II 

111TH CONGRESS 

2D SESSION S. 2986 

To authorize the Administrator of the Small Business Administration to 

waive interest for certain loans relating to damage caused by Hurricane 

Katrina, Hurricane Rita, Hurricane Gustav, or Hurricane Ike. 

IN THE SENATE OF THE UNITED STATES 

FEBRUARY 4, 2010 

Ms. LANDRIEU introduced the following bill; which was read twice and 

referred to the Committee on Small Business and Entrepreneurship 

A BILL 

To authorize the Administrator of the Small Business Administration to waive interest for certain loans relating 

to damage caused by Hurricane Katrina, Hurricane Rita, 

Hurricane Gustav, or Hurricane Ike. 

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 ‘‘Southeast Hurricanes 

5 Small Business Disaster Relief Act of 2010’’. 

6 SEC. 2. DEFINITIONS. 

7 In this Act— 


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1 (1) the terms ‘‘Administration’’ and ‘‘Adminis2 trator’’ mean the Small Business Administration 

3 and the Administrator thereof, respectively; 

4 (2) the term ‘‘covered disaster loan’’ means a 

5 loan— 

6 (A) made under section 7(b) of the Small 

7 Business Act (15 U.S.C. 636(b)); 

8 (B) for damage or injury caused by Hurri9 cane Katrina of 2005, Hurricane Rita of 2005, 

10 Hurricane Gustav of 2008, or Hurricane Ike of 

11 2008; and 

12 (C) made to a business located in a de13 clared disaster area; 

14 (3) the term ‘‘declared disaster area’’ means an 

15 area in the State of Louisiana, the State of Mis16 sissippi, or the State of Texas for which the Presi17 dent declared a major disaster under section 401 of 

18 the Robert T. Stafford Disaster Relief and Emer19 gency Assistance Act (42 U.S.C. 5170) relating to 

20 Hurricane Katrina of 2005, Hurricane Rita of 2005, 

21 Hurricane Gustav of 2008, or Hurricane Ike of 

22 2008; 

23 (4) the term ‘‘program’’ means the Southeast 

24 Hurricanes Small Business Disaster Relief Program 

25 established under section 3; and 


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1 (5) the term ‘‘small business concern’’ has the 

2 meaning given that term under section 3(a) of the 

3 Small Business Act (15 U.S.C. 632(a)). 

4 SEC. 3. SOUTHEAST HURRICANES SMALL BUSINESS DIS5 ASTER RELIEF PROGRAM. 

6 (a) PROGRAM ESTABLISHED.—Subject to the avail7 ability of appropriations, the Administrator shall establish 

8 a Southeast Hurricanes Small Business Disaster Relief 

9 Program, under which the Administrator may waive pay10 ment of interest by a business on a covered disaster loan— 

11 (1) for not more than 3 years; and 

12 (2) in a total amount of not more than 

13 $15,000. 

14 (b) PRIORITY OF APPLICATIONS.—The Adminis15 trator shall, to the extent practicable, give priority to an 

16 application for a waiver of interest under the program by 

17 a small business concern— 

18 (1) with not more than 50 employees; or 

19 (2) that resumed business operations in— 

20 (A) a declared disaster area relating to 

21 Hurricane Katrina of 2005 or Hurricane Rita 

22 of 2005, during the period beginning on Sep23 tember 1, 2005, and ending on October 1, 

24 2006; or 


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1 (B) a declared disaster area relating to 

2 Hurricane Gustav of 2008 or Hurricane Ike of 

3 2008, during the period beginning on Sep4 tember 1, 2008, and ending on January 1, 

5 2009. 

6 (c) TERMINATION OF PROGRAM.—The Administrator 

7 may not approve an application under the program after 

8 December 31, 2010. 

9 SEC. 4. AUTHORIZATION OF APPROPRIATIONS. 

10 There are authorized to be appropriated to the Ad11 ministrator such sums as may be necessary to carry out 

12 this Act. 

Æ 


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