[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4563 Introduced in House (IH)]







109th CONGRESS
  1st Session
                                H. R. 4563

   To amend the Servicemembers Civil Relief Act to provide improved 
  interest rate relief for servicemembers during periods of military 
                                service.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           December 15, 2005

Mr. Ryun of Kansas introduced the following bill; which was referred to 
                   the Committee on Veterans' Affairs

_______________________________________________________________________

                                 A BILL


 
   To amend the Servicemembers Civil Relief Act to provide improved 
  interest rate relief for servicemembers during periods of military 
                                service.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Servicemembers Interest Rate Relief 
Act of 2005''.

SEC. 2. IMPROVED INTEREST RATE RELIEF.

    Section 207 of the Servicemembers Civil Relief Act (50 U.S.C. App. 
527) is amended by adding at the end the following new subsection:
    ``(e) Temporary Interest Rate Provision.--In the case of any 
interest incurred during the period beginning on October 1, 2006, and 
ending on September 30, 2009, the preceding subsections of this section 
shall be applied by substituting `5 percent' for `6 percent' each place 
it appears.''.
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