Rebuilding Small Businesses After Disasters Act

Bill: 116-s-862
Sponsor: full_name: Sen. Kennedy, John [R-LA]
Introduced: 2019-03-25
Policy area: Commerce
Subjects: Disaster relief and insurance

Government lending and loan guarantees

Small business
Latest action: action_date: 2019-11-22
text: Became Public Law No: 116-70.

Summaries:
action_date: 2019-03-25
action_desc: Introduced in Senate
text: <p><b>Rebuilding Small Businesses After Disasters Act </b></p> <p>This bill makes permanent the increased threshold for the minimum major-disaster loan amount for which the Small Business Administration may require collateral.</p>

action_date: 2019-04-03
action_desc: Reported to Senate
text: <p><b>Rebuilding Small Businesses After Disasters Act </b></p> <p>This bill makes permanent the increased threshold for the minimum major-disaster loan amount for which the Small Business Administration may require collateral.</p>

action_date: 2019-08-01
action_desc: Passed Senate
text: <p><strong>Rebuilding Small Businesses After Disasters Act</strong></p> <p>This bill extends by three years the increased threshold for the minimum major-disaster loan amount for which the Small Business Administration may require collateral. It also requires the Government Accountability Office to report on the performance of such loans.</p>

action_date: 2019-11-20
action_desc: Passed House
text: <p><strong>Rebuilding Small Businesses After Disasters Act</strong></p> <p>This bill extends by three years the increased threshold for the minimum major-disaster loan amount for which the Small Business Administration may require collateral. It also requires the Government Accountability Office to report on the performance of such loans.</p>

action_date: 2019-11-22
action_desc: Public Law
text: <p><strong>Rebuilding Small Businesses After Disasters Act</strong></p> <p>This bill extends by three years the increased threshold for the minimum major-disaster loan amount for which the Small Business Administration may require collateral. It also requires the Government Accountability Office to report on the performance of such loans.</p>

tv_txt: II 116th CONGRESS 1st Session S. 862 IN THE SENATE OF THE UNITED STATES March 25, 2019 Mr. Kennedy (for himself, Mr. Booker , and Mr. Rubio ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To repeal the sunset for collateral requirements for Small Business Administration disaster loans.

1. Short title This Act may be cited as the Rebuilding Small Businesses After Disasters Act . 2. Repeal of sunset for collateral requirements for SBA disaster loans Section 2102 of the RISE After Disaster Act of 2015 ( Public Law 114–88 ; 129 Stat. 690) is amended— (1) by striking (a) In general .— ; and (2) by striking subsections (b) and (c).

tv_txt: II Calendar No. 54 116th CONGRESS 1st Session S. 862 IN THE SENATE OF THE UNITED STATES March 25, 2019 Mr. Kennedy (for himself, Mr. Booker , Mr. Rubio , and Mr. Hawley ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship April 3, 2019 Reported by Mr. Rubio , without amendment A BILL To repeal the sunset for collateral requirements for Small Business Administration disaster loans.

1. Short title This Act may be cited as the Rebuilding Small Businesses After Disasters Act . 2. Repeal of sunset for collateral requirements for SBA disaster loans Section 2102 of the RISE After Disaster Act of 2015 ( Public Law 114–88 ; 129 Stat. 690) is amended— (1) by striking (a) In general .— ; and (2) by striking subsections (b) and (c).

April 3, 2019 Reported without amendment

tv_txt: 116th CONGRESS 1st Session S. 862 IN THE SENATE OF THE UNITED STATES AN ACT To extend the sunset for collateral requirements for Small Business Administration disaster loans.

1. Short title This Act may be cited as the Rebuilding Small Businesses After Disasters Act . 2. Extension of sunset for collateral requirements for SBA disaster loans Section 2102(b) of the RISE After Disaster Act of 2015 ( 15 U.S.C. 636 note) is amended, in the matter preceding paragraph (1), by striking 4 years and inserting 7 years . 3. GAO report on default rates Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report comparing— (1) the performance, including the default rate, of loans made under section 7(b)(1) of the Small Business Act ( 15 U.S.C. 636(b)(1) ) during the period— (A) beginning on January 1, 2000; and (B) ending on the date on which the Small Business Administration began making loans in accordance with the amendment made by section 2102(a) of the RISE After Disaster Act of 2015 ( Public Law 114–88 ; 129 Stat. 690); and (2) the performance, including the default rate, of loans made under 7(b)(1) of the Small Business Act ( 15 U.S.C. 636(b)(1) ) in accordance with the amendment made by section 2102(a) of the RISE After Disaster Act of 2015 ( Public Law 114–88 ; 129 Stat. 690).

Passed the Senate August 1, 2019. Secretary

tv_txt: One Hundred Sixteenth Congress of the United States of America 1st Session Begun and held at the City of Washington on Thursday, the third day of January, two thousand and nineteen S. 862 IN THE SENATE OF THE UNITED STATES AN ACT To extend the sunset for collateral requirements for Small Business Administration disaster loans.

1. Short title This Act may be cited as the Rebuilding Small Businesses After Disasters Act . 2. Extension of sunset for collateral requirements for SBA disaster loans Section 2102(b) of the RISE After Disaster Act of 2015 ( 15 U.S.C. 636 note) is amended, in the matter preceding paragraph (1), by striking 4 years and inserting 7 years . 3. GAO report on default rates Not later than 1 year after the date of enactment of this Act, the Comptroller General of the United States shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report comparing— (1) the performance, including the default rate, of loans made under section 7(b)(1) of the Small Business Act ( 15 U.S.C. 636(b)(1) ) during the period— (A) beginning on January 1, 2000; and (B) ending on the date on which the Small Business Administration began making loans in accordance with the amendment made by section 2102(a) of the RISE After Disaster Act of 2015 ( Public Law 114–88 ; 129 Stat. 690); and (2) the performance, including the default rate, of loans made under 7(b)(1) of the Small Business Act ( 15 U.S.C. 636(b)(1) ) in accordance with the amendment made by section 2102(a) of the RISE After Disaster Act of 2015 ( Public Law 114–88 ; 129 Stat. 690).

Speaker of the House of Representatives Vice President of the United States and President of the Senate