---
kind: "section"
citation: "12 U.S.C. § 5708"
title: "12"
title_heading: "Banks and Banking"
number: "5708"
heading: "Implementation and administration"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/5708"
units:
  - "Chapter 54 — State Small Business Credit Initiative"
---

# §5708. Implementation and administration

- (a) **General authorities and duties—** The [Secretary](/usc/12/5701.md?p=14) shall—
  - (1) consult with the Administrator of the Small Business Administration and the [appropriate Federal banking agencies](/usc/12/5701.md?p=2) on the administration of the [Program](/usc/12/5701.md?p=7);
  - (2) establish minimum national standards for approved [State programs](/usc/12/5701.md?p=13);
  - (3) provide technical assistance to [States](/usc/12/5701.md?p=10) for starting [State programs](/usc/12/5701.md?p=13) and generally disseminate best practices;
  - (4) manage, administer, and perform necessary [program](/usc/12/5701.md?p=7) integrity functions for the [Program](/usc/12/5701.md?p=7); and
  - (5) ensure adequate oversight of the approved [State programs](/usc/12/5701.md?p=13), including oversight of the cash flows, performance, and compliance of each approved [State program](/usc/12/5701.md?p=13).
- (b) **Appropriations—** There is hereby appropriated to the [Secretary](/usc/12/5701.md?p=14), out of funds in the Treasury not otherwise appropriated, $1,500,000,000 to carry out the [Program](/usc/12/5701.md?p=7), including to pay reasonable costs of administering the [Program](/usc/12/5701.md?p=7).
- (c) **Termination of Secretary’s Program administration functions—** The authorities and duties of the [Secretary](/usc/12/5701.md?p=14) to implement and administer the [Program](/usc/12/5701.md?p=7) shall terminate at the end of the 7-year period beginning on March 11, 2021.
- (d) **Expedited contracting—** During the 1-year period beginning on March 11, 2021, the [Secretary](/usc/12/5701.md?p=14) may enter into contracts without regard to any other provision of law regarding public contracts, for purposes of carrying out this chapter.
- (e) **Technical assistance—** Of the amounts appropriated for fiscal year 2021 to carry out the [Program](/usc/12/5701.md?p=7), $500,000,000 may be used by the [Secretary](/usc/12/5701.md?p=14) to—
  - (1) provide funds to [States](/usc/12/5701.md?p=10) to carry out a technical assistance plan under which a [State](/usc/12/5701.md?p=10) will provide legal, accounting, and financial advisory services, either directly or contracted with legal, accounting, and financial advisory firms, with priority given to business enterprises owned and controlled by [socially and economically disadvantaged individuals](/usc/12/5701.md?p=18), to very small businesses and business enterprises owned and controlled by [socially and economically disadvantaged individuals](/usc/12/5701.md?p=18) applying for—
    - (A) [State programs](/usc/12/5701.md?p=13) under the [Program](/usc/12/5701.md?p=7); and
    - (B) other [State](/usc/12/5701.md?p=10) or Federal [programs](/usc/12/5701.md?p=7) that support small businesses;
  - (2) transfer amounts to the Minority Business Development Agency, so that the Agency may use such amounts in a manner the Agency determines appropriate, including through contracting with third parties, to provide technical assistance to business enterprises owned and controlled by [socially and economically disadvantaged individuals](/usc/12/5701.md?p=18) applying to—
    - (A) [State programs](/usc/12/5701.md?p=13) under the [Program](/usc/12/5701.md?p=7); and
    - (B) other [State](/usc/12/5701.md?p=10) or Federal [programs](/usc/12/5701.md?p=7) that support small businesses; and
  - (3) contract with legal, accounting, and financial advisory firms (with priority given to business enterprises owned and controlled by [socially and economically disadvantaged individuals](/usc/12/5701.md?p=18)), to provide technical assistance to business enterprises owned and controlled by [socially and economically disadvantaged individuals](/usc/12/5701.md?p=18) applying to—
    - (A) [State programs](/usc/12/5701.md?p=13) under the [Program](/usc/12/5701.md?p=7); and
    - (B) other [State](/usc/12/5701.md?p=10) or Federal [programs](/usc/12/5701.md?p=7) that support small businesses.

## Source credit

(Pub. L. 111–240, title III, § 3009, Sept. 27, 2010, 124 Stat. 2580; Pub. L. 117–2, title III, § 3301(a)(1)(F), (d), Mar. 11, 2021, 135 Stat. 69, 70.)

## Notes

### Amendments

2021—Subsecs. (c), (d). Pub. L. 117–2, § 3301(a)(1)(F), substituted “March 11, 2021” for “September 27, 2010”.

Subsec. (e). Pub. L. 117–2, § 3301(d), added subsec. (e).

### Statutory Notes and Related Subsidiaries

### Effective Date of 2021 Amendment

Amendment by Pub. L. 117–2 applicable with respect to funds appropriated under section 3301 of Pub. L. 117–2 and funds appropriated on and after Mar. 11, 2021, see section 3301(g) of Pub. L. 117–2, set out as a note under section 5701 of this title.