[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6346 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 6346

   To establish a standard interest rate under programs for economic 
             injury disaster loans, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             March 23, 2020

 Mr. Gallego introduced the following bill; which was referred to the 
                      Committee on Small Business

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                                 A BILL


 
   To establish a standard interest rate under programs for economic 
             injury disaster loans, 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. INTEREST RATE FOR ECONOMIC INJURY DISASTER LOANS.

    Notwithstanding any other provision of law, the interest rate 
chargeable under any loan made after the date of the enactment of this 
Act under section 7(b)(2) of the Small Business Act (15 U.S.C. 
636(b)(2)) shall be the lesser of--
            (1) the interest rate otherwise chargeable under such 
        program; or
            (2) the interest rate payable on the most-recently issued 
        marketable obligations of the United States having a maturity 
        of 10 years, as determined for purposes of this section by the 
        Secretary of the Treasury.
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