Vote Smart's Synopsis:

Vote to pass a bill that makes changes to the administration of the Save Our Small Businesses Fund.

Highlights:

• Authorizes the Save Our Small Businesses Fund department to negotiate the terms on which financial assistance is provided and provide up to six months of interest-free financing for qualifying businesses (Sec. 2).

• Specifies that if any unobligated money exists in the fund on March 31, 2012, the unobligated money shall be deposited into the general fund (Sec. 1).

• Increases the percent of funds appropriated that the department may use for administrative purposes from 2 percent to 3 percent (Sec. 5).

• Specifies that moneys appropriated to the fund that remain unused at the close of the fiscal year shall not revert but shall remain available for expenditure (Sec. 5).

Full Bill Text