arrow_back Back to App

Disaster Relief: One-Year Interest and Payment Waiver for Loans

This bill aims to ease the burden on individuals and businesses affected by disasters. For one year after receiving a disaster recovery loan, no interest will accrue, and principal payments will be deferred. This provides crucial financial relief during a challenging period.
Key points
Zero interest rate on disaster loans for the first year.
No principal payments required for the first 12 months of the loan.
Applies to loans for disasters declared on or after the enactment date of these changes.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_3557
Sponsor: Rep. Neguse, Joe [D-CO-2]
Process start date: 2025-05-21
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
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 119_HR_3557.

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 2025-05-21.

What are the main provisions?

Key points include:

  • Zero interest rate on disaster loans for the first year.
  • No principal payments required for the first 12 months of the loan.
  • Applies to loans for disasters declared on or after the enactment date of these changes.
What is the specific legal status?

The current status is Introduced.

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 2025-12-22.

CATEGORIES

Economy Benefits