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

                                                       Calendar No. 107
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, Mr. Isakson, Ms. Cantwell, Ms. Ayotte, Mrs. 
    Fischer, Ms. Hirono, Mr. Coons, and Mr. Franken) introduced the 
 following bill; which was read twice and referred to the Committee on 
                  Small Business and Entrepreneurship

                             June 10, 2015

               Reported by Mr. Vitter, with an amendment
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]

_______________________________________________________________________

                                 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,

<DELETED>SECTION 1. SHORT TITLE.</DELETED>

<DELETED>    This Act may be cited as the ``Commercial Real Estate and 
Economic Development Act of 2015'' or the ``CREED Act of 
2015''.</DELETED>

<DELETED>SEC. 2. LOW-INTEREST REFINANCING UNDER THE LOCAL DEVELOPMENT 
              BUSINESS LOAN PROGRAM.</DELETED>

<DELETED>    (a) Repeal.--Section 1122(b) of the Small Business Jobs 
Act of 2010 (15 U.S.C. 696 note) is repealed.</DELETED>
<DELETED>    (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.</DELETED>

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 on 
and after the date of enactment of this Act, in any fiscal year during 
which the cost to the Federal Government of making guarantees under 
section 502 of the Small Business Investment Act of 1958 is zero.
                                                       Calendar No. 107

114th CONGRESS

  1st Session

                                 S. 966

_______________________________________________________________________

                                 A BILL

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

_______________________________________________________________________

                             June 10, 2015

                       Reported with an amendment