Bills · S 300
REPORTED· 119TH CONGRESS
Senate BillS 300Disaster relief and insuranceGovernment studies and investigations
DLARA
INTRO JAN 29· LAST ACTION MAR 4
READING
23MIN
COSPONSORS
9
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Reported, not passed
LEGISLATIVE PROGRESS
STEP 3 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it seeks to improve how taxpayer money is managed and accounted for in disaster situations. If passed into law, it would provide Congress with a much clearer and more frequent understanding of the financial status of the SBA's disaster loan programs. This improved transparency could lead to better preparation for future disasters and more responsible use of federal funds.
Crucially, it changes who has the final say on forgiving disaster loans or stopping collection efforts. Instead of the SBA making those decisions alone, Congress would need to give its direct approval. This means that if this bill becomes law, there will be greater scrutiny on how disaster debts are handled, ensuring that these significant financial decisions have legislative backing. If it doesn't become law, the SBA would continue to have more discretion in these areas, and public oversight of disaster loan finances might remain less detailed.
KEY PROVISIONS
4AI-extractedPROVISION 01
Requires the SBA to provide detailed monthly reports to Congress on disaster loan funding levels and projections for when funds will be depleted.
This provision increases transparency and allows Congress to better monitor the financial health and sustainability of disaster loan programs.
PROVISION 02
Prohibits the SBA Administrator from forgiving disaster loans or unilaterally stopping debt collection without specific authorization from Congress.
This shifts significant authority over debt management and forgiveness from the SBA to Congress, ensuring legislative oversight on these financial decisions.
PROVISION 03
Mandates that the President's annual budget request include separate, detailed statements on the cost and administrative expenses of SBA disaster loans and COVID-EIDL loans, comparing them to 10-year averages.
This provides more granular and historical financial data to inform budget decisions and highlight trends in disaster loan program costs.
PROVISION 04
Imposes a penalty on the SBA Administrator, prohibiting official travel, if required monthly disaster loan reports are not submitted to Congress on time.
This creates a direct consequence for non-compliance, aiming to ensure timely and consistent reporting.
SPONSORSHIP
1 + 9
R· North Carolina
YRS IN OFFICE
9
BILLS LED
61
COSPONSOR BREAKDOWNBIPARTISAN · 22%
DEM 1 REP 8 IND 0
ACTION TIMELINE
5 EVENTSMAR 4
Committee on Small Business and Entrepreneurship. Reported by Senator Ernst with an amendment in the nature of a substitute. Without written report.
MAR 4
Placed on Senate Legislative Calendar under General Orders. Calendar No. 22.
FEB 20
Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.
JAN 29
Introduced in Senate
BILL INFO
TypeSenate Bill
NumberS 300
Congress119th
StatusReported
IntroducedJan 29, 2025
Last actionMar 4, 2025
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REPORTED· 119TH CONGRESS · SMALL BUSINESS AND ENTREPRENEURSHIP COMMITTEE · INTRODUCED JAN 29, 2025
Senate BillS 300Disaster relief and insuranceGovernment studies and investigations
DLARA
INTRODUCED JAN 29, 2025· LAST ACTION MAR 4, 2025
PASSAGE CHANCES
—%
READING
23 min
COSPONSORS
9
COMPLEXITY
Moderate
