and 
        treat water; and
            (4) to preserve water resources for future generations,
through voluntary labeling of, or other forms of communications about, 
products, buildings and landscapes, and services that meet the highest 
water efficiency and performance standards.
    (b) Duties.--The Administrator of the Environmental Protection 
Agency shall--
            (1) promote WaterSense labeled products, buildings and 
        landscapes, and services in the market place as the preferred 
        technologies and services for--
                    (A) reducing water use; and
                    (B) ensuring product and service performance;
            (2) work to enhance public awareness of the WaterSense 
        label through public outreach, education, and other means;
            (3) establish and maintain performance standards so that 
        products, buildings and landscapes, and services labeled with 
        the WaterSense label perform as well or better than their less 
        efficient counterparts;
            (4) publicize the importance of proper installation of 
        WaterSense plumbing products by a WaterSense-certified or, if 
        WaterSense certification guidelines do not exist, licensed 
        plumber or mechanical contractor, and the installation, 
        maintenance, and audit of WaterSense irrigation systems by a 
        WaterSense-certified irrigation professional to ensure optimal 
        performance;
            (5) preserve the integrity of the WaterSense label;
            (6) regularly review and, when appropriate, update 
        WaterSense criteria for categories of products, buildings and 
        landscapes, and services, at least once every four years;
            (7) regularly collect and make available to the public 
        summary data on the production and relative market shares of 
        WaterSense labeled products, buildings and landscapes, and 
        services, at least annually;
            (8) regularly estimate and make available to the public the 
        water and energy savings attributable to the use of WaterSense 
        labeled products, buildings and landscapes, and services, at 
        least annually;
            (9) solicit comments from interested parties and the public 
        prior to establishing or revising a WaterSense category, 
        specification, installation criterion, or other criterion (or 
        prior to effective dates for any such category, specification, 
        installation criterion, or other criterion);
            (10) provide reasonable notice to interested parties and 
        the public of any changes (including effective dates), on the 
        adoption of a new or revised category, specification, 
        installation criterion, or other criterion, along with--
                    (A) an explanation of changes; and
                    (B) as appropriate, responses to comments submitted 
                by interested parties;
            (11) provide appropriate lead time (as determined by the 
        Administrator) prior to the applicable effective date for a new 
        or significant revision to a category, specification, 
        installation criterion, or other criterion, taking into account 
        the timing requirements of the manufacturing, marketing, 
        training, and distribution process for the specific product, 
        building and landscape, or service category addressed; and
            (12) identify and, where appropriate, implement other 
        voluntary approaches, such as labeling waterless devices that 
        perform the same function as a water consuming product or 
        encouraging reuse, reclamation, and recycling technologies, in 
        commercial, institutional, residential, municipal, and 
        industrial sectors to improve water efficiency or lower water 
        use while meeting the performance standards established under 
        paragraph (3).
    (c) Authorization of Appropriations.--There are authorized to be 
appropriated $7,500,000 for fiscal year 2010, $10,000,000 for fiscal 
year 2011, $20,000,000 for fiscal year 2012, and $50,000,000 for fiscal 
year 2013 and each year thereafter, adjusted for inflation, to carry 
out this section.

SEC. 3. FEDERAL PROCUREMENT OF WATER EFFICIENT PRODUCTS.

