Bill would tighten oversight of SBA disaster loan program
Placed on the calendarS. 300Latest action
Sponsor: Ted Budd · Senator · NC
AIDecoded by AI · checked against the recordRead the official text
Official title: DLARA
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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The bill adds reporting rules and oversight to the SBA's disaster loan program without changing loan eligibility.
40-second read · 4 questions answered below
What does this do?
The Disaster Loan Accountability and Reform Act requires the SBA to send Congress detailed monthly reports on disaster loan spending, including warnings when funding runs low. If funds drop too low, the SBA could limit loans to amounts requiring collateral and must notify Congress within 24 hours, a restriction that expires after four years. The and SBA's must also investigate past funding shortfalls and report to Congress.
Who does it affect?
The SBA and its Administrator, homeowners, renters, and businesses who use SBA disaster loans, and Congress as recipient of the new reports.
Why does it matter?
The changes affect SBA internal operations and congressional communication rather than loan eligibility, though better-managed funding could indirectly affect loan availability during future disasters.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Reported to Senate” text of Mar 4, 2025.
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Where does it stand?
- IntroducedJan 29, 2025
- Senate committee
- Senate voteYou are here · Mar 4, 2025
- House
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Placed on Senate Legislative Calendar under General Orders. Calendar No. 22.