118 HR 9610 IH: To amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes. U.S. House of Representatives 2024-09-16 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS2d SessionH. R. 9610IN THE HOUSE OF REPRESENTATIVESSeptember 16, 2024Mr. Neguse (for himself and Mr. Ciscomani) introduced the following bill; which was referred to the Committee on Small BusinessA BILLTo amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes.

1.

Waiver of interest accrual and payments for certain disaster loans

Section 7(d) of the Small Business Act (15 U.S.C. 636(d)) is amended by adding at the end the following paragraph:(9)

Waiver of interest accrual and payments

With respect to a loan made under subsection (b) for disasters declared on or after the date of the enactment of this paragraph, the Administrator shall, for the 12-month period beginning on the date of disbursement of such loan—(A)establish a rate of interest on such loan of zero percent; and(B)defer payments on the principal of such loan..