[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1240 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 1240

   To extend the low-interest refinancing provisions under the Local 
Development Business Loan Program of the Small Business Administration.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 18, 2013

  Ms. Chu (for herself, Ms. Meng, Mr. Payne, Mrs. Negrete McLeod, Ms. 
    Bordallo, Mr. Schrader, Ms. Tsongas, Mr. Petri, and Mr. Bera of 
 California) introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
   To extend the low-interest refinancing provisions under the Local 
Development Business Loan Program of the Small Business Administration.

    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 ``Commercial Real Estate and Economic 
Development Act of 2013'' or the ``CREED Act of 2013''.

SEC. 2. LOW-INTEREST REFINANCING UNDER THE LOCAL DEVELOPMENT BUSINESS 
              LOAN PROGRAM.

    (a) Repeal.--Section 1122(b) of the Small Business Jobs Act of 2010 
(15 U.S.C. 696 note) is repealed.
    (b) Restoration of Low-Interest Refinancing Provision.--
Subparagraph (C) of section 502(7) of the Small Business Investment Act 
of 1958 (15 U.S.C. 696(7)) (relating to refinancing not involving 
expansions), as in effect on September 25, 2012, shall be in effect 
during the period beginning on the date of enactment of this Act and 
ending 5 years after such date of enactment.

SEC. 3. NO ADDITIONAL APPROPRIATIONS AUTHORIZED.

    The amendments made by section 2 do not authorize any 
appropriations for the purpose of carrying out such amendment or the 
program it amends.
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