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.
Latest Action
Referred to the House Committee on Small Business.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™H.R. 9610 is a bill introduced in the 118th Congress aiming to amend the Small Business Act to waive the accrual of interest and payments on certain disaster loans for a period of one year. The bill's purpose is to provide temporary financial relief to borrowers of disaster loans by suspending their repayment obligations and interest accumulation. The bill was referred to the House Committee on Small Business but did not advance further and is currently classified as failed or expired. No full text or detailed summary is publicly available, limiting the scope of analysis.
H.R. 9610 sought to temporarily suspend interest and payments on certain disaster loans to aid borrowers, but it did not progress beyond committee referral and is now expired.
- The bill proposes a one-year waiver on interest accrual and payments for specific disaster loans under the Small Business Act.
- It was introduced in the House and referred to the House Committee on Small Business on September 16, 2024.
- The bill did not advance beyond committee and is currently classified as failed or expired.
['Borrowers of disaster loans under the Small Business Act, including small businesses affected by disasters.', 'Potentially the Small Business Administration (SBA) as the administering agency for disaster loans.']
["The bill's text and detailed provisions are not publicly available, limiting assessment of implementation challenges.", 'Potential fiscal impact on the SBA and federal budget due to waived interest and deferred payments.', 'Oversight mechanisms and authority for enforcing the waiver are not specified in the available information.']
The bill was introduced during the 118th Congress and referred to the House Committee on Small Business but did not advance further. It relates to ongoing legislative efforts to support small businesses affected by disasters through financial relief measures. The lack of further action suggests limited legislative momentum or prioritization.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['Temporary relief from loan payments could improve short-term financial stability for small businesses recovering from disasters.', 'Deferred payments may lead to increased loan balances or longer repayment periods after the waiver expires.', 'Potential administrative burden on the SBA to adjust loan servicing systems to accommodate the waiver.']
The absence of a full bill text and official summary limits transparency and comprehensive oversight. The bill's referral to committee without further action suggests limited legislative scrutiny. Fiscal implications and implementation details should be closely monitored if similar measures are reintroduced.
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