Sec. 877. EXTENSION OF LOAN ASSISTANCE AND DEFERRAL ELIGIBILITY TO RESERVISTS AND MEMBERS OF THE NATIONAL GUARD BEYOND PERIODS OF MILITARY CONFLICT
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## SEC. 877 EXTENSION OF LOAN ASSISTANCE AND DEFERRAL ELIGIBILITY TO RESERVISTS AND MEMBERS OF THE NATIONAL GUARD BEYOND PERIODS OF MILITARY CONFLICT ###
(a)Small Business Act Amendments Section 7 of the Small Business Act (15 U.S.C. 636) is amended— ####
(1)in subsection (b)(3)— #####
(A)in subparagraph (A)— ######
(i)by striking clause (ii); ######
(ii)by redesignating clause
(i)as clause (ii); ######
(iii)by inserting before clause (ii), as so redesignated, the following: > > ###### “(i) > > the term ‘active service’ has the meaning given that term in section 101(d)(3) of title 10, United States Code;” > ; and ######
(iv)in clause (ii), as so redesignated, by adding “and” at the end; #####
(B)in subparagraph (B), by striking “being ordered to active military duty during a period of military conflict” and inserting “being ordered to perform active service for a period of more than 30 consecutive days”; #####
(C)in subparagraph (C), by striking “active duty” each place it appears and inserting “active service”; and #####
(D)in subparagraph (G)(ii)(II), by striking “active duty” and inserting “active service”; and ####
(2)in subsection (n)— #####
(A)in the subsection heading, by striking “Active Duty” and inserting “Active Service”; #####
(B)in paragraph (1)— ######
(i)by striking subparagraph (C); ######
(ii)by redesignating subparagraphs
(A)and
(B)as subparagraphs
(B)and (C), respectively; ######
(iii)by inserting before subparagraph (B), as so redesignated, the following: > > ##### “(A) Active service > > The term ‘active service’ has the meaning given that term in section 101(d)(3) of title 10, United States Code.” > ; ######
(iv)in subparagraph (B), as so redesignated, by striking “ordered to active duty during a period of military conflict” and inserting “ordered to perform active service for a period of more than 30 consecutive days”; and ######
(v)in subparagraph (D), by striking “active duty” each place it appears and inserting “active service”; and #####
(C)in paragraph (2)(B), by striking “active duty” each place it appears and inserting “active service”. ###
(b)Applicability **[**[15 U.S.C. 636 note](/us/usc/t15/s636)**]** The amendments made by subsection (a)(1) shall apply to an economic injury suffered or likely to be suffered as the result of an essential employee being ordered to perform active service (as defined in section 101(d)(3) of title 10, United States Code) for a period of more than 30 consecutive days who is discharged or released from such active service on or after the date of enactment of this Act. ###
(c)Semiannual Report **[**[15 U.S.C. 636](/us/usc/t15/s636)/**]** Not later than 180 days after the date of enactment of this Act, and semiannually thereafter, the President shall submit to the Committee on Small Business and Entrepreneurship and the Committee on Appropriations of the Senate and the Committee on Small Business and the Committee on Appropriations of the House of Representatives a report on the number of loans made under the Military Reservist Economic Injury Disaster Loan program and the dollar volume of those loans. The report shall contain the subsidy rate of the disaster loan program as authorized under section 7(b) of the Small Business Act (15 U.S.C. 636(b)) with the loans made under the Military Reservist Economic Injury Disaster Loan program and without those loans included. ###
(d)Technical and Conforming Amendment Section 8(l) of the Small Business Act (15 U.S.C. 637(l)) is amended— ####
(1)by striking “ The Administration ” and inserting the following: > > #### “(1) In general > > The Administration” > ; ####
(2)by striking “(as defined in section 7(n)(1))”; and ####
(3)by adding at the end the following: > > #### “(2) Definition of period of military conflict > > In this subsection, the term ‘period of military conflict’ means— > > > ##### “(A) > > a period of war declared by the Congress; > > > ##### “(B) > > a period of national emergency declared by the Congress or by the President; or > > > ##### “(C) > > a period of a contingency operation, as defined in section 101(a) of title 10, United States Code.” > .
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Sec. 877
EXTENSION OF LOAN ASSISTANCE AND DEFERRAL ELIGIBILITY TO RESERVISTS AND MEMBERS OF THE NATIONAL GUARD BEYOND PERIODS OF MILITARY CONFLICT
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