[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9611 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 9611

   To increase the minimum disaster loan amount for which the Small 
Business Administration may require collateral, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                           September 16, 2024

  Mr. Neguse (for himself and Mr. Obernolte) introduced the following 
      bill; which was referred to the Committee on Small Business

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                                 A BILL


 
   To increase the minimum disaster loan amount for which the Small 
Business Administration may require collateral, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Small Business Disaster Damage 
Fairness Act of 2024''.

SEC. 2. COLLATERAL REQUIREMENTS FOR DISASTER LOANS.

    Section 7(d)(6) of the Small Business Act (15 U.S.C. 636(d)(6)) is 
amended, in the third proviso--
            (1) by striking ``$14,000'' and inserting ``$50,000''; and
            (2) by striking ``major disaster'' and inserting 
        ``disaster''.

SEC. 3. GAO REPORT ON DEFAULT RATES.

    Not later than 3 years after the date of the enactment of this Act, 
the Comptroller General of the United States shall submit to the 
Committee on Small Business and Entrepreneurship of the Senate and the 
Committee on Small Business of the House of Representatives a report on 
the performance, including the default rate, of loans made under 
section 7(b)(1) of the Small Business Act (15 U.S.C. 636(b)(1)), and 
the impact of the amendments to collateral amounts made under section 2 
of this Act on the performance of those loans, during the period--
            (1) beginning on September 30, 2020; and
            (2) ending on the date on that is 2 years after the date of 
        the enactment of this Act.
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