I
113th CONGRESS
1st Session
H. R. 1240
IN THE HOUSE OF REPRESENTATIVES
March 18, 2013
Ms. Chu (for herself, Ms. Meng, Mr. Payne, Mrs. Negrete McLeod, Ms. Bordallo, Mr. Schrader, Ms. Tsongas, Mr. Petri, and Mr. Bera of California) introduced the following bill; which was referred to the Committee on Small Business
A BILL
To extend the low-interest refinancing provisions under the Local Development Business Loan Program of the Small Business Administration.
Short title
This Act may be cited as the
Commercial Real Estate and Economic
Development Act of 2013
or the CREED Act of 2013
.
Low-interest refinancing under the local development business loan program
Repeal
Section 1122(b) of the Small Business Jobs Act of 2010 (15 U.S.C. 696 note) is repealed.
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 such date of enactment.
No additional appropriations authorized
The amendments made by section 2 do not authorize any appropriations for the purpose of carrying out such amendment or the program it amends.