[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2266 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 2266

   To extend the low-interest refinancing provisions under the Local 
Development Business Loan Program of the Small Business Administration, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 12, 2015

Ms. Judy Chu of California (for herself, Ms. Hahn, Ms. Meng, Mr. Payne, 
   Ms. Clarke of New York, Ms. Adams, Mr. Takai, Mrs. Lawrence, Mr. 
  Moulton, Mr. Bera, and Ms. Tsongas) 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, 
                        and for other purposes.

    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 2015'' or the ``CREED Act of 2015''.

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

    (a) Repeal and Restoration.--Subsection (b) of section 1122 of the 
Small Business Jobs Act of 2010 (15 U.S.C. 696 note) is repealed, and 
the provision of law struck by such subsection, and any regulations 
promulgated pursuant to such sections, as were in effect on September 
26, 2012, are restored and revived.
    (b) Effective Date.--Effective 5 years after the date of enactment 
of this Act, section 502(7) of the Small Business Investment Act of 
1958 (15 U.S.C. 696(7)) is amended by striking subparagraph (C).

SEC. 3. RULE OF CONSTRUCTION.

    The amendments made by section 2 may not be construed as an 
authorization of appropriations for the purpose of carrying out such 
amendments or the loan program established under section 502 of the 
Small Business Investment Act of 1958 (15 U.S.C. 696).
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