H. R. 1446
IN THE HOUSE OF REPRESENTATIVES
March 9, 2007
Mr. Jindal introduced the following bill; which was referred to the Committee on Small Business
To amend the Small Business Act to allow an increased deferment period for loans under the 7(b) loan program.
Increased deferment period
Section 7 of the Small Business Act (15 U.S.C. 636) is amended by inserting after subsection (d) the following:
Increased deferment authorized
In making loans under section 7(b), the Administrator may provide, to the person receiving the loan, an option to defer repayment on the loan.
A deferment under paragraph (1) may not exceed 4 years.
Retroactive application to Hurricane Katrina and Hurricane Rita victims
This subsection applies retroactively to any loan under section 7(b) that was made—
in response to Hurricane Katrina or Hurricane Rita of 2005; and
for a small business located in a county or parish designated by the Administrator as a disaster area by reason of such Hurricane Katrina or Hurricane Rita, as applicable.