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S. Rept. 114-293 1 (2016-07-06)

handle is hein.congrecreports/crptxsiu0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP Calendar No. 113 114TH CONGRESS REPORT 2d Session SENATE 114-293 RECOVERY IMPROVEMENTS FOR SMALL ENTITIES AFTER DISASTER ACT OF 2015 JULY 6, 2016.-Ordered to be printed Mr. VITTER, from the Committee on Small Business and Entrepreneurship, submitted the following REPORT [To accompany S. 1470] The Committee on Small Business and Entrepreneurship, to which was referred the bill (S. 1470) to amend the Small Business Act to provide additional assistance to small business concerns for disaster recovery, and for other purposes, having considered the same, reports favorably thereon with an amendment in the nature of a substitute and recommends that the bill, as amended, do pass. I. INTRODUCTION The Recovery Improvements for Small Entities (RISE) After Dis- aster Act of 2015 (S. 1470) was introduced by Chairman Vitter, on May 31, 2015. The bill incorporates language from Senator Heitkamp's Small Business Disaster Reform Act of 2015 (S. 956), providing clarification of collateral requirements for disaster loans. The purpose of the RISE Act is to provide additional assistance to small business concerns for disaster recovery. In order to achieve this, the RISE Act seeks to provide long-term recovery loans to small businesses through community banks after their opportuni- ties to receive SBA disaster assistance are no longer available. The bill will also direct Federal agencies to utilize local contractors in recovery efforts for disaster affected areas as well as authorize counseling and technical assistance to help small businesses in their recovery efforts and resume operations as quickly as possible. During the markup of the bill, the bill was approved unani- mously by voice vote. 59-010

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