HR 2961 IH

107th CONGRESS

1st Session

H. R. 2961

To authorize the Administrator of the Small Business Administration to make loans under section 7(b)(2) of the Small Business Act to small business concerns and certain other business concerns that suffered substantial economic injury as a result of the terrorist attacks on the United States that occurred on September 11, 2001.

IN THE HOUSE OF REPRESENTATIVES

September 25, 2001

Mr. LAFALCE (for himself, Mrs. MALONEY of New York, Mr. MALONEY of Connecticut, Ms. HOOLEY of Oregon, Ms. LEE, Mr. GONZALEZ, Mr. HINOJOSA, Mr. ROSS, Mr. RANGEL, Mr. BONIOR, Mr. MORAN of Virginia, Mrs. MEEK of Florida, Mr. FERGUSON, Mr. JONES of North Carolina, and Mrs. MORELLA) introduced the following bill; which was referred to the Committee on Small Business

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A BILL

To authorize the Administrator of the Small Business Administration to make loans under section 7(b)(2) of the Small Business Act to small business concerns and certain other business concerns that suffered substantial economic injury as a result of the terrorist attacks on the United States that occurred on September 11, 2001.

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 `Terrorist Disaster Relief for Small Businesses Act'.

SEC. 2. LOANS FOR ECONOMIC INJURY SUFFERED AS A RESULT OF THE TERRORIST ATTACKS ON SEPTEMBER 11, 2001.

(a) IN GENERAL- For purposes of section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)), the Administrator of the Small Business Administration shall treat the terrorist attacks on the United States that occurred on September 11, 2001, as a disaster in response to which the Administrator is authorized to make loans under such section.

(b) AREA AFFECTED- For purposes of making loans described in subsection (a), the entire United States shall be treated as the area affected by the terrorist attacks.

(c) ELIGIBILITY OF OTHER BUSINESS CONCERNS- For purposes of making loans described in subsection (a), the Administrator may, if the Administrator determines it to be necessary and appropriate, waive any size standard established under section 3(a)(2) of the Small Business Act (15 U.S.C. 632(a)(2)) that would otherwise preclude a business concern from being an eligible recipient of a loan under subsection (a).