    (a) Definitions.--In this section:
            (1) Agency.--The term ``agency'' has the meaning given that 
        term in section 7902(a) of title 5, United States Code.
            (2) Watersense product or service.--The term ``WaterSense 
        product or service'' means a product or service that is rated 
        for water efficiency under the WaterSense program.
            (3) Watersense program.--The term ``WaterSense program'' 
        means the program established by section 2 of this Act.
            (4) FEMP designated product.--The term ``FEMP designated 
        product'' means a product that is designated under the Federal 
        Energy Management Program of the Department of Energy as being 
        among the highest 25 percent of equivalent products for 
        efficiency.
            (5) Product and service.--The terms ``product'' and 
        ``service'' do not include any water consuming product or 
        service designed or procured for combat or combat-related 
        missions. The terms also exclude products or services already 
        covered by the Federal procurement regulations established 
        under section 553 of the National Energy Conservation Policy 
        Act (42 U.S.C. 8259b).
    (b) Procurement of Water Efficient Products.--
            (1) Requirement.--To meet the requirements of an agency for 
        a water consuming product or service, the head of the agency 
        shall, except as provided in paragraph (2), procure--
                    (A) a WaterSense product or service; or
                    (B) a FEMP designated product.
        A WaterSense plumbing product should preferably, when possible, 
        be installed by a WaterSense-certified or, if WaterSense 
        certification guidelines do not exist, licensed plumber or 
        mechanical contractor, and a WaterSense irrigation system 
        should preferably, when possible, be installed, maintained, and 
        audited by a WaterSense-certified irrigation professional to 
        ensure optimal performance.
            (2) Exceptions.--The head of an agency is not required to 
        procure a WaterSense product or service or FEMP designated 
        product under paragraph (1) if the head of the agency finds in 
        writing that--
                    (A) a WaterSense product or service or FEMP 
                designated product is not cost-effective over the life 
                of the product, taking current and future energy, 
                water, and wastewater cost savings into account; or
                    (B) no WaterSense product or service or FEMP 
                designated product is reasonably available that meets 
                the functional requirements of the agency.
            (3) Procurement planning.--The head of an agency shall 
        incorporate into the specifications for all procurements 
        involving water consuming products and systems, including guide 
        specifications, project specifications, and construction, 
        renovation, and services contracts that include provision of 
        water consuming products and systems, and into the factors for 
        the evaluation of offers received for the procurement, criteria 
        used for rating WaterSense products and services and FEMP 
        designated products. The head of an agency shall consider, to 
        the maximum extent practicable, additional measures for 
        reducing agency water consumption, including water reuse, 
        reclamation, and recycling technologies, leak detection and 
        repair, and use of waterless products that perform similar 
        functions to existing water-consuming products.
    (c) Listing of Water Efficient Products in Federal Catalogs.--
WaterSense products and services and FEMP designated products shall be 
clearly identified and prominently displayed in any inventory or 
listing of products by the General Services Administration or the 
Defense Logistics Agency. The General Services Administration and the 
Defense Logistics Agency shall supply only WaterSense products or FEMP 
designated products for all product categories covered by the 
WaterSense program or the Federal Energy Management Program, except in 
cases where the agency ordering a product specifies in writing that no 
WaterSense product or FEMP designated product is available to meet the 
buyer's functional requirements, or that no WaterSense product or FEMP 
designated product is cost-effective for the intended application over 
the life of the product, taking energy, water, and wastewater cost 
savings into account.
    (d) Regulations.--Not later than 180 days after the date of 
enactment of this Act, the Administrator of the Environmental 
Protection Agency shall issue regulations to carry out this section.

SEC. 4. EARLY ADOPTER WATER EFFICIENT PRODUCTS INCENTIVE PROGRAMS.

