I
112th CONGRESS
1st Session
H. R. 1336
IN THE HOUSE OF REPRESENTATIVES
April 1, 2011
Mr. Richmond introduced the following bill; which was referred to the Committee on Small Business, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
A BILL
To allow the Administrator of the Small Business Administration to create or save jobs by providing interest relief on certain outstanding disaster loans relating to damage caused by the 2005 Gulf Coast hurricanes or the 2008 Gulf Coast hurricanes.
Short title
This Act may be cited as the
Gulf States Small Business Interest
Relief Act of 2011
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Southeast Hurricanes Small Business Disaster Relief Program
In general
The Food, Conservation, and Energy Act of 2008 (Public Law 110–234; 122 Stat. 1422) is amended by inserting after section 12086 the following:
Southeast Hurricanes Small Business Disaster Relief Program
Definitions
In this section—
the term covered area means an area in the State of Louisiana, the State of Mississippi, the State of Alabama, or the State of Texas for which the President declared a major disaster relating to Hurricane Katrina of 2005, Hurricane Rita of 2005, Hurricane Gustav of 2008, or Hurricane Ike of 2008;
the term covered disaster loan means a loan—
made under section 7(b) of the Small Business Act (15 U.S.C. 636(b));
for damage or injury caused by Hurricane Katrina of 2005, Hurricane Rita of 2005, Hurricane Gustav of 2008, or Hurricane Ike of 2008; and
made to a business located in a covered area;
the term Deepwater Horizon oil spill means the blowout and explosion of the mobile offshore drilling unit Deepwater Horizon that occurred on April 20, 2010, and resulting hydrocarbon releases into the environment; and
the term program means the Southeast Hurricanes Small Business Disaster Relief Program established under subsection (b).
Program established
Subject to the availability of appropriations, the Administrator shall establish a Southeast Hurricanes Small Business Disaster Relief Program, under which the Administrator may waive payment of interest by a business on a covered disaster loan—
for not more than 3 years; and
in a total amount of not more than $15,000.
Priority of applications
The Administrator shall, to the extent practicable, give priority to an application for a waiver of payment of interest under the program by a small business concern—
with not more than 50 employees;
that demonstrates substantial economic injury as a result of the Deepwater Horizon oil spill; or
that resumed business operations—
during the period beginning on September 1, 2005 and ending on October 1, 2006 in a covered area relating to Hurricane Katrina of 2005 or Hurricane Rita of 2005; or
during the period beginning on September 1, 2008 and ending on January 1, 2009 in a covered area relating to Hurricane Gustav of 2008 or Hurricane Ike of 2008.
Reimbursement by responsible party
The Administrator may present a claim to the responsible party (as defined in section 1001 of the Oil Pollution Act of 1990 (33 U.S.C. 2701)) for costs and expenses described in section 1012(a)(5) of the Oil Pollution Act of 1990 (33 U.S.C. 2712(a)(5)) relating to a waiver of interest under this section for a business suffering a substantial economic injury as a result of the Deepwater Horizon oil spill in accordance with section 1013 of the Oil Pollution Act of 1990 (33 U.S.C. 2713).
Authorization of appropriations
There are authorized to be appropriated to the Administrator such sums as may be necessary to carry out the program.
Termination of program
The Administrator may not approve an application under the program after March 31, 2012.
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Technical and conforming amendment
The table of contents in section 1(b) of the Food, Conservation, and Energy Act of 2008 (Public Law 110–234; 122 Stat. 933) is amended by inserting after the item relating to section 12086 the following:
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