Small Business Disaster Recovery Assistance Improvements Act of 2006
Latest action · Jul 14, 2006 Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S7557-7560)
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 14, 2006
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Small Business Disaster Recovery Assistance Improvements Act of 2006 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to make both emergency bridge loans and business recovery grants to a qualified small business concern after major disasters, and to provide assistance until the concern is able to obtain funding through insurance claims, other federal assistance programs, or other sources.
Authorizes the Administrator to: (1) guarantee loans made under an approved State Bridge Loan Program; and (2) make loans under expedited procedures that include loss verification and loan processing.
Sets forth maximum disaster loan amounts.
Doubles the minimum size of loans for which collateral must be required.
Directs the Administrator to hire a full-time disaster planning specialist in the Office of Disaster Assistance.
Provides for economic injury disaster loans to private non-profit organizations.
Authorizes the Administrator, in the event of a major disaster, to waive the maximum $100,000 amount for small business development center portability grants. Makes such grants available for small business development centers assisting small business concerns adversely affected by the disaster.
Directs the Administrator to authorize a small business development center, regardless of location, to provide advice, information, and assistance to a small business concern located in a major disaster area.
Cosponsors 3
Members who signed on, in the order they did. All signed on Jul 14, 2006.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-IN | Evan Bayh | Original | Jul 14, 2006 |
| D-MA | John F. Kerry | Original | Jul 14, 2006 |
| D-AR | Mark L. Pryor | Original | Jul 14, 2006 |
Actions 3
Everything that happened, newest first.
- Jul 14, 2006Introduced in Senate
- Jul 14, 2006Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S7557-7560)
- Jul 14, 2006Sponsor introductory remarks on measure. (CR S7556-7557)
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
- Accounting
- Commerce
- Congress
- Congressional investigations
- Congressional reporting requirements
- Disaster loans
- Economics and Public Finance
- Emergency Management
- Executive reorganization
- Federal officials
- Federally-guaranteed loans
- Finance and Financial Sector
- Government lending
- Government Operations and Politics
- Grants-in-aid
- Hurricane aftermath legislation
- Loan defaults
- Nonprofit organizations
- Planning
- Small business
- Small Business Administration
- Social Welfare
Text 1
Each version as it was printed, newest first.
- Jul 14, 2006Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.