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83
HOUSE BILL
SENATE BILL
COMMENTS
1
"(ii) the interest rate shall not exceed
2
9 percent.";
3
(2) by redesignating subsections (f), (g) and (h)
4
as subsections (g), (h) and (j), respectively;
5
(3) by adding after subsection (e) the following
6
new subsection:
7
"(f) INTEREST RATES FOR NEW LOANS AFTER JULY
8 1, 1994.-
9
"(1) IN. GENERAL-Notwithstanding sub-
10
sections (a), (b), (d) and (e) of this section, with re-
11
spect to any loan made, insured, or guaranteed
12
under this part (other than a loan made pursuant to
13
sections 428B and 428C) for which the first dis-
14
bursement is made on or after July 1, 1994, the ap-
15
plicable rate of interest shall, during any 12-month
16
period beginning on July 1 and ending on June 30,
17
be determined on the preceding June 1 and be equal
18
to-
19
"(A) the bond equivalent rate of 91-day
20
Treasury bills auctioned at the final auction
21
held prior to such June 1; plus
22
"(B) 3.10 percent,
23
except that such rate shall not exceed 8.25 percent.
24
"(2) CONSULTATION-The Secretary shall de-
25
termine the applicable rate of interest under para-
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