Bill > HR4238

This bill, known as the Disaster Loan Accountability and Reform Act (DLARA), aims to improve transparency and accountability in the Small Business Administration's (SBA) disaster loan program. The bill introduces several key provisions, including mandatory monthly reports on disaster loans that must detail funding availability, potential depletion dates, and changes in financial estimates, with a penalty of prohibiting official travel if reports are not submitted on time. It requires the SBA to provide more detailed budget requests that separately account for disaster loan costs and administrative expenses, including a 10-year average comparison. The bill also establishes new procedures for when disaster loan funding is low, requiring the SBA to notify Congress when funding drops below 10% of the average annual cost and potentially limiting new loan obligations. Additionally, the bill mandates multiple reviews and reports, including a Government Accountability Office (GAO) report on loan account activities, an assessment of recent rule changes to the disaster loan program, and an Inspector General review of any funding shortfalls. The SBA must also submit reports detailing how it will improve budget forecasting and data quality for disaster loan programs. These measures are designed to enhance oversight, improve financial planning, and ensure more effective management of SBA disaster loan resources.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/4238/all-info