CONGRESSWOMAN ELISE STEFANIK
H.R. XXXX is expected to be considered on the floor of the House under suspension of the rules, requiring a two-thirds majority vote for passage. The legislation was introduced by Rep. Jose Serrano (D-NY) on March 25, 2010.
H.R. XXXX would allow up to $40 million of funds already appropriated to the Small Business Administration to be utilized for fee reductions and eliminations, as well as the cost of guaranteed loans, under the Small Business Loan Guarantee program authorized by the Democrat "stimulus" bill (P.L. 111-5). This legislation would also extend the sunset date of that program from March 28, 2010, through April 30, 2010.
The Congressional Budget Office (CBO) has not yet produced a cost estimate for this bill.