DEVELOPMENT COMPANY DEBENTURES.

SEC. 222. DEVELOPMENT COMPANY DEBENTURES. Section 503 of the Small Business Investment Act of 1958 (15 U.S.C. 697) is amended— (1) in subsection (b)(7), by striking subparagraph (A) and inserting the following: “(A) assesses and collects a fee, which shall be payable by the borrower, in an amount established annually by the Administration, which amount shall not exceed the lesser of— “(i) 0.9375 percent per year of the outstanding balance of the loan; and “(ii) the minimum amount necessary to reduce the cost (as defined in section 502 of the Federal Credit Reform Act of 1990) to the Administration of purchasing and guaranteeing debentures under this Act to zero; and”; and (2) in subsection (f), by striking “1997” and inserting “2000”.