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Committee approves bipartisan substitute to S.300 to increase SBA disaster-accounting transparency
Summary
The committee agreed to a bipartisan amendment in the nature of a substitute to S.300, the Disaster Loan Account Accountability and Reform Act, to add reporting and flexibility to prevent future disaster‑loan shortfalls. The substitute was agreed by voice vote and further proceedings were postponed.
The committee considered S.300, the Disaster Loan Account Accountability and Reform Act, a bill described from the dais as intended to prevent future shortfalls in the SBA disaster loan account.
The chair explained the bill “aims to prevent an SBA disaster shortfall from occurring ever again by heightening accountability, transparency, and reporting…
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