Text: S.862 — 116th Congress (2019-2020)All Information (Except Text)

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Public Law No: 116-70 (11/22/2019)

 
[116th Congress Public Law 70]
[From the U.S. Government Publishing Office]



[[Page 133 STAT. 1145]]

Public Law 116-70
116th Congress

                                 An Act


 
  To extend the sunset for collateral requirements for Small Business 
   Administration disaster loans. <<NOTE: Nov. 22, 2019 -  [S. 862]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: Rebuilding Small 
Businesses After Disasters Act. 15 USC 631 note.>> 
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Rebuilding Small Businesses After 
Disasters Act''.
SEC. 2. EXTENSION OF SUNSET FOR COLLATERAL REQUIREMENTS FOR SBA 
                    DISASTER LOANS.

    Section 2102(b) of the RISE After Disaster Act of 2015 (15 U.S.C. 
636 note) is amended, in the matter preceding paragraph (1), by striking 
``4 years'' and inserting ``7 years''.
SEC. 3. GAO REPORT ON DEFAULT RATES.

    Not later than 1 year after the date of enactment of this Act, the 
Comptroller General of the United States 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 comparing--
            (1) <<NOTE: Time period.>>  the performance, including the 
        default rate, of loans made under section 7(b)(1) of the Small 
        Business Act (15 U.S.C. 636(b)(1)) during the period--
                    (A) beginning on January 1, 2000; and
                    (B) ending on the date on which the Small Business 
                Administration began making loans in accordance with the 
                amendment made by section 2102(a) of the RISE After 
                Disaster Act of 2015 (Public Law 114-88; 129 Stat. 690); 
                and
            (2) the performance, including the default rate, of loans 
        made under 7(b)(1) of the Small Business Act (15 U.S.C. 
        636(b)(1)) in accordance with the amendment made by section

[[Page 133 STAT. 1146]]

        2102(a) of the RISE After Disaster Act of 2015 (Public Law 114-
        88; 129 Stat. 690).

    Approved November 22, 2019.

LEGISLATIVE HISTORY--S. 862:
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CONGRESSIONAL RECORD, Vol. 165 (2019):
            Aug. 1, considered and passed Senate.
            Nov. 20, considered and passed House.

                                  <all>

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