Page:United States Statutes at Large Volume 122.djvu/654

 12 2 STA T .63 1 PUBLIC LA W 11 0– 1 8 6 —FE B.1 4, 2008 (i)any in cre a s ein th e u se ofR eser v ists after S e p- te mb er 1 1 ,20 01 or (ii) any chan g einanypo l icy of the D epartment of Defense relating to Reservists after September 11, 2001 . (c) AP P RO PR IATEC O M MITTEE S O F CO NG RESS DEFINE D . —I n this section, the term ‘ ‘appropriate committees of Congress ’ ’ means— (1) the Committee on Arme d Services and the Committee on Small B usiness and E ntrepreneurship of the Senate; and (2) the Committee on Armed Services and the Committee on Small Business of the H ouse of Representatives. SEC.208 . IN C R E A SE DV E T ERAN P ARTICIPATI O N PRO G RA M . Section 7 (a) of the Small Business Act (1 5U .S.C. 63 6(a)) is amended by adding at the end the follo w ing

‘‘(32) IN C REASED V ETERAN PARTICIPATION PROGRAM.— ‘‘(A) DEFINITIONS.—In this paragraph— ‘‘(i) the term ‘cost’ has the meaning given that term in section 502 of the F ederal Credit Reform Act of1 9 90 (2 U.S.C. 661a); ‘‘(ii) the term ‘pilot program’ means the pilot pro- gram established under subparagraph (B); and ‘‘(iii) the term ‘veteran participation loan’ means a loan made under this subsection to a small business concern owned and controlled by veterans of the Armed Forces or members of the reserve components of the Armed Forces. ‘‘(B) ESTA BL IS H MENT.— T he Administrator shall estab- lish and carry out a pilot program under which the Administrator shall reduce the fees for veteran participa- tion loans. ‘‘(C) D U RATION.—The pilot program shall terminate at the end of the second full fiscal year after the date that the Administrator establishes the pilot program. ‘‘(D) M A X IMUM PARTICIPATION.—A veteran participation loan shall include the ma x imum participation levels by the Administrator permitted for loans made under this subsection. ‘‘(E) FEES.— ‘‘(i) IN GENERAL.—The fee on a veteran participa- tion loan shall be e q ual to 50 percent of the fee other- wise applicable to that loan under paragraph (1 8 ). ‘‘(ii) W AIVER.—The Administrator may waive clause (i) for a fiscal year if— ‘‘(I) for the fiscal year before that fiscal year, the annual estimated rate of default of veteran participation loans exceeds that of loans made under this subsection that are not veteran partici- pation loans; ‘‘(II) the cost to the Administration of ma k ing loans under this subsection is greater than z ero and such cost is directly attributable to the cost of making veteran participation loans; and ‘‘(III) no additional sources of revenue authority are available to reduce the cost of making loans under this subsection to zero.

