§4746 Reports

Summary

By the last day of each calendar quarter, a participating State must send the Fund a report about any contributions it made to reserve funds in the previous quarter. If the State made contributions, the report must say the total amount, say how much is eligible for reimbursement (equal to the total unless a limit in section 4747 applies), and provide proof when that limit in section 4747 applies for each loan affected. The report must also include a signed statement that the numbers are correct; that money meeting the minimum rules in section 4743(b)(3) is still available and legally set aside for reserve funds (minus any amounts the State put in after it was approved); that no participation agreement was changed without approval; and that the State is running the Program under the rules and the regulations under section 4749. By March 31 each year, each participating State must give the Fund annual data showing the number of borrowers financed under the Program, the total amount of covered loans, and breakdowns by industry type, loan size, annual sales, and number of employees. All reports must follow the format the Fund requires.