SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Helping Our States Through Tourism 
Act of 2007'' or the ``HOST Act of 2007''.

SEC. 2. FINDINGS.

    Congress finds that--
            (1) in the 12-month period ending on June 30, 2005--
                    (A) tourism was the second largest industry in 
                Louisiana, employing 175,000 workers;
                    (B) tourism was the fifth largest industry in 
                Mississippi, employing 126,500 workers;
                    (C) tourism generated $600,000,000 in State and 
                local taxes in Louisiana;
                    (D) tourism generated $634,000,000 in State and 
                local taxes in Mississippi;
                    (E) tourism had a $9,900,000,000 economic impact in 
                the State of Louisiana;
                    (F) tourism had a $6,350,000,000 economic impact in 
                the State of Mississippi;
                    (G) the State of Louisiana generated $14 in revenue 
                for every dollar the State spent on tourism;
                    (H) the State of Mississippi generated $12 in 
                revenue for every dollar the State spent on tourism;
            (2) Hurricanes Katrina and Rita severely impacted 
        Louisiana's travel and tourism industry, reducing--
                    (A) direct traveler expenditures by more than 18 
                percent between 2004 and 2005, from $9,900,000,000 to 
                $8,100,000,000; and
                    (B) travel-generated employment by 9 percent 
                between 2004 and 2005;
            (3) Hurricane Katrina severely impacted Mississippi's 
        travel and tourism industry, reducing--
                    (A) direct traveler expenditures by more than 18 
                percent between 2004 and 2005, from $6,350,000,000 to 
                $5,200,000,000; and
                    (B) travel-generated employment by nearly 18 
                percent between 2004 and 2005, from 126,500 jobs to 
                103,885 jobs; and
            (4) the Gulf Coast economy cannot fully recover without the 
        revitalization of the tourism industries in Louisiana and 
        Mississippi.

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Administrator.--The term ``Administrator'' means the 
        Administrator of the Small Business Administration.
            (2) Disaster area.--The term ``disaster area'' means the 
        areas in Louisiana and Mississippi in which the President has 
        declared a major disaster in response to Hurricane Katrina or 
        Hurricane Rita.
            (3) Hurricane katrina and rita disaster areas.--The term 
        ``Hurricane Katrina and Rita disaster areas'' means the 
        geographic areas designated as major disaster areas by the 
        President between August 27, 2005, and September 25, 2005, in 
        Alabama, Florida, Louisiana, Mississippi, and Texas pursuant to 
        title IV of the Robert T. Stafford Disaster Relief and 
        Emergency Assistance Act (42 U.S.C. 5121 et seq.).
            (4) Major disaster.--The term ``major disaster'' has the 
        meaning given that term in section 102 of the Robert T. 
        Stafford Disaster Relief and Emergency Assistance Act (42 
        U.S.C. 5122).
            (5) Relevant tourism entities.--The term ``relevant tourism 
        entity'' means any convention and visitors bureau, nonprofit 
        organization, or other tourism organization that the governor 
        of Louisiana or the governor of Mississippi, as the case may 
        be, after consultation with the Secretary of Commerce, 
        determines to be eligible for a grant under section 3.
            (6) Small business concern.--The term ``small business 
        concern'' has the meaning given that term in section 3 of the 
        Small Business Act (15 U.S.C. 632).

SEC. 4. TOURISM RECOVERY GRANTS.

    (a) In General.--The Secretary of Commerce, acting through the 
Assistant Secretary of Commerce for Economic Development, shall 
establish a grant program to assist relevant tourism entities to 
promote travel and tourism in Louisiana and Mississippi in accordance 
with this section.
    (b) Allocation of Funds.--From the amounts appropriated pursuant to 
subsection (f), the Secretary shall allocate, as expeditiously as 
possible--
            (1) $130,000,000 to the State of Louisiana; and
            (2) $45,000,000 to the State of Mississippi.
    (c) Use of Funds.--Amounts allocated to a State under subsection 
(b) shall be used by the State to provide grants to any relevant 
tourism entity to--
            (1) promote travel and tourism in the State; and
            (2) carry out other economic development activities that 
        have been approved by the Secretary of Commerce, in 
        consultation with the State.
    (d) Criteria.--Notwithstanding any other provision of law, a State, 
in awarding grants under subsection (c)--
            (1) may use such criteria as the State determines 
        appropriate; and
            (2) shall not be required to apply eligibility criteria for 
        programs administered by the Federal Government, including the 
        Department of Commerce.
    (e) Administrative Expenses.--Not more than 1 percent of the funds 
allocated to States under subsection (b) may be used for administrative 
expenses.
    (f) Authorization of Appropriations.--There are authorized to be 
appropriated $175,000,000 to carry out this section.

