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PREPARE Act

Introduced: July 9, 2020 Introduced by: Morelle, Joseph D. Democratic · New York See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 9, 2020

Referred to the House Committee on Small Business.

Jul 9, 2020

Introduced in House

Plain-English summary Congressional Research Service

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.

What's happening now July 9, 2020

Referred to the House Committee on Small Business.

Committees of jurisdiction 1