Page:United States Statutes at Large Volume 114 Part 4.djvu/833

 PUBLIC LAW 106-553—APPENDIX B 114 STAT. 2762A-133 (2) GUARANTEE LEVEL.— ^A loan guarantee issued under this Act may not exceed an amount equal to 80 percent of a loan meeting in its entirety the requirements of subsection (d)(2)(A). If only a portion of a loan meets the requirements of that subsection, the Board shall determine that percentage of the loan meeting such requirements (the "applicable portion") and may issue a loan guarantee in an amount not exceeding 80 percent of the applicable portion. (g) UNDERWRITING CRITERIA. —Within the period provided for under subsection (b)(1), the Board shall, in consultation with the Director of the Office of Management and Budget and an independent public accounting firm, develop underwriting criteria relating to the guarantee of loans that are consistent with the purpose of this Act, including appropriate collateral and cash flow levels for loans guaranteed under this Act, and such other matters as the Board considers appropriate, (h) CREDIT RISK PREMIUMS. — (1) ESTABLISHMENT AND ACCEPTANCE.— (A) IN GENERAL. — The Board may establish and approve the acceptance of credit risk premiums with respect to a loan guarantee under this Act in order to cover the cost, as defined in section 502(5) of the Federal Credit Reform Act of 1990, of the loan guarantee. To the extent that appropriations of budget authority are insufficient to cover the cost, as so determined, of a loan guarantee under this Act, credit risk premiums shall be accepted from a non-Federal source under this subsection on behalf of the applicant for the loan guarantee. (B) AUTHORITY LIMITED BY APPROPRIATIONS ACTS.— Credit risk premiums under this subsection shall be imposed only to the extent provided for in advance in appropriations Acts. (2) CREDIT RISK PREMIUM AMOUNT.— (A) IN GENERAL. —The Board shall determine the amount of any credit risk premium to be accepted with respect to a loan guarantee under this Act on the basis of— (i) the financial and economic circumstances of the applicant for the loan guarantee, including the amount of collateral offered; (ii) the proposed schedule of loan disbursements; (iii) the business plans of the applicant for providing service; (iv) any financial commitment from a broadcast signal provider; and (v) the concurrence of the Director of the Office of Management and Budget as to the amount of the credit risk pr^-mium. (B) PROPORTION.\LITY.— To the extent that appropriations of budget authority are sufficient to cover the cost, as determined under section 502(5) of the Federal Credit Reform Act of 1990, of loan guarantees under this Act, the credit risk premium with respect to each loan guarantee shall be reduced proportionately. (C) PAYMENT OF PREMIUMS.— Credit risk premiums under this subsection shall be paid to an account (the "Escrow Account") established in the Treasury which shall

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