SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Disaster Loan 
Reporting Act of 2007''.

SEC. 2. DEFINITIONS.

    In this Act--
            (1) the terms ``Administration'' and ``Administrator'' mean 
        the Small Business Administration and the Administrator 
        thereof, respectively;
            (2) the term ``applicable period'' means the period 
        beginning on the date on which the President declares a major 
        disaster and ending on the date that is 30 days after the later 
        of the closing date for applications for physical disaster 
        loans for that disaster and the closing date for applications 
        for economic injury disaster loans for that disaster;
            (3) the term ``disaster loan program of the 
        Administration'' means assistance under section 7(b) of the 
        Small Business Act (15 U.S.C. 636(b));
            (4) the term ``disaster update period'' means the period 
        beginning on the date on which the President declares a major 
        disaster and ending on the date on which that declaration 
        terminates;
            (5) the term ``major disaster'' has the meaning given that 
        term in section 102 of the Robert T. Stafford Disaster Relief 
        and Emergency Assistance Act (42 U.S.C. 5122);
            (6) the term ``small business concern'' has the meaning 
        given that term in section 3 of the Small Business Act (15 
        U.S.C. 632); and
            (7) the term ``State'' means any State of the United 
        States, the District of Columbia, the Commonwealth of Puerto 
        Rico, the Northern Mariana Islands, the Virgin Islands, Guam, 
        American Samoa, and any territory or possession of the United 
        States.

SEC. 3. DEVELOPMENT AND IMPLEMENTATION OF MAJOR DISASTER RESPONSE PLAN.

    (a) In General.--Not later than May 1, 2007, the Administrator 
shall--
            (1) by rule, amend the 2006 Atlantic hurricane season 
        disaster response plan of the Administration (in this section 
        referred to as the ``disaster response plan'') to apply to 
        major disasters; and
            (2) submit a report to the Committee on Small Business and 
        Entrepreneurship of the Senate and the Committee on Small 
        Business of the House of Representatives detailing the 
        amendments to the disaster response plan.
    (b) Contents.--The amended report required under subsection (a)(2) 
shall include--
            (1) any updates or modifications made to the disaster 
        response plan since the report regarding the disaster response 
        plan submitted on July 14, 2006;
            (2) a description of how the Administrator plans to utilize 
        and integrate District Office personnel of the Administration 
        in the response to a major disaster, including information on 
        the utilization of personnel for loan processing and loan 
        disbursement;
            (3) a description of the disaster scalability model of the 
        Administration and on what basis or function the plan is 
        scaled;
            (4) a description of how the agency-wide Disaster Oversight 
        Council is structured, which offices comprise its membership, 
        and whether the Associate Deputy Administrator for 
        Entrepreneurial Development of the Administration is a member;
            (5) a description of how the Administrator plans to 
        coordinate the disaster efforts of the Administration with 
        State and local government officials, including recommendations 
        on how to better incorporate State initiatives or programs, 
        such as State-administered bridge loan programs, into the 
        disaster response of the Administration;
            (6) recommendations, if any, on how the Administrator can 
        better coordinate its disaster response operations with the 
        operations of other Federal, State, and local entities;
            (7) any surge plan for the disaster loan program of the 
        Administration in effect on or after August 29, 2005 (including 
        surge plans for loss verification, loan processing, mailroom, 
        customer service or call center operations, and a continuity of 
        operations plan);
            (8) the number of full-time equivalent employees and job 
        descriptions for the planning and disaster response staff of 
        the Administration;
            (9) the in-service and preservice training procedures for 
        disaster response staff of the Administration;
            (10) information on the logistical support plans of the 
        Administration (including equipment and staffing needs, and 
        detailed information on how such plans will be scalable 
        depending on the size and scope of the major disaster;
            (11) a description of the findings and recommendations of 
        the Administrator, if any, based on a review of the response of 
        the Administration to Hurricane Katrina of 2005, Hurricane Rita 
        of 2005, and Hurricane Wilma of 2005; and
            (12) a plan for how the Administrator, in cooperation with 
        the Administrator of the Federal Emergency Management Agency, 
        will coordinate the provision of accommodations and necessary 
        resources for disaster assistance personnel to effectively 
        perform their responsibilities in the aftermath of a major 
        disaster.
    (c) Exercises.--Not later than May 31, 2007, the Administrator 
shall develop and execute simulation exercises to demonstrate the 
effectiveness of the amended disaster response plan required under this 
section.

