ABSTRACT

Congressional Budget Office Cost Estimate: H.R. 1361, RECOVER Act   [open pdf - 25KB]

This is the Congressional Budget Office (CBO) Cost Estimate as ordered reported by the House Committee on Small Business on March 15, 2007. From the Summary: "H.R. 1361 would make various changes to existing and future loans made by the Small Business Administration (SBA) in response to a disaster. Those changes would increase the cost of assistance that SBA will provide after future disasters, and also would increase the cost of certain loans SBA has already made or obligated. In addition, the bill would: increase the maximum loan that can be made for certain categories of individuals and businesses for hazard mitigation purposes; authorize SBA to guarantee disaster bridge loans to businesses; establish a program to authorize certain types of private lenders to process, approve, disburse, and service SBA disaster loans; and create a grant program for small businesses affected by the 2005 Gulf Coast hurricanes. Moreover, the bill would expand the Economic Injury Disaster Loan (EIDL) program to include private, nonprofit organizations."

Publisher:
Date:
2007-03-29
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Copyright:
Public Domain
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