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US HB4238
Bill
Status
6/27/2025
Primary Sponsor
Tim Moore
Click for details
AI Summary
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SBA Administrator must notify Congress within 24 hours when disaster loan funding drops below 10% of the 10-year average annual cost, and may then limit new loan obligations to collateral-required amounts until additional funds are appropriated
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Monthly disaster loan reports to Congress must include projected dates when funding will reach 10% and be depleted, plus summaries of any changes to cost estimates; Administrator's official travel funding is prohibited if reports are late
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Presidential budget requests must separately disclose SBA disaster loan costs and COVID-EIDL loan costs, along with their 10-year averages and explanations for any differences
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GAO must report within 180 days on disaster loan obligation rates and disbursement patterns, and within 1 year on the cost impact of 2023-2024 rule changes that raised loan limits and modified collateral requirements
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SBA Inspector General must review the October 2024 funding shortfall within 180 days, examining failed notifications to Congress, accuracy of projections, internal controls, and impact of the Office of Capital Access reorganization
Legislative Description
DLARA Disaster Loan Accountability and Reform Act
Commerce
Last Action
Referred to the Committee on Small Business, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
6/27/2025