[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1446 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 1446

To amend the Small Business Act to allow an increased deferment period 
                 for loans under the 7(b) loan program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 9, 2007

  Mr. Jindal introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
To amend the Small Business Act to allow an increased deferment period 
                 for loans under the 7(b) loan program.

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

SECTION 1. INCREASED DEFERMENT PERIOD.

    Section 7 of the Small Business Act (15 U.S.C. 636) is amended by 
inserting after subsection (d) the following:
    ``(e) Increased Deferment Authorized.--
            ``(1) In general.--In making loans under section 7(b), the 
        Administrator may provide, to the person receiving the loan, an 
        option to defer repayment on the loan.
            ``(2) Period.--A deferment under paragraph (1) may not 
        exceed 4 years.
            ``(3) Retroactive application to hurricane katrina and 
        hurricane rita victims.--This subsection applies retroactively 
        to any loan under section 7(b) that was made--
                    ``(A) in response to Hurricane Katrina or Hurricane 
                Rita of 2005; and
                    ``(B) for a small business located in a county or 
                parish designated by the Administrator as a disaster 
                area by reason of such Hurricane Katrina or Hurricane 
                Rita, as applicable.''.
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