Public Law 116–70: To extend the sunset for collateral requirements for Small Business Administration disaster loans.Public Law70Public Law 116–70133 Stat. 11452019-11-222019-11-22United States Government Publishing OfficeNational Archives and Records AdministrationOffice of the Federal Registertext/xmlENPursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.GPO Locator to USLM Converter 4.15.31;Stage2.202507022026-01-02116publicPUBLIC LAW 116–70—NOV. 22, 2019133 STAT. 1145Public Law116–70116th CongressAn ActTo extend the sunset for collateral requirements for Small Business Administration disaster loans.
Nov. 22, 2019
[S. 862]
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Rebuilding Small Businesses After Disasters Act.
15 USC 631 note.
SECTION 1. SHORT TITLE. This Act may be cited as the “Rebuilding Small Businesses After Disasters Act”.SEC. 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”.SEC. 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)
Time period.
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 133 STAT. 1146
2102(a) of the RISE After Disaster Act of 2015 (Public Law 114–88; 129 Stat. 690).ApprovedNovember 22, 2019.LEGISLATIVE HISTORY—S. 862:CONGRESSIONAL RECORD, Vol. 165 (2019):