summary
Introduced
03/22/2023
03/22/2023
In Committee
07/19/2023
07/19/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A bill to increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes.
AI Summary
This bill, the Small Business Disaster Damage Fairness Act of 2023, aims to increase the minimum disaster loan amount for which the Small Business Administration (SBA) may require collateral from $14,000 to $25,000. This change applies to all disasters, not just major disasters. Additionally, the bill requires the Government Accountability Office (GAO) to submit a report to Congress on the performance, including the default rate, of SBA disaster loans made during the period from September 30, 2020, to two years after the bill's enactment, and the impact of the increased collateral threshold on the performance of those loans.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Placed on Senate Legislative Calendar under General Orders. Calendar No. 165. (on 07/25/2023)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Domestic Disaster Relief
- ‐ Small Business
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/senate-bill/943/all-info | 03/23/2023 |
| BillText | https://www.congress.gov/118/bills/s943/BILLS-118s943rs.pdf | 07/27/2023 |
| BillText | https://www.congress.gov/118/bills/s943/BILLS-118s943is.pdf | 04/08/2023 |
Loading...