public-law-114-88•Public Law 114–88: To improve the disaster assistance programs of the Small Business Administration.
Public Law 114–88: To improve the disaster assistance programs of the Small Business Administration.
public-law-114-88Public Law 114-88Statute
As enacted: this collection preserves GovInfo's listed Beta USLM public-law XML, including printed amendment instructions and legislative history. Later amendments are not consolidated here; availability in this XML inventory does not establish completeness of all laws enacted by Congress.
[H.R. 208]
Recovery Improvements for Small Entities After Disaster Act of 2015.
SHORT TITLE; TABLE OF CONTENTS.
15 USC 631 note.
Short Title.—
Table of Contents.—
Superstorm Sandy Relief and Disaster Loan Program Improvement Act of 2015.
SUPERSTORM SANDY RELIEF AND DISASTER LOAN PROGRAM IMPROVEMENTS
15 USC 631 note.
SHORT TITLE.
15 USC 636 note.
FINDINGS.
DISASTER ASSISTANCE IMPROVEMENTS
REVISED DISASTER DEADLINE.
Disaster loans for superstorm sandy.—
In general.—
Timing.—
Inspector general review.—
USE OF PHYSICAL DAMAGE DISASTER LOANS TO CONSTRUCT SAFE ROOMS.
REDUCING DELAYS ON CLOSING AND DISBURSEMENT OF LOANS.
Reducing closing and disbursement delays.—
Notification.
Web posting.
The Administrator shall provide a clear and concise notification on all application materials for loans made under this subsection and on relevant websites notifying an applicant that the applicant may submit all documentation necessary for the approval of the loan at the time of application and that failure to submit all documentation could delay the approval and disbursement of the loan.”SAFEGUARDING TAXPAYER INTERESTS AND INCREASING TRANSPARENCY IN LOAN APPROVALS.
Increasing transparency in loan approvals.—
Procedures.
The Administrator shall establish and implement clear, written policies and procedures for analyzing the ability of a loan applicant to repay a loan made under this subsection.”15 USC 6571 note.
DISASTER PLAN IMPROVEMENTS.
Recovery Improvements for Small Entities After Disaster Act of 2015.
RECOVERY IMPROVEMENTS FOR SMALL ENTITIES
15 USC 631 note.
SHORT TITLE.
IMPROVEMENTS OF DISASTER RESPONSE AND LOANS
ADDITIONAL AWARDS TO SMALL BUSINESS DEVELOPMENT CENTERS, WOMEN’S BUSINESS CENTERS, AND SCORE FOR DISASTER RECOVERY.
Grants.
Contracts.
Additional awards to small business development centers, women’s business centers, and score for disaster recovery.—
In general.—
Form of financial assistance.—
No matching funds required.—
Requirements.—
Performance.—
In general.—
Use of estimates.—
Term.—
In general.—
Extension.—
Exemption from other program requirements.—
Competitive basis.—
COLLATERAL REQUIREMENTS FOR DISASTER LOANS.
In General.—
Sunset.—
Effective date.
15 USC 636 note.
Effective on the date that is 3 years after the date of enactment of this Act, section 7(d)(6) of the Small Business Act (15 U.S.C. 636(d)(6))Report.—
Assessment.
Recommenda-
tion.
ASSISTANCE TO OUT-OF-STATE BUSINESS CONCERNS TO AID IN DISASTER RECOVERY.
In General.—
Assistance to out-of-state small business concerns.—
In general.—
Disaster recovery assistance.—
In general.—
Term.—
In general.—
Extension.—
Continuity of services.—
Access to disaster recovery facilities.—
Sense of Congress.—
FAST PROGRAM.
Definitions.—
Catastrophic incident.—
Priority.—
Additional Assistance.—
Additional assistance for catastrophic incidents.—
Waiver authority.
USE OF FEDERAL SURPLUS PROPERTY IN DISASTER AREAS.
Definition.
Time period.
RECOVERY OPPORTUNITY LOANS.
Definition.
Time period.
Recovery opportunity loans.—
In general.—
Maximums.—
Overall cap.—
Operations.—
Certification.
A small business concern receiving a loan guaranteed under clause (i) shall certify that the small business concern was in operation on the date on which the applicable major disaster occurred as a condition of receiving the loan.Repayment ability.—
Timing of payment of guarantees.—
In general.—
Deadline.
Determination.
Not later than 90 days after the date on which a request for purchase is filed with the Administrator, the Administrator shall determine whether to pay the guaranteed portion of the loan.Recapture.—
Fees.—
In general.—
Exception.—
Rules.—
Deadline.
Not later than 270 days after the date of enactment of this subparagraph, the Administrator shall promulgate rules to carry out this subparagraph.”CONTRACTOR MALFEASANCE.
Supplemental assistance for contractor malfeasance.—
In general.—
Requirements.—
Audit.
Any mitigation activities shall be subject to audit and independent verification of completeness and cost reasonableness.”LOCAL CONTRACTING PREFERENCES AND INCENTIVES.
Contracting Preference for Small Business Concerns in a Major Disaster Area.—
Definition.—
Contracting preference.—
Credit for meeting contracting goals.—
CLARIFICATION OF COLLATERAL REQUIREMENTS.
Determination.
DISASTER PLANNING AND MITIGATION
BUSINESS RECOVERY CENTERS.
Business recovery centers.—
In general.—
Requirements for identification.—
OTHER PROVISIONS
INCREASED OVERSIGHT OF ECONOMIC INJURY DISASTER LOANS.
In General.—
Increased oversight of economic injury disaster loans.—
Sense of Congress Relating To Using Existing Funds.—
GAO REPORT ON PAPERWORK REDUCTION.
REPORT ON WEB PORTAL FOR DISASTER LOAN APPLICANTS.
Report on Web Portal for Disaster Loan Application Status.—
In general.—
Contents.—
Recommenda-
tions.
LEGISLATIVE HISTORY—H.R. 208 (S. 1811):
CONGRESSIONAL RECORD, Vol. 161 (2015):
July 13, considered and passed House.
Oct. 21, considered and passed Senate, amended.
Nov. 16, House concurred in Senate amendments.
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