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RELIEF Act: $810 Million Emergency Funding for Small Business Disaster Loans.

This Act immediately appropriates $810 million to the Disaster Loans Program Account, providing crucial financial support for small businesses recovering from disasters. These funds are designated as an emergency requirement to ensure rapid deployment of aid. Furthermore, the law mandates a comprehensive review by the Inspector General to analyze the causes of previous funding shortfalls and improve future budget forecasting for the program.
Key points
Immediate Funding Boost: Appropriates $810 million for direct disaster loans to small businesses (Section 7(b) of the Small Business Act).
Oversight and Administration: Includes $10 million for audits and reviews by the Office of Inspector General and up to $250 million for administrative expenses.
Accountability Review: Requires the Inspector General to review the circumstances leading to the recent funding shortfall and mandates the Small Business Administration (SBA) to report on corrective actions to improve forecasting and data quality.
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Additional Information
Print number: 118_S_5332
Sponsor: Sen. Tillis, Thomas [R-NC]
Process start date: 2024-11-14
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

RELIEF Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5332.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-11-14.

What are the main provisions?

Key points include:

  • Immediate Funding Boost: Appropriates $810 million for direct disaster loans to small businesses (Section 7(b) of the Small Business Act).
  • Oversight and Administration: Includes $10 million for audits and reviews by the Office of Inspector General and up to $250 million for administrative expenses.
  • Accountability Review: Requires the Inspector General to review the circumstances leading to the recent funding shortfall and mandates the Small Business Administration (SBA) to report on corrective actions to improve forecasting and data quality.
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. Tillis, Thomas [R-NC].

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 2025-12-26.

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