    (a) Definitions.--In this section:
            (1) Administrator.--The term ``Administrator'' means the 
        Administrator of the Environmental Protection Agency.
            (2) Eligible entity.--The term ``eligible entity'' means a 
        State government, local or county government, tribal 
        government, wastewater or sewage utility, municipal water 
        authority, energy utility, water utility, or nonprofit 
        organization that meets the requirements of subsection (b).
            (3) Incentive program.--The term ``incentive program'' 
        means a program for administering financial incentives for 
        consumer purchase and installation of residential water 
        efficient products and services as described in subsection 
        (b)(1).
            (4) Residential water efficient product or service.--The 
        term ``residential water efficient product or service'' means a 
        product or service for a single-family or multifamily residence 
        or its landscape that is rated for water efficiency and 
        performance--
                    (A) by the WaterSense program; or
                    (B) by an incentive program and approved by the 
                Administrator.
        Categories of water efficient products and services may include 
        faucets, irrigation technologies and services, point-of-use 
        water treatment devices, reuse, reclamation, and recycling 
        technologies, toilets, and showerheads.
            (5) Watersense program.--The term ``WaterSense program'' 
        means the program established by section 2 of this Act.
    (b) Eligible Entities.--An entity shall be eligible to receive an 
allocation under subsection (c) if the entity--
            (1) establishes (or has established) an incentive program 
        to provide rebates, vouchers, other financial incentives, or 
        direct installs to consumers for the purchase and installation 
        of residential water efficient products or services;
            (2) submits an application for the allocation at such time, 
        in such form, and containing such information as the 
        Administrator may require; and
            (3) provides assurances satisfactory to the Administrator 
        that the entity will use the allocation to supplement, but not 
        supplant, funds made available to carry out the incentive 
        program.
    (c) Amount of Allocations.--
            (1) In general.--Subject to paragraph (2), for each fiscal 
        year, the Administrator shall determine the amount to allocate 
        to each eligible entity to carry out subsection (d) taking into 
        consideration--
                    (A) the population served by the eligible entity in 
                the most recent calendar year for which data are 
                available;
                    (B) the targeted population of the eligible 
                entity's incentive program, such as general households, 
                low-income households, or first-time homeowners, and 
                the probable effectiveness of the incentive program for 
                that population;
                    (C) for existing programs, the effectiveness of the 
                incentive program in encouraging the adoption of water 
                efficient products and services; and
                    (D) any prior year's allocation to the eligible 
                entity that remains unused.
    (d) Use of Allocated Funds.--Funds allocated to an entity under 
subsection (c) may be used to pay up to 50 percent of the cost of 
establishing and carrying out an incentive program.
    (e) Fixture Recycling.--Entities are encouraged to promote or 
implement fixture recycling programs to manage the disposal of older 
fixtures replaced due to the incentive program under this section.
    (f) Issuance of Rebates.--Financial incentives may be provided to 
consumers that meet the requirements of the incentive program. The 
entity may issue all financial incentives directly to consumers or, 
with approval of the Administrator, delegate some or all financial 
incentive administration to other organizations including, but not 
limited to, local governments, municipal water authorities, and water 
utilities. The amount of a financial incentive shall be determined by 
the entity, taking into consideration--
            (1) the amount of the allocation to the entity under 
        subsection (c);
            (2) the amount of any Federal, State, or other 
        organization's tax or financial incentive available for the 
        purchase of the residential water efficient product or service;
            (3) the amount necessary to change consumer behavior to 
        purchase water efficient products and services; and
            (4) the consumer expenditures for onsite preparation, 
        assembly, and original installation of the product.
    (g) Authorization of Appropriations.--There are authorized to be 
appropriated to the Administrator to carry out this section $50,000,000 
for fiscal year 2010, $100,000,000 for fiscal year 2011, $150,000,000 
for fiscal year 2012, $100,000,000 for fiscal year 2013, and 
$50,000,000 for fiscal year 2014.
answer:
Water Advanced Technologies for Efficient Resource Use Act of 2009 - Establishes within the Environmental Protection Agency (EPA) a WaterSense program to identify and promote water efficient products, buildings and landscapes, and services to reduce water use, conserve energy, and preserve water resources. Sets forth the duties of the EPA Administrator for promoting, publicizing, and administering the WaterSense program.

Requires federal agencies to purchase WaterSense products or services or a Federal Energy Management Program designated product through their procurement process.

Establishes a program to provide financial incentives for consumer purchase and installation of residential water efficient products and services.


question:
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Child Support Security Act''.

SEC. 2. NO EFFECT ON RIGHTS AND LIABILITIES.

