To increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Transportation, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H7A0D9A2F8CFB4836BDFB868FEE981E6D: 1. Short title This Act may be cited as the Small Business Disaster Damage Fairness Act of 2024.
- Section HF6697560C31048518420C3E2DB55B71F: 2. Collateral requirements for disaster loans Section 7(d)(6) of the Small Business Act (15 U.S.C. 636(d)(6)) is amended, in the third proviso— by striking...
- Section H542A0CFA92BC4F1EBE844E6AC8B1DBBF: 3. GAO report on default rates Not later than 3 years after the date of the enactment of this Act, the Comptroller General of the United States shall submit to...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Transportation, Government Operations
Primary Purpose
This bill, To increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Joe Neguse
D-CO | Primary Sponsor
Legislative Progress
IntroducedMr. Neguse (for himself and Mr. Obernolte) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology