HR 3042
112th Congress
House
Commerce
Disaster relief and insurance
Interest, dividends, interest rates
Small business
Disaster Loan Fairness Act of 2011
Introduced: September 23, 2011
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 23, 2011
Referred to the House Committee on Small Business.
Sep 23, 2011
Introduced in House
Plain-English summary
Disaster Loan Fairness Act of 2011 - Requires that, when the President declares a major disaster, the interest rates for any loan programs or guarantees under the Small Business Act or Small Business Investment Act of 1958, including home disaster loans, business physical disaster loans, and economic injury disaster loans, shall be 1% for eligible applicants in the declared disaster area, with or without other available credit.
Makes such rates applicable for the duration of all loans and guarantees made while the declaration is in effect.
What's happening now
Referred to the House Committee on Small Business.
Committees of jurisdiction
1