    Nothing in this Act shall be construed to affect--
            (1) the right of an individual or State to receive any 
        child support payment; or
            (2) the obligation of an individual to pay child support.

SEC. 3. INCLUSION IN INCOME OF AMOUNT OF UNPAID CHILD SUPPORT PAYMENTS.

    (a) In General.--Section 108 of the Internal Revenue Code of 1986 
(relating to discharge of indebtedness income) is amended by adding at 
the end thereof the following new subsection:
    ``(h) Unpaid Child Support Payments.--
            ``(1) In general.--For purposes of this chapter, any 
        taxable unpaid child support payments of a taxpayer for any 
        taxable year shall be treated as amounts includible in gross 
        income of the taxpayer for the taxable year by reason of the 
        discharge of indebtedness of the taxpayer.
            ``(2) Taxable unpaid child support payments.--For purposes 
        of this subsection, the term `taxable unpaid child support 
        payments' means payments--
                    ``(A) which were applicable child support payments 
                which the taxpayer was required to pay under a support 
                instrument for the support of a child of the taxpayer, 
                and
                    ``(B) with respect to which the notice requirements 
                of paragraph (3) are met.
            ``(3) Notice requirements.--
                    ``(A) In general.--During January of the second 
                calendar year following a calendar year in which there 
                begins a taxable year for which a deduction allowed 
                under section 166(f) was claimed, the eligible taxpayer 
                shall send a notice (in such form as the Secretary may 
                prescribe) to the individual who failed to make 
                payments which contains--
                            ``(i) the amount of the applicable child 
                        support payments for such taxable year, and
                            ``(ii) notice that the individual is 
                        required to include such amount in gross income 
                        for the taxable year beginning in the preceding 
                        calendar year.
                    ``(B) Notice by secretary.--If notice cannot be 
                provided under subparagraph (A) because the address is 
                not known to the eligible taxpayer, the Secretary shall 
                send such notice if the address is available to the 
                Secretary.
                    ``(C) Address unknown.--If notice cannot be 
                provided under subparagraph (A) or (B) because there is 
                no known address, no income shall be included in gross 
                income for any taxable year beginning before the 
                calendar year preceding the calendar year in which such 
                notice may be sent.
            ``(4) Subsequent payments.--If any payment required to be 
        included in gross income under paragraph (1) is subsequently 
        made, the amount of such payment shall be allowed as a 
        deduction for the taxable year in which such payment is made.
            ``(5) Definitions.--For purposes of this subsection, the 
        terms `applicable child support payments' and `eligible 
        taxpayer' have the meanings given such terms by section 
        166(f).''
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1997.

SEC. 4. ALLOWANCE OF BAD DEBT DEDUCTION FOR UNPAID CHILD SUPPORT 
              PAYMENTS.

