[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2994 Introduced in House (IH)]






108th CONGRESS
  1st Session
                                H. R. 2994

 To amend the Small Business Act to prohibit the Administrator of the 
     Small Business Administration from selling loans made by the 
             Administrator under the disaster loan program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 3, 2003

  Mr. Peterson of Minnesota introduced the following bill; which was 
              referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
 To amend the Small Business Act to prohibit the Administrator of the 
     Small Business Administration from selling loans made by the 
             Administrator under the disaster loan program.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PROHIBITION ON SALE OF DISASTER LOANS.

    Section 4 of the Small Business Act (15 U.S.C. 633) is amended by 
adding at the end the following:
    ``(g) Prohibition on Sale of Disaster Loans.--The Administrator may 
not sell any portion of the Administration's interest in, or the rights 
of the Administration with respect to, any loan made directly or 
through immediate participation under section 7(b), including by direct 
sale, through the sale of loan participations, or by including such 
loans in a pool of assets for the purpose of selling asset-backed 
securities.''.
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