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TheWeekInCongress.com (TM) Week Ending January 19, 2006
H.R.434 To provide for an additional temporary extension of programs under the Small Business Act and the Small Business Investment Act of 1958 through December 31, 2007, and for other purposes.
Small Business Administration programs, largely grants and loans, would be extended under this bill in the absence of a FY 2007 appropriation that was not completed in the 109th Congress. SBA programs now face running out of cash even though in the absence of any appropriation bill last year the agency was funded at previous year levels. The previous funding was considered underfunded.
The continuance of the existing budget (FY 2006) extends until February 2, 2007 and this bill continues the programs, including any pilot programs through December 31, 2007.
Sponsor: Rep. Steve Chabot (D-OH-1st) Vote: Passed House 413 to 2 January 16, 2007 (RC 28). Agreed to in the Senate by Unanimous Consent February 1, 2007 Cost to the taxpayers: Cost of this provision will be based on funding appropriated for the program in the FY 2006 budget reconciliation.
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## All Rights Reserved. © 2007 TheWeekInCongress.com.(TM) No reproduction, language translation or distribution without written permission from TheWeekInCongress.com.(TM)
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