Bill Details
Status
Latest action
2025-02-14 - Referred to the House Committee on Small Business.
Introduced Date
2025-02-14
Policy Area
Commerce
Committees
View committees (1)
Sponsors
8
0
0
AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would change the rules for certain disaster loans for small businesses. It would allow borrowers who qualify for these loans to get a larger extra loan amount after a disaster, raising the cap from 20% to 30% of the original loan amount.
- The change would update the Small Business Act.
- It applies to certain disaster-related loans for small businesses.
- The goal is to give businesses more financial help when recovering from disasters.
Official Summaries
No summaries available
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1375 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 1375
To amend the Small Business Act with respect to the maximum additional
loan amount for certain disaster loans, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
February 14, 2025
Ms. Castor of Florida introduced the following bill; which was referred
to the Committee on Small Business
_______________________________________________________________________
A BILL
To amend the Small Business Act with respect to the maximum additional
loan amount for certain disaster loans, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. MAXIMUM ADDITIONAL LOAN AMOUNT FOR CERTAIN DISASTER LOANS.
Section 7(b)(1)(A) of the Small Business Act (15 U.S.C.
636(b)(1)(A)) is amended by striking ``20 per centum'' and inserting
``30 percent''.
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