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United States · Bill · HR

H.R. 2583 (98th)

A bill to amend the Small Business Act to improve assistance to victims of disasters.

reportedUnited States· United States Congress· EN

Introduced

18 April 1983

Last action

10 May 1983 · Committee

Status

Ordered to be Reported (Amended).

Sponsors

Rep. Mitchell, Parren J. [D-MD-7], Rep. Smith, Neal Edward [D-IA-4], Rep. de la Garza, E. [D-TX-15], Rep. Howard, James J. [D-NJ-3], Del. de Lugo, Ron [D-VI-At Large], Rep. Torres, Esteban Edward [D-CA-34], Rep. Kastenmeier, Robert W. [D-WI-2], Del. Won Pat, Antonio B. [D-GU-At Large], Rep. Luken, Thomas A. [D-OH-1], Rep. Ottinger, Richard L. [D-NY-20], Rep. Roe, Robert A. [D-NJ-8], Rep. Clay, William (Bill) [D-MO-1], Rep. Bates, Jim [D-CA-44], Rep. Frank, Barney [D-MA-4], Rep. Boggs, Corinne C. (Lindy) [D-LA-2], Rep. Stokes, Louis [D-OH-11], Rep. Leland, Mickey [D-TX-18], Rep. Dwyer, Bernard J. [D-NJ-6], Rep. Panetta, Leon [D-CA-16], Del. Fauntroy, Walter E. [D-DC-At Large], Rep. Oberstar, James L. [D-MN-8], Rep. Crockett, George W., Jr. [D-MI-13], Rescom. Corrada, Baltasar [I-PR-At Large], Rep. Harrison, Frank [D-PA-11], Rep. Feighan, Edward F. [D-OH-19], Del. Sunia, Foto I. F. [D-AS-At Large], Rep. Biaggi, Mario [D-NY-19], Sen. Simon, Paul [D-IL], Rep. Gray, William H., III [D-PA-2], Rep. Ford, Harold E. [D-TN-9], Rep. Coelho, Anthony Lee [D-CA-15], Rep. Hertel, Dennis M. [D-MI-14], Rep. Edgar, Robert W. [D-PA-7], Rep. Bosco, Douglas H. [D-CA-1], Rep. Fazio, Vic [D-CA-3], Rep. Solarz, Stephen J. [D-NY-13], Rep. Tallon, Robert M. (Robin) [D-SC-6], Rep. Levine, Mel [D-CA-27], Rep. Fish, Hamilton, Jr. [R-NY-19], Rep. Morrison, Bruce A. [D-CT-3], Sen. Boxer, Barbara [D-CA], Rep. Martinez, Matthew G. [D-CA-31]

Subjects

Discovery layer

Source updated

7 February 2024

Official sourceView documentsShare

Summary

Amends the Small Business Act to specify the maximum interest rate on disaster loans made by the Small Business Administration (SBA) to homeowners or small businesses for disasters commencing on or after October 1, 1982. Provides that such loans, subject to reductions in insurance payments received by a loan applicant, shall cover 100 percent of the loss suffered. Limits such loans to $500,000 per disaster, unless a loan applicant is a major source of employment in the disaster area, in which case such limitation may be waived at the discretion of the Administrator of the SBA. Requires the interest rate for such loans to be the rate that is in effect when the disaster commenced. Prohibits the SBA, subject to reductions for insurance payments received by a loan applicant, from reducing the amount of such loans for homeowners to less than $100,000 for loss of real property or $20,000 for personal property. Provides that upon presentation by a loan applicant of proof of loss, damage or injury, the SBA will cancel a portion of the principal of any loan used to cover damage to real property that is occupied as a primary residence or personal property contained therein resulting from a disaster commencing on or after October 1, 1982. Specifies the portion of the loan principal to be cancelled for certain loan amounts. Authorizes funds to the SBA for FY 1984 for direct loans to small businesses for facility rehabilitation and for disaster relief. Extends for one year the prohibition on disaster loan assistance by the SBA to agricultural enterprises.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 18 April 1983

    Introduced

    Referred to House Committee on Small Business.

    Source: IntroReferral

  2. 18 April 1983

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 18 April 1983

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 20 April 1983

    Referred

    Referred to Subcommittee on SBA & SBIC Authority, Minority Enterprise, and General Small Business Problems.

    Source: Committee

  5. 24 April 1983

    Committee

    Subcommittee Hearings Held.

    Source: Committee

  6. 4 May 1983

    Committee

    Forwarded by Subcommittee to Full Committee (Amended).

    Source: Committee

  7. 4 May 1983

    Committee

    Subcommittee Consideration and Mark-up Session Held.

    Source: Committee

  8. 10 May 1983

    Reported

    Ordered to be Reported (Amended).

    Source: Committee

  9. 10 May 1983

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

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Sponsors

Related records

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Sources

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