To amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes.

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3557 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 3557

 To amend the Small Business Act to waive the accrual of interest and 
payments for certain disaster loans for a year, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 21, 2025

  Mr. Neguse (for himself and Mr. Ciscomani) introduced the following 
      bill; which was referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
 To amend the Small Business Act to waive the accrual of interest and 
payments for certain disaster loans for a year, 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. WAIVER OF INTEREST ACCRUAL AND PAYMENTS FOR CERTAIN DISASTER 
              LOANS.

    Section 7(d) of the Small Business Act (15 U.S.C. 636(d)) is 
amended by adding at the end the following paragraph:
            ``(9) Waiver of interest accrual and payments.--With 
        respect to a loan made under subsection (b) for disasters 
        declared on or after the date of the enactment of this 
        paragraph, the Administrator shall, for the 12-month period 
        beginning on the date of disbursement of such loan--
                    ``(A) establish a rate of interest on such loan of 
                zero percent; and
                    ``(B) defer payments during such period on the 
                principal of such loan.''.
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