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Committee reports S.371, SBA Disaster Transparency Act, favorably
Summary
The committee voted to report S.371, the SBA Disaster Transparency Act, favorably. Members described the bill as complementary to S.300 and said it will require SBA to publish disaster‑loan reporting on its website to improve public transparency.
The committee moved to consider S.371, the SBA Disaster Transparency Act, described in the record as a complement to S.300 that would require the Small Business Administration to publish reporting on its disaster‑loan program on the SBA website.
Senator Scott (bill sponsor) and Senator Schiff, among others, were cited as authors and cosponsors in the record; Senator Schiff thanked colleagues and noted that timely publication of reports and notifications helps Congress and disaster survivors.
The chair moved to favorably report S.371. Ranking Member Markey said he supported the bill and urged unanimous adoption. The committee agreed by voice vote; the chair ruled that S.371 was reported favorably with a quorum present.
Committee discussion framed S.371 as a transparency measure intended to help Congress identify funding needs earlier and avoid past shortfalls in disaster lending.
