Disaster Loan Fairness Act of 2012

Bill: 112-hr-6296
Sponsor: Rep. Barletta, Lou [R-PA-11]
Introduced: 2012-08-02 in the House
Policy area: Commerce
Subjects: Congressional oversight
Disaster relief and insurance
Elections, voting, political campaign regulation
Government lending and loan guarantees
Interest, dividends, interest rates
Political parties and affiliation
Small business

Summary:
action_date: 2012-08-02
text: 
Disaster Loan Fairness Act of 2012 - Amends the Small Business Act to provide the interest rate to be charged by the Small Business Administration (SBA) for loans made to small businesses beginning on January 1, 2011, and ending four years after the date of enactment of this Act in major disaster areas. Requires such rate to be the lesser of 4% or one-half the prevailing rate for similar loans in the area for those unable to attain credit elsewhere, or three-fourths the prevailing rate for those able to attain credit elsewhere. Requires the SBA Administrator to refund excess interest payments made by qualifying borrowers before the enactment of this Act.
 
Directs the Administrator to report to Congress on whether the reduced rate has resulted in: (1) a greater number of applications for disaster-related loans, (2) a greater number of approvals for such loans, or (3) a decreased default rate.

action_date: 2012-09-19
text: 
Disaster Loan Fairness Act of 2012 - Amends the Small Business Act to provide the interest rate to be charged by the Small Business Administration (SBA) for loans made to small businesses beginning on January 1, 2011, and ending four years after the date of enactment of this Act in major disaster areas. Requires such rate to be the lesser of 4% or one-half the prevailing rate for similar loans in the area for those unable to attain credit elsewhere, or three-fourths the prevailing rate for those able to attain credit elsewhere. Requires the SBA Administrator to refund excess interest payments made by qualifying borrowers before the enactment of this Act.
 
Directs the Administrator to report to Congress on whether the reduced rate has resulted in: (1) a greater number of applications for disaster-related loans, (2) a greater number of approvals for such loans, or (3) a decreased default rate.
 
Amends the Internal Revenue Code to prohibit the Secretary of the Treasury, with respect to any presidential election held after 2012, from making any payments from the Presidential Election Campaign Fund (Fund) to any national committee of a political party for political nominating conventions.


Legislative actions:
action_date: 2012-09-20
text: Received in the Senate.
action_date: 2012-09-19
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2012-09-19
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H6115-6116)
action_date: 2012-09-19
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H6115-6116)
action_date: 2012-09-19
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 6296.
action_date: 2012-09-19
text: Considered under suspension of the rules. (consideration: CR H6115-6118)
action_date: 2012-09-19
text: Mr. Barletta moved to suspend the rules and pass the bill, as amended.
action_date: 2012-08-02
text: Referred to the House Committee on Small Business.
action_date: 2012-08-02
text: Introduced in House
action_date: 2012-08-02
text: Introduced in House