,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #bjah  ,,in ,,the ,,house ,,of  
,,representatives  ,april #a1 #bjai,mr4 
,smith of ,new ,jersey introduced the   
following bill2 which was referred to   
the ,committee on ,small ,business1 and 
in addition to the ,committees on       
,financial ,services1 and               
,transportation and ,infrastructure1 for
 a period to be subsequently determined 
by the ,speaker1 in each case for       
consideration of such provisions as fall
 within the jurisdiction of the         
committee concerned  ,a ,,bill  ,to     
amend the ,small ,business ,act to allow
 small business concerns1 homeowners1 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 ,administration1   
and for other purposes4  #a4 ,short     
title ,this ,act may be cited as the    
,equity for ,disaster ,victims ,act of  
#bjai4  #b4 ,use of certain ,superstorm 

,sandy grant funds for repayment of     
certain disaster assistance provided by 
the ,small ,business ,administration    
,section #g7;f7 of the ,small ,business 
,act 7#ae ,u4,s4,c4 #fcf7;f77 7relating 
to additional requirements for #g7;b7   
loans7 is amended by adding at the end  
the following new paragraph3  7#b7      
,superstorm ,sandy ,,cdbg-,,dr grant    
funds  7,a7 ,in general  7i7 ,loans to  
repair1 rehabilitate1 or replace real   
property ,a small business concern1     
homeowner1 or nonprofit entity that     
received a loan pursuant to subsection  
7b77#a77;,a7 for the purpose of         
repairing1 rehabilitating1 or replacing 
real property damaged or destroyed by or
 as a result of ,superstorm ,sandy may  
receive ,superstorm ,sandy ,,cdbg-,,dr  
grant funds only if such grant funds    
will be used to repay the principal and 
any interest accrued on the loan4  7ii7 
,loans to refinance a mortgage ,a small 
business concern1 homeowner1 or         
nonprofit entity that received a loan   

pursuant to subsection 7b77#a77;,b7 to  
refinance a mortgage or other lien      
against a home or business concern that 
was totally destroyed or substantially  
damaged by or as a result of ,superstorm
 ,sandy may receive ,superstorm ,sandy  
,,cdbg-,,dr grant funds only if the     
amount of such grant funds will be used 
to repay the amount received under such 
subsection 7b77#a77;,b74  7iii7         
,additional disaster assistance ,a small
 business concern1 homeowner1 or        
nonprofit entity that received          
additional disaster assistance pursuant 
to subsection 7b77#i7 for a loan        
described in clause 7i7 or the          
refinancing described in clause 7ii7 may
 receive ,superstorm ,sandy ,,cdbg-,,dr 
grant funds only if such grant funds    
will be used--  7,i7 to repay the       
principal and any interest accrued on a 
loan described in clause 7i72 or  7,,ii7
 to repay the amount received from a    
loan described in clause 7ii74  7,b7    
,definition ,the term ,superstorm ,sandy

 ,,cdbg-,,dr grant funds means amounts  
made available by the ,department of    
,housing and ,urban ,development under  
the heading ,department of ,housing and 
,urban ,development--,community         
,planning and ,development--,community  
,development ,fund in title ,x of the   
,disaster ,relief ,appropriations ,act1 
#bjac 7division ,a of ,public ,law      
#aac-b2 #abg ,stat4 #cf7 only for       
impacted and distressed areas resulting 
from a major disaster declared pursuant 
to the ,robert ,t4 ,stafford ,disaster  
,relief and ,emergency ,assistance ,act 
7#db ,u4,s4,c4 #eaba et seq47 due to    
,superstorm ,sandy for activities       
authorized under title ,i of the        
,housing and ,community ,development    
,act of #aigd 7#db ,u4,s4,c4 #ecja et   
seq474  4  #c4 ,use of other disaster   
assistance for repayment of certain     
disaster assistance provided by the     
,small ,business ,administration        
,section #g7;b7 of the ,small ,business 
,act 7#ae ,u4,s4,c4 #fcf7;b77 is amended

 by inserting after paragraph 7#ae7 the 
following new paragraph3  7#af7 ,use of 
other disaster assistance ,as determined
 by the ,administrator1 a small business
 concern1 homeowner1 or nonprofit entity
 who receives assistance pursuant to any
 other law 7except for assistance       
received pursuant to the ,robert ,t4    
,stafford ,disaster ,relief and         
,emergency ,assistance ,act 7#db        
,u4,s4,c4 #eaba et seq477 to repair1    
rehabilitate1 or replace real property  
damaged or destroyed by or as a result  
of a major disaster declared by the     
,president under section #dja of the    
,robert ,t4 ,stafford ,disaster ,relief 
and ,emergency ,assistance ,act 7#db    
,u4,s4,c4 #eagj7 on or after the date of
 enactment of this paragraph may use    
such assistance to repay the principal  
and any interest accrued on a loan or   
the amount of other assistance received 
under this subsection4  4  #d4          
,treatment of funds ,notwithstanding the
 sixth and tenth provisos under the     

heading ,department of ,housing and     
,urban ,development--,community         
,planning and ,development--,community  
,development ,fund in title ,x of the   
,disaster ,relief ,appropriations ,act1 
#bjac 7division ,a of ,public ,law      
#aac-b2 #abg ,stat4 #cg71 to the extent 
that amounts are made available under   
such heading1 the procedures preventing 
the duplication of benefits shall not   
apply with respect to such amounts used 
for the purposes of paragraph 7#b7 of   
section #g7;f7 of the ,small ,business  
,act 7#ae ,u4,s4,c4 #fcf7;f771 as added 
by this ,act4