    (a) In General.--Section 166 of the Internal Revenue Code of 1986 
(relating to deduction for bad debts) is amended by redesignating 
subsection (f) as subsection (g) and by inserting after subsection (e) 
the following new subsection:
    ``(f) Unpaid Child Support Payments.--
            ``(1) In general.--In the case of any eligible taxpayer who 
        has any applicable child support payments remaining unpaid as 
        of the close of the taxable year--
                    ``(A) subsections (a) and (d) shall not apply to 
                such payments, and
                    ``(B) there shall be allowed as a deduction for 
                such taxable year an amount equal to the amount of such 
                payments.
            ``(2) Per child limitation on deduction.--The aggregate 
        amount allowable as a deduction for any taxable year under 
        paragraph (1) with respect to any child for whom applicable 
        child support payments are required to be paid shall not exceed 
        $5,000.
            ``(3) Eligible taxpayer.--For purposes of this subsection, 
        the term `eligible taxpayer' means an individual--
                    ``(A) whose adjusted gross income for the taxable 
                year does not exceed $50,000,
                    ``(B) with respect to whom the amount of applicable 
                child support payments remaining unpaid as of the close 
                of the taxable year is equal to or greater than $500, 
                and
                    ``(C) who meets the identification requirements of 
                paragraph (5).
            ``(4) Applicable child support payment.--
                    ``(A) In general.--The term `applicable child 
                support payment' means, with respect to any taxable 
                year of the eligible taxpayer--
                            ``(i) any periodic payment of a fixed 
                        amount, or
                            ``(ii) any payment of a medical or 
                        educational expense, insurance premium, or 
                        other similar item,
                which is required to be paid to such taxpayer during 
                such taxable year by an individual under a support 
                instrument meeting the requirements of paragraph (8) 
                for the support of any qualifying child of such 
                individual.
                    ``(B) Qualifying child.--For purposes of this 
                paragraph, the term `qualifying child' means a child of 
                an eligible individual with respect to whom a deduction 
                is allowable under section 151 for the taxable year (or 
                would be so allowable but for paragraph (2) or (4) of 
                section 152(e)).
                    ``(C) Payments must be delinquent for at least 
                entire year.--Any payment described in subparagraph (A) 
                which is required to be made by an individual to an 
                eligible taxpayer shall not be treated as an applicable 
                unpaid child support payment if at least half of the 
                payments which are required to be paid to the eligible 
                taxpayer during the 12-month period ending on the last 
                day of the taxable year are paid. In the case of the 
                1st taxable year to which this subsection applies to 
                payments from any individual, the preceding sentence 
                shall be applied by substituting `24-month' for `12-
                month'.
                    ``(D) Coordination with afdc.--The term `applicable 
                child support payment' shall not include any payment 
                the right to which has been assigned to a State under 
                section 402(a)(26) of the Social Security Act (42 
                U.S.C. 602(a)(26)).
            ``(5) Identification requirements.--The requirements of 
        this paragraph are met if the eligible taxpayer includes on the 
        return claiming the deduction under this subsection the name, 
        address, and taxpayer identification number of--
                    ``(A) each child with respect to whom child support 
                payments to which this subsection applies are required 
                to be paid, and
                    ``(B) the individual who was required to make such 
                child support payments.
        In the case of a failure to provide the information under 
        subparagraph (B), the preceding sentence shall not apply if the 
        eligible taxpayer certifies that any such information is not 
        known.
            ``(6) Cost-of-living adjustments.--In the case of any 
        taxable year beginning after 1998, the $50,000 amount under 
        paragraph (2)(A), the $50,000 amount under paragraph (3)(A), 
        and the $500 amount under paragraph (3)(B) shall each be 
        increased by an amount equal to--
                    ``(A) such dollar amount, multiplied by
                    ``(B) the cost-of-living adjustment determined 
                under section 1(f)(3) for the calendar year in which 
                the taxable year begins, except that section 1(f)(3)(B) 
                shall be applied by substituting `1997' for `1992'.
            ``(7) Subsequent payments.--If any payment with respect to 
        which a deduction was allowed under paragraph (1) is 
        subsequently made, such payment shall be included in gross 
        income of the eligible taxpayer for the taxable year in which 
        paid. This paragraph shall not apply to any amount if an 
        individual has assigned the right to receive such amount to a 
        State (and the State does not pay such amount to such 
        individual).
            ``(8) Support instrument.--For purposes of this subsection, 
        a support instrument meets the requirements of this paragraph 
        if it is--
                    ``(A) a decree of divorce or separate maintenance 
                or a written instrument incident to such a decree,
                    ``(B) a written separation agreement, or
                    ``(C) a decree (not described in subparagraph (A)) 
                of a court or administrative agency requiring a parent 
                to make payments for the support or maintenance of 1 or 
                more children of such parent.''
    (b) Deduction for Nonitemizers.--Section 62(a) of such Code is 
amended by inserting after paragraph (16) the following new paragraph:
            ``(17) Unpaid child support payments.--The deduction 
        allowed by section 166(f).''
    (c) Conforming Amendment.--Section 166(d)(2) of such Code is 
amended by striking ``or'' at the end of subparagraph (A), by striking 
the period at the end of subparagraph (B) and inserting ``, or'' and by 
adding at the end thereof the following new subparagraph:
                    ``(C) a debt which is an applicable child support 
                payment under subsection (f).''
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1997.

