Disaster Loan Fairness Act of 2013

Disaster Loan Fairness Act of 2013 - Amends the Small Business Act to provide the interest rate to be charged by the Small Business Administration (SBA) for loans made to small businesses 30 days after the date of enactment of this Act or later in major disaster areas. Requires such rate to be the lesser of 4% or one-half the prevailing rate for similar loans in the area for those unable to attain credit elsewhere, or three-fourths the prevailing rate for those able to attain credit elsewhere.

Directs the Administrator to report to Congress on whether the reduced rate has resulted in: (1) a greater number of applications for disaster-related loans, (2) a greater number of approvals for such loans, or (3) a decreased default rate.

Amends the Internal Revenue Code to prohibit the Secretary of the Treasury, with respect to any presidential election held after 2012, from making any payments from the Presidential Election Campaign Fund (Fund) to any national committee of a political party for political nominating conventions.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2857 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 2857

   To amend the Small Business Act to provide the interest rate for 
        certain disaster related loans, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 30, 2013

 Mr. Barletta introduced the following bill; which was referred to the 
Committee on Small Business, and in addition to the Committee on House 
   Administration, 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 amend the Small Business Act to provide the interest rate for 
        certain disaster related 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. SHORT TITLE.

    This Act may be cited as the ``Disaster Loan Fairness Act of 
2013''.

SEC. 2. INTEREST RATE FOR CERTAIN DISASTER RELATED LOANS.

    Section 7(d) of the Small Business Act is amended by adding at the 
end the following:
    ``(8)(A) Upon application, the Administration shall grant an 
interest rate determined under this paragraph with respect to any 
qualifying disaster loan.
    ``(B) For the purposes of this paragraph a qualifying disaster loan 
is the Administration's share of a loan--
            ``(i) for which the interest rate would be set pursuant to 
        paragraph (5) but for the operation of this paragraph;
            ``(ii) which is or was made with respect to activity in an 
        area when the President has declared a major disaster in that 
        area under section 401 of the Stafford Act; and
            ``(iii) which is or was made 30 days after the date of the 
        enactment of this paragraph or later.
    ``(C) The Administrator shall determine the interest rate for each 
calendar year to be the lesser of--
            ``(i) 4 percent; and
            ``(ii) a rate equivalent to \1/2\ the rate prevailing in 
        the private market for similar loans for those unable to attain 
        credit elsewhere and \3/4\ of that prevailing rate for those 
        able to attain credit elsewhere.
    ``(D) Not later than one year after the date of the enactment of 
the Disaster Loan Fairness Act of 2013, the Administrator shall report 
to Congress as part of the annual report under section 10(a) on whether 
the interest rate provided by this paragraph has resulted in any or all 
of the following:
            ``(i) A greater number of applications for disaster related 
        loans.
            ``(ii) A greater number of approvals of disaster related 
        loans.
            ``(iii) A decreased default rate on disaster related 
        loans.''.

SEC. 3. TERMINATION OF USE OF PUBLIC FUNDS FOR POLITICAL PARTY 
              NOMINATING CONVENTIONS.

    Section 9008 of the Internal Revenue Code of 1986 is amended by 
adding at the end the following new subsection:
    ``(i) Termination of Use of Funds for Conventions.--Notwithstanding 
any other provision of this section, in the case of any Presidential 
election held after 2012--
            ``(1) the Secretary shall not make any payments under 
        subsection (b)(3) to any national committee of a major party or 
        minor party;
            ``(2) on November 1 of the year prior to the year in which 
        the election is held, the Secretary shall determine--
                    ``(A) in the case of the first such election, the 
                amount which is equal to the aggregate amount of the 
                payments which were made under subsection (b)(3) to the 
                national committees of a major party or minor party for 
                the Presidential election held in 2012, adjusted in the 
                manner described in subsection (b)(5), or
                    ``(B) in the case of any subsequent election, the 
                amount which is equal to the amount determined under 
                subparagraph (A), adjusted in the manner described in 
                subsection (b)(5); and
            ``(3) at the time the Secretary makes the determination 
        under paragraph (2), an amount equal to the amount determined 
        under paragraph (2) shall be permanently rescinded from the 
        fund and returned to the general fund.''.
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