Funding Small Businesses During Shutdown Act

Bill: 118-hr-7473
Sponsor: full_name: Rep. Schiff, Adam B. [D-CA-30]
Introduced: 2024-02-28
Policy area: Commerce
Latest action: action_date: 2024-02-28
text: Referred to the House Committee on Appropriations.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 7473 IN THE HOUSE OF REPRESENTATIVES February 28, 2024 Mr. Schiff (for himself, Mr. Thanedar , Mrs. Foushee , and Mr. Castro of Texas ) introduced the following bill; which was referred to the Committee on Appropriations A BILL To ensure continued appropriations for certain Small Business Administration programs during a Government shutdown in fiscal year 2024, and for other purposes.

1. Short title This Act may be cited as the Funding Small Businesses During Shutdown Act . 2. Continuation of certain Small Business Administration programs during a Government shutdown There are appropriated for fiscal year 2024, out of any money in the Treasury not otherwise appropriated, during any period of a lapse in discretionary appropriations with respect to the Small Business Administration during such fiscal year beginning on or after the date of the enactment of this section, for any 30-day period of such lapse (and on a pro-rated basis if such lapse is less than 30 days) to pay for the salaries and expenses necessary to continue servicing any loans made under— (1) $500,000 for loans made under subsection (m) of section 7 of the Small Business Act ( 15 U.S.C. 636(m) ); (2) $2,916,666,667 for loans made under subsection (a) of section 7 of the Small Business Act ( 15 U.S.C. 636(a) ); (3) $1,250,000,000 for loans made under title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. ); and (4) $13,775,000 for administrative expenses to carry out the loan program under subsection (m) of section 7 of the Small Business Act ( 15 U.S.C. 636(m) ).