H. R. 4563
IN THE HOUSE OF REPRESENTATIVES
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.
This Act may be cited as the
Servicemembers Interest Rate Relief Act of 2005.
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:
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.