Small Business Disaster Recovery Improvement Act

II 116TH CONGRESS 1ST SESSION S. 2148 To amend the Small Business Act to provide additional awards for disaster recovery, and for other purposes. IN THE SENATE OF THE UNITED STATES JULY 17, 2019 Mr. KENNEDY introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To amend the Small Business Act to provide additional awards for disaster recovery, 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 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Small Business Dis- 4 aster Recovery Improvement Act’’. 5 SEC. 2. ADDITIONAL AWARDS FOR DISASTER RECOVERY. 6 Section 7(b)(12) of the Small Business Act (15 7 U.S.C. 636(b)(12)) is amended— 8 (1) in subparagraph (A), by striking ‘‘may’’ and 9 inserting ‘‘shall’’; and 10 VerDate Sep 11 2014 02:49 Jul 20, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2148.IS S2148 kjohnson on DSK79L0C42 with BILLS 2 •S 2148 IS (2) by adding at the end the following: 1 ‘‘(I) AWARD AMOUNT.— 2 ‘‘(i) IN GENERAL.—The total amount 3 of financial assistance provided under this 4 paragraph in a fiscal year shall be in an 5 amount that is not less than 3 percent and 6 not more than 5 percent of the total 7 amount made available for that fiscal year 8 for administrative expenses to carry out 9 the disaster loan program under this sub- 10 section, including amounts made available 11 as emergency supplemental appropriations. 12 ‘‘(ii) REMAINDER.—Any financial as- 13 sistance allocated to an entity under clause 14 (i) that remains unobligated by the end of 15 the fiscal year in which the financial assist- 16 ance is made available shall be reallocated 17 to the Administrator to provide loans 18 under this subsection.’’. 19 Æ VerDate Sep 11 2014 02:49 Jul 20, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S2148.IS S2148 kjohnson on DSK79L0C42 with BILLS