US Congress Senate Bill 956 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on April 15 2015 - 25% progression, died in committee
Action: 2015-04-15 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]

Small Business Disaster Reform Act of 2015 Amends the Small Business Act with respect to obtaining the best available collateral for a disaster loan of up to $200,000 relating to damage to or destruction of the property of, or economic injury to, a small business. Prohibits the Administrator of the Small Business Administration (SBA), in obtaining such collateral, from requiring the small business owner to use the owner's primary residence as collateral if the owner has other assets with a value equal to or greater than the loan amount that could be used. Allows the Administrator to authorize a Small Business Development Center (SBDC) to provide assistance to small businesses outside the state of that SBDC, without regard to geographical proximity, if the small business is in a declared major disaster area. Expresses the sense of Congress that the Administrator shall ensure that a SBDC is appropriately reimbursed for any legitimate expenses in carrying out such assistance. Directs the Administrator to increase oversight of small businesses receiving economic injury disaster loans, including random site visits and random reviews of loan usage. Expresses the sense of Congress that no additional federal funds shall be made available for such increased oversight. Expresses the sense of Congress that the Administrator should: (1) reduce paperwork burdens on small businesses applying for SBA disaster assistance loans; and (2) ensure that the application for such assistance facilitates deterring and detecting potential instances of waste, fraud, and abuse. Requires the Administrator to take steps to reduce such paperwork. Requires a report from the Administrator to specified congressional committees relating to the creation of a web portal to track the status of applications for SBA disaster assistance.

Small Business Disaster Reform Act of 2015

Sen. Heidi Heitkamp [D-ND]

Date	Chamber	Action
2015-04-15	Senate	Read twice and referred to the Committee on Small Business and Entrepreneurship.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/956/all-info
Text	https://www.congress.gov/114/bills/s956/BILLS-114s956is.pdf