[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 966 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                 S. 966

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 15, 2015

  Mrs. Shaheen (for herself and Mr. Isakson) introduced the following 
   bill; which was read twice and referred to the Committee on Small 
                     Business and Entrepreneurship

_______________________________________________________________________

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

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(15 U.S.C. 696 note) is repealed.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 that date of enactment.
                                 <all>