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B-333569 Sep 27, 2021 1 (2021-09-27)

handle is hein.gao/gaomgl0001 and id is 1 raw text is: O1O o U.S. GOVERNMENT ACCOUNTABILITY OFFICE A Century of Non-Partisan Fact-Based Work 441 G St. N.W. Washington, DC 20548 B-333569 September 27, 2021 The Honorable Ben Cardin Chairman The Honorable Rand Paul Ranking Member Committee on Small Business and Entrepreneurship United States Senate The Honorable Nydia M. Velazquez Chairwoman The Honorable Blaine Luetkemeyer Ranking Member Committee on Small Business House of Representatives Subject: Small Business Administration: Disaster Loan Program Changes Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Small Business Administration (SBA) entitled Disaster Loan Program Changes (RIN: 3245-AH80). We received the rule on September 10, 2021. It was published in the Federal Register as an interim final rule on September 8, 2021. 86 Fed. Reg. 50214. The effective date is September 8, 2021. SBA stated that the interim final rule implements changes to the Disaster Loan Program regulations. Specifically, SBA stated that for applications for COVID-19 Economic Injury Disaster (COVID EIDL) loans, the rule is changing the definition of affiliation, the eligible uses of loan proceeds, and application of the size standard to certain hard-hit eligible entities, and is establishing a maximum loan limit for borrowers in a single corporate group. In addition, according to SBA, for all disaster assistance programs, SBA is changing which SBA official may make the decision on the appeal of an application that has been declined for a second time. The Congressional Review Act (CRA) requires a 60-day delay in the effective date of a major rule from the date of publication in the Federal Register or receipt of the rule by Congress, whichever is later. 5 U.S.C. § 801(a)(3)(A). The 60-day delay in effective date can be waived, however, if the agency finds for good cause that delay is impracticable, unnecessary, or contrary to the public interest, and the agency incorporates a statement of the findings and its reasons in the rule issued. 5 U.S.C. § 808(2). SBA stated that, for good cause, it determined a 60-day delay is impractical and not in the public interest. According to SBA, an immediate effective date will give small businesses, nonprofit organizations, qualified agricultural businesses, and independent contractors affected by the interim final rule the maximum amount of time to apply for loans and SBA the maximum amount of time to process applications before the program ends on December 31, 2021.

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