S.966 - CREED Act of 2015114th Congress (2015-2016)
|Sponsor:||Sen. Shaheen, Jeanne [D-NH] (Introduced 04/15/2015)|
|Committees:||Senate - Small Business and Entrepreneurship|
|Committee Reports:||S. Rept. 114-266|
|Latest Action:||Senate - 05/26/2016 By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report. Report No. 114-266. (All Actions)|
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Summary: S.966 — 114th Congress (2015-2016)All Information (Except Text)
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.