124 STAT. 2579 PUBLIC LAW 111–240—SEPT. 27, 2010 (f) MINIMUM PROGRAM REQUIREMENTS FOR STATE OTHER CREDIT SUPPORT PROGRAMS.— (1) FUND TO PRESCRIBE.—The Secretary shall, by regulation or other guidance, prescribe Program requirements for approved State other credit support programs. (2) CONSIDERATIONS FOR FUND.—In prescribing minimum Program requirements for approved State other credit support programs, the Secretary shall take into consideration, to the extent the Secretary determines applicable and appropriate, the minimum Program requirements for approved State capital access programs in section 3005(e). SEC. 3007. REPORTS. (a) QUARTERLY USE-OF-FUNDS REPORT.— (1) IN GENERAL.—Not later than 30 days after the beginning of each calendar quarter, beginning after the first full calendar quarter to occur after the date the Secretary approves a State for participation, the participating State shall submit to the Secretary a report on the use of Federal funding by the partici- pating State during the previous calendar quarter. (2) REPORT CONTENTS.—Each report under this subsection shall— (A) indicate the total amount of Federal funding used by the participating State; and (B) include a certification by the participating State that— (i) the information provided in accordance with subparagraph (A) is accurate; (ii) funds continue to be available and legally com- mitted to contributions by the State to, or for the account of, approved State programs, less any amount that has been contributed by the State to, or for the account of, approved State programs subsequent to the State being approved for participation in the Pro- gram; and (iii) the participating State is implementing its approved State program or programs in accordance with this title and regulations issued under section 3010. (b) ANNUAL REPORT.—Not later than March 31 of each year, beginning March 31, 2011, each participating State shall submit to the Secretary an annual report that shall include the following information: (1) The number of borrowers that received new loans origi- nated under the approved State program or programs after the State program was approved as eligible for Federal con- tributions. (2) The total amount of such new loans. (3) Breakdowns by industry type, loan size, annual sales, and number of employees of the borrowers that received such new loans. (4) The zip code of each borrower that received such a new loan. (5) Such other data as the Secretary, in the Secretary’s sole discretion, may require to carry out the purposes of the Program. Effective date. 12 USC 5706. Regulations.
