Section 1 Short title
This Act may be cited as the “Funding Small Businesses During Shutdown Act”.
Funding Small Businesses During Shutdown Act
A BILL
To ensure continued appropriations for certain Small Business Administration programs during a Government shutdown in fiscal year 2024, and for other purposes.
Sec. 2 Continuation of certain Small Business Administration programs during a Government shutdown
There are appropriated for fiscal year 2024, out of any money in the Treasury not otherwise appropriated, during any period of a lapse in discretionary appropriations with respect to the Small Business Administration during such fiscal year beginning on or after the date of the enactment of this section, for any 30-day period of such lapse (and on a pro-rated basis if such lapse is less than 30 days) to pay for the salaries and expenses necessary to continue servicing any loans made under—
$500,000 for loans made under subsection (m) of section 7 of the Small Business Act (15 U.S.C. 636(m));
$2,916,666,667 for loans made under subsection (a) of section 7 of the Small Business Act (15 U.S.C. 636(a));
$1,250,000,000 for loans made under title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.); and
$13,775,000 for administrative expenses to carry out the loan program under subsection (m) of section 7 of the Small Business Act (15 U.S.C. 636(m)).