SEC. 5. REDUCTION OF FEDERAL DEBT.

    Net revenues received in the Treasury pursuant to this Act shall be 
applied, as provided in appropriation Acts, solely to the retirement of 
outstanding public debt obligations of the United States and may not be 
obligated or expended for any other purpose, notwithstanding any other 
provision of law that does not specifically refer to this section.
answer:
Child Support Security Act - Amends the Internal Revenue Code relating to discharge of indebtedness income to provide that any taxable unpaid child support payments of a taxpayer for any taxable year shall be treated as amounts includible in the taxpayer's gross income by reason of the discharge of the taxpayer's indebtedness.  Sets forth notice guidelines. 
Allows an eligible taxpayer with respect to whom child support payments remain unpaid during the taxable year a deduction of up to $5,000 equal to the amount of payments remaining unpaid.  Limits such deductions to taxpayers with adjusted gross incomes under $50,000 and unpaid child support payments of $500 or more. 
Requires that net revenues received in the Treasury pursuant to this Act be applied solely to the retirement of outstanding Federal debt obligations and not be obligated or expended for any other purpose.


question:
That this Act may be 
cited as ``The Small Business Prepayment Penalty Relief Act of 1993''.

                                TITLE II

    Sec. 201. Buy-Downs and Interest Rate Reductions.--(a) Upon the 
request of the issuer, annually the Administration is authorized to 
buy-down the interest rate on any debenture purchased by the Federal 
Financing Bank (1) which has been issued by a development company 
pursuant to the provisions of section 503 of the Investment Act or (2) 
which has been issued by a small business investment company pursuant 
to the provisions of section 303 of such Act. The buy-down shall be 
limited to the current year only. As used in this section, the term 
``buy-down'' means a payment from the Administration to the Federal 
Financing Bank in an amount determined by the Administration to reduce 
the interest payment for that year to an amount equal to 7.5 per centum 
of the outstanding principal amount of the debenture.
    (b) Upon the request of the issuer, annually the Administration is 
authorized to reduce the interest rate on any debenture issued by a 
small business investment company licensed pursuant to the provisions 
of section 301(d) of the Investment Act. The reduction shall be limited 
to the current year only. The amount of the reduction shall be an 
amount determined by the Administration to make the interest payment 
for that year equal to 7.5 per centum of the outstanding principal 
amount of the debenture, less the amount of any other reductions or 
credits otherwise provided by law.

