I 

117TH CONGRESS 

2D SESSION H. R. 6975 

To amend the Small Business Act to establish a rural manufacturing 

forgivable loan program, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 8, 2022 

Mr. RODNEY DAVIS of Illinois (for himself, Mr. O’HALLERAN, Mr. JOHNSON

of Ohio, Ms. SCHRIER, and Mr. CRAWFORD) introduced the following bill; 

which was referred to the Committee on Small Business 

A BILL 

To amend the Small Business Act to establish a rural manufacturing forgivable loan program, 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 ‘‘Rural Investment in 

5 America Act’’. 

6 SEC. 2. RURAL MANUFACTURING LOANS. 

7 (a) IN GENERAL.—Section 7(a) of the Small Busi8 ness Act (15 U.S.C. 636(a)) is amended— 

9 (1) in paragraph (2)— 


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1 (A) in subparagraph (A), by striking ‘‘and 

2 (F)’’ and inserting ‘‘(F), and (G)’’; and 

3 (B) by adding at the end the following new 

4 subparagraph: 

5 ‘‘(G) PARTICIPATION IN RURAL MANUFAC6 TURING LOANS.—In an agreement to partici7 pate in a loan on a deferred basis under para8 graph (38), the participation by the Adminis9 tration shall be 100 percent.’’; and 

10 (2) by adding at the end the following new 

11 paragraph: 

12 ‘‘(38) RURAL MANUFACTURING LOANS.— 

13 ‘‘(A) IN GENERAL.—The Administrator 

14 may guarantee a loan made under this para15 graph to a covered applicant for the purpose of 

16 paying any eligible costs associated with the de17 velopment of a business concern that manufac18 tures goods essential to critical infrastructure 

19 sectors in rural areas. 

20 ‘‘(B) APPLICATION.—A covered applicant 

21 shall submit an application for a loan under 

22 this paragraph which shall include a com23 prehensive business plan that includes a goal 

24 for the resulting number of jobs to be created 


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1 at the site that will be developed or expanded 

2 with the proceeds of such loan. 

3 ‘‘(C) LOAN FORGIVENESS.—A covered ap4 plicant shall be eligible for forgiveness of any 

5 indebtedness on a loan made under this para6 graph as follows: 

7 ‘‘(i) If the covered applicant has met 

8 75 percent or more of the job creation 

9 goals of the comprehensive business plan 

10 described in subparagraph (B) not later 

11 than 5 years after the date of origination 

12 of the loan. 

13 ‘‘(ii) If the Administrator makes a de14 termination that the covered applicant only 

15 used loan proceeds for eligible costs, the 

16 covered applicant shall receive loan forgive17 ness in an amount— 

18 ‘‘(I) less than or equal to an 

19 amount that is 50 percent of the total 

20 financing amount specified by the cov21 ered applicant; and 

22 ‘‘(II) less than or equal to max23 imum amount allowable under para24 graph (3)(A). 


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1 ‘‘(D) IDENTIFICATION OF ADDITIONAL

2 CRITICAL INFRASTRUCTURE SECTORS.— 

3 ‘‘(i) STUDY.—Not later than 180 days 

4 after the date of enactment of this para5 graph, the Administrator shall complete a 

6 study to identify any additional sectors to 

7 be included in the definition of the term 

8 ‘critical infrastructure sector’ under this 

9 paragraph. 

10 ‘‘(ii) PROVISION OF LOANS PRIOR TO

11 COMPLETION OF STUDY.—The Adminis12 trator may guarantee a loan made under 

13 this paragraph before the completion of the 

14 study required under clause (i). 

15 ‘‘(iii) ADDITIONAL CRITICAL INFRA16 STRUCTURE SECTORS.—The Administrator 

17 may, at any time, take such actions as are 

18 necessary to identify additional sectors to 

19 be included in the definition of the term 

20 ‘critical infrastructure sector’ under this 

21 paragraph. 

22 ‘‘(E) DEFINITIONS.—In this paragraph: 

23 ‘‘(i) COVERED APPLICANT.—The term 

24 ‘covered applicant’ means a business 

25 that— 


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1 ‘‘(I) has a site located in rural 

2 area industrial park, manufactures 

3 goods that are essential to critical in4 frastructure sectors at such site, and 

5 intends to expand such site for pur6 poses of employing a larger workforce 

7 at such site; or 

8 ‘‘(II) is developing a site located 

9 in a rural area industrial park to 

10 manufacture goods that are essential 

11 to critical infrastructure sectors at 

12 such site. 

13 ‘‘(ii) CRITICAL INFRASTRUCTURE SEC14 TOR.—The term ‘critical infrastructure 

15 sector’ means— 

16 ‘‘(I) each of the 16 critical infra17 structure sectors designated in Presi18 dential Policy Directive 21, titled 

19 ‘Critical Infrastructure Security and 

20 Resilience’ and published on February 

21 12, 2013; 

22 ‘‘(II) any additional sectors iden23 tified pursuant to section 9002 of the 

24 National Defense Authorization Act 


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1 for Fiscal Year 2021 (6 U.S.C. 652a); 

2 and 

3 ‘‘(III) any additional sectors the 

4 Administrator identifies under sub5 paragraph (C). 

6 ‘‘(iii) ELIGIBLE COSTS.—The term ‘el7 igible costs’ means— 

8 ‘‘(I) payroll, construction, permit9 ting, and other capital costs associ10 ated with— 

11 ‘‘(aa) the development of a 

12 site located in a rural area indus13 trial park for a business that 

14 manufactures goods that are es15 sential to critical infrastructure 

16 sectors at such site; and 

17 ‘‘(bb) the expansion of such 

18 a site for purposes of employing 

19 a larger workforce at such site; 

20 and 

21 ‘‘(II) any other costs the Admin22 istrator determines to be appro23 priate.’’. 

24 (b) AUTHORIZATION OF APPROPRIATIONS.—There is 

25 authorized to be appropriated to the Administrator of the 


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1 Small Business Administration $2,000,000,000, which 

2 shall be authorized to remain available until expended, to 

3 carry out paragraph (38) of section 7(a) of the Small 

4 Business Act (15 U.S.C. 636(a)), as added by subsection 

5 (a). 

Æ 


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