H.R. 565 · 110th Congress
Small Business Disaster Loan Improvement Act of 2007
- Stage
- In committee
- Sponsor
- William Jefferson
- Introduced
- 2007-01-18
- Latest action
- 2007-01-18 · Introduced in House
Summary
Small Business Disaster Loan Improvement Act of 2007 - Amends the Small Business Act to prohibit the Administrator of the Small Business Administration (SBA), in determining whether a person is eligible for a loan under the SBA's disaster loan program with respect to a catastrophic incident, or in determining the amount of such loan, to consider the extent to which: (1) the loss or injury of the person is compensated for by insurance or otherwise; or (2) the person paid insurance proceeds to a recorded lienholder.
Deems the 2005 Hurricanes Katrina, Wilma, and Rita as catastrophic incidents for purposes of this Act.