124 STAT. 2580 PUBLIC LAW 111–240—SEPT. 27, 2010 (c) FORM.—The reports and data filed under subsections (a) and (b) shall be in such form as the Secretary, in the Secretary’s sole discretion, may require. (d) TERMINATION OF REPORTING REQUIREMENTS.—The require- ment to submit reports under subsections (a) and (b) shall terminate for a participating State with the submission of the completed reports due on the first March 31 to occur after 5 complete 12- month periods after the State is approved by the Secretary to be a participating State. SEC. 3008. REMEDIES FOR STATE PROGRAM TERMINATION OR FAIL- URES. (a) REMEDIES.— (1) IN GENERAL.—If any of the events listed in paragraph (2) occur, the Secretary, in the Secretary’s discretion, may— (A) reduce the amount of Federal funds allocated to the State under the Program; or (B) terminate any further transfers of allocated amounts that have not yet been transferred to the State. (2) CAUSAL EVENTS.—The events referred to in paragraph (1) are— (A) termination by a participating State of its participa- tion in the Program; (B) failure on the part of a participating State to submit complete reports under section 3007 on a timely basis; or (C) noncompliance by the State with the terms of the allocation agreement between the Secretary and the State. (b) DEALLOCATED AMOUNTS TO BE REALLOCATED.—If, after 13 months, any portion of the amount of Federal funds allocated to a participating State is deemed by the Secretary to be no longer allocated to the State after actions taken by the Secretary under subsection (a)(1), the Secretary shall reallocate that portion among the participating States, excluding the State whose allocated funds were deemed to be no longer allocated, as provided in section 3003(b). SEC. 3009. IMPLEMENTATION AND ADMINISTRATION. (a) GENERAL AUTHORITIES AND DUTIES.—The Secretary shall— (1) consult with the Administrator of the Small Business Administration and the appropriate Federal banking agencies on the administration of the Program; (2) establish minimum national standards for approved State programs; (3) provide technical assistance to States for starting State programs and generally disseminate best practices; (4) manage, administer, and perform necessary program integrity functions for the Program; and (5) ensure adequate oversight of the approved State pro- grams, including oversight of the cash flows, performance, and compliance of each approved State program. (b) APPROPRIATIONS.—There is hereby appropriated to the Sec- retary, out of funds in the Treasury not otherwise appropriated, $1,500,000,000 to carry out the Program, including to pay reason- able costs of administering the Program. Standards. Consultation. 12 USC 5708. Time period. 12 USC 5707.
