Federal Electricity Restructuring Legislation

Bill Number: S. 286
Short Title: Small Business Assistance Act of 2001
Introduced: February 8, 2001
Sponsor: Senator Dianne Feinstein (D-CA)

Purpose: To direct the Secretary of Commerce to establish a program to make no-interest loans to eligible small business concerns to address economic harm resulting from shortages of, and increases in the prices of, electricity and natural gas.

Summary: Directs the Secretary of Commerce to establish a program to make no-interest loans to certain small businesses that: (1) are not covered by a State program limiting retail electricity rates; and (2) are located in California, are business customers of specified utilities, and have specified electric or natural gas usage rates; or (3) are located in other states and have experienced an increase in electricity or natural gas costs of not less than 100 percent. Establishes the Small Business Energy Expense Assistance Fund to fund such loans.