,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #iaei  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #d1 #bjbf,mr4   
,soto 7= himself & ,mr4 ,patronis7      
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,small ,bus9ess  ,a    
,,bill  ,to am5d ! ,small ,bus9ess ,act 
to e/abli% a program "u :i* ! ,small    
,bus9ess ,adm9i/ration may make         
supplem5tal disa/] loans to home[n]     
associations to repair common areas     
damag$ by disa/]s & implem5t disa/]     
mitigation measures1 & = o!r purposes4  
#a4 ,%ort title  ,?is ,act may be cit$ z
 ! ,protect ,our ,homes ,act4  #b4      
,resid5tial common area repair & disa/] 
mitigation supplem5tal loans ,section #g
 ( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4
 #fcf7 is am5d$ by add+ at ! end !      
foll[+ new subsection3  7o7 ,resid5tial 
common area repair supplem5tal disa/]   
loans  7#a7 ,9 g5]al ,!re is e/abli%$ 9 
! ,adm9i/ration a ,resid5tial ,common   
,area ,repair ,loan program "u :i* !    
,adm9i/rator may make1 9 coop]ation )   

banks or o!r l5d+ in/itutions ?r\gh     
agreem5ts to p>ticipate on an imm$iate  
or def]r$ 7gu>ante$7 basis--  7,a7 loans
 to cov]$ entities to make cov]$ repairs
 to resid5tial common areas2 &  7,b7    
loans to cov]$ entities locat$ 9 rec5t  
disa/] areas to implem5t measures to    
protect f possible future disa/]s !     
prop]ty ( ! cov]$ entities t 0 damag$ or
 de/roy$ by ! applicable disa/]s4  7#b7 
,supplem5tal loan ,a cov]$ entity is    
eligible to receive a repair or         
mitigation loan ) respect to an         
applicable disa/] only if ! total am\nt 
( loans out/&+ & committ$ to su* cov]$  
entity "u subsection 7b77#a7 ) respect  
to su* applicable disa/] meets !        
applicable limit on su* am\nts = su*    
cov]$ entity "u subsection 7d77#f74     
7#c7 ,loan crit]ia  7,a7 ,limit ,!      
aggregate loan am\nt out/&+ & committ$  
to a borr[] "u ! ,program ) respect to  
an applicable disa/] may n exce$--  7i7 
9 ! case ( a borr[] t con/itutes a major
 s\rce ( employm5t 9 an area suff]+ a   

disa/]1 su* limit z det]m9$ by !        
,adm9i/rator1 up to ! great] (          
#b1jjj1jjj or su* o!r am\nt e/abli%$ by 
! ,adm9i/rator "u subsection            
7b77#h77;,b7 ) respect to su* applicable
 disa/]2 &  7ii7 = all o!r borr[]s1     
#ejj1jjj4  7,b7 ,int]e/ rate ,! int]e/  
rate on ! a loan made "u ! ,program %all
 n exce$ ! av]age annual int]e/ rate on 
all int]e/-be>+ obligations ( ! ,unit$  
,/ates !n =m+ a "p ( ! public debt z    
comput$ at ! end ( ! fiscal ye> next    
prec$+ ! date ( ! loan & adju/$ to !    
ne>e/ "o-eigh? ( #a p] c5tum plus       
"o-qu>t] ( #a p] c5tum4  7,c7 ,duration 
,no loan "u ! ,program1 includ+ r5ewals 
& ext5sions !re(1 may be made = a p]iod 
or p]iods exce$+ ?irty ye>s4  7,d7      
,small loan collat]al exclusion ,t !    
,adm9i/ration %all n require collat]al =
 loans made "u ! ,program ( #ad1jjj or  
less 7or su* high] am\nt z !            
,adm9i/rator det]m9es appropriate 9 !   
ev5t ( a major disa/]74  7,e7 ,use (    
funds  7i7 ,repair loans ,am\nts made   

available to a cov]$ entity z a repair  
loan may be us$ only = ! co/s ( cov]$   
repairs to resid5tial common areas ( su*
 cov]$ entity4  7ii7 ,mitigation loan   
,am\nts made available to a cov]$ entity
 z a mitigation loan may be us$ only to 
implem5t measures to protect f possible 
future disa/]s ! prop]ty ( su* cov]$    
entity t 0 damag$ or de/roy$ by !       
applicable disa/]4  7#d7 ,def]m5t ,!    
,adm9i/rator may def] paym5t ( pr9cipal 
& int]e/ on a loan "u ! ,program to !   
same ext5t t ! ,adm9i/rator may def]    
paym5t ( pr9cipal & int]e/ on loans "u  
subsection 7b77#a74  7#e7 ,def9itions ,9
 ?is subsection3 7,a7 ,applicable disa/]
 ,! t]m applicable disa/]--  7i7 )      
respect to a mitigation loan to a cov]$ 
entity1 means ! disa/] pursuant to :i* !
 area 9 :i* su* cov]$ entity is locat$  
is a rec5t disa/] area = ! purposes (   
su* mitigation loan2 &  7ii7 ) respect  
to a repair loan to a cov]$ entity1     
means ! natural disa/] or act ( ,god    
necessitat+ ! cov]$ repairs to          

