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[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 208 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 208

 To require the Administrator of the Small Business Administration to 
 establish a program to make loans to certain businesses, homeowners, 
               and renters affected by Superstorm Sandy.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            January 8, 2015

Ms. Velaazquez (for herself, Mr. Nadler, Mr. Rangel, Ms. Meng, and Mr. 
   Crowley) introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL

 
 To require the Administrator of the Small Business Administration to 
 establish a program to make loans to certain businesses, homeowners, 
               and renters affected by Superstorm Sandy.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Superstorm Sandy Relief Act of 
2015''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) In 2012, Superstorm Sandy caused substantial physical 
        and economic damage to the United States, and New York in 
        particular.
            (2) For businesses and homeowners, the primary means of 
        obtaining long-term Federal financial assistance in the wake of 
        disasters such as Superstorm Sandy is through the Small 
        Business Administration's Disaster Loan Program.
            (3) With regard to the Small Business Administration's 
        operation of the Disaster Loan Program after Superstorm Sandy, 
        the Government Accountability Office found that the 
        Administration did not meet its timeliness goals for processing 
        business loan applications.
            (4) According to the Government Accountability Office, the 
        Small Business Administration stated that it was challenged by 
        an unexpectedly high volume of loan applications that it 
        received early in its response to Superstorm Sandy.
            (5) As a result, many businesses and homeowners affected by 
        Superstorm Sandy were unable to apply for financing from the 
        Small Business Administration.

SEC. 3. DISASTER LOANS FOR BUSINESSES, HOMEOWNERS, AND RENTERS AFFECTED 
              BY SUPERSTORM SANDY.

    (a) Establishment.--Not later than 45 days after the date of 
enactment of this Act, the Administrator of the Small Business 
Administration shall establish and carry out a loan program under which 
a small business concern, homeowner, or renter that was located within 
an area and during the time period with respect to which a major 
disaster was declared by the President under section 401 of the Robert 
T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 
5170) by reason of Superstorm Sandy may apply--
            (1) for a loan to repair, rehabilitate, or replace property 
        damaged or destroyed by reason of Superstorm Sandy; or
            (2) if such a small business concern has suffered 
        substantial economic injury by reason of Superstorm Sandy, for 
        a loan to assist such a small business concern.
    (b) Requirements.--To carry out the program described in subsection 
(a), the Administrator shall use the same application, selection, and 
notice requirements and procedures that are used under section 7(b) of 
the Small Business Act Section 7(b) (15 U.S.C. 636(b)).
    (c) Timing.--The Administrator shall select loan recipients and 
make available loans under this Act for a period of not less than 1 
year after the date on which the Administrator establishes the program.
                                 <all>
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