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Disaster Aid Simplified: No Penalty for Declining SBA Loans

This act aims to simplify disaster relief by ensuring that declining a Small Business Administration (SBA) loan does not negatively impact eligibility for other aid from the Department of Housing and Urban Development (HUD). This gives citizens more flexibility in choosing the most suitable form of support after a disaster.
Key points
Government agencies cannot penalize applicants for declining an SBA loan when seeking other disaster assistance.
The amount of HUD assistance will not be reduced if SBA support was previously declined.
These rules apply to applications made before, on, or after the act's enactment, ensuring broad coverage.
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Expired
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Additional Information
Print number: 117_S_1363
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2021-04-26
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Disaster Assistance Simplification Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1363.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-04-26.

What are the main provisions?

Key points include:

  • Government agencies cannot penalize applicants for declining an SBA loan when seeking other disaster assistance.
  • The amount of HUD assistance will not be reduced if SBA support was previously declined.
  • These rules apply to applications made before, on, or after the act's enactment, ensuring broad coverage.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Rubio, Marco [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Benefits Real Estate