Small Business Disaster Relief Act of 2017

Bill: 115-s-1853
Sponsor: full_name: Sen. Nelson, Bill [D-FL]
Introduced: 2017-09-25
Policy area: Commerce
Subjects: Disaster relief and insurance

Energy storage, supplies, demand

Government lending and loan guarantees

Homelessness and emergency shelter

Motor fuels

Small Business Administration

Small business

Solid waste and recycling
Latest action: action_date: 2017-09-25
text: Read twice and referred to the Committee on Small Business and Entrepreneurship.

Summaries:
action_date: 2017-09-25
action_desc: Introduced in Senate
text: <p><b>Small Business Disaster Relief Act of 2017</b></p> <p>This bill amends the Small Business Act to authorize the Small Business Administration (SBA) to exceed the $100,000 limit on small business development center assistance grants to accommodate extraordinary occurrences having a catastrophic impact on small business concerns in a community.</p> <p>The bill amends the Disaster Relief Act of 1970 to permit: (1) the use of SBA and Farm Service Agency (formerly, Farmers Home Administration) loans for enterprises that are vital to recovery efforts in a disaster area (including debris removal services, manufactured housing, gasoline, telecommunications, or building materials); and (2) such loans to waive any required evaluation of creditworthiness in exchange for a fee set by the SBA or the Farm Service Agency.</p>

tv_txt: II 115th CONGRESS 1st Session S. 1853 IN THE SENATE OF THE UNITED STATES September 25, 2017 Mr. Nelson (for himself and Mr. Rubio ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To provide disaster relief to small businesses, and for other purposes.

1. Short title This Act may be cited as the Small Business Disaster Relief Act of 2017 . 2. Sense of Congress regarding disaster loan processing It is the sense of Congress that the Administrator of the Small Business Administration should use district offices of the Administration whenever possible to expedite the processing of disaster loans under section 7(b) of the Small Business Act ( 15 U.S.C. 636(b) ). 3. Small business development center portability grants Section 21(a)(4)(C)(viii) of the Small Business Act ( 15 U.S.C. 648(a)(4)(C)(viii) ) is amended— (1) in the first sentence, by striking as a result of a business or government facility down sizing or closing, which has resulted in the loss of jobs or small business instability and inserting due to events that have resulted or will result in a business or government facility downsizing or closing ; and (2) by adding at the end the following: At the discretion of the Administrator, the Administrator may make an award greater than $100,000 to a recipient to accommodate extraordinary occurrences having a catastrophic impact on the small business concerns in a community. . 4. Disaster assistance to critical enterprises Section 237 of the Disaster Relief Act of 1970 ( 15 U.S.C. 636d ) is amended— (1) by redesignating subsection (b) as subsection (c); and (2) in subsection (a)— (A) by striking Farmers Home Administration and inserting Farm Service Agency ; (B) by striking major disaster or and inserting major disaster or is vital to recovery efforts in the disaster area (including providing debris removal services, manufactured housing, gasoline, telecommunications, or building materials), ; and (C) by striking Loans authorized and inserting the following: (b) Terms and conditions Notwithstanding any other provision of law, loans authorized by this section— (1) 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; and (2) may waive any required evaluation of creditworthiness in exchange for a fee, as set by the Small Business Administration or the Farm Service Agency, as applicable. .