S. 2482 · 109th Congress
Gulf Coast Open for Business Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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Gulf Coast Open for Business Act of 2006 - Authorizes appropriations for grants to appropriate state agencies in Louisiana, Alabama, Mississippi, Texas, and Florida for state bridge loan programs in response to economic disruption caused by Hurricanes Katrina, Rita, or Wilma (hurricanes) in 2005.
What it does: CRS summary · Introduced in Senate · Mar 30, 2006
Gulf Coast Open for Business Act of 2006 - Authorizes appropriations for grants to appropriate state agencies in Louisiana, Alabama, Mississippi, Texas, and Florida for state bridge loan programs in response to economic disruption caused by Hurricanes Katrina, Rita, or Wilma (hurricanes) in 2005.
Requires the Administrator of the Small Business Administration (SBA) to hire a full-time international finance specialist for the SBA's Office of International Trade to help carry out export promotion efforts in Louisiana, Mississippi, Alabama, and Arkansas.
Amends the Small Business Act to waive grant limits in the case of grants made to small business development centers for assisting small businesses affected by the hurricanes. Authorizes the SBA to: (1) allow qualified lenders to process disaster loans and to verify loan losses; (2) make loans to nonprofit organizations that were negatively impacted by the hurricanes or are providing services to persons negatively impacted; and (3) make loans to any small business in the United States negatively impacted by the hurricanes. Provides for the deferred payment of disaster loans. Requires the Administrator to provide daily updates to Congress on the operation of SBA disaster loans in presidentially declared disaster areas.
Requires the Administrator and the head of each federal agency making procurements related to relief, recovery, and reconstruction in areas affected by the hurricanes to set a goal for small business subcontracts with respect to such procurements. Requires the use of local firms and individuals in the use of federal funds for debris clearance, distribution of supplies, reconstruction, and other emergency assistance activities in hurricane-affected areas. Directs the Administrator to submit to the congressional small business committees a 2006 Atlantic hurricane season disaster response plan.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Gulf Coast Open for Business Act of 2006
Latest action (Mar 30, 2006): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: Mar 30, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.