Page:United States Statutes at Large Volume 108 Part 4.djvu/246

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108 STAT. 2880 PUBLIC LAW 103-337—OCT. 5, 1994 encourage commercial firms to use ammunition manufacturing facilities pursuant to section 193. Under such program, the Secretary may guarantee the repayment of any login made to a commercial firm to fund, in whole or in part, the establishment of a commercial activity under this subtitle. "(b) ADVANCED BUDGET AUTHORITY.—Loan guarantees under this section may not be committed except to the extent that appropriations of budget authority to cover their costs are made in advance, as required by section 504 of the Federal Credit Reform Act of 1990 (2 U.S.C. 661c). "(c) PROGRAM ADMINISTRATION.— (l) The Secretary may enter into agreements with the Administrator of the Small Business Administration or the Administrator of the Farmers Home Administration, the Administrator of the Rural Development Administration, or the head of other appropriate agencies of the Department of Agriculture, under which such Administrators may, under this section— "(A) process applications for loan guarantees; "(B) guarantee repayment of loans; and "(C) provide any other services to the Secretary to administer the loan guarantee program. "(2) Each Administrator may guarantee loans under this section to commercial firms of any size, notwithstanding any limitations on the size of applicants imposed on other loan guarantee programs that the Administrator administers. "(3) To the extent practicable, each Administrator shall use the same procedures for processing loan guarantee applications under this section as the Administrator uses for processing loan guarantee applications under other loan guarantee programs that the Administrator administers. "(d) LOAN LIMITS.—The maximum amount of loan principal guaranteed during a fiscal year under this section may not exceed— "(1) $20,000,000, with respect to any single borrower; and "(2) $320,000,000 with respect to all borrowers. "(e) TRANSFER OF FUNDS.—The Secretary of the Army may transfer to an Administrator providing services under subsection (c), and the Administrator may accept, such funds as may be necessary to administer the loan guarantee program under this section. "(f) REPORTING REQUIREMENT. —Not later than July 1 of each year in which a guarantee issued under this section is in effect, the Secretary shall submit to the congressional defense committees a report specifying the amounts of loans guaranteed under this section during the preceding calendar year. No report is required after fiscal year 1997.". (c) AUTHORIZATION FOR USE OF EXISTING BUDGET AUTHORITY. — Of the funds appropriated for the Armament Retooling and Manufacturing Support Initiative by title III of Public Law 102-396 under the heading "PROCUREMENT OF AMMUNITION, ARMY " (106 Stat. 1887), up to $43,000,000 may be made available to cover the costs of loan guarantees issued under section 195 of the Armament Retooling and Manufacturing Support Act of 1992 (as added by subsection (b)(2)), in such amounts as provided in an appropriations Act enacted after the date of the enactment of this Act.