CREED Act of 2013

Bill: 113-s-289
Sponsor: full_name: Sen. Landrieu, Mary L. [D-LA]
Introduced: 2013-02-12
Policy area: Commerce
Subjects: Government lending and loan guarantees

Small business
Latest action: action_date: 2013-09-10
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 167.

Summaries:
action_date: 2013-02-12
action_desc: Introduced in Senate
text: <p>Commercial Real Estate and Economic Development Act of 2013 or CREED Act of 2013 - Reinstates for a five-year period beginning on the date of enactment of this Act the authority for Small Business Administration (SBA) low-interest refinancing of small business debt not involving business expansion under the SBA's local development business loan program.</p> <p>Repeals a provision of the Small Business Jobs Act of 2010 which terminated such authority as of September 27, 2012.</p>

action_date: 2013-09-10
action_desc: Reported to Senate with amendment(s)
text: <p>Commercial Real Estate and Economic Development Act of 2013 or CREED Act of 2013 - Reinstates the authority for Small Business Administration (SBA) low-interest refinancing of small business debt not involving business expansion under the SBA's local development business loan program during any fiscal year in which the cost to the federal government for making loan guarantees under such program is zero.</p> <p>Repeals a provision of the Small Business Jobs Act of 2010 which terminated such authority as of September 27, 2012.</p>

tv_txt: II 113th CONGRESS 1st Session S. 289 IN THE SENATE OF THE UNITED STATES February 12, 2013 Ms. Landrieu (for herself and Mrs. Shaheen ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To extend the low-interest refinancing provisions under the Local Development Business Loan Program of the Small Business Administration.

1. Short title This Act may be cited as the “ Commercial Real Estate and Economic Development Act of 2013 ” or the CREED Act of 2013 . 2. Low-interest refinancing under the Local Development Business Loan Program (a) Repeal Section 1122(b) of the Small Business Jobs Act of 2010 ( 15 U.S.C. 696 note) is repealed. (b) Restoration of low-Interest refinancing provision Subparagraph (C) of section 502(7) of the Small Business Investment Act of 1958 ( 15 U.S.C. 696(7) ) (relating to refinancing not involving expansions), as in effect on September 25, 2012, shall be in effect during the period beginning on the date of enactment of this Act and ending 5 years after that date of enactment.

tv_txt: II Calendar No. 167 113th CONGRESS 1st Session S. 289 [Report No. 113–89] IN THE SENATE OF THE UNITED STATES February 12, 2013 Ms. Landrieu (for herself, Mrs. Shaheen , Mrs. McCaskill , Mr. Isakson , Mr. Cardin , Mr. Cowan , Mrs. Hagan , Mr. King , and Mr. Johnson of South Dakota ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship September 10, 2013 Reported by Ms. Landrieu , with an amendment Omit the part struck through and insert the part printed in italic A BILL To extend the low-interest refinancing provisions under the Local Development Business Loan Program of the Small Business Administration.

1. Short title This Act may be cited as the “ Commercial Real Estate and Economic Development Act of 2013 ” or the CREED Act of 2013 . 2. Low-interest refinancing under the Local Development Business Loan Program (a) Repeal Section 1122(b) of the Small Business Jobs Act of 2010 ( 15 U.S.C. 696 note) is repealed. (b) Restoration of low-Interest refinancing provision Subparagraph (C) of section 502(7) of the Small Business Investment Act of 1958 ( 15 U.S.C. 696(7) ) (relating to refinancing not involving expansions), as in effect on September 25, 2012, shall be in effect during the period beginning on the date of enactment of this Act and ending 5 years after that date of enactment. on and after the date of enactment of this Act, in any fiscal year during which the cost to the Federal Government of making guarantees under section 502 of the Small Business Investment Act of 1958 is zero.

September 10, 2013 Reported with an amendment