SEC. 4. CONGRESSIONAL OVERSIGHT.

    (a) Monthly Accounting Report to Congress.--
            (1) Reporting requirements.--Not later than the fifth 
        business day of each month during the applicable period for a 
        major disaster, the Administrator shall provide to the 
        Committee on Small Business and Entrepreneurship and the 
        Committee on Appropriations of the Senate and to the Committee 
        on Small Business and the Committee on Appropriations of the 
        House of Representatives a report on the operation of the 
        disaster loan program authorized under section 7 of the Small 
        Business Act (15 U.S.C. 636) for that major disaster during the 
        preceding month.
            (2) Contents.--Each report under paragraph (1) shall 
        include--
                    (A) the daily average lending volume, in number of 
                loans and dollars, and the percent by which each 
                category has increased or decreased since the previous 
                report under paragraph (1);
                    (B) the weekly average lending volume, in number of 
                loans and dollars, and the percent by which each 
                category has increased or decreased since the previous 
                report under paragraph (1);
                    (C) the amount of funding spent over the month for 
                loans, both in appropriations and program level, and 
                the percent by which each category has increased or 
                decreased since the previous report under paragraph 
                (1);
                    (D) the amount of funding available for loans, both 
                in appropriations and program level, and the percent by 
                which each category has increased or decreased since 
                the previous report under paragraph (1), noting the 
                source of any additional funding;
                    (E) an estimate of how long the available funding 
                for such loans will last, based on the spending rate;
                    (F) the amount of funding spent over the month for 
                staff, along with the number of staff, and the percent 
                by which each category has increased or decreased since 
                the previous report under paragraph (1);
                    (G) the amount of funding spent over the month for 
                administrative costs, and the percent by which such 
                spending has increased or decreased since the previous 
                report under paragraph (1);
                    (H) the amount of funding available for salaries 
                and expenses combined, and the percent by which such 
                funding has increased or decreased since the previous 
                report under paragraph (1), noting the source of any 
                additional funding; and
                    (I) an estimate of how long the available funding 
                for salaries and expenses will last, based on the 
                spending rate.
    (b) Daily Disaster Updates to Congress for Presidentially Declared 
Disasters.--
            (1) In general.--Each day during a disaster update period, 
        excluding Federal holidays and weekends, the Administration 
        shall provide to the Committee on Small Business and 
        Entrepreneurship of the Senate and to the Committee on Small 
        Business of the House of Representatives a report on the 
        operation of the disaster loan program of the Administration 
        for the area in which the President declared a major disaster.
            (2) Contents.--Each report under paragraph (1) shall 
        include--
                    (A) the number of Administration staff performing 
                loan processing, field inspection, and other duties for 
                the declared disaster, and the allocations of such 
                staff in the disaster field offices, disaster recovery 
                centers, workshops, and other Administration offices 
                nationwide;
                    (B) the daily number of applications received from 
                applicants in the relevant area, as well as a breakdown 
                of such figures by State;
                    (C) the daily number of applications pending 
                application entry from applicants in the relevant area, 
                as well as a breakdown of such figures by State;
                    (D) the daily number of applications withdrawn by 
                applicants in the relevant area, as well as a breakdown 
                of such figures by State;
                    (E) the daily number of applications summarily 
                declined by the Administration from applicants in the 
                relevant area, as well as a breakdown of such figures 
                by State;
                    (F) the daily number of applications declined by 
                the Administration from applicants in the relevant 
                area, as well as a breakdown of such figures by State;
                    (G) the daily number of applications in process 
                from applicants in the relevant area, as well as a 
                breakdown of such figures by State;
                    (H) the daily number of applications approved by 
                the Administration from applicants in the relevant 
                area, as well as a breakdown of such figures by State;
                    (I) the daily dollar amount of applications 
                approved by the Administration from applicants in the 
                relevant area, as well as a breakdown of such figures 
                by State;
                    (J) the daily amount of loans dispersed, both 
                partially and fully, by the Administration to 
                applicants in the relevant area, as well as a breakdown 
