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Standard Summary
Comprehensive overview in 1-2 paragraphs
The Disaster Loan Accountability and Reform Act (DLARA) imposes new reporting, budgeting, and oversight requirements on the SBA’s disaster loan program, limits loan forgiveness and loan amounts, mandates GAO and Inspector General reviews, and establishes a grant program for disaster loan accountability.
Key Points
- 1Monthly disaster loan reports with detailed funding depletion dates and summary of changes.
- 2Expanded budget request statements for disaster and COVID‑EIDL loans, including 10‑year averages.
- 3Limitations on loan forgiveness and loan amounts, with notification requirements when funding is low.
- 4GAO reports on loan changes and cost impacts, and IG reviews of funding shortfalls.
- 5Mandatory reporting to Congress on forecasting, budgeting, and corrective actions.
- 6Grant program to improve disaster loan accountability.
Impact Areas
Small Business Administration and its staffDisaster loan borrowers (businesses, homeowners, economic‑injury borrowers)Congressional committees (Small Business, Appropriations, GAO, IG)Taxpayers and the public receiving disaster assistance
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