Page:United States Statutes at Large Volume 111 Part 3.djvu/509

 PUBLIC LAW 105-135—DEC. 2, 1997 111 STAT. 2597 $650,000,000 may be in bonds approved pursuant to section 411(a)(3) of that Act. "(E) The Administration is authorized to make grants or enter cooperative agreements— "(i) for the Service Corps of Retired Executives program authorized by section 8(b)(1), $5,000,000; and "(ii) for activities of small business development centers pursuant to section 21(c)(3)(G), not to exceed $15,000,000, to remain available until expended. "(2) ADDITIONAL AUTHORIZATIONS. — "(A) There are authorized to be appropriated to the Administration for fiscal year 2000 such sums as may be necessary to carry out this Act, including administrative expenses and necessary loan capital for disaster loans pursuant to section 7(b), and to carry out the Small Business Investment Act of 1958, including salaries and expenses of the Administration. "(B) Notwithstanding subparagraph (A), for fiscal year 2000— "(i) no funds are authorized to be provided to carry out the loan program authorized by section 7(a)(21) except by transfer from another Federal department or agency to the Administration, unless the program level authorized for general business loans under paragraph (l)(B)(i) is fully funded; and "(ii) the Administration may not approve loans on behalf of the Administration or on behalf of any other department or agency, by contract or otherwise, under terms and conditions other than those specifically authorized under this Act or the Small Business Investment Act of 1958, except that it may approve loans under section 7(a)(21) of this Act in gross amounts of not more than $1,250,000.". TITLE II—FINANCIAL ASSISTANCE Subtitle A—Microloan Program SEC. 201. MICROLOAN PROGRAM. (a) LOAN LIMITS. —Section 7(m)(3)(C) of the Small Business Act (15 U.S.C. 636(m)(3)(C)) is amended by striking "$2,500,000 " and inserting "$3,500,000 ". (b) LOAN LOSS RESERVE FUND. — Section 7(m)(3)(D) of the Small Business Act (15 U.S.C. 636(m)(3)(D)) is amended by striking clauses (i) and (ii), and inserting the following: "(i) during the initial 5 years of the intermediary's participation in the program under this subsection, at a level equal to not more than 15 percent of the outstanding balance of the notes receivable owed to the intermediary; and "(ii) in each year of participation thereafter, at a level equal to not more than the greater of—