resid5tial common areas = :i* su* repair
 loan has or w be us$4  7,b7 ,cov]$     
entity ,! t]m cov]$ entity means an     
organization-- 7i7 ! memb]%ip ( :i* is  
compris$ ( ea* own] ( a dwell+ unit ( a 
s+le resid5tial community2 &  7ii7 t is 
responsible = manag+ ! resid5tial common
 areas ( su* resid5tial community &     
en=c+ ! rules & regulations ( su*       
resid5tial community ) respect to !     
dwell+ units 9 & resid5ts & own]s (     
dwell+ units ( su* resid5tial community4
  7,c7 ,dwell+ unit ,! t]m dwell+ unit  
means a h\se1 t[nh\se1 or condom9ium4   
7,d7 ,cov]$ repair ,! t]m cov]$ repair  
means a repair1 rehabilitation1 or      
replacem5t made necess>y due to a       
natural disa/] 7o!r ?an a natural disa/]
 result+ f int5tional1 willful1 or      
reckless conduct71 or an act ( ,god1    
includ+ wat] damage1 w9d damage1 & fire 
damage associat$ ) su* a natural disa/] 
or act ( ,god4  7,e7 ,mitigation loan ,!
 t]m mitigation loan means a loan "u !  
,program describ$ 9 p>agraph 7#a77;,b74 

7,f7 ,program ,! t]m ,program means !   
,resid5tial ,common ,area ,repair ,loan 
program e/abli%$ by p>agraph 7#a74  7,g7
 ,rec5t disa/] area ,! t]m rec5t disa/] 
area1 ) respect to a mitigation loan to 
a cov]$ entity1 means an area :i* !     
,adm9i/rator det]m9es has1 9 ! five-ye> 
p]iod end+ on ! date on :i* su* cov]$   
entity submits to ! ,adm9i/rator a      
reque/ = su* mitigation loan1 be5       
affect$ by a disa/] &--  7i7 !          
,adm9i/rator det]m9es t su* disa/]      
con/itutes--  7,i7 a major disa/]1 z    
det]m9$ by ! ,presid5t "u ! ,rob]t ,t4  
,/af=d ,disa/] ,relief & ,em]g5cy       
,assi/ance ,act 7#db ,u4,s4,c4 #eaba et 
seq472  7,,ii7 a natural disa/]1 z      
det]m9$ by ! ,secret>y ( ,agriculture   
pursuant to section #cba ( !            
,consolidat$ ,f>m & ,rural ,developm5t  
,act 7#g ,u4,s4,c4 #aifa72  7,,iii7 a   
disa/]1 z det]m9$ by ! ,adm9i/rator2 or 
7,,iv7 an em]g5cy involv+ ,f$]al prim>y 
responsibility det]m9$ to exi/ by !     
,presid5t "u section #eja7;b7 ( ! ,rob]t

 ,t4 ,/af=d ,disa/] ,relief & ,em]g5cy  
,assi/ance ,act 7#db ,u4,s4,c4          
#eaia7;b772 or  7ii7 ! ,gov]nor ( !     
,/ate 9 :i* su* area is locat$ c]tifies 
to ! ,adm9i/ration1 & ! ,adm9i/rator    
agrees1 t ! small bus9ess conc]ns1      
private nonpr(it organizations1 or small
 agricultural coop]atives 9 su* area--  
7,i7 h suff]$ economic injury z ! result
 ( su* disa/]2 &  7,,ii7 are 9 ne$ (    
f9ancial assi/ance :i* is n available on
 reasonable t]ms 9 su* area4  7,h7      
,repair loan ,! t]m repair loan means a 
loan "u ! ,program describ$ 9 p>agraph  
7#a77;,a74  7,i7 ,resid5tial common area
 ,! t]m resid5tial common area means an 
area or space t is op]at$ & ma9ta9$ by a
 cov]$ entity = ! b5efit ( & use by "p  
or all ( ! resid5ts ( ! resid5tial      
community t are memb]s ( su* cov]$      
entity1 includ+ any s]vices associat$ ) 
su* an area or space1 o!r ?an any area  
or space t is locat$ 9 a dwell+ unit 9  
su* resid5tial community4  7,j7         
,resid5tial community ,! t]m resid5tial 

community means a gr\p ( dwell+ units t 
are proximately locat$ & ! own]s ( :i*  
are memb]s ( ! same cov]$ entity4  4