SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Equity for Disaster 
Victims Act of 2017’’. 
SEC. 2. USE OF CERTAIN SUPERSTORM SANDY GRANT 
FUNDS FOR REPAYMENT OF CERTAIN DIS-
ASTER 
ASSISTANCE 
PROVIDED 
BY 
THE 
SMALL BUSINESS ADMINISTRATION. 
Section 7(f) of the Small Business Act (15 U.S.C. 
636(f)) is amended by adding at the end the following new 
paragraph: 
‘‘(2) SUPERSTORM
SANDY
CDBG–DR
GRANT 
FUNDS.— 
‘‘(A) IN GENERAL.— 
‘‘(i) LOANS
TO
REPAIR, REHABILI-
TATE, OR REPLACE REAL PROPERTY.—A 
small business concern, homeowner, or 
nonprofit entity that received a loan pursu-
ant to subsection (b)(1)(A) for the purpose 
of repairing, rehabilitating, or replacing 
real property damaged or destroyed by or 
as a result of Superstorm Sandy may re-
ceive Superstorm Sandy CDBG–DR grant 
funds only if such grant funds will be used 
to repay the principal and any interest ac-
crued on the loan. 
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‘‘(ii) LOANS TO REFINANCE A MORT-
GAGE.—A small business concern, home-
owner, or nonprofit entity that received a 
loan pursuant to subsection (b)(1)(B) to 
refinance a mortgage or other lien against 
a home or business concern that was to-
tally destroyed or substantially damaged by 
or as a result of Superstorm Sandy may 
receive 
Superstorm 
Sandy 
CDBG–DR 
grant funds only if the amount of such 
grant funds will be used to repay the 
amount received under such subsection 
(b)(1)(B). 
‘‘(iii) ADDITIONAL DISASTER ASSIST-
ANCE.—A small business concern, home-
owner, or nonprofit entity that received ad-
ditional disaster assistance pursuant to 
subsection (b)(9) for a loan described in 
clause (i) or the refinancing described in 
clause (ii) may receive Superstorm Sandy 
CDBG–DR grant funds only if such grant 
funds will be used— 
‘‘(I) to repay the principal and 
any interest accrued on a loan de-
scribed in clause (i); or 
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‘‘(II) to repay the amount re-
ceived from a loan described in clause 
(ii). 
‘‘(B) DEFINITION.—The term ‘Superstorm 
Sandy CDBG–DR grant funds’ means amounts 
made available by the Department of Housing 
and Urban Development under the heading ‘De-
partment of Housing and Urban Develop-
ment—Community 
Planning 
and 
Develop-
ment—Community Development Fund’ in title 
X of the Disaster Relief Appropriations Act, 
2013 (division A of Public Law 113–2; 127 
Stat. 36) only for impacted and distressed areas 
resulting from a major disaster declared pursu-
ant to the Robert T. Stafford Disaster Relief 
and Emergency Assistance Act (42 U.S.C. 5121 
et seq.) due to Superstorm Sandy for activities 
authorized under title I of the Housing and 
Community Development Act of 1974 (42 
U.S.C. 5301 et seq.).’’. 
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SEC. 3. USE OF OTHER DISASTER ASSISTANCE FOR REPAY-
MENT OF CERTAIN DISASTER ASSISTANCE 
PROVIDED BY THE SMALL BUSINESS ADMIN-
ISTRATION. 
Section 7(b) of the Small Business Act (15 U.S.C. 
636(b)) is amended by inserting after paragraph (15) the 
following new paragraph: 
‘‘(16) USE OF OTHER DISASTER ASSISTANCE.— 
As determined by the Administrator, a small busi-
ness concern, homeowner, or nonprofit entity who 
receives assistance pursuant to any other law (except 
for assistance received pursuant to the Robert T. 
Stafford Disaster Relief and Emergency Assistance 
Act (42 U.S.C. 5121 et seq.)) to repair, rehabilitate, 
or replace real property damaged or destroyed by or 
as a result of a major disaster declared by the Presi-
dent under section 401 of the Robert T. Stafford 
Disaster Relief and Emergency Assistance Act (42 
U.S.C. 5170) on or after the date of enactment of 
this paragraph may use such assistance to repay the 
principal and any interest accrued on a loan or the 
amount of other assistance received under this sub-
section.’’. 
SEC. 4. TREATMENT OF FUNDS. 
Notwithstanding the sixth and tenth provisos under 
the heading ‘‘Department of Housing and Urban Develop-
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ment—Community Planning and Development—Commu-
nity Development Fund’’ in title X of the Disaster Relief 
Appropriations Act, 2013 (division A of Public Law 113– 
2; 127 Stat. 37), to the extent that amounts are made 
available under such heading, the procedures preventing 
the duplication of benefits shall not apply with respect to 
such amounts used for the purposes of paragraph (2) of 
section 7(f) of the Small Business Act (15 U.S.C. 636(f)), 
as added by this Act. 
Æ 
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