S. 4699 · 116th Congress
PREPARE Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RubioSponsor6 cosponsors · 2 D, 3 R, 1 I
6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Providing Resources for Emergency Preparedness and Resilient Enterprises Act or the PREPARE Act
What it does: CRS summary · Introduced in Senate · Sep 24, 2020
Providing Resources for Emergency Preparedness and Resilient Enterprises Act or the PREPARE Act
This bill permanently reauthorizes the pre-disaster mitigation loan program of the Small Business Administration (SBA).
Under this program, the SBA may loan up to $500,000 in a 12-month period to small businesses so that such businesses may use mitigation techniques to protect their commercial real estate, equipment, inventory, supplies, and materials from damages related to disasters.
The SBA must submit a report on the program that includes information such as (1) the geographic areas in which loan recipients are located, (2) the number and dollar value of loans made, and (3) the estimated aggregate value resulting from the use of funded mitigation techniques.
The bill also authorizes the SBA to increase the amount of a disaster loan by up to 30% of the aggregate costs of any damage or destruction to enable a business to take mitigating measures that protect from possible future disasters.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: PREPARE Act
Also known as: Providing Resources for Emergency Preparedness And Resilient Enterprises Act
Latest action (Sep 24, 2020): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: Sep 24, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.