F:\HRB\SUSPENSION\H3042SUS.XMLHRBrazeltonNLWofsy12/13/2011 18:38NLWofsy12/13/2011 17:56f:\VHLC\121311\121311.217.xml12/13/2011 18:38:08NLWofsy 1121-1213-537438515061|2 [Discussion Draft] Suspend the Rules and Pass the Bill H.R. 3042 With an Amendment (The amendment strikes all after the enacting clause and inserts a new text) (Original Signature of Member) [DISCUSSION DRAFT]

I 112th CONGRESS 1st Session H. R. 3042 IN THE HOUSE OF REPRESENTATIVES September 23, 2011 Mr. Barletta (for himself, Mr. Young of Alaska, Mr. Marino, Mr. Kelly, Mr. Holden, Mr. Fitzpatrick, Mr. Welch, Mr. Pitts, and Mr. Platts) introduced the following bill; which was referred to the Committee on Small Business A BILL To provide for low interest loans for small businesses in major disaster areas, and for other purposes.

1.

Short title

This Act may be cited as the Disaster Loan Fairness Act of 2011.

2.

In general

When the president declares a major disaster under section 401 of the Stafford Act, the interest rates for loans made or guaranteed under the Home Disaster Loans, Business Physical Disaster Loans, and Economic Injury Disaster Loans programs under section 7(b) of the Small Business Act will be 1 percent for eligible applicants in the disaster area, with or without credit available elsewhere. This rate shall apply for the duration of all loans under such programs made while that declaration is in effect. This section shall apply to any such loans made on or after January 1, 2011.

3.

Offset from presidential election campaign fund

Of the amounts in the Presidential Election Campaign Fund established under section 9006 of the Internal Revenue Code of 1986 as of the date of the enactment of this Act, the Secretary of the Treasury shall transfer $30,000,000 to the general fund of the Treasury.