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Small Business Gulf Coast Revitalization Act of 2005

Introduced: November 4, 2005 Introduced by: Velázquez, Nydia M. Democratic · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 4, 2005
Referred to the House Committee on Small Business.
Nov 4, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Small Business Gulf Coast Revitalization Act of 2005 - Authorizes the Administrator of the Small Business Administration (SBA) to: (1) make grants of up to $100,000 to Hurricane Katrina-affected small businesses (such businesses); (2) refinance existing SBA debts and suspend payments on SBA disaster loans with respect to such businesses; (3) enter into agreements with SBA preferred lenders to participate on a deferred basis in loans made to such businesses; and (4) guarantee non-SBA bank loans made to such businesses.

Directs the Administrator to: (1) select a Gulf Region New Markets Venture Capital Company; and (2) make grants to such businesses under the microenterprise technical assistance and capacity building grant program.

Requires not less than 30 percent of all prime contracts awarded by federal agencies for recovery or reconstruction activities related to Hurricane Katrina to be awarded to small businesses located in Alabama, Mississippi, or Louisiana. Authorizes restricted competition in federal prime contracts and other preferences for such businesses. Provides increased small business access to federal subcontracts for hurricane relief and recovery.

Authorizes small business development centers to send counselors to centers located in Katrina-affected areas.

Authorizes the Administrator to make five-year grants to eligible organizations to establish and operate small business incubator programs in Katrina-affected areas.

What's happening now November 4, 2005

Referred to the House Committee on Small Business.

 Committees of jurisdiction 1