Text: H.R.5787 — 111th Congress (2009-2010)All Information (Except Text)

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Introduced in House (07/20/2010)


111th CONGRESS
2d Session
H. R. 5787


To provide for the refinancing and consolidation of disaster loans under the Small Business Act, and for other purposes.


IN THE HOUSE OF REPRESENTATIVES

July 20, 2010

Mr. Melancon introduced the following bill; which was referred to the Committee on Small Business


A BILL

To provide for the refinancing and consolidation of disaster loans under the Small Business Act, 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. Short title.

This Act may be cited as the “SBA Disaster Loan Relief Act of 2010”.

SEC. 2. Refinancing and consolidation of disaster loans.

(a) In general.—Not later than 30 days after the date of enactment of this Act, the Administrator of the Small Business Administration shall issue regulations providing for, during the period defined in subsection (b), the refinancing or consolidation of a loan under section 7(b) of the Small Business Act (15 U.S.C. 636(b)) made at any time to any person directly affected by the discharge of oil arising from the explosion on and sinking of the mobile offshore drilling unit Deepwater Horizon.

(b) Period defined.—The period defined in this subsection is the period beginning on April 22, 2010, and ending 180 days after the date that the Administrator determines to be the date that the Administrator last makes a loan under section 7(b) of the Small Business Act (15 U.S.C. 636(b)) to any person directly affected by the discharge of oil arising from the explosion on and sinking of the mobile offshore drilling unit Deepwater Horizon.