A bill to improve the calculation of the Federal subsidy rate with respect to certain small business loans, and for other purposes.
Public Law 108-8 · S. 141 · 108th Congress · began in the Senate
Signed by George W. Bush (R) on Feb 25, 2003 · Commerce
Sponsor: Sen. Olympia Snowe (R-ME)
Cosponsors (10): Sen. Kit Bond, Sen. John Kerry,
Passage votes
- HouseVoice vote
- SenateUnanimous consent
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Authorizes the Director of the Office of Management and Budget (OMB), in calculating the Federal cost for guaranteeing small business loans under the Small Business Act during FY 2003, to use the most recently approved subsidy cost model and methodology in conjunction with the program and economic assumptions, and historical data included in the FY 2003 budget. Requires the Small Business Administration, after written notification to Congress, to implement the validated, OMB-approved subsidy rate for FY 2003, using this model and methodology.
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Related bills
The record lists no related bills.
Data notes
Related bills are identified by the Congressional Research Service, the House and the Senate: companion and identical bills, bills with similar text, bills that were folded into this law, and rules that brought it to the floor. A bill that is itself a public law in this site’s data links here; the others link to Congress.gov.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 13 actions.
- Feb 25, 2003Became lawBecame law · Became Public Law No: 108-8.
- Became lawBecame law · Signed by President.
- Feb 14, 2003FloorFloor · Presented to President.
- Feb 11, 2003FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
- FloorFloor · On motion to suspend the rules and pass the bill Agreed to by voice vote.
- FloorFloor · DEBATE - The House proceeded with forty minutes of debate on S. 141.
- FloorFloor · Considered under suspension of the rules.
- FloorFloor · Mr. Nussle moved to suspend the rules and pass the bill.
- Jan 27, 2003FloorFloor · Message on Senate action sent to the House.
- FloorFloor · Received in the House.
- CommitteeCommittee · Referred to the Committee on the Budget, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Jan 10, 2003FloorFloor · Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.
- IntroducedIntroduced · Introduced in Senate
Data notes
Every action the Library of Congress lists for the bill, from introduction to signing, plus the dated committee hearings. The source lists many steps twice (the chamber’s own entry and the Library of Congress copy, or a presidential and a became-law entry with the same words); those are shown once. Amendments are listed in their own section.
Amendments
No amendments to this bill are on record.
Data notes
Amendments offered to this bill in either chamber, as the Library of Congress records them: each with a status read from its last recorded step: agreed to, rejected, withdrawn, ruled out of order, fell with another amendment, or offered with no vote recorded (most Senate amendments are only ever offered). The wording of each amendment is the source’s. Amendments to amendments and amendments to other bills are not listed.
Official record
The bill’s full text is on Congress.gov. Data through Oct 7, 2026.