Browse Arkansas Code titles and sections
15 U.S.C. § 636b — Disaster loan interest rates
Federal law — U.S. Code and appendices · legal_authorities
Any loan made under section 636a 11 See References in Text note below. of this title and section 4452 1 of title 42 shall not exceed the current cost of repairing or replacing the disaster injury, loss, or damage in conformity with current codes and specifications. Any loan made under sections 636a 1 and 636d of this title, and sections 3538 and 4452 1 of title 42 shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity of ten to twelve years reduced by not to exceed 2 per centum per annum. In no event shall any loan made under this section bear interest at a rate in excess of 6 per centum per annum.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 636b
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 4db48c5b502206deab72a64bfe0422076dafe75a15cd8376f424a6ca394ff358. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_d992ecc41e3674318098e16c
Source file: Laws/federal/codes/united-states-code/title-15/section-636b-disaster-loan-interest-rates--6f51bc0d67.md
Pages: Not recorded – Not recorded
Passage SHA-256: f0a8a581ec0b96c431dedd0d9104e9ba16e71bdf047ea349dff574a7c682e1c7
Source location: Title 15, Chapter 14A, § 636b; chapter-14a-aid-to-small-business.md
Stored source content
Any loan made under section 636a 11 See References in Text note below. of this title and section 4452 1 of title 42 shall not exceed the current cost of repairing or replacing the disaster injury, loss, or damage in conformity with current codes and specifications. Any loan made under sections 636a 1 and 636d of this title, and sections 3538 and 4452 1 of title 42 shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity of ten to twelve years reduced by not to exceed 2 per centum per annum. In no event shall any loan made under this section bear interest at a rate in excess of 6 per centum per annum.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) General rule** There shall be allowed as a deduction any loss sustained during the taxable year and not compensated for by insurance or otherwise.
**(b) Amount of deduction** For purposes of subsection (a), the basis for determining the amount of the deduction for any loss shall be the adjusted basis provided in section 1011 for determining the loss from the sale or other disposition of property.
**(c) Limitation on losses of individuals** In the case of an individual, the deduction under subsection (a) shall be limited to—
(1) losses incurred in a trade or business;
(2) losses incurred in any transaction entered into for profit, though not connected with a trade or business; and
(3) except as provided in subsection (h), losses of property not connected with a trade or business or a transaction entered into for profit, if such losses arise from fire, storm, shipwreck, or other casualty, or from theft.
**(d) Wagering losses**
(1) **In general** — For purposes of losses from wagering transactions, the amount allowed as a deduction for any taxable year—
(A) shall be equal to 90 percent of the amount of such losses during such taxable year, and
(B) shall be allowed only to the extent of the gains from such transactions during such taxable year.
(2) **Special rule** — For purposes of paragraph (1), the term “losses from wagering transactions” includes any deduction otherwise allowable under this chapter incurred in carrying on any wagering transaction.
**(e) Theft losses** For purposes of subsection (a), any loss arising from theft shall be treated as sustained during the taxable year in which the taxpayer discovers such loss.
**(f) Capital losses** Losses from sales or exchanges of capital assets shall be allowed only to the extent allowed in sections
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 165
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 91–606, title II, § 232, Dec. 31, 1970, 84 Stat. 1753, provided for emergency farm loans. See [section 1961 of Title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1961&num=0&edition=prelim), Agriculture.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 4452
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 91–606, title II, § 231, Dec. 31, 1970, 84 Stat. 1752; Pub. L. 92–385, § 6, Aug. 16, 1972, 86 Stat. 559, related to small business disaster loans.
#### Effective Date of Repeal
Repeal effective Aug. 13, 1981, but not to affect any financing made, obligated, or committed under this chapter or chapter 14B of this title prior to Aug. 13, 1981, see section 1918 of Pub. L. 97–35, set out as an Effective Date of 1981 Amendment note under [section 631 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section631&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 636a
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Loans to disaster areas** The Small Business Administration in the case of a nonagricultural enterprise, and the Farmers Home Administration in the case of an agricultural enterprise, are authorized to provide any industrial, commercial, agricultural, or other enterprise, which has constituted a major source of employment in an area suffering a major disaster and which is no longer in substantial operation as a result of such disaster, a loan in such amount as may be necessary to enable such enterprise to resume operations in order to assist in restoring the economic viability of the disaster area. Loans authorized by this section shall be made without regard to limitations on the size of loans which may otherwise be imposed by any other provision of law or regulations promulgated pursuant thereto.
