H.R. 6346 — Introduced in House

I 116th CONGRESS 2d Session H. R. 6346 IN THE HOUSE OF REPRESENTATIVES March 23, 2020Mr. 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. 1. Interest rate for economic injury disaster loans Notwithstanding any other provision of law, the interest rate chargeable under any loan made after the date of the enactment of this Act under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) shall be the lesser of— (1) the interest rate otherwise chargeable under such program; or (2) the interest rate payable on the most-recently issued marketable obligations of the United States having a maturity of 10 years, as determined for purposes of this section by the Secretary of the Treasury.