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To amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes.
To amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes.
Summary
This bill would amend the Small Business Act to provide relief on federal disaster loans made after the bill's enactment. For the first 12 months after a disaster loan is disbursed, the bill would set the interest rate to zero percent and defer all principal payments. These provisions would apply only to loans issued in response to disasters declared on or after the date the bill becomes law.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Neguse, Joe [D-CO-2] (D-CO)
2 cosponsors
- Rep. Ciscomani, Juan [R-AZ-6] (R-AZ)
- Rep. Nunn, Zachary [R-IA-3] (R-IA)
Money behind the sponsor
Top reported contributors to Joe Neguse’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- BROWNSTEIN HYATT FARBER SCHRECK $31,726
- HOLLAND & HART $17,400
- ELEVATIONS CREDIT UNION $14,600
- FOUNDRY GROUP $14,200
- DISH NETWORK $13,200
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Joe Neguse → · Outside spending →
Actions (2)
- May 21, 2025 Referred to the House Committee on Small Business. · house
- May 21, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
May 21, 2025
Mr. Neguse (for himself and Mr. Ciscomani) introduced the following bill; which was referred to the Committee on Small Business
A BILL
To amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. WAIVER OF INTEREST ACCRUAL AND PAYMENTS FOR CERTAIN DISASTER LOANS.
Section 7(d) of the Small Business Act (15 U.S.C. 636(d)) is amended by adding at the end the following paragraph:
“(9) Waiver of interest accrual and payments.—With respect to a loan made under subsection (b) for disasters declared on or after the date of the enactment of this paragraph, the Administrator shall, for the 12-month period beginning on the date of disbursement of such loan—
“(A) establish a rate of interest on such loan of zero percent; and
“(B) defer payments during such period on the principal of such loan.”. <all>
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