116 S 862 ENR: To extend the sunset for collateral requirements for Small Business Administration disaster loans.
Senate Bill862116 S 862 ENR
116s862enr
116 S. 862 ENR
United States SenateUnited States Government Publishing Officetext/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.ENR
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1161public
S.862
One Hundred Sixteenth Congress of the United States of AmericaA T T H E F I R S T S E S S I O N
Begun and held at the City of Washington on Thursday, the third day of January, two thousand and nineteen
An Act
To extend the sunset for collateral requirements for Small Business Administration disaster loans.
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 “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) 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.