[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 943 Reported in Senate (RS)]

<DOC>





                                                       Calendar No. 165
118th CONGRESS
  1st Session
                                 S. 943

   To increase the minimum disaster loan amount for which the Small 
Business Administration may require collateral, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 22, 2023

  Mr. Kennedy introduced the following bill; which was read twice and 
    referred to the Committee on Small Business and Entrepreneurship

                             July 25, 2023

               Reported by Mr. Cardin, with an amendment
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]

_______________________________________________________________________

                                 A BILL


 
   To increase the minimum disaster loan amount for which the Small 
Business Administration may require collateral, and for other purposes.

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

<DELETED>SECTION 1. SHORT TITLE.</DELETED>

<DELETED>    This Act may be cited as the ``Small Business Disaster 
Damage Fairness Act of 2023''.</DELETED>

<DELETED>SEC. 2. COLLATERAL REQUIREMENTS FOR DISASTER LOANS.</DELETED>

<DELETED>    Section 7(d)(6) of the Small Business Act (15 U.S.C. 
636(d)(6)) is amended in the third proviso--</DELETED>
        <DELETED>    (1) by striking ``$14,000'' and inserting 
        ``$25,000''; and</DELETED>
        <DELETED>    (2) by striking ``major disaster'' and inserting 
        ``disaster''.</DELETED>

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Disaster Damage 
Fairness Act of 2023''.

SEC. 2. COLLATERAL REQUIREMENTS FOR DISASTER LOANS.

    Section 7(d)(6) of the Small Business Act (15 U.S.C. 636(d)(6)) is 
amended, in the third proviso--
            (1) by striking ``$14,000'' and inserting ``$25,000''; and
            (2) by striking ``major disaster'' and inserting 
        ``disaster''.

SEC. 3. GAO REPORT ON DEFAULT RATES.

    Not later than 3 years 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 on 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)), and the impact 
of the amendments to collateral amounts made under section 2 of this 
Act on the performance of those loans, during the period--
            (1) beginning on September 30, 2020; and
            (2) ending on the date on that is 2 years after the date of 
        enactment of this Act.
                                                       Calendar No. 165

118th CONGRESS

  1st Session

                                 S. 943

_______________________________________________________________________

                                 A BILL

   To increase the minimum disaster loan amount for which the Small 
Business Administration may require collateral, and for other purposes.

_______________________________________________________________________

                             July 25, 2023

                       Reported with an amendment