DLARA
SBA Disaster Loan Program: New Oversight and Spending Rules
This bill has been approved by its committee and is now waiting for a vote by the full Senate. It is currently placed on the Senate calendar for future consideration. The bill is actively moving through the legislative process.
Legislative Progress
This bill has bipartisan support and passed through the committee stage quickly to address recent budget problems that affected disaster victims.
Key Points
- This bill changes how the Small Business Administration manages its disaster loan program. It requires the agency to give Congress monthly updates on how much money is left for loans to homeowners and businesses after disasters like hurricanes or fires.
- If the head of the agency fails to turn in these reports on time, they would be banned from using government money for official travel until the paperwork is finished. This rule is meant to make sure the agency stays open and honest about its spending.
- The bill sets up a warning system for when loan money starts running low. If funds drop below 10 percent of the usual 10-year average, the agency must tell Congress within 24 hours and may have to limit how much money it gives out to new applicants.
- Government watchdogs will investigate why the program ran out of money in late 2024. They will look at whether the agency made mistakes in its math or if internal reorganizations made it harder to track the budget.
- Future budget requests from the White House will have to include more detail. They must show the 10-year average cost of these loans and explain why they are asking for more or less than that amount for the coming year.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Placed on Senate Legislative Calendar under General Orders. Calendar No. 22.
The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.
Committee on Small Business and Entrepreneurship. Reported by Senator Ernst with an amendment in the nature of a substitute. Without written report.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
DLARA
Data Sources
Sponsor
Cosponsors
(9)Analysis generated by AI. Always verify with official sources.