[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 2831 Introduced in Senate (IS)]

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114th CONGRESS
  2d Session
                                S. 2831

To amend the Small Business Investment Act of 1958 to provide priority 
for applicants for a license to operate as a small business investment 
              company that are located in a disaster area.


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                   IN THE SENATE OF THE UNITED STATES

                             April 21, 2016

  Mr. Vitter 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 amend the Small Business Investment Act of 1958 to provide priority 
for applicants for a license to operate as a small business investment 
              company that are located in a disaster area.

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

SECTION 1. SBIC PROGRAM FAST-TRACK APPLICATIONS.

    Section 301(c)(2) of the Small Business Investment Act of 1958 (15 
U.S.C. 681(c)(2)) is amended by adding at the end the following:
                    ``(C) Priority for applicants located in disaster 
                areas.--
                            ``(i) Definition.--In this subparagraph, 
                        the term `disaster area' means the area for 
                        which the President has declared a major 
                        disaster (as defined in section 102 of the 
                        Robert T. Stafford Disaster Relief and 
                        Emergency Assistance Act (42 U.S.C. 5122)), 
                        during the period of the declaration.
                            ``(ii) Priority.--The Administrator shall 
                        give priority to an application for a license 
                        to operate as a small business investment 
                        company that is from an applicant located in a 
                        disaster area.''.
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