United States 118th Congress Status: In Committee 1 R cosponsors

S 943 — Small Business Disaster Damage Fairness Act of 2023

Last action — Placed on Senate Legislative Calendar under General Orders. Calendar No. 165.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

32 added · 3 removed

Plain-language change summary

The amendment to Bill S 943 changes the collateral requirements for disaster loans by increasing the required collateral amount from $14,000 to $25,000 and broadening the loan applicability from "major disaster" to simply "disaster." This adjustment aims to adapt the loan program to a wider range of disaster situations and increases the financial threshold necessary for securing a loan, which could impact the types of disasters covered and the amount of funding available for borrowers. Additionally, the amendment requires a report on loan performance and default rates to be submitted within three years after the bill's enactment.

→
Previous
Latest
943 Introduced in Senate (IS)] <DOC> 118th CONGRESS 1st Session S.
943 Reported in Senate (RS)] <DOC> Calendar No.
165 118th CONGRESS 1st Session S.
which was read twice and referred to the Committee on Small Business and Entrepreneurship _______________________________________________________________________ A BILL To increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes.
which was read twice and referred to the Committee on Small Business and Entrepreneurship July 25, 2023 Reported by Mr.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1.
Cardin, with an amendment [Strike out all after the enacting clause and insert the part printed in italic] _______________________________________________________________________ A BILL To increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, <DELETED>SECTION 1.
SHORT TITLE.</DELETED> <DELETED> This Act may be cited as the ``Small Business Disaster Damage Fairness Act of 2023''.</DELETED> <DELETED>SEC.
2.
COLLATERAL REQUIREMENTS FOR DISASTER LOANS.</DELETED> <DELETED> Section 7(d)(6) of the Small Business Act (15 U.S.C.
636(d)(6)) is amended in the third proviso--</DELETED> <DELETED> (1) by striking ``$14,000'' and inserting ``$25,000'';
and</DELETED> <DELETED> (2) by striking ``major disaster'' and inserting ``disaster''.</DELETED> SECTION 1.
636(d)(6)) is amended in the third proviso-- (1) by striking ``$14,000'' and inserting ``$25,000'';
636(d)(6)) is amended, in the third proviso-- (1) by striking ``$14,000'' and inserting ``$25,000'';
<all>
SEC.
3.
GAO REPORT ON DEFAULT RATES.
Not later than 3 years after the date of enactment of this Act, the Comptroller General of the United States shall submit to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives a report on the performance, including the default rate, of loans made under section 7(b)(1) of the Small Business Act (15 U.S.C.
636(b)(1)), and the impact of the amendments to collateral amounts made under section 2 of this Act on the performance of those loans, during the period-- (1) beginning on September 30, 2020;
and (2) ending on the date on that is 2 years after the date of enactment of this Act.
Calendar No.
165 118th CONGRESS 1st Session S.
943 _______________________________________________________________________ A BILL To increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes.
_______________________________________________________________________ July 25, 2023 Reported with an amendment
⬇ Download PDF
View plain text versions (2)

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Small Business and Entrepreneurship.

  3. Committee on Small Business and Entrepreneurship. Ordered to be reported with an amendment in the nature of a substitute favorably.

  4. Committee on Small Business and Entrepreneurship. Reported by Senator Cardin with an amendment in the nature of a substitute. Without written report.

  5. Committee on Small Business and Entrepreneurship. Reported by Senator Cardin with an amendment in the nature of a substitute. Without written report.

  6. Placed on Senate Legislative Calendar under General Orders. Calendar No. 165.

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

Show all 546 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

public-safety finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors S 943?
S 943 is sponsored by Kennedy, John (Republican).
What is the current status of S 943?
This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 943?
Track S 943 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on S 943

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of S 943

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →