< Back to H.R. 4563 (109th Congress, 2005–2006)

Text of the Servicemembers Interest Rate Relief Act of 2005

This bill was introduced on December 15, 2005, in a previous session of Congress, but was not enacted. The text of the bill below is as of Dec 15, 2005 (Introduced).

Source: GPO

I

109th CONGRESS

1st Session

H. R. 4563

IN THE HOUSE OF REPRESENTATIVES

December 15, 2005

introduced the following bill; which was referred to the Committee on Veterans’ Affairs

A BILL

To amend the Servicemembers Civil Relief Act to provide improved interest rate relief for servicemembers during periods of military service.

1.

Short Title

This Act may be cited as the Servicemembers Interest Rate Relief Act of 2005.

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.

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