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S. 1853 (115th): Small Business Disaster Relief Act of 2017

The text of the bill below is as of Sep 25, 2017 (Introduced).


II

115th CONGRESS

1st Session

S. 1853

IN THE SENATE OF THE UNITED STATES

September 25, 2017

(for himself and Mr. Rubio) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship

A BILL

To provide disaster relief to small businesses, and for other purposes.

1.

Short title

This Act may be cited as the Small Business Disaster Relief Act of 2017.

2.

Sense of Congress regarding disaster loan processing

It is the sense of Congress that the Administrator of the Small Business Administration should use district offices of the Administration whenever possible to expedite the processing of disaster loans under section 7(b) of the Small Business Act (15 U.S.C. 636(b)).

3.

Small business development center portability grants

Section 21(a)(4)(C)(viii) of the Small Business Act (15 U.S.C. 648(a)(4)(C)(viii)) is amended—

(1)

in the first sentence, by striking as a result of a business or government facility down sizing or closing, which has resulted in the loss of jobs or small business instability and inserting due to events that have resulted or will result in a business or government facility downsizing or closing; and

(2)

by adding at the end the following: At the discretion of the Administrator, the Administrator may make an award greater than $100,000 to a recipient to accommodate extraordinary occurrences having a catastrophic impact on the small business concerns in a community..

4.

Disaster assistance to critical enterprises

Section 237 of the Disaster Relief Act of 1970 (15 U.S.C. 636d) is amended—

(1)

by redesignating subsection (b) as subsection (c); and

(2)

in subsection (a)—

(A)

by striking Farmers Home Administration and inserting Farm Service Agency;

(B)

by striking major disaster or and inserting major disaster or is vital to recovery efforts in the disaster area (including providing debris removal services, manufactured housing, gasoline, telecommunications, or building materials),; and

(C)

by striking Loans authorized and inserting the following:

(b)

Terms and conditions

Notwithstanding any other provision of law, loans authorized by this section—

(1)

shall be made without regard to limitations on the size of loans which may otherwise be imposed by any other provision of law or regulations promulgated pursuant thereto; and

(2)

may waive any required evaluation of creditworthiness in exchange for a fee, as set by the Small Business Administration or the Farm Service Agency, as applicable.

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