Page:United States Statutes at Large Volume 123.djvu/172

 123STA T . 1 5 2 PUBLIC LA W 111 – 5 —FE B.1 7, 2 0 0 9Investm ent Ac t of1958( 15 U.S . C . 6 9 7 ( d) ( 2 )), co l lect no fee ( B ) a develo p ment compan y s h all, i n lie u ofthep r oc - essin g fee under section 12 0 .971(a)(1) of title 1 3, Code of F ederal R egulations (relating to fees paid b y borro w ers), or any successor thereto, collect no fee. (2) R EIMBURS EME NTFO R WA I V E D FEES. — (A) IN G ENERA L .— T othee x tent that the cost of such payments is offset by appropriations, the Administrator shall reimburse each development company that does not collect a processing fee pursuant to paragraph (1)(B). (B) AMOUNT.—The payment to a development company under subparagraph (A) shall be in an amount e q ual to 1.5 percent of the net debenture proceeds for which the development company does not collect a processing fee pursuant to paragraph (1)(B). (c) A P PLI C ATION OF FEE E LIMINATIONS.— (1) To the extent that amounts are made available to the Administrator for the purpose of fee eliminations or reduc- tions under subsection (a), the Administrator shall— (A) first use any amounts provided to eliminate or reduce fees paid by small business borrowers under clauses (i) through (iii) of paragraph (18)(A), to the maximum extent possible; and (B) then use any amounts provided to eliminate or reduce fees under paragraph (23)(A) paid by small business lenders with assets less than $ 1,000,000,000 as of the date of enactment; and (C) then use any remaining amounts appropriated under this title to reduce fees paid by small business lenders other than those with assets less than $1,000,000,000. (2) The Administrator shall eliminate fees under sub- sections (a) and (b) until the amount provided for such purposes, as applicable, under the heading ‘ ‘Business L oans P rogram Account ’ ’ under the heading ‘‘Small Business Administration’’ under this Act are expended. SEC. 502. ECONOMIC STIMULUS LENDING PROGRAM FOR SMALL BUSINESSES. (a) PURPOSE.—The purpose of this section is to permit the Small Business Administration to guarantee up to 90 percent of qualifying small business loans made by eligible lenders. (b) D EFINITIONS.—For purposes of this section (1) The term ‘‘Administrator’’ means the Administrator of the Small Business Administration. (2) The term ‘‘qualifying small business loan’’ means any loan to a small business concern pursuant to section 7(a) of the Small Business Act (15 U.S.C. 636) or title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 and following) except for such loans made under section 7(a)(31). (3) The term ‘‘small business concern’’ has the same meaning as provided by section 3 of the Small Business Act (15 U.S.C. 632). (c) Q UALIFIED BORROWERS.— (1) ALIENS UNLAWFULL Y PRESENT IN T H E UNITED STATES.— A loan guarantee may not be made under this section for a loan made to a concern if an individual who is an alien unlawfully present in the United States—