Summary: S.966 — 114th Congress (2015-2016)All Information (Except Text)

Bill summaries are authored by CRS.

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Reported to Senate with amendment(s) (06/10/2015)

Commercial Real Estate and Economic Development Act of 2015 or the CREED Act of 2015

(Sec. 2) Reinstates the authority for Small Business Administration (SBA) low-interest refinancing of small business debt not involving business expansion under the SBA's local development business loan program, effective:

  • on and after enactment of this Act, and
  • during any fiscal year in which the federal government's cost in making loan guarantees under such program is zero.

Repeals a provision of the Small Business Jobs Act of 2010 that terminated such authority as of September 27, 2012.