Equity for Disaster Victims Act of 2019

I 116TH CONGRESS 1ST SESSION H. R. 2018 To amend the Small Business Act to allow small business concerns, home- owners, or nonprofit entities to use certain Superstorm Sandy grant funds or other disaster assistance received to repay certain disaster assistance provided by the Small Business Administration, and for other purposes. IN THE HOUSE OF REPRESENTATIVES APRIL 1, 2019 Mr. SMITH of New Jersey introduced the following bill; which was referred to the Committee on Small Business, and in addition to the Committees on Financial Services, and Transportation and Infrastructure, for a pe- riod to be subsequently determined by the Speaker, in each case for con- sideration of such provisions as fall within the jurisdiction of the com- mittee concerned A BILL To amend the Small Business Act to allow small business concerns, homeowners, or nonprofit entities to use cer- tain Superstorm Sandy grant funds or other disaster assistance received to repay certain disaster assistance provided by the Small Business Administration, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 VerDate Sep 11 2014 01:05 Apr 13, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2018.IH H2018 pamtmann on DSKBFK8HB2PROD with BILLS 2 •HR 2018 IH SECTION 1. SHORT TITLE. 1 This Act may be cited as the ‘‘Equity for Disaster 2 Victims Act of 2019’’. 3 SEC. 2. USE OF CERTAIN SUPERSTORM SANDY GRANT 4 FUNDS FOR REPAYMENT OF CERTAIN DIS- 5 ASTER ASSISTANCE PROVIDED BY THE 6 SMALL BUSINESS ADMINISTRATION. 7 Section 7(f) of the Small Business Act (15 U.S.C. 8 636(f)) (relating to additional requirements for 7(b) loans) 9 is amended by adding at the end the following new para- 10 graph: 11 ‘‘(2) SUPERSTORM SANDY CDBG–DR GRANT 12 FUNDS.— 13 ‘‘(A) IN GENERAL.— 14 ‘‘(i) LOANS TO REPAIR, REHABILI- 15 TATE, OR REPLACE REAL PROPERTY.—A 16 small business concern, homeowner, or 17 nonprofit entity that received a loan pursu- 18 ant to subsection (b)(1)(A) for the purpose 19 of repairing, rehabilitating, or replacing 20 real property damaged or destroyed by or 21 as a result of Superstorm Sandy may re- 22 ceive Superstorm Sandy CDBG–DR grant 23 funds only if such grant funds will be used 24 to repay the principal and any interest ac- 25 crued on the loan. 26 VerDate Sep 11 2014 01:05 Apr 13, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H2018.IH H2018 pamtmann on DSKBFK8HB2PROD with BILLS 3 •HR 2018 IH ‘‘(ii) LOANS TO REFINANCE A MORT- 1 GAGE.—A small business concern, home- 2 owner, or nonprofit entity that received a 3 loan pursuant to subsection (b)(1)(B) to 4 refinance a mortgage or other lien against 5 a home or business concern that was to- 6 tally destroyed or substantially damaged by 7 or as a result of Superstorm Sandy may 8 receive Superstorm Sandy CDBG–DR 9 grant funds only if the amount of such 10 grant funds will be used to repay the 11 amount received under such subsection 12 (b)(1)(B). 13 ‘‘(iii) ADDITIONAL DISASTER ASSIST- 14 ANCE.—A small business concern, home- 15 owner, or nonprofit entity that received ad- 16 ditional disaster assistance pursuant to 17 subsection (b)(9) for a loan described in 18 clause (i) or the refinancing described in 19 clause (ii) may receive Superstorm Sandy 20 CDBG–DR grant funds only if such grant 21 funds will be used— 22 ‘‘(I) to repay the principal and 23 any interest accrued on a loan de- 24 scribed in clause (i); or 25 VerDate Sep 11 2014 01:05 Apr 13, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H2018.IH H2018 pamtmann on DSKBFK8HB2PROD with BILLS 4 •HR 2018 IH ‘‘(II) to repay the amount re- 1 ceived from a loan described in clause 2 (ii). 3 ‘‘(B) DEFINITION.—The term ‘Superstorm 4 Sandy CDBG–DR grant funds’ means amounts 5 made available by the Department of Housing 6 and Urban Development under the heading ‘De- 7 partment of Housing and Urban Develop- 8 ment—Community Planning and Develop- 9 ment—Community Development Fund’ in title 10 X of the Disaster Relief Appropriations Act, 11 2013 (division A of Public Law 113–2; 127 12 Stat. 36) only for impacted and distressed areas 13 resulting from a major disaster declared pursu- 14 ant to the Robert T. Stafford Disaster Relief 15 and Emergency Assistance Act (42 U.S.C. 5121 16 et seq.) due to Superstorm Sandy for activities 17 authorized under title I of the Housing and 18 Community Development Act of 1974 (42 19 U.S.C. 5301 et seq.).’’. 20 VerDate Sep 11 2014 01:05 Apr 13, 2019 Jkt 089200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H2018.IH H2018 pamtmann on DSKBFK8HB2PROD with BILLS 5 •HR 2018 IH SEC. 3. USE OF OTHER DISASTER ASSISTANCE FOR REPAY- 1 MENT OF CERTAIN DISASTER ASSISTANCE 2 PROVIDED BY THE SMALL BUSINESS ADMIN- 3 ISTRATION. 4 Section 7(b) of the Small Business Act (15 U.S.C. 5 636(b)) is amended by inserting after paragraph (15) the 6 following new paragraph: 7 ‘‘(16) USE OF OTHER DISASTER ASSISTANCE.— 8 As determined by the Administrator, a small busi- 9 ness concern, homeowner, or nonprofit entity who 10 receives assistance pursuant to any other law (except 11 for assistance received pursuant to the Robert T. 12 Stafford Disaster Relief and Emergency Assistance 13 Act (42 U.S.C. 5121 et seq.)) to repair, rehabilitate, 14 or replace real property damaged or destroyed by or 15 as a result of a major disaster declared by the Presi- 16 dent under section 401 of the Robert T. Stafford 17 Disaster Relief and Emergency Assistance Act (42 18 U.S.C. 5170) on or after the date of enactment of 19 this paragraph may use such assistance to repay the 20 principal and any interest accrued on a loan or the 21 amount of other assistance received under this sub- 22 section.’’. 23 SEC. 4. TREATMENT OF FUNDS. 24 Notwithstanding the sixth and tenth provisos under 25 the heading ‘‘Department of Housing and Urban Develop- 26 VerDate Sep 11 2014 01:05 Apr 13, 2019 Jkt 089200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\H2018.IH H2018 pamtmann on DSKBFK8HB2PROD with BILLS 6 •HR 2018 IH ment—Community Planning and Development—Commu- 1 nity Development Fund’’ in title X of the Disaster Relief 2 Appropriations Act, 2013 (division A of Public Law 113– 3 2; 127 Stat. 37), to the extent that amounts are made 4 available under such heading, the procedures preventing 5 the duplication of benefits shall not apply with respect to 6 such amounts used for the purposes of paragraph (2) of 7 section 7(f) of the Small Business Act (15 U.S.C. 636(f)), 8 as added by this Act. 9 Æ VerDate Sep 11 2014 01:05 Apr 13, 2019 Jkt 089200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6301 E:\BILLS\H2018.IH H2018 pamtmann on DSKBFK8HB2PROD with BILLS