SEC. 5. ECONOMIC INJURY DISASTER LOANS.

    (a) Loan Authorization.--
            (1) In general.--The Administrator may make a loan under 
        section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) 
        to a small business concern located in the disaster area that 
        can demonstrate that--
                    (A) more than 51 percent of the revenue of that 
                small business concern comes from tourism; and
                    (B) such small business concern suffered direct 
                economic injury from the slowdown in travel and tourism 
                in the disaster area following Hurricane Katrina or 
                Hurricane Rita.
            (2) Application.--Notwithstanding any other provision of 
        law, an application for a loan described in paragraph (1) shall 
        be submitted not later than--
                    (A) 18 months after the date of the enactment of 
                this Act; or
                    (B) such later date as the Administrator may 
                establish.
    (b) Authorization of Appropriations.--There are authorized to be 
appropriated such sums as are necessary to carry out this section.

SEC. 6. FEDERAL GULF COAST TRAVEL AND MEETINGS FUND.

    (a) Establishment.--There is established in the Treasury of the 
United States a trust fund, to be known as the Federal Gulf Coast 
Travel and Meetings Fund (referred to in this section as the ``Trust 
Fund''), consisting of such amounts as are appropriated to the Trust 
Fund pursuant to subsection (f) and any interest earned on investment 
of amounts in the Trust Fund pursuant to subsection (b).
    (b) Investment of Trust Fund.--It shall be the duty of the 
Secretary of the Treasury to invest such portion of the Trust Fund that 
is not required to meet current withdrawals. Such investments may only 
be made in interest-bearing obligations of the United States or in 
obligations, whose principal and interest is guaranteed by the United 
States.
    (c) Obligations From Trust Fund.--
            (1) In general.--The Secretary of the Treasury may obligate 
        such sums as are available in the Trust Fund for the purposes 
        described in paragraph (2).
            (2) Eligible uses of trust fund.--Amounts obligated under 
        this subsection may be transferred to Federal agencies to pay 
        for--
                    (A) lodging, meals, travel, and other expenditures 
                associated with conventions, conferences, meetings or 
                other large gatherings attended by not less than 100 
                Federal employees and occurring within the Hurricane 
                Katrina and Rita disaster areas; and
                    (B) other expenditures in the Hurricane Katrina and 
                Rita disaster areas, in accordance with paragraph (3).
            (3) Prohibited uses of trust fund.--Amounts obligated under 
        this subsection may not be transferred to Federal agencies to 
        pay for--
                    (A) Federal investigations;
                    (B) court cases; or
                    (C) events attended by less than 100 Federal 
                employees.
            (4) Other expenditures.--Amounts may not be obligated under 
        paragraph (2)(B) before the date that is 30 days after the 
        Secretary of the Treasury submits a report to the Committee on 
        Appropriations of the Senate and the Committee on 
        Appropriations of the House of Representatives that sets forth 
        the intended uses for such amounts.
    (d) Report.--Not later than December 31, 2007, the Secretary of 
Treasury shall submit a report to the Committee on Appropriations of 
the Senate and the Committee on Appropriations of the House of 
Representatives that sets forth--
            (1) the balance remaining in the Trust Fund;
            (2) the expenditures made from the Trust Fund since its 
        inception;
            (3) information on the applications of the Federal agencies 
        whose requests from the Trust Fund have been denied;
            (4) information on the applications that have been 
        approved, including the amount transferred to each Federal 
        agency and the uses for which such amounts were approved; and
            (5) such additional information as the Committee on 
        Appropriations of the Senate and the Committee on 
        Appropriations of the House of Representatives shall reasonably 
        require.
    (e) Authorization of Appropriations.--There are authorized to be 
appropriated $2,500,000 for fiscal year 2007 to be deposited in the 
Trust Fund.
Helping Our States Through Tourism Act of 2007 or HOST Act of 2007 - Directs the Secretary of Commerce to establish a grant program to assist relevant tourism entities (conventions, visitors bureaus, and other tourism organizations) to promote travel and tourism in Louisiana and Mississippi to negate the effects of Hurricanes Katrina and Rita on travel and tourism there.

Authorizes the Administrator of the Small Business Administration (SBA) to make economic injury disaster loans to small businesses located within disaster areas declared as a result of such hurricanes that suffered economic injury from the slowdown in travel and tourism in such areas after such hurricanes.

Establishes in the Treasury the Federal Gulf Coast Travel and Meetings Fund to pay for lodging, meals, travel, and other expenses associated with conventions, conferences, meetings, etc. attended by no fewer than 100 federal employees and occurring within such disaster areas.
A bill to address ongoing economic injury in Gulf Coast States impacted by Hurricanes Katrina and Rita by reviving tourist travel to the region.