Small Business Economic Recovery Act of 2001

Small Business Economic Recovery Act of 2001 - Authorizes the Administrator of the Small Business Administration to make loans under disaster loan provisions of the Small Business Act to any small business determined to have suffered a substantial economic injury. States that, with respect to such loans: (1) no declaration of a disaster area is required; and (2) no determination that the business suffered economic injury as the result of a disaster is required.

Prohibits any such loan after September 11, 2002.

[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3350 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 3350

   To temporarily authorize the Administrator of the Small Business 
Administration to make loans to any small business concern that suffers 
                      substantial economic injury.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 27, 2001

   Mrs. Mink of Hawaii (for herself and Ms. Woolsey) introduced the 
 following bill; which was referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
   To temporarily authorize the Administrator of the Small Business 
Administration to make loans to any small business concern that suffers 
                      substantial economic injury.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Economic Recovery Act 
of 2001''.

SEC. 2. TEMPORARY DISASTER LOAN AUTHORITY.

    (a) In General.--The Administrator of the Small Business 
Administration may make loans under section 7(b)(2) of the Small 
Business Act (15 U.S.C. 636(b)(2)) to any small business concern (as 
defined in section 3(a) of the Small Business Act (15 U.S.C. 632(a))) 
that the Administrator determines has suffered a substantial economic 
injury.
    (b) Special Rules.--Notwithstanding the requirements of section 
7(b) of the Small Business Act (15 U.S.C. 636(b)), the following 
special rules apply to loans described in subsection (a):
            (1) No disaster declaration required.--No declaration of a 
        disaster area is required with respect to such loans.
            (2) No result of disaster requirement.--No determination 
        that the concern suffered economic injury as the result of a 
        disaster is required with respect to such loans.
    (c) Termination.--The Administrator may not make a loan pursuant to 
the special rules of this section after September 11, 2002.
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