S.360 - Military Reservists Small Business relief Act102nd Congress (1991-1992)
|Sponsor:||Sen. Bumpers, Dale [D-AR] (Introduced 02/06/1991)|
|Committees:||Senate - Small Business|
|Latest Action:||Senate - 03/14/1991 Indefinitely postponed by Senate by Unanimous Consent. (All Actions)|
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Summary: S.360 — 102nd Congress (1991-1992)All Information (Except Text)
Reported to Senate with amendment(s) (02/28/1991)
Military Reservists Small Business Relief Act - Amends the Small Business Act to direct the Small Business Administration (the Administration) to defer, upon request, repayment on any direct loan incurred by specified reservists prior to being ordered to active duty in the U.S. armed forces. Provides that during the deferral period no interest will accrue.
Prescribes guidelines for disaster loan assistance to small businesses for economic injury caused by a military call-up of the owner, manager, or key employee of such business.
Directs the Administration to use all its business development and management assistance programs (including State and private sector partners) to provide business counseling and training to small businesses adversely affected by the deployment of armed forces units in military or emergency situations.
States that for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) all direct and discretionary spending contained in this Act are emergency expenditures related to Operation Desert Shield, Operation Desert Storm, or any successor thereto.