**(b) Interest; deferred payments** Assistance under this section shall be in addition to any other Federal disaster assistance, except that such other assistance may be adjusted or modified to the extent deemed appropriate by the Director under the authority of section 4418 11 See References in Text note below. of title 42. Any loan made under this section shall be subject to the interest requirements of [section 636b of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636b&num=0&edition=prelim), but the President, if he deems it necessary, may defer payments of principal and interest for a period not to exceed three years after the date of the loan. Any such deferred payments shall bear interest at the rate determined under [section 636b of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636b&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 636d
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section 4453, Pub. L. 91–606, title II, § 234, Dec. 31, 1970, 84 Stat. 1754, which related to disaster loan interest rates, was transferred to [section 636b of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636b&num=0&edition=prelim), Commerce and Trade.
Section 4454, Pub. L. 91–606, title II, § 235, Dec. 31, 1970, 84 Stat. 1754, which related to prohibition on consideration of age of applicant for disaster loans, was transferred to [section 636c of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636c&num=0&edition=prelim).
Section 4455(a), Pub. L. 91–606, title II, § 236(a), Dec. 31, 1970, 84 Stat. 1754, which related to authority of the Secretary of Agriculture to reschedule and refinance Federal loans under the Rural Electrification Administration, was transferred to [section 912a of Title 7](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section912a&num=0&edition=prelim), Agriculture.
Section 4455(b), Pub. L. 91–606, title II, § 236(b), Dec. 31, 1970, 84 Stat. 1754, which related to authority of the Secretary of Housing and Urban Development to reschedule and refinance Federal loans, was transferred to [section 3538 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title42-section3538&num=0&edition=prelim).
Section 4456, Pub. L. 91–606, title II, § 237, Dec. 31, 1970, 84 Stat. 1754, which related to disaster aid to major sources of employment, was transferred to [section 636d of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636d&num=0&edition=prelim), Commerce and Trade.
Source: Supplied U.S. Code snapshot — release unconfirmed · 42 U.S.C. § 4453 to 4456
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 877
TITLE 15—COMMERCE AND TRADE
§ 636b
1 See References in Text note below.
DISASTER RELIEF AUTHORITY; STUDY AND REPORT ON
CONSOLIDATION
Pub. L. 94–305, title I, § 101, June 4, 1976, 90 Stat. 663,
required the President to comprehensively review all
Federal disaster loan authorities and to report to Con-
gress by Dec. 1, 1976, with recommendations and legis-
lative proposals for the most effective and efficient de-
livery of disaster relief, including possible consolida-
tion of authorities.
DISASTER
LOANS; SPECIAL
PROVISIONS
FOR
APPLICA-
TIONS RECEIVED ON OR BEFORE MARCH 19, 1981; AS-
SISTANCE TO HARDSHIP APPLICANTS
Pub. L. 97–35, title XIX, § 1916, Aug. 13, 1981, 95 Stat.
780, provided for special provisions for applications for
disaster loans under 15 U.S.C. 1636(b)(1), (2), or (4) re-
ceived on or before Mar. 19, 1981, with assistance to
hardship applicants.
DISASTER LOANS; INTEREST RATE; CANCELLATION OF
LOANS
Pub. L. 93–24, § 9, Apr. 20, 1973, 87 Stat. 25, provided
that: ‘‘Notwithstanding the provisions of any other
law, any loan made by the Small Business Administra-
tion in connection with any disaster occurring on or
after the date of enactment of this Act [Apr. 20, 1973]
under sections 7(b)(1), (2), or (4) of the Small Business
Act (15 U.S.C. 636(b)(1), (2), or (4)) [subsec. (b)(1), (2), or
(4) of this section] shall bear interest at the rate deter-
mined under section 324 of the Consolidated Farm and
Rural Development Act, as amended by section 4 of this
Act [section 1964 of Title 7, Agriculture]. No portion of
any such loan shall be subject to cancellation under the
provisions of any law.’’
INTEREST RATES ON LOANS TO MEET REGULATORY
STANDARDS
Pub. L. 93–237, § 2(d), Jan. 2, 1974, 87 Stat. 1024, pro-
vided that: ‘‘In no case shal
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 636b
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.