                of such figures by State;
                    (K) the daily dollar amount of loans disbursed, 
                both partially and fully, from the relevant area, as 
                well as a breakdown of such figures by State;
                    (L) the number of applications approved, including 
                dollar amount approved, as well as applications 
                partially and fully disbursed, including dollar 
                amounts, since the last report under paragraph (1); and
                    (M) the declaration date, physical damage closing 
                date, economic injury closing date, and number of 
                counties included in the declaration of a major 
                disaster.
    (c) Notice of the Need for Supplemental Funds.--On the same date 
that the Administrator notifies any committee of the Senate or the 
House of Representatives that supplemental funding is necessary for the 
disaster loan program of the Administration in any fiscal year, the 
Administrator shall notify in writing the Committee on Small Business 
and Entrepreneurship of the Senate and to the Committee on Small 
Business of the House of Representatives regarding the need for 
supplemental funds for that loan program.
    (d) Report on Contracting.--
            (1) In general.--Not later than 6 months after the date on 
        which the President declares a major disaster, and every 6 
        months thereafter until the date that is 18 months after the 
        date on which the major disaster was declared, the 
        Administrator shall submit a report to the Committee on Small 
        Business and Entrepreneurship of the Senate and to the 
        Committee on Small Business of the House of Representatives 
        regarding Federal contracts awarded as a result of that major 
        disaster.
            (2) Contents.--Each report submitted under paragraph (1) 
        shall include--
                    (A) the total number of contracts awarded as a 
                result of that major disaster;
                    (B) the total number of contracts awarded to small 
                business concerns as a result of that major disaster;
                    (C) the total number of contracts awarded to women 
                and minority-owned businesses as a result of that major 
                disaster; and
                    (D) the total number of contracts awarded to local 
                businesses as a result of that major disaster.
    (e) Report on Loan Approval Rate.--
            (1) In general.--Not later than 6 months after the date of 
        enactment of this Act, the Administrator shall submit a report 
        to the Committee on Small Business and Entrepreneurship of the 
        Senate and the Committee on Small Business of the House of 
        Representatives detailing how the Administration can improve 
        the processing of applications under the disaster loan program 
        of the Administration.
            (2) Contents.--The report submitted under paragraph (1) 
        shall include--
                    (A) recommendations, if any, regarding--
                            (i) staffing levels during a major 
                        disaster;
                            (ii) how to improve the process for 
                        processing, approving, and disbursing loans 
                        under the disaster loan program of the 
                        Administration, to ensure that the maximum 
                        assistance is provided to victims in a timely 
                        manner;
                            (iii) the viability of using alternative 
                        methods for assessing the ability of an 
                        applicant to repay a loan, including the credit 
                        score of the applicant on the day before the 
                        date on which the disaster for which the 
                        applicant is seeking assistance was declared;
                            (iv) methods, if any, for the 
                        Administration to expedite loss verification 
                        and loan processing of disaster loans during a 
                        major disaster for businesses affected by, and 
                        located in the area for which the President 
                        declared, the major disaster that are a major 
                        source of employment in the area or are vital 
                        to recovery efforts in the region (including 
                        providing debris removal services, manufactured 
                        housing, or building materials);
                            (v) legislative changes, if any, needed to 
                        implement findings from the Administration's 
                        Accelerated Disaster Response Initiative; and
                            (vi) a description of how the 
                        Administration plans to integrate and 
                        coordinate the response to a major disaster 
                        with the technical assistance programs of the 
                        Administration; and
                    (B) the plans of the Administrator for implementing 
                any recommendation made under subparagraph (A).
Output: Small Business Disaster Loan Reporting Act of 2007 - Directs the Administrator of the Small Business Administration (SBA) to: (1) amend the 2006 hurricane season disaster response plan to apply to major disasters; (2) report monthly to the congressional small business committees on the operation of the SBA disaster loan program; (3) provide daily updates during presidentially declared disaster periods; (4) provide reports regarding federal contracts awarded as a result of a major disaster; and (5) report on how the SBA can improve the processing of applications under the disaster loan program.