                               TITLE III

    Sec. 301. Prepayments.--(a) Annually, after the regular 
Appropriations Act has been signed into law providing funding for the 
Administration, the Administration shall calculate the amount needed to 
carry out the provisions of section 201 of this Act. If it determines 
that it has sufficient funding to fully carry out the buy-downs and 
reductions authorized by such section, it shall obtain from the Federal 
Financing Bank a computation of the amount of the prepayment penalty 
which would be required from the issuer of each such debenture if it 
was prepaid as of the end of the current fiscal year. The 
Administration shall also compute the amount of the prepayment penalty 
on 301(d) debentures as if such debentures had been sold to the Federal 
Financing Bank.
    (b) After making the above determinations, the Administration shall 
promptly notify the issuer of each debenture subject to the provisions 
of section 201 of this Act that it will receive offers from any 
interested issuer to prepay the debenture in full. The issuer shall 
include in any offer amount of the full prepayment penalty, or assumed 
prepayment penalty in the case of a debenture from a 301(d) issuer, 
less any amount proposed by the issuer to be paid by the Administration 
pursuant to the provisions of this title. The notification to the 
issuer shall include such information as the Administration determines 
to be appropriate, but shall include--
            (1) the amount of funds available to carry out this title;
            (2) a computation of the total amount of the prepayment 
        penalties and assumed prepayment penalties if all issuers 
        prepaid;
            (3) the amount of the prepayment penalty or assumed 
        prepayment penalty for the issuer receiving the notification;
            (4) the time period during which the Administration will 
        accept offers; and
            (5) a description of the process under which the 
        Administration will evaluate, give priority to, and accept 
        submission of offers pursuant to this title.
    (c) Within 30 days after termination of the period for submission 
of offers, the Administration shall evaluate each offer and shall 
assign each a priority. The priority shall be based upon the per centum 
of the prepayment penalty which the issuer offers to pay, with the 
highest per centum receiving the highest priority. The Administration 
shall approve offers beginning with the one with the highest priority 
and continuing until it utilizes all funds available to carry out this 
title in the current fiscal year.
    Sec. 302. Prepaying Development Company Debentures.--(a) For 
purposes of this section, the term ``issuer'' means the issuer of a 
debenture which has been purchased by the Federal Financing Bank 
pursuant to section 503 of the Investment Act, and the term 
``borrower'' means the small business concern whose loan secures a 
debenture issued pursuant to such section.
    (b) The issuer of a debenture purchased by the Federal Financing 
Bank and guaranteed by the Small Business Administration under section 
503 of the Investment Act may offer to prepay such debenture pursuant 
to section 301 of this Act: Provided, That--
            (1) the debenture is outstanding on the date of enactment 
        of this Act, and neither the loan that secures the debenture 
        nor the debenture is in default on the date the prepayment is 
        made;
            (2) State or personal funds, which may include refinancing 
        under the programs authorized by sections 504 and 505 of the 
        Investment Act are used to prepay the debenture; and
            (3) the issuer certifies that the benefits, net of fees and 
        expenses authorized herein, associated with prepayment of the 
        debenture are entirely passed through to the borrower.
    (c) No fees or penalties other than those specified in this section 
may be imposed as a condition of such prepayment against the issuer or 
the borrower, or the Administration or any fund or account administered 
by the Administration, except as provided in this Act. If the debenture 
is prepaid or refinanced other than through section 504, the issuer may 
require the borrower or pay a fee to the issuer in an amount equal to 
one-half of one percent of the unpaid principal balance of the 
debenture. If a debenture is refinanced with a guarantee pursuant to 
section 504, the issuer may require the borrower to pay a fee to the 
issuer in an amount equal to one-fourth of one percent of the unpaid 
balance of the debenture.
    (d) Debentures refinanced under section 504 shall be subject to all 
of the other provisions of sections 504 and 505 of the Investment Act 
and the rules and regulations of the Administration promulgated 
thereunder, including, but not limited to, payment of authorized 
expenses and commissions, fees and discounts to brokers and dealers in 
trust certificates issued pursuant to section 505: Provided however, 
That the issuer shall be deemed to have waived any origination fee on 
the new debenture to which it otherwise would have been entitled.
    Sec. 303. Prepaying Specialized Small Business Investment Company 
Debentures.--(a) Any specialized small business investment company 
which is the issuer of a debenture purchased by the Administration 
under title III of the Investment Act may offer to prepay the debenture 
pursuant to the provisions of section 301 of this Act: Provided, That--
            (1) the debenture is outstanding on the date of enactment 
        of this Act and is not in default on the date the prepayment is 
        made; and
            (2) personal funds, which may include refinancing with 
        proceeds of debentures under title III of the Investment Act, 
        are used to prepay the debenture, except that if new guaranteed 
        debenture proceeds are utilized, the length of time of the 
        interest rate reduction authorized by such title shall be 
        reduced by the length of time the issuer received an interest 
        rate reduction on the debenture being prepaid.
    (b) No fees or penalties other than those specified in this section 
may be imposed as a condition of such prepayment against the issuer, 
the Administration or any fund or account administered by the 
Administration, except as expressly provided herein.
    Sec. 304. Prepaying Regular Small Business Investment Company 
Debentures.--(a) Any small business investment company which is the 
issuer of a debenture guaranteed by the Administration under title III 
of the Investment Act and purchased by the Federal Financing Bank may 
offer to prepay the debenture pursuant to section 301 of this Act: 
Provided, That--
            (1) the debenture is outstanding on the date of enactment 
        of this Act and is not in default on the date the prepayment is 
        made; and
            (2) personal funds, which may include refinancing with 
        proceeds of guaranteed debentures under title III of the 
        Investment Act, are used to prepay the debenture.
    (b) No fees or penalties other than those specified in this section 
may be imposed as a condition of such prepayment against the issuer, 
the Administration or any fund or account administered by the 
Administration, except as expressly provided herein.
    (c) Debentures refinanced under title III of the Investment Act 
shall be subject to all of the other provisions of such Act, including, 
but not limited to, payment of authorized expenses and commissions, 
fees or discounts to brokers and dealers in trust certificates issued 
pursuant to section 321.

