The Disaster Loan Accountability and Reform Act (DLARA) makes several changes to how the Small Business Administration (SBA) runs its disaster loan program. It requires more detailed and regular reporting about disaster loans, including a monthly report with changes to estimates and a travel restriction if the SBA Administrator misses a required report. The bill requires the President's budget to include separate statements showing requested appropriations and 10-year averages for SBA disaster loan costs and COVID-EIDL loan costs, and similar statements for related administrative costs. It limits the Administrator’s authority to forgive or compromise loans unless Congress authorizes forgiveness and requires referral to the Treasury if discharge is restricted. When unobligated disaster loan funds fall below 10% of the most recent appropriation, the SBA must notify congressional appropriations and small business committees and may limit new loan obligations to amounts that require collateral. The bill bars the SBA from issuing any rule that would increase the cost of the disaster loan program. It requires a GAO report on two recent final rules and an SBA Inspector General review of a specified funding shortfall. Finally, the bill directs the SBA to submit and update plans to improve budgeting, forecasting, and data quality for direct disaster loans.
The bill requires additional reporting and budget statements about disaster loan costs and administrative costs, but it does not provide specific funding amounts or authorize new appropriations in the text. No publicly available information on estimated costs or changes in appropriations is included in the bill text.
No publicly available information.
No publicly available information.