To defer payments of principal and interest on disaster loans relating to the Deepwater Horizon oil spill.
What it does: Adds SEC. 2002. DISASTER LOANS on page 79, between lines 3 and 4
Sen. Mary L. Landrieu (D-LA)Adds SEC. 2002. DISASTER LOANS on page 79, between lines 3 and 4
Adds a sectionPrinted pageInserted: SEC. 2002. DISASTER LOANS.
Inserted: For any loan under section 7(b) of the Small Business Act (15 U.S.C. 636(b)) made as a result of the discharge of oil that began in 2010 in connection with the explosion on, and sinking of, the mobile offshore drilling unit Deepwater Horizon, the Administrator of the Small Business Administration shall defer payments of principal and interest for not longer than 1 year after the date of disbursement of the loan. For a loan described in this section, the Administrator shall accept as collateral, where practicable, the interest of the applicant in a claim against British Petroleum relating to the discharge of oil.
Original wording
On page 79, between lines 3 and 4, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
On page 79, between lines 3 and 4, insert the following:
SEC. 2002. DISASTER LOANS.
For any loan under section 7(b) of the Small Business Act (15 U.S.C. 636(b)) made as a result of the discharge of oil that began in 2010 in connection with the explosion on, and sinking of, the mobile offshore drilling unit Deepwater Horizon, the Administrator of the Small Business Administration shall defer payments of principal and interest for not longer than 1 year after the date of disbursement of the loan. For a loan described in this section, the Administrator shall accept as collateral, where practicable, the interest of the applicant in a claim against British Petroleum relating to the discharge of oil.
Legislative Activity
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Considered by Senate. (consideration: CR S4475)
May 27, 2010
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Considered by Senate. (consideration: CR S4475)
May 27, 2010
Proposed amendment SA 4180 withdrawn in Senate. (consideration: CR S4503)
May 27, 2010
Considered by Senate. (consideration: CR S4398)
May 26, 2010
Senate amendment proposed (on the floor): Amendment SA 4180 proposed by Senator Landrieu.(consideration: CR S4201; text: CR S4201)
May 25, 2010
Amendment SA 4180 proposed by Senator Landrieu. (consideration: CR S4201; text: CR S4201) To defer payments of principal and interest on disaster loans relating to the Deepwater Horizon oil spill.
May 25, 2010
Senate amendment submitted
May 24, 2010