Page:United States Statutes at Large Volume 124.djvu/2574

 124 STAT. 2548 PUBLIC LAW 111–240—SEPT. 27, 2010 waive the requirement to obtain non-Federal funds under this clause for successive fiscal years. ‘‘(II) CONSIDERATIONS.—In determining whether to waive the requirement to obtain non- Federal funds under this clause, the Administrator shall consider— ‘‘(aa) the economic conditions affecting the intermediary; ‘‘(bb) the impact a waiver under this clause would have on the credibility of the microloan program under this subsection; ‘‘(cc) the demonstrated ability of the inter- mediary to raise non-Federal funds; and ‘‘(dd) the performance of the intermediary. ‘‘(III) LIMITATIONS.— ‘‘(aa) IN GENERAL.—The Administrator may not waive the requirement to obtain non- Federal funds under this clause if granting the waiver would undermine the credibility of the microloan program under this sub- section. ‘‘(bb) SUNSET.—The Administrator may not waive the requirement to obtain non-Fed- eral funds under this clause for fiscal year 2013 or any fiscal year thereafter.’’; and (2) in paragraph (4)(B)— (A) by striking ‘‘As a condition’’ and all that follows through ‘‘the Administration shall require’’ and inserting the following: ‘‘(i) IN GENERAL.—Subject to clause (ii), as a condi- tion of a grant made under subparagraph (A), the Administrator shall require’’; and (B) by adding at the end the following: ‘‘(ii) WAIVER OF NON-FEDERAL SHARE.— ‘‘(I) IN GENERAL.—Upon request by an inter- mediary, and in accordance with this clause, the Administrator may waive, in whole or in part, the requirement to obtain non-Federal funds under clause (i) for a fiscal year. The Administrator may waive the requirement to obtain non-Federal funds under this clause for successive fiscal years. ‘‘(II) CONSIDERATIONS.—In determining whether to waive the requirement to obtain non- Federal funds under this clause, the Administrator shall consider— ‘‘(aa) the economic conditions affecting the intermediary; ‘‘(bb) the impact a waiver under this clause would have on the credibility of the microloan program under this subsection; ‘‘(cc) the demonstrated ability of the inter- mediary to raise non-Federal funds; and ‘‘(dd) the performance of the intermediary. ‘‘(III) LIMITATIONS.— ‘‘(aa) IN GENERAL.—The Administrator may not waive the requirement to obtain non- Federal funds under this clause if granting