S. 3672 · 112th Congress
A bill to clarify the collateral requirement for certain loans under section 7(d) of the Small Business Act…
Full title
A bill to clarify the collateral requirement for certain loans under section 7(d) of the Small Business Act, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LandrieuSponsorNo cosponsors.
Amends the Small Business Act to prohibit the Administrator of the Small Business Administration (SBA), in obtaining the best available collateral for a disaster loan of not more than $200,000 relating to damage to or destruction of property or economic injury to a small business, from requiring the small business owner to use his or her primary residence…
What it does: CRS summary · Introduced in Senate · Dec 12, 2012
Amends the Small Business Act to prohibit the Administrator of the Small Business Administration (SBA), in obtaining the best available collateral for a disaster loan of not more than $200,000 relating to damage to or destruction of property or economic injury to a small business, from requiring the small business owner to use his or her primary residence as collateral if the Administrator determines that the owner has other assets with a value equal to or greater than the loan amount that could be used as collateral.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to clarify the collateral requirement for certain loans under section 7(d) of the Small Business Act, and for other purposes.
Latest action (Dec 13, 2012): Committee on Small Business and Entrepreneurship. Hearings held.
Policy area: Commerce · Origin: Senate · Introduced: Dec 12, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.