§ 5706. Reports

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 2010

   State Small Business Credit Initiative Act of 2010

   Pub. L. 111–240 title III § 3007 · 124 Stat. 2504

   Enacted · 12 U.S.C. § 5706

   Pub. L. 111–240, title III, § 3007, Sept. 27, 2010, 124 Stat. 2579

   Source evidence

   Code source credit
   Pub. L. 111–240, title III, § 3007, Sept. 27, 2010, 124 Stat. 2579

   Enacted provision · exact public law section
   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 participating 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 committed 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 Program; 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 originated under the approved State program or programs after the State program was approved as eligible for Federal contributions. (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. (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 requirement 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.

2. 2021

   American Rescue Plan Act of 2021

   Pub. L. 117–2 title III § 3301(a)(1)(E) · 135 Stat. 4

   Substituted · 12 U.S.C. § 5706(b)

   Pub. L. 117–2 substituted “March 31, 2022” for “March 31, 2011” in introductory provisions

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 117–2 substituted “March 31, 2022” for “March 31, 2011” in introductory provisions.

   Enacted provision · exact public law section
   (E) in section 3007(b), 12 USC 5706. by striking “March 31, 2011” and inserting “March 31, 2022”;

   Effective date note
   Amendment by Pub. L. 117–2 applicable with respect to funds appropriated under section 3301 of Pub. L. 117–2 and funds appropriated on and after Mar. 11, 2021, see section 3301(g) of Pub. L. 117–2, set out as a note under section 5701 of this title.

2 of 2 references resolved to an enrolled provision