A bill to authorize the Small Business Administration to provide financial and business development assistance to military reservists' small businesses, and for other purposes.
Military Reservists Small Business Relief Act - Amends the Small Business Act to direct the Small Business Administration (the Administration) to defer, upon request, repayment on any direct loan incurred by specified reservists prior to being ordered to active duty in the U.S. armed forces. Provides that during the deferral period no interest will accrue.
Prescribes guidelines for disaster loan assistance to small businesses for economic injury caused by a military call-up of the owner, manager, or key employee of such business.
Directs the Administration to use all its business development and management assistance programs (including State and private sector partners) to provide business counseling and training to small businesses adversely affected by the deployment of armed forces units in military or emergency situations.
States that for purposes of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act) all direct and discretionary spending contained in this Act are emergency expenditures related to Operation Desert Shield, Operation Desert Storm, or any successor thereto.
Introduced in Senate
Read twice and referred to the Committee on Small Business.
Committee on Small Business. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Small Business. Reported to Senate by Senator Bumpers with an amendment in the nature of a substitute. Without written report.
Committee on Small Business. Reported to Senate by Senator Bumpers with an amendment in the nature of a substitute. Without written report.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 27.
Indefinitely postponed by Senate by Unanimous Consent.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line