H.R. 4215 — Introduced in House

I 117th CONGRESS 1st Session H. R. 4215 IN THE HOUSE OF REPRESENTATIVES June 29, 2021Ms. Salazar (for herself, Mrs. Luria, Mr. Crenshaw, Mr. Graves of Louisiana, Mr. Weber of Texas, Mr. Nehls, Mr. Carl, Mr. Austin Scott of Georgia, Mr. LaMalfa, Mr. Neguse, Mr. Crawford, Mrs. Hinson, Mrs. Miller of West Virginia, Mr. Gimenez, Mr. Rouzer, Mr. Swalwell, Ms. Letlow, Mrs. Miller-Meeks, Ms. Malliotakis, Mr. Higgins of Louisiana, Mrs. Rodgers of Washington, Mr. Rice of South Carolina, Mr. Mast, Ms. Mace, Mr. Valadao, Mr. Babin, Mr. Carter of Georgia, Mr. Cloud, Mr. Case, Mr. Murphy of North Carolina, Miss González-Colón, Mr. Mann, Mr. Bentz, Mr. Guest, Mr. Butterfield, and Mr. Crist) introduced the following bill; which was referred to the Committee on Small Business A BILL To direct the Administrator of the Small Business Administration to increase certain disaster loan limits, and for other purposes. 1. Short title This Act may be cited as the Rebuilding Communities After Disasters Act. 2. Modifications to the disaster loan program (a) In general The Administrator of the Small Business Administration shall revise section 123.105 of chapter 13, Code of Federal Regulations, and any other relevant rule or guidance, to ensure that the loan limits for the disaster loan program are as follows: (1) With respect to a loan for repair or replacement of household and personal effects, $75,000. (2) With respect to a loan for repair or replacement of a primary residence, $400,000. (b) Requirement To communicate information about disasters Section 7(b)(5) of the Small Business Act (15 U.S.C. 636(b)(5)) is amended by striking make every effort to. (c) Program evaluation Not later than December 31, 2022, and every 12 months thereafter, the Administrator shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on the disaster loan program, including— (1) a list of the geographic areas in which recipients of loans under such program are located; (2) the number and dollar value of the loans made under such program; (3) a description of outreach conducted pursuant to subsection (b); (4) plans for future outreach relating to the disaster loan program; and (5) the average estimated dollar value of damage sustained by borrowers under such program. (d) Definitions In this Act: (1) Administrator The term Administrator means the Administrator of the Small Business Administration. (2) Disaster loan program The term disaster loan program means the loan program established under section 7(b) of the Small Business Act (15 U.S.C. 636(b)). (3) Small business concern The term small business concern has the meaning given under section 3 of the Small Business Act (15 U.S.C. 632).