H.R. 4563 (109th): Servicemembers Interest Rate Relief Act of 2005
109th Congress, 2005–2006. Text as of Dec 15, 2005 (Introduced).
Status & Summary | PDF | Source: GPO
HR 4563 IH
To amend the Servicemembers Civil Relief Act to provide improved interest rate relief for servicemembers during periods of military service.
December 15, 2005
Mr. RYUN of Kansas introduced the following bill; which was referred to the Committee on Veterans' Affairs
To amend the Servicemembers Civil Relief Act to provide improved interest rate relief for servicemembers during periods of military service.
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 `Servicemembers Interest Rate Relief Act of 2005'.
SEC. 2. IMPROVED INTEREST RATE RELIEF.
Section 207 of the Servicemembers Civil Relief Act (50 U.S.C. App. 527) is amended by adding at the end the following new subsection:
`(e) Temporary Interest Rate Provision- In the case of any interest incurred during the period beginning on October 1, 2006, and ending on September 30, 2009, the preceding subsections of this section shall be applied by substituting `5 percent' for `6 percent' each place it appears.'.