HR 7071
To amend section 7(b) of the Small Business Act to make disaster loans available for damages caused by prolonged power outages, and for other purposes.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill amends the Small Business Act to allow small businesses to apply for disaster loans specifically to cover damages resulting from prolonged power outages. It expands the definition of a ‘disaster’ to include these outages and allows loan funds to be used for investments in energy resilience systems, such as generators and solar panels, as well as for replacing lost food and drink. The bill sets specific criteria for determining when a power outage qualifies as ‘prolonged’ based on the number of affected homes or businesses and the extent of uninsured losses.
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