Disaster Loan Efficiency Act
Latest action. Referred to House Committee on Small Business.
Disaster Loan Efficiency Act - Amends the Small Business Act to authorize the Small Business Administration (SBA) to make deferred (guaranteed) disaster loans in cooperation with eligible lenders to: (1) small businesses to repair property damaged by a disaster if such damage is not compensated by insurance or otherwise and the eligible lender certifies to the SBA that it will be able to repay the loan in case of default by the borrower; and (2) small businesses or agricultural cooperatives located in a disaster area if such lender determines that such business or cooperative suffered a substantial economic injury as a result of such disaster and the eligible lender certifies to the SBA that it will be able to repay the loan in case of default by the borrower. Sets limits on the interest rates to be charged on such loans. Makes provision for the Government to pay the excess of an interest rate over four percent and to share the payment with the borrower if such interest rate exceeds ten percent. Requires the Administrator of the SBA to reimburse any lender for administrative expenses associated with such disaster loans. Allows the Administrator to sell to the public the assets of any disaster loan made before enactment of this Act. Requires the Administrator to report to specified congressional committees.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on August 1, 1986. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on August 1, 1986: Referred to House Committee on Small Business.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 99th Congress (1985-86), 666 of the 9,885 bills and joint resolutions introduced became law, about 6.7 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
JAMES OLIN (D-VA) introduced it on August 1, 1986, and 18 members have since signed on as cosponsors.
They come from both major parties: 14 Democrats, 4 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on August 1, 1986, 14650 days ago. The most recent recorded action was 14650 days ago, on August 1, 1986.
Measures do not carry over. Anything the 99th Congress has not finished by January 3, 1987 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers