[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[S. 415 Introduced in Senate (IS)]

113th CONGRESS
  1st Session
                                 S. 415

 To clarify the collateral requirement for certain loans under section 
 7(d) of the Small Business Act, to address assistance to out-of-State 
            small business concerns, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 28, 2013

Ms. Landrieu (for herself, Mr. Cochran, Mrs. Gillibrand, and Mr. Pryor) 
introduced the following bill; which was read twice and referred to the 
            Committee on Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
 To clarify the collateral requirement for certain loans under section 
 7(d) of the Small Business Act, to address assistance to out-of-State 
            small business concerns, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Disaster Reform Act 
of 2013''.

SEC. 2. CLARIFICATION OF COLLATERAL REQUIREMENTS.

    Section 7(d)(6) of the Small Business Act (15 U.S.C. 636(d)(6)) is 
amended by inserting after ``which are made under paragraph (1) of 
subsection (b)'' the following: ``: Provided further, That the 
Administrator, in obtaining the best available collateral for a loan of 
not more than $200,000 under paragraph (1) or (2) of subsection (b) 
relating to damage to or destruction of the property of, or economic 
injury to, a small business concern, shall not require the owner of the 
small business concern to use the primary residence of the owner as 
collateral if the Administrator determines that the owner has other 
assets with a value equal to or greater than the amount of the loan 
that could be used as collateral for the loan: Provided further, That 
nothing in the preceding proviso may be construed to reduce the amount 
of collateral required by the Administrator in connection with a loan 
described in the preceding proviso or to modify the standards used to 
evaluate the quality (rather than the type) of such collateral''.

SEC. 3. ASSISTANCE TO OUT-OF-STATE SMALL BUSINESSES.

    Section 21(b)(3) of the Small Business Act (15 U.S.C. 648(b)(3)) is 
amended--
            (1) by striking ``(3) At the discretion'' and inserting the 
        following:
            ``(3) Assistance to out-of-state small businesses.--
                    ``(A) In general.--At the discretion''; and
            (2) by adding at the end the following:
                    ``(B) Disaster recovery assistance.--
                            ``(i) In general.--At the discretion of the 
                        Administrator, the Administrator may authorize 
                        a small business development center to provide 
                        assistance, as described in subsection (c), to 
                        a small business concern located outside of the 
                        State, without regard to geographic proximity, 
                        if the small business concern is located in an 
                        area for which the President has declared a 
                        major disaster under section 401 of the Robert 
                        T. Stafford Disaster Relief and Emergency 
                        Assistance Act (42 U.S.C. 5170), during the 
                        period of the declaration.
                            ``(ii) Continuity of services.--A small 
                        business development center that provides 
                        counselors to an area described in clause (i) 
                        shall, to the maximum extent practicable, 
                        ensure continuity of services in any State in 
                        which the small business development center 
                        otherwise provides services.
                            ``(iii) Access to disaster recovery 
                        facilities.--For purposes of this subparagraph, 
                        the Administrator shall, to the maximum extent 
                        practicable, permit the personnel of a small 
                        business development center to use any site or 
                        facility designated by the Administrator for 
                        use to provide disaster recovery assistance.''.

SEC. 4. SENSE OF CONGRESS.

    It is the sense of Congress that, subject to the availability of 
funds, the Administrator of the Small Business Administration shall, to 
the extent practicable, ensure that a small business development center 
is appropriately reimbursed for any legitimate expenses incurred in 
carrying out activities under section 21(b)(3)(B) of the Small Business 
Act (15 U.S.C. 648(b)(3)(B)), as added by this Act.
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