What a yes vote endorsed
DLARA
What this does
The bill adds reporting and accountability requirements to the Small Business Administration's disaster loan program. It expands the SBA's monthly disaster loan reports and cuts off funds for the Administrator's official travel if a required monthly report is late. It requires the President's budget to state the cost of SBA disaster loans and COVID-EIDL loans against their 10-year averages, and requires the SBA to notify congressional committees within 24 hours when disaster loan funds fall below 10 percent of the 10-year average. It also orders the Government Accountability Office to report on the disaster loan account and on recent rule changes, and requires the SBA to report on fixes to its budget forecasting.
Passed the House by voice vote
How we know · 7 sourced claims
- The bill adds reporting and accountability requirements to the Small Business Administration's disaster loan program.Source: Sec. 1
- It expands the SBA's monthly disaster loan reports.Source: Sec. 4
- It cuts off funds for the Administrator's official travel if a required monthly report is late.Source: Sec. 4
- It requires the President's budget to state the cost of SBA disaster loans and COVID-EIDL loans against their 10-year averages.Source: Sec. 5
- It requires the SBA to notify congressional committees within 24 hours when disaster loan funds fall below 10 percent of the 10-year average.Source: Sec. 6
- It orders the Government Accountability Office to report on the disaster loan account and on recent rule changes.Source: Sec. 7 and Sec. 8
- It requires the SBA to report on fixes to its budget forecasting.Source: Sec. 9