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12 U.S.C. § 4746 — Reports
Federal law — U.S. Code and appendices · legal_authorities
**(a) Reserve funds report** On or before the last day of each calendar quarter, a participating State shall submit to the Fund a report of contributions to reserve funds made by the participating State during the previous calendar quarter. If the participating State has made contributions to one or more reserve funds during the previous quarter, the report shall—
(1) indicate the total amount of such contributions;
(2) indicate the amount of contributions which is subject to reimbursement, which shall be equal to the total amount of contributions, unless one of the limitations contained in [section 4747 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4747&num=0&edition=prelim) is applicable;
(3) if one of the limitations in [section 4747 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4747&num=0&edition=prelim) is applicable, provide documentation of the applicability of such limitation for each loan for which the limitation applies; and
(4) include a certification by the participating State that—
(A) the information provided in accordance with paragraphs (1), (2), and (3) is accurate;
(B) funds in an amount meeting the minimum requirements of [section 4743(b)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4743/b/3&num=0&edition=prelim) continue to be available and legally committed to contributions by the State to reserve funds, less any amount that has been contributed by the State to reserve funds subsequent to the State being approved for participation in the Program;
(C) there has been no unapproved amendment to any participation agreement or the form of participation agreements; and
(D) the participating State is oth
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Source location: Title 12, Chapter 47, § 4746; chapter-047-community-development-banking.md
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**(a) Reserve funds report** On or before the last day of each calendar quarter, a participating State shall submit to the Fund a report of contributions to reserve funds made by the participating State during the previous calendar quarter. If the participating State has made contributions to one or more reserve funds during the previous quarter, the report shall—
(1) indicate the total amount of such contributions;
(2) indicate the amount of contributions which is subject to reimbursement, which shall be equal to the total amount of contributions, unless one of the limitations contained in [section 4747 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4747&num=0&edition=prelim) is applicable;
(3) if one of the limitations in [section 4747 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4747&num=0&edition=prelim) is applicable, provide documentation of the applicability of such limitation for each loan for which the limitation applies; and
(4) include a certification by the participating State that—
(A) the information provided in accordance with paragraphs (1), (2), and (3) is accurate;
(B) funds in an amount meeting the minimum requirements of [section 4743(b)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4743/b/3&num=0&edition=prelim) continue to be available and legally committed to contributions by the State to reserve funds, less any amount that has been contributed by the State to reserve funds subsequent to the State being approved for participation in the Program;
(C) there has been no unapproved amendment to any participation agreement or the form of participation agreements; and
(D) the participating State is otherwise implementing the Program in accordance with this subchapter and regulations issued pursuant to [section 4749 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4749&num=0&edition=prelim).
**(b) Annual data** Not later than March 31 of each year, each participating State shall submit to the Fund annual data indicating the number of borrowers financed under the Program, the total amount of covered loans, and breakdowns by industry type, loan size, annual sales, and number of employees of the borrowers financed.
**(c) Form** The reports and data filed pursuant to subsections (a) and (b) shall be in such form as the Fund may require.
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Federal law — U.S. Code and appendices · legal_authorities
The Fund shall promulgate appropriate regulations to implement this subchapter.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Reimbursements** Not later than 30 calendar days after receiving a report filed in compliance with [section 4746 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4746&num=0&edition=prelim), the Fund shall reimburse the participating State in an amount equal to 50 percent of the amount of contributions by the participating State to the reserve funds that are subject to reimbursement by the Fund pursuant to [section 4746 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4746&num=0&edition=prelim) and this section. The Fund shall reimburse participating States, as it receives reports pursuant to [section 4746(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4746/a&num=0&edition=prelim), until available funds are expended.
**(b) Size of assisted borrower** The Fund shall not provide any reimbursement to a participating State with respect to an enrolled loan made to a borrower that has 500 or more employees at the time that the loan is enrolled in the Program.
**(c) Three-year maximum** The amount of reimbursement to be provided by the Fund to a participating State over any 3-year period in connection with loans made to any single borrower or any group of borrowers among which a common enterprise exists shall not exceed $75,000. For purposes of this subsection, “common enterprise” shall have the same meaning as in part 32 of title 12 of the Code of Federal Regulations, or any successor to that part.
**(d) Loans totaling less than $2,000,000** In connection with a loan in which the covered amount of the loan plus the covered amount of all previous loans enrolled by a participating financial institution does not exceed $2,000,000, the amount
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Federal law — U.S. Code and appendices · legal_authorities
Page 1759
TITLE 12—BANKS AND BANKING
§ 4747
authorized by this subsection is resulting in
the enrollment of loans under the Program
that are likely to have been made without as-
sistance provided under this subchapter, the
Fund may notify the participating State that
henceforth, the Fund will only make reim-
bursements to the State under section 4747 of
this title with respect to a loan if the partici-
pation agreement between the participating
State and each participating financial institu-
tion has been amended to conform with this
section, without exercise of the special au-
thority granted by this subsection.
(Pub. L. 103–325, title II, § 255, Sept. 23, 1994, 108
Stat. 2207.)
§ 4746. Reports
(a) Reserve funds report
On or before the last day of each calendar
quarter, a participating State shall submit to
the Fund a report of contributions to reserve
funds made by the participating State during
the previous calendar quarter. If the partici-
pating State has made contributions to one or
more reserve funds during the previous quarter,
the report shall—
(1) indicate the total amount of such con-
tributions;
(2) indicate the amount of contributions
which is subject to reimbursement, which
shall be equal to the total amount of contribu-
tions, unless one of the limitations contained
in section 4747 of this title is applicable;
(3) if one of the limitations in section 4747 of
this title is applicable, provide documentation
of the applicability of such limitation for each
loan for which the limitation applies; and
(4) include a certification by the partici-
pating State that—
(A) the information provided in accordance
with paragraphs (1), (2), and (3) is accurate;
(B) funds in an amount meeting the min-
imum requirements of section 4743(b)(3) of
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 4746
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