(a) Monthly accounting report to Congress
(1) Reporting requirements
Not later than the fifth business day of each month during the applicable period for a major disaster, the Administrator shall submit to the Committee on Small Business and Entrepreneurship and the Committee on Appropriations of the Senate and to the Committee on Small Business and the Committee on Appropriations of the House of Representatives a report on the operation of the disaster loan program authorized under section 636 of this title for that major disaster during the preceding month.
(2) ContentsEach report submitted under paragraph (1) shall include—
(A)
the daily average lending volume, in number of loans and dollars, and the percent by which each category has increased or decreased since the previous report under paragraph (1);
(B)
the weekly average lending volume, in number of loans and dollars, and the percent by which each category has increased or decreased since the previous report under paragraph (1);
(C)
the amount of funding spent over the month for loans, both in appropriations and program level, and the percent by which each category has increased or decreased since the previous report under paragraph (1);
(D)
the amount of funding available for loans, both in appropriations and program level, and the percent by which each category has increased or decreased since the previous report under paragraph (1), noting the source of any additional funding;
(E)
an estimate of how long the available funding for such loans will last, based on the spending rate;
(F)
the amount of funding spent over the month for staff, along with the number of staff, and the percent by which each category has increased or decreased since the previous report under paragraph (1);
(G)
the amount of funding spent over the month for administrative costs, and the percent by which such spending has increased or decreased since the previous report under paragraph (1);
(H)
the amount of funding available for salaries and expenses combined, and the percent by which such funding has increased or decreased since the previous report under paragraph (1), noting the source of any additional funding; and
(I)
an estimate of how long the available funding for salaries and expenses will last, based on the spending rate.
(b) Weekly disaster updates to Congress for presidentially declared disasters
(2) ContentsEach report submitted under paragraph (1) shall include—
(A)
the number of
Administration staff performing loan processing, field inspection, and other duties for the declared
disaster, and the allocations of such staff in the
disaster field offices,
disaster recovery centers, workshops, and other
Administration offices nationwide;
(B)
the daily number of applications received from applicants in the relevant area, as well as a breakdown of such figures by
State;
(C)
the daily number of applications pending application entry from applicants in the relevant area, as well as a breakdown of such figures by
State;
(D)
the daily number of applications withdrawn by applicants in the relevant area, as well as a breakdown of such figures by
State;
(E)
the daily number of applications summarily declined by the
Administration from applicants in the relevant area, as well as a breakdown of such figures by
State;
(F)
the daily number of applications declined by the
Administration from applicants in the relevant area, as well as a breakdown of such figures by
State;
(G)
the daily number of applications in process from applicants in the relevant area, as well as a breakdown of such figures by
State;
(H)
the daily number of applications approved by the
Administration from applicants in the relevant area, as well as a breakdown of such figures by
State;
(I)
the daily dollar amount of applications approved by the
Administration from applicants in the relevant area, as well as a breakdown of such figures by
State;
(J)
the daily amount of loans dispersed, both partially and fully, by the
Administration to applicants in the relevant area, as well as a breakdown of such figures by
State;
(K)
the daily dollar amount of loans disbursed, both partially and fully, from the relevant area, as well as a breakdown of such figures by
State;
(L)
the number of applications approved, including dollar amount approved, as well as applications partially and fully disbursed, including dollar amounts, since the last report under paragraph (1); and
(M)
the declaration date, physical damage closing date, economic injury closing date, and number of counties included in the declaration of a
major disaster.
(c) Periods when additional disaster assistance is made available
(1) In general
During any period for which the Administrator declares eligibility for additional disaster assistance under paragraph (9) of section 636(b) of this title, as amended by this Act, the Administrator shall, on a monthly basis, submit to the Committee on Small Business and Entrepreneurship of the Senate and to the Committee on Small Business of the House of Representatives a report on the disaster assistance operations of the Administration with respect to the applicable major disaster.
(2) ContentsEach report submitted under paragraph (1) shall specify—
(A)
the number of applications for
disaster assistance distributed;
(B)
the number of applications for
disaster assistance received;
(D)
the amount of
disaster loans approved;
(E)
the average time for initial disbursement of
disaster loan proceeds; and
(F)
the amount of
disaster loan proceeds disbursed.
(d) Notice of the need for supplemental funds
On the same date that the Administrator notifies any committee of the Senate or the House of Representatives that supplemental funding is necessary for the disaster loan program of the Administration in any fiscal year, the Administrator shall notify in writing the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives regarding the need for supplemental funds for that loan program.
(e) Report on contracting
(1) In general
Not later than 6 months after the date on which the President declares a major disaster, and every 6 months thereafter until the date that is 18 months after the date on which the major disaster was declared, the Administrator shall submit a report to the Committee on Small Business and Entrepreneurship of the Senate and to the Committee on Small Business of the House of Representatives regarding Federal contracts awarded as a result of that major disaster.
(2) ContentsEach report submitted under paragraph (1) shall include—
(A)
the total number of contracts awarded as a result of that
major disaster;
(C)
the total number of contracts awarded to women and minority-owned businesses as a result of that
major disaster; and
(D)
the total number of contracts awarded to local businesses as a result of that
major disaster.
(f) Report on loan approval rate
(1) In general
Not later than 6 months after the date of enactment of this Act, the Administrator shall submit a report to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives detailing how the Administration can improve the processing of applications under the disaster loan program of the Administration.
(2) ContentsThe report submitted under paragraph (1) shall include—
(A) recommendations, if any, regarding—
(ii)
how to improve the process for processing, approving, and disbursing loans under the
disaster loan program of the Administration, to ensure that the maximum assistance is provided to victims in a timely manner;
(iii)
the viability of using alternative methods for assessing the ability of an applicant to repay a loan, including the credit score of the applicant on the day before the date on which the
disaster for which the applicant is seeking assistance was declared;
(iv)
methods, if any, for the
Administration to expedite loss verification and loan processing of
disaster loans during a
major disaster for businesses affected by, and located in the area for which the President declared, the
major disaster that are a major source of employment in the area or are vital to recovery efforts in the region (including providing debris removal services, manufactured housing, or building materials);
(v)
legislative changes, if any, needed to implement findings from the Accelerated
Disaster Response Initiative of the
Administration; and
(B)
the plans of the
Administrator for implementing any recommendation made under subparagraph (A).
(
Pub. L. 110–234, title XII, § 12091,
May 22, 2008,
122 Stat. 1423;
Pub. L. 110–246, § 4(a), title XII, § 12091,
June 18, 2008,
122 Stat. 1664, 2185.)
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