INCREASED DEFERMENT PERIOD.

SEC. 12068. INCREASED DEFERMENT PERIOD.(a) In General.—Section 7 of the Small Business Act (15 U.S.C. 636) is amended—(1) by redesignating subsections (c) and (d) as subsections (d) and (e), respectively; and(2) by inserting after subsection (e), as so redesignated, the following:“(f) Additional Requirements for 7(b) Loans.—“(1) Increased deferment authorized.—“(A) In general.—In making loans under subsection (b), the Administrator may provide, to the person receiving the loan, an option to defer repayment on the loan.“(B) Period.—The period of a deferment under subparagraph (A) may not exceed 4 years.”.(b) Technical and Conforming Amendments.—The Small Business Act (15 U.S.C. 631 et seq.) is amended—(1) in section 4(c)—(A) in paragraph (1), by striking “7(c)(2)” and inserting “7(d)(2)”; and(B) in paragraph (2)—122 STAT. 1411(i) by striking “7(c)(2)” and inserting “7(d)(2)”; and(ii) by striking “7(e),”; and(2) in section 7(b), in the undesignated matter following paragraph (3)—(A) by striking “That the provisions of paragraph (1) of subsection (c)” and inserting “That the provisions of paragraph (1) of subsection (d)”; and(B) by striking “Notwithstanding the provisions of any other law the interest rate on the Administration’s share of any loan made under subsection (b) except as provided in subsection (c),” and inserting “Notwithstanding any other provision of law, and except as provided in subsection (d), the interest rate on the Administration’s share of any loan made under subsection (b)”.