Page:United States Statutes at Large Volume 124.djvu/2596

 124 STAT. 2570 PUBLIC LAW 111–240—SEPT. 27, 2010 (D) under the circumstances described in section 3004(d), a municipality of a State of the United States to which the Secretary has given a special permission under section 3004(d). (11) STATE CAPITAL ACCESS PROGRAM.—The term ‘‘State capital access program’’ means a program of a State that— (A) uses public resources to promote private access to credit; and (B) meets the eligibility criteria in section 3005(c). (12) STATE OTHER CREDIT SUPPORT PROGRAM.—The term ‘‘State other credit support program’’— (A) means a program of a State that— (i) uses public resources to promote private access to credit; (ii) is not a State capital access program; and (iii) meets the eligibility criteria in section 3006(c); and (B) includes, collateral support programs, loan partici- pation programs, State-run venture capital fund programs, and credit guarantee programs. (13) STATE PROGRAM.—The term ‘‘State program’’ means a State capital access program or a State other credit support program. (14) SECRETARY.—The term ‘‘Secretary’’ means the Sec- retary of the Treasury. SEC. 3003. FEDERAL FUNDS ALLOCATED TO STATES. (a) PROGRAM ESTABLISHED; PURPOSE.—There is established the State Small Business Credit Initiative, to be administered by the Secretary. Under the Program, the Secretary shall allocate Federal funds to participating States and make the allocated funds available to the participating States as provided in this section for the uses described in this section. (b) ALLOCATION FORMULA.— (1) IN GENERAL.—Not later than 30 days after the date of enactment of this Act, the Secretary shall allocate Federal funds to participating States so that each State is eligible to receive an amount equal to the average of the respective amounts that the State— (A) would receive under the 2009 allocation, as deter- mined under paragraph (2); and (B) would receive under the 2010 allocation, as deter- mined under paragraph (3). (2) 2009 ALLOCATION FORMULA.— (A) IN GENERAL.—The Secretary shall determine the 2009 allocation by allocating Federal funds among the States in the proportion that each such State’s 2008 State employment decline bears to the aggregate of the 2008 State employment declines for all States. (B) MINIMUM ALLOCATION.—The Secretary shall adjust the allocations under subparagraph (A) for each State to the extent necessary to ensure that no State receives less than 0.9 percent of the Federal funds. (C) 2008 STATE EMPLOYMENT DECLINE DEFINED.—In this paragraph and with respect to a State, the term ‘‘2008 State employment decline’’ means the excess (if any) of— Adjustment. Determination. Deadline. 12 USC 5702.