SENATE BILL REPORT

HJM 4014

This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent.

Brief Description: Requesting that House Resolution 6922 or substantially similar legislation be enacted to help stabilize the trucking industry.

Background: H.R. 6922 was introduced in the United States House of Representatives in the 110th Congress. H.R. 6922 would amend the Small Business Act to authorize disaster loans for eligible small businesses that have suffered or are likely to suffer substantial economic injury due to increases in the price of gasoline or diesel fuel. Small businesses eligible for the loans are those engaged in the transportation of persons or property for hire.

The loans are limited to $250,000. The Small Business Administration (SBA) may waive the $250,000 limit if the applicant is a major source of employment in the surrounding area as determined by the SBA.

Summary of Bill: The Washington State Senate and House of Representatives request that the United States Congress enact H.R. 6922 or substantially similar legislation. The purpose of the bill or similar legislation is to amend the Small Business Act to provide low-interest loans to small businesses providing transportation services in order to assist these businesses in dealing with high motor fuel prices.