Small Business Drought Relief Act
Last action on Nov 20, 2002Sponsor introductory remarks on measure. (CR S11546-11547)
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Summary
Small Business Drought Relief Act - Amends the Small Business Act to include within the definition of "disaster," for purposes of disaster loans provided to small businesses through the Small Business Administration (SBA), droughts and below average water levels in the Great Lakes. Authorizes such loan assistance for farm- and nonfarm-related small businesses affected by droughts.
Requires the SBA to respond in writing to a State Governor regarding its determination concerning the provision of disaster loan assistance within 30 days after receiving such Governor's certification that small businesses in that State have suffered economic injury as a result of a disaster.
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