< Back to H.R. 5334 (109th Congress, 2005–2006)

Text of the Small Scale Disaster Small Business Assistance Act of 2006

This bill was introduced on May 9, 2006, in a previous session of Congress, but was not enacted. The text of the bill below is as of May 9, 2006 (Introduced).

Download PDF

Source: GPO

I

109th CONGRESS

2d Session

H. R. 5334

IN THE HOUSE OF REPRESENTATIVES

May 9, 2006

introduced the following bill; which was referred to the Committee on Small Business

A BILL

To provide for low-interest disaster loans when a small business concern is affected by a small-scale disaster.

1.

Short title

This Act may be cited as the Small Scale Disaster Small Business Assistance Act of 2006.

2.

Disaster loans when small business concern is affected by small-scale disaster

Section 7 of the Small Business Act (15 U.S.C. 636) is amended in subsection (b) by adding after paragraph (3) the following new paragraph:

(4)

to make such disaster loans (either directly or in cooperation with banks or other lending institutions through agreement to participate on an immediate or deferred basis) to assist a small business concern that—

(A)

has suffered or that is likely to suffer over $50,000 in damage or lost revenue as the result of a disaster that is of a scale too small to be covered by paragraph (2); and

(B)

is not otherwise receiving Federal or State assistance by reason of the disaster.

.