To establish a standard interest rate under programs for economic injury disaster loans, and for other purposes.

I 116TH CONGRESS 2D SESSION H. R. 6346 To establish a standard interest rate under programs for economic injury disaster loans, and for other purposes. IN THE HOUSE OF REPRESENTATIVES MARCH 23, 2020 Mr. GALLEGO introduced the following bill; which was referred to the Committee on Small Business A BILL To establish a standard interest rate under programs for economic injury disaster loans, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. INTEREST RATE FOR ECONOMIC INJURY DIS- 3 ASTER LOANS. 4 Notwithstanding any other provision of law, the inter- 5 est rate chargeable under any loan made after the date 6 of the enactment of this Act under section 7(b)(2) of the 7 Small Business Act (15 U.S.C. 636(b)(2)) shall be the 8 lesser of— 9 VerDate Sep 11 2014 20:29 Apr 09, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H6346.IH H6346 khammond on DSKJM1Z7X2PROD with BILLS 2 •HR 6346 IH (1) the interest rate otherwise chargeable under 1 such program; or 2 (2) the interest rate payable on the most-re- 3 cently issued marketable obligations of the United 4 States having a maturity of 10 years, as determined 5 for purposes of this section by the Secretary of the 6 Treasury. 7 Æ VerDate Sep 11 2014 23:02 Apr 08, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H6346.IH H6346 khammond on DSKJM1Z7X2PROD with BILLS