Amendment increases the maximum amount of stabilization loans in high unemployment areas to $75,000; delays repayment of stabilization loans in high unemployment areas for up to 18 months for new loans made after enactment of the bill and gives the SBA administrator authority to designate high unemployment areas as eligible for operating assistance grants under the new market venture capital program.

Ask AI
Amendment Number
489
Description
Amendment increases the maximum amount of stabilization loans in high unemployment areas to $75,000; delays repayment of stabilization loans in high unemployment areas for up to 18 months for new loans made after enactment of the bill and gives the SBA administrator authority to designate high unemployment areas as eligible for operating assistance grants under the new market venture capital program.
Purpose
An amendment numbered 13 printed in Part B of House Report 111-317 to increase the maximum amount of stabilization loans in high unemployment areas to $75,000 and delays repayment of stabilization loans in high unemployment areas to 18 months for new loans made after enactment of this act. It would give the SBA administrator ability to designate high unemployment areas as eligible for operating assistance grants under the new market venture capital program.
Congress
111
Type
HAMDT
Latest Action Date
Oct 29, 2009
Latest Action Text
On agreeing to the Peters amendment (A013) Agreed to by voice vote.
Latest Action Time
16:29:49
Submitted Date
Oct 29, 2009
Chamber
House of Representatives
Update Date
Dec 5, 2020
Amendment 489 — Informed