US Codex
Bill
Notes

H.R. 4238 — what changed

Disaster Loan Accountability and Reform Act

From Reported in House to Engrossed in House. 2 sections amended between Reported in House and Engrossed in House.

Sec. 4 Monthly disaster loan reports

Section 12091(a) of the Small Business Disaster Response and Loan Improvements Act of 2008 (15 U.S.C. 636k(a)) is amended—

(1)
in paragraph (1)—
(A)
by striking “during the applicable period for a major disaster”; and
(B)
by striking “for that major disaster”;
(2)
in paragraph (2)—
(A)
in subparagraph (E), by striking “how long the available funding for such loans will last” and inserting “the date at which available funding for such loans will reach 10 percent of the most recent appropriation and the date at which the funds will be depleted”;
(B)
in subparagraph (H), by striking “and” at the end;
(C)
in subparagraph (I), by striking the period at the end and inserting “; and”; and
(D)
by adding at the end the following:

“(J) a summary detailing any changes to estimates or assumptions on obligations and expenditures, including data supporting these changes.”

(3)
by adding at the end the following:

changed “(3) Prohibition on official travel—If the Administrator does not submit a report required to be submitted under paragraph (1) by the required date, no funds may are authorized to be obligated appropriated for official travel by the Administrator until the Administrator submits the report.”

Sec. 6 Limitations on disaster loans

Section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is amended—

(1)
by redesignating the second paragraph designated as paragraph (16), relating to statute of limitations, as added by the COVID–19 EIDL Fraud Statute of Limitations Act of 2022 (Public Law 117–165; 136 Stat. 1363), as paragraph (18); and
(2)
by inserting after paragraph (16), relating to disaster declarations in rural areas, as added by the Disaster Assistance for Rural Communities Act (Public Law 117–249; 136 Stat. 2350), the following:

changed “(17) Requirements when funding is low—Not later than 24 hours after the unobligated balance of amounts available funds authorized to be appropriated for the cost of direct loans authorized by this subsection is less than 10 percent of the 10-year average annual cost provided in the most recent Presidential budget request required under section 1105(a)(39)(A) of title 31, United States Code, or, if unavailable, the 10-year average annual cost for the immediately preceding 10-year period of SBA disaster loans (as defined in section 1105(j) of such title), the Administrator shall notify the Committee on Appropriations and the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Appropriations and the Committee on Small Business of the House of Representatives.”