[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6922 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6922

To amend the Small Business Act to provide low-interest loans to small 
 business concerns providing transportation services to assist them in 
                  dealing with high motor fuel prices.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 17, 2008

 Mr. Baird (for himself, Mr. DeFazio, Mr. Dicks, Mr. Salazar, and Ms. 
 Herseth Sandlin) introduced the following bill; which was referred to 
                    the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
To amend the Small Business Act to provide low-interest loans to small 
 business concerns providing transportation services to assist them in 
                  dealing with high motor fuel prices.

SECTION 1. ASSISTANCE TO SMALL BUSINESSES ENGAGED IN PROVIDING 
              TRANSPORTATION SERVICES.

    (a) In General.--Section 7(b) of the Small Business Act (15 U.S.C. 
636(b)) is amended by inserting after paragraph (9) the following new 
paragraph:
            ``(10) Fuel cost assistance for concerns engaged in 
        providing transportation services.--
                    ``(A) In general.--The Administration may make 
                disaster loans under this subsection (either directly 
                or in cooperation with banks or other lending 
                institutions through agreements to participate on an 
                immediate or deferred basis) to assist an eligible 
                small business concern that has suffered or that is 
                likely to suffer substantial economic injury as the 
                result of increases in the price of gasoline or diesel 
                fuel.
                    ``(B) Eligible small business concern.--For 
                purposes of this paragraph, the term `eligible small 
                business concern' means any small business concern 
                engaged in the transportation of persons or property 
                for hire.
                    ``(C) Interest rate.--Any loan or guarantee 
                extended pursuant to this paragraph shall be made--
                            ``(i) without regard to whether the 
                        applicant is able to obtain credit elsewhere, 
                        and
                            ``(ii) at the same interest rate as 
                        economic injury loans under paragraph (2).
                    ``(D) Maximum assistance.--No loan may be made 
                under this paragraph, either directly or in cooperation 
                with banks or other lending institutions through 
                agreements to participate on an immediate or deferred 
                basis, if the total amount outstanding and committed to 
                the borrower under this paragraph would exceed 
                $250,000, unless such applicant constitutes, or have 
                become due to changed economic circumstances, a major 
                source of employment in its surrounding area, as 
                determined by the Administration, in which case the 
                Administration, in its discretion, may waive the 
                $250,000 limitation.
                    ``(E) No disaster declaration required.--For 
                purposes of assistance under this paragraph, no 
                declaration of a disaster area shall be required.
                    ``(F) Period loans are available.--This paragraph 
                shall apply to loans made during the 2-year period 
                beginning on the date of the enactment of this 
                paragraph.''.
    (b) Conforming Amendment.--Section 4(c) of such Act (15 U.S.C. 
633(c)) is amended--
            (1) by inserting ``7(b)(10),'' after ``7(b)(4),'' in 
        paragraph (1), and
            (2) by inserting ``7(b)(10),'' after ``7(b)(8),'' in 
        paragraph (2).
                                 <all>