arrow_back Back to App

One-Year Interest Waiver and Payment Deferral for New Disaster Loans.

This bill grants a one-year financial break to individuals and small businesses receiving new federal disaster relief loans. For the first 12 months after the loan is disbursed, borrowers will pay zero interest and will not be required to make principal payments. This measure aims to significantly reduce the immediate financial stress during the critical recovery period following a disaster.
Key points
Interest accrual is waived (set to zero percent) for the first 12 months following the disbursement of a new disaster loan.
Payments on the principal of the loan are deferred for the same one-year period.
These benefits apply only to loans related to disasters declared on or after the date the law takes effect.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_9610
Sponsor: Rep. Neguse, Joe [D-CO-2]
Process start date: 2024-09-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

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.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9610.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-09-16.

What are the main provisions?

Key points include:

  • Interest accrual is waived (set to zero percent) for the first 12 months following the disbursement of a new disaster loan.
  • Payments on the principal of the loan are deferred for the same one-year period.
  • These benefits apply only to loans related to disasters declared on or after the date the law takes effect.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Neguse, Joe [D-CO-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Benefits