                                TITLE IV

    Sec. 401. Miscellaneous Provisions.--(a) The provisions of this Act 
are exercisable at the option of the borrower under section 302 of this 
Act or at the option of a small business investment company under 
sections 303 and 304 of this Act and are in addition to any prepayment 
options otherwise authorized by law.
    (b) Within sixty days of the date of enactment of this Act, the 
Small Business Administration shall issue regulations to implement this 
Act.
    (c) Any new credit or spending authority provided for in this Act 
is subject to amounts provided for in advance in appropriations acts.
    Sec. 402. Authorization.--(a) There are authorized to be 
appropriated such sums as may be necessary to carry out the provisions 
of this Act.
    (b) In the administration of this Act, the Administration shall not 
obligate any funds pursuant to title III of this Act in any fiscal year 
unless it has provided the full amount of assistance authorized and 
requested pursuant to title II of this Act.
    (c) If sufficient funds are not appropriated for any fiscal year to 
fully carry out the buy-downs and reductions authorized and requested 
pursuant to title II of this Act, the Administration shall buy-down and 
reduce the interest rates to the extent that funds are available for 
that year, but may not utilize any funds to carry out title III.
    Sec. 403. As used in this Act--
            (a) the term ``Administration'' means the Small Business 
        Administration; and
            (b) the term ``Investment Act'' means the Small Business 
        Investment Act of 1958.
answer:

Small Business Prepayment Penalty Relief Act of 1993 - 
Title II (sic)
 - Authorizes the Small Business Administration (SBA), upon the request of the issuer, to annually buy-down the interest rate on any debenture purchased by the Federal Financing Bank which has been issued by a development company or a small business investment company (SBIC) pursuant to appropriate provisions of the Small Business Investment Act of 1958.  Allows such buy-down to reduce such interest rate to 7.5 percent annually. 
Title III
 - Directs the SBA, after the appropriations Act for each year has been enacted, to calculate the amount needed to carry out the buy-downs authorized in title II.  Allows the SBA, after such determination, to notify the debenture issuers that it will receive offers from any interested issuer to prepay the debenture in full. Requires a prioritization of such offers based on the amount of prepayment penalty an issuer offers to pay.  Prohibits the imposition against the issuer, the borrower, or the SBA of fees or penalties (with exceptions) as a condition of such prepayment. 
Allows regular and specialized SBICs which are the issuer of a debenture purchased by the SBA under such Act to offer to prepay the debenture under prior provisions of this Act, subject to specified conditions, and with the same prohibition against the imposition of fees or penalties for such prepayment. 
Title IV
 - Authorizes appropriations.