[Congressional Record Volume 165, Number 131 (Thursday, August 1, 2019)]
[Senate]
[Pages S5320-S5321]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




            REBUILDING SMALL BUSINESSES AFTER DISASTERS ACT

  Mr. McCONNELL. Mr. President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of Calendar No. 54, S. 862.
  The senior assistant legislative clerk read as follows:

       A bill (S. 862) to repeal the sunset for collateral 
     requirements for Small Business Administration disaster 
     loans.

  There being no objection, the Senate proceeded to consider the bill 
which had been reported from the Committee on Small Business and 
Entrepreneurship.
  Mr. McCONNELL. I ask unanimous consent that the Kennedy amendment at 
the desk be agreed to, and the bill, as amended, be considered read a 
third time.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment (No. 936), in the nature of a substitute, was agreed to 
as follows:

                (Purpose: In the nature of a substitute)

       Strike all after the enacting clause and insert the 
     following:

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Rebuilding Small Businesses 
     After Disasters Act''.

[[Page S5321]]

  


     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).

  The bill was ordered to be engrossed for a third reading and was read 
the third time.
  Mr. McCONNELL. I know of no further debate on the bill, as amended.
  The PRESIDING OFFICER. Is there further debate?
  Hearing none, the bill having been read the third time, the question 
is, Shall the bill pass?
  The bill (S. 862), as amended, was passed.
  Mr. McCONNELL. I ask unanimous consent that the Kennedy title 
amendment be agreed to, and that the motions to reconsider be 
considered made and laid upon the table.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment (No. 937) was agreed to as follows:

                     (Purpose: To amend the title)

       Amend the title so as to read: ``A bill to extend the 
     sunset for collateral requirements for Small Business 
     Administration disaster loans.''.

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