HR 691
102th Congress
House
Commerce
Bank failures
Disaster relief
Finance and Financial Sector
Small business
To amend the Small Business Act to provide disaster loan eligibility to small business concerns located in States in which one-third or more of the depository institutions have been simultaneously closed for a period of at least 5 days.
Introduced: January 29, 1991
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 23, 1991
Referred to the Subcommittee on SBA, the General Economy, and Minority Enterprise Development.
Jan 29, 1991
Referred to the House Committee on Small Business.
Jan 29, 1991
Introduced in House
Plain-English summary
Amends the Small Business Act to empower the Small Business Administration to make disaster loans to small business concerns in a State in which one-third or more of the depository institutions have been closed simultaneously for a five-day period and, consequently, depositors cannot access their funds.
Limits eligibility to situations where: (1) a substantial percentage of the applicant's funds are held in a closed depository institution; and (2) the applicant's need for credit is a direct result of the closing of such institution.
What's happening now
Referred to the Subcommittee on SBA, the General Economy, and Minority Enterprise Development.
Committees of jurisdiction
2
Cosponsors
1