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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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    "ocrText": "83\nHOUSE BILL\nSENATE BILL\nCOMMENTS\n1\n\"(ii) the interest rate shall not exceed\n2\n9 percent.\";\n3\n(2) by redesignating subsections (f), (g) and (h)\n4\nas subsections (g), (h) and (j), respectively;\n5\n(3) by adding after subsection (e) the following\n6\nnew subsection:\n7\n\"(f) INTEREST RATES FOR NEW LOANS AFTER JULY\n8 1, 1994.-\n9\n\"(1) IN. GENERAL-Notwithstanding sub-\n10\nsections (a), (b), (d) and (e) of this section, with re-\n11\nspect to any loan made, insured, or guaranteed\n12\nunder this part (other than a loan made pursuant to\n13\nsections 428B and 428C) for which the first dis-\n14\nbursement is made on or after July 1, 1994, the ap-\n15\nplicable rate of interest shall, during any 12-month\n16\nperiod beginning on July 1 and ending on June 30,\n17\nbe determined on the preceding June 1 and be equal\n18\nto-\n19\n\"(A) the bond equivalent rate of 91-day\n20\nTreasury bills auctioned at the final auction\n21\nheld prior to such June 1; plus\n22\n\"(B) 3.10 percent,\n23\nexcept that such rate shall not exceed 8.25 percent.\n24\n\"(2) CONSULTATION-The Secretary shall de-\n25\ntermine the applicable rate of interest under para-"
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