[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 2808 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                S. 2808

     To improve the Express Loan Program of the Small Business Act.


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                   IN THE SENATE OF THE UNITED STATES

                           November 20, 2009

 Mrs. Shaheen introduced the following bill; which was read twice and 
    referred to the Committee on Small Business and Entrepreneurship

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                                 A BILL


 
     To improve the Express Loan Program of the Small Business Act.

    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 ``Express Loan Improvements Act of 
2009''.

SEC. 2. EXPRESS LOAN PROGRAM.

    (a) In General.--Section 7(a)(31) of the Small Business Act (15 
U.S.C. 636(a)(31)) is amended--
            (1) in subparagraph (A)(iii), by striking ``50 percent'' 
        and inserting ``75 percent''; and
            (2) in subparagraph (D), by striking ``$350,000'' and 
        inserting ``$1,000,000''.
    (b) Prospective Repeal.--Effective 2 years after the date of 
enactment of this Act, section 7(a)(31)(A)(iii) of the Small Business 
Act (15 U.S.C. 636(a)(31)(A)(iii)) is amended by striking ``75 
percent'' and inserting ``50 percent''.
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