3.0.0 5774 2023-01-11T13:33:24Z 2023-01-11T13:33:24Z House HR 2016-07-13 114 [Congressional Record Volume 162, Number 113 (Wednesday, July 13, 2016)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SMITH of New Jersey:H.R. 5774.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8 of the Constitution.[Page H4927]]]> hspw00 Transportation and Infrastructure Committee House Standing hspw13 Economic Development, Public Buildings, and Emergency Management Subcommittee Referred to 2016-07-15T21:10:29Z Referred to 2016-07-13T14:03:30Z hsba00 Financial Services Committee House Standing Referred to 2016-07-13T14:03:25Z hssm00 Small Business Committee House Standing Referred to 2016-07-13T14:03:20Z 2016-07-15 hspw13 Economic Development, Public Buildings, and Emergency Management Subcommittee 1 House committee actions Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management. Committee 2016-07-13 Referred to the Committee on Small Business, and in addition to the Committees on Financial Services, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hspw00 Transportation and Infrastructure Committee 2016-07-13 Referred to the Committee on Small Business, and in addition to the Committees on Financial Services, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2016-07-13 Referred to the Committee on Small Business, and in addition to the Committees on Financial Services, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2016-07-13 Referred to the Committee on Small Business, and in addition to the Committees on Financial Services, and Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2016-07-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2016-07-13 Introduced in House IntroReferral 1000 9 Library of Congress S000522 Rep. Smith, Christopher H. [R-NJ-4] CHRISTOPHER SMITH R NJ H. 4 N V000081 Rep. Velazquez, Nydia M. [D-NY-7] NYDIA VELAZQUEZ D NY M. 7 2016-07-13 True Commerce Disaster relief and insurance Government lending and loan guarantees Housing and community development funding Housing finance and home ownership Natural disasters Residential rehabilitation and home repair Small business Commerce 00 2016-07-13 Introduced in House 2016-11-14T15:50:55Z Equity for Disaster Victims Act of 2016

This bill amends the Small Business Act to allow a small business concern, homeowner, or nonprofit entity that received a Small Business Administration (SBA) disaster loan for repairing, rehabilitating, or replacing real property damaged or destroyed by or because of Superstorm Sandy or that received such an SBA loan to refinance a mortgage or other lien against a home or business concern totally destroyed or substantially damaged by or because of the storm to receive Superstorm Sandy CDBG-DR grant funds only if they will be used to repay:

  • the principal and any interest accrued on the loan for such repair, rehabilitation, or replacement; or
  • the loan received to refinance the mortgage or other lien.

The bill allows these recipients of additional SBA disaster assistance resulting from a declared major disaster to use CDBG-DR grant funds only if they are used for such repayments.

The term Superstorm Sandy CDBG-DR grant funds means mandatory amounts made available by the Department of Housing and Urban Development only for impacted and distressed areas resulting from a declared major disaster due to Superstorm Sandy for activities authorized under the Housing and Community Development Act of 1974.

A small business concern, homeowner, or nonprofit entity who receives assistance pursuant to any other law to repair, rehabilitate, or replace real property damaged or destroyed by or as a result of a declared major disaster on or after enactment of this bill may use such assistance to repay the principal and any interest accrued on a loan or the amount of other assistance received under it.

]]> Equity for Disaster Victims Act of 2016 Display Title Equity for Disaster Victims Act of 2016 Short Titles as Introduced Equity for Disaster Victims Act of 2016 Official Title as Introduced To amend the Small Business Act to allow small business concerns, homeowners, or nonprofit entities to use certain Superstorm Sandy grant funds or other disaster assistance received to repay certain disaster assistance provided by the Small Business Administration. Introduced in House 2016-07-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr5774ih/xml/BILLS-114hr5774ih.xml 2016-07-15 Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.