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Code · BILL · 119th Congress · S. 300 (Introduced in Senate) — To improve accountability in the disaster loan program of the Small Business Administration, and for other purposes. · Sec. 5

Sec. 5. Budget request relating to disaster loans

306 words·~1 min read·/bill/119/s/300/is/section-5

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Section 1105 of title 31, United States Code, is amended— in subsection (a), by adding at the end the following: separate statements of— the amount of appropriations requested for the fiscal year for which the budget is submitted for the cost of SBA disaster loans, the 10-year average of the cost of SBA disaster loans, and an explanation for any difference between the amount requested and the 10-year average cost; and the amount of appropriations requested for the fiscal year for which the budget is submitted for the cost of COVID-EIDL loans, the 10-year average of the cost of COVID-EIDL loans, and an explanation for any difference between the amount requested and the 10-year average cost. separate statements of— the amount of appropriations requested for the fiscal year for which the budget is submitted for administrative costs relating to SBA disaster loans, the 10-year average of such administrative costs, and an explanation for any difference between the amount requested and the 10-year average costs; and the amount of appropriations requested for the fiscal year for which the budget is submitted for administrative costs relating to COVID-EIDL loans, the 10-year average of such administrative costs, and an explanation for any difference between the amount requested and the 10-year average costs. ; and by adding at the end the following:
In paragraphs
(39)and
(40)of subsection (a)— the term COVID-EIDL loan means a direct loan under section 7(b) of the Small Business Act ( 15 U.S.C. 636(b) ) that was authorized under section 1110 of the CARES Act ( 15 U.S.C. 9009 ); and the term SBA disaster loan means a direct loan authorized by section 7(b) of the Small Business Act ( 15 U.S.C. 636(b) ), other than a loan that was authorized under section 1110 of the CARES Act ( 15 U.S.C. 9009 ). .
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Sec. 5
Budget request relating to disaster loans
U.S.C.§ 636
U.S.C.§ 9009
Cites 2Cited by 0 across 0 sources
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