Aid for Small Winter Recreation Businesses Affected by Low Snowfall
This Act expands the definition of 'disaster' in the Small Business Act to include periods of low or no snowfall. This change allows businesses dependent on winter recreation (like ski resorts or equipment rentals) to apply for federal assistance if they suffer losses due to lack of snow. The goal is to protect jobs and financial stability in communities reliant on winter tourism.
Key points
Low or below-average snowfall is officially recognized as a 'disaster' for small business aid purposes.
Winter recreation businesses can now apply for federal financial support and loans when facing losses due to weather conditions.
The Small Business Administration (SBA) must issue implementing rules within 90 days of the Act's enactment.
Status:
Expired
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