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H.R. 1056 (106th): Small Business Year 2000 Readiness Act

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

3/10/1999--Introduced. Small Business Year 2000 Readiness Act - Amends the Small Business Act to authorize the Small Business Administration (SBA), during the period ending on December 31, 2000, to: (1) guarantee loans made by eligible lenders to small businesses to address Year 2000 computer problems (Y2K problem), including repair and acquisition, consulting, and related expenses; and (2) provide relief for a substantial economic injury incurred by a small business as a direct result of Y2K problems. Provides loan amounts and administration participation limits. Requires an annual report from the SBA to the congressional small business committees on the loan guarantee program.