INTENTION OF CONGRESS.

SEC. 502. INTENTION OF CONGRESS. (a) In General.—The Small Business Administration shall fully utilize the $30,000,000 appropriated in Public Law 103–317 to reduce, in accordance with this title and the amendments made by this title, prepayment penalties imposed in connection with debentures issued under— (1) section 303 or 503 of the Small Business Investment Act of 1958, which have been purchased by the Federal Financing Bank; and (2) title III to companies operating under section 301(d) of such Act, which have been purchased by the Small Business Administration. (b) Equal Opportunity.—In order to provide an equal opportunity to participate in the program authorized under this title, the Small Business Administration shall afford each borrower or issuer of a debenture subject to this title, not less than 45 days to elect to participate and to provide an earnest money deposit. The Administration shall subsequently allow a period of not less than 4 months, during which those borrowers or issuers that elect to participate shall be allowed to complete the prepayment process. (c) Restrictions on Participation.—In no event shall the Small Business Administration— (1) allow any borrower or issuer to participate in the pro-gram if the borrower or issuer fails to— (A) make a timely election and provide the deposit on a timely basis; or (B) complete the prepayment process within the required time; or 108 STAT. 4199 (2) allow any borrower or issuer to participate in the pro-gram at a percentage rate other than the rate finally determined to be applicable to all other borrowers or issuers with similar terms of years.