I 

113TH CONGRESS 

1ST SESSION H. R. 2857 

To amend the Small Business Act to provide the interest rate for certain 

disaster related loans, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JULY 30, 2013 

Mr. BARLETTA introduced the following bill; which was referred to the Committee on Small Business, and in addition to the Committee on House 

Administration, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned 

A BILL 

To amend the Small Business Act to provide the interest 

rate for certain disaster related loans, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Disaster Loan Fair5 ness Act of 2013’’. 


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1 SEC. 2. INTEREST RATE FOR CERTAIN DISASTER RELATED 

2 LOANS. 

3 Section 7(d) of the Small Business Act is amended 

4 by adding at the end the following: 

5 ‘‘(8)(A) Upon application, the Administration shall 

6 grant an interest rate determined under this paragraph 

7 with respect to any qualifying disaster loan. 

8 ‘‘(B) For the purposes of this paragraph a qualifying 

9 disaster loan is the Administration’s share of a loan— 

10 ‘‘(i) for which the interest rate would be set 

11 pursuant to paragraph (5) but for the operation of 

12 this paragraph; 

13 ‘‘(ii) which is or was made with respect to activ14 ity in an area when the President has declared a 

15 major disaster in that area under section 401 of the 

16 Stafford Act; and 

17 ‘‘(iii) which is or was made 30 days after the 

18 date of the enactment of this paragraph or later. 

19 ‘‘(C) The Administrator shall determine the interest 

20 rate for each calendar year to be the lesser of— 

21 ‘‘(i) 4 percent; and 

‘‘(ii) a rate equivalent to 1 22 ⁄2 the rate prevailing 

23 in the private market for similar loans for those unable to attain credit elsewhere and 3 24 ⁄4 of that pre25 vailing rate for those able to attain credit elsewhere. 


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1 ‘‘(D) Not later than one year after the date of the 

2 enactment of the Disaster Loan Fairness Act of 2013, the 

3 Administrator shall report to Congress as part of the an4 nual report under section 10(a) on whether the interest 

5 rate provided by this paragraph has resulted in any or 

6 all of the following: 

7 ‘‘(i) A greater number of applications for dis8 aster related loans. 

9 ‘‘(ii) A greater number of approvals of disaster 

10 related loans. 

11 ‘‘(iii) A decreased default rate on disaster re12 lated loans.’’. 

13 SEC. 3. TERMINATION OF USE OF PUBLIC FUNDS FOR PO14 LITICAL PARTY NOMINATING CONVENTIONS. 

15 Section 9008 of the Internal Revenue Code of 1986 

16 is amended by adding at the end the following new sub17 section: 

18 ‘‘(i) TERMINATION OF USE OF FUNDS FOR CONVEN19 TIONS.—Notwithstanding any other provision of this sec20 tion, in the case of any Presidential election held after 

21 2012— 

22 ‘‘(1) the Secretary shall not make any pay23 ments under subsection (b)(3) to any national com24 mittee of a major party or minor party; 


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1 ‘‘(2) on November 1 of the year prior to the 

2 year in which the election is held, the Secretary shall 

3 determine— 

4 ‘‘(A) in the case of the first such election, 

5 the amount which is equal to the aggregate 

6 amount of the payments which were made 

7 under subsection (b)(3) to the national commit8 tees of a major party or minor party for the 

9 Presidential election held in 2012, adjusted in 

10 the manner described in subsection (b)(5), or 

11 ‘‘(B) in the case of any subsequent elec12 tion, the amount which is equal to the amount 

13 determined under subparagraph (A), adjusted 

14 in the manner described in subsection (b)(5); 

15 and 

16 ‘‘(3) at the time the Secretary makes the deter17 mination under paragraph (2), an amount equal to 

18 the amount determined under paragraph (2) shall be 

19 permanently rescinded from the fund and returned 

20 to the general fund.’’. 

Æ 


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