Page:United States Statutes at Large Volume 100 Part 1.djvu/402

 100 STAT. 366 Infra; post, P- 367.

PUBLIC LAW 99-272—APR. 7, 1986 implement sections 504 and 505 of the Small Business Investment

Act.

(c) CLERICAL AMENDMENT.—The table of sections for title III of such Act is amended by adding at the end thereof the following new item: "Sec. 321. Issuance and guarantee of trust certificates.". SEC. 18006. TERMINATION OF AUTHORITY TO MAKE CERTAIN DISASTER ASSISTANCE LOANS.

(a) IN GENERAL.—The Small Business Act is amended— 15 USC 636. (1) in section (7)(b)— (A) by striking out "The" after "(b)" and inserting in lieu Agriculture and thereof "Except as to agricultural enterprises as defined in agricultural section 18(b)(1) of this Act, the,"; commodities. (gj ^^ Striking out the semicolon at the end of paragraph (2) and inserting in lieu thereof a period; and (C) by striking out paragraphs (3) and (4); (2) in section 7(c)(4) by striking out the last, undesignated paragraph; and 15 USC 647. (3) in section 18(a) by striking out all that follows "Federal Government," through "Consolidated Farm and Rural Development Act". 15 USC 636 note. O> PIPELINE LoANS OR PREVIOUS DISASTERS.—Notwithstanding the t) amendments made by this section, sections 18002 and 18016, or any other provision of law, the Small Business Administration shall continue to accept, process, and approve loan applications under paragraphs (1) through (4) of subsection 7(b) of the Small Business Act and shall obligate and disburse loan funds on account of disasters declared before October 1, 1985, even if any such application is filed after the date of the enactment of this Act. 15 USC 636.

15 USC 697a.

15 USC 697.

SEC. 18007. GUARANTEE FEE. Section 7(a) of the Small Business Act is amended by adding at the end thereof the following new sentence: "(16) The Administration shall collect a guarantee fee equal to two percent of the amount of the deferred participation share of any loan under this subsection other than a loan repayable in one year or less or a loan under paragraph (13). The fee shall be payable by the participating lending institution and may be charged to the borrower.". SEC. 18008. PILOT PROGRAM INVOLVING SALE OF DEVELOPMENT COMPANY DEBENTURES. (a) PILOT PROGRAM.—Title V of the Small Business Investment Act of 1958 is amended by adding the following new section: "SEC. 504. (a) Notwithstanding any other law, rule, or regulation, the Administration shall conduct a pilot program involving the sale to investors, either publicly or by private placement, of debentures guaranteed pursuant to section 503 of the Small Business Investment Act of 1958 as follows— "(1) of the program levels otherwise authorized by law for fiscal year 1986, an amount not to exceed $200,000,000; and "(2) of the program levels otherwise authorized by law for fiscal year 1987, an amount not to exceed $295,000,000. "(b) Nothing in any provision of law shall be construed to authorize the Federal Financing Bank to acquire—

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