A bill to provide temporary authority to the Administrator of the Small Business Administration to facilitate water conservation practices and emergency actions to mitigate the impacts of the 1976-77 drought.
Small Business Emergency Drought Disaster Loan Act - Authorizes the Small Business Administration to provide emergency drought assistance loans, at five percent interest per annum for a period up to 30 years, to assist small business concerns to overcome the effects of actual or prospective substantial economic injury resulting from the 1976-1977 drought. Requires an actual or expected decrease in business activity of at least 20 percent below normal levels as a condition of eligibility. Allows provisions of this Act to apply to an area newly designated as an emergency droughts impact area by the Administrator.
Introduced in Senate
Referred to Senate Select Committee on Small Business.
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