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S. 3554Senate115th Congress (2017-2019)Enacted

A bill to extend the effective date for the sunset for collateral requirements for Small Business Administration disaster loans.

Sponsored by John KennedySen. John Kennedy (R-LA)
Introduced October 5, 2018

AI-Generated Summary

Updated April 16, 2026 at 12:15 AM UTC

This bill amends the RISE After Disaster Act of 2015 to lengthen the time before the collateral requirement for Small Business Administration disaster loans ends. The deadline is moved from three years to four years, giving borrowers an extra year before the collateral rule no longer applies. It affects businesses that receive SBA disaster loans and the SBA’s loan administration.

Key Provisions

  • Changes the SBA disaster‑loan collateral rule so that the requirement expires after four years instead of three.

Legislative Activity

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17 earlier actions
SenateCommittee Latest Action

By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-453.

Small Business and Entrepreneurship Committee

December 20, 2018

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SenateIntro Referral

Introduced in Senate

October 5, 2018

SenateIntro Referral

Read twice and referred to the Committee on Small Business and Entrepreneurship.

Small Business and Entrepreneurship Committee

October 5, 2018

SenateCommittee

Committee on Small Business and Entrepreneurship. Ordered to be reported without amendment favorably.

Small Business and Entrepreneurship Committee

October 11, 2018

SenateCommittee

Committee on Small Business and Entrepreneurship. Reported by Senator Risch without amendment. Without written report.

Small Business and Entrepreneurship Committee

October 11, 2018

SenateCalendars

Placed on Senate Legislative Calendar under General Orders. Calendar No. 631.

October 11, 2018

SenateFloor

Passed Senate without amendment by Unanimous Consent. (consideration: CR S7064; text: CR S7064)

November 15, 2018

HouseFloor

Received in the House.

November 16, 2018 • 10:07 AM

SenateFloor

Message on Senate action sent to the House.

November 16, 2018

HouseFloor

Held at the desk.

November 16, 2018 • 10:40 AM

HouseFloor

Considered by unanimous consent. (consideration: CR H9551)

November 16, 2018 • 11:12 AM

HouseFloor

Mr. Chabot asked unanimous consent to take from the Speaker's table and consider.

November 16, 2018 • 11:12 AM

SenateFloor

Passed/agreed to in House: On passage Passed without objection.(text: CR H9551)

November 16, 2018 • 11:13 AM

HouseFloor

On passage Passed without objection. (text: CR H9551)

November 16, 2018 • 11:13 AM

HouseFloor

Motion to reconsider laid on the table Agreed to without objection.

November 16, 2018 • 11:13 AM

President

Presented to President.

November 27, 2018

Became Law

Signed by President.

November 29, 2018

Became Law

Became Public Law No: 115-280.

November 29, 2018

SenateCommittee

By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-453.

Small Business and Entrepreneurship Committee

December 20, 2018

Floor Debate

2 members

What members said about S. 3554 on the floor

2 Republicans
Mitch McConnell
Sen. Mitch McConnellR-KY · Nov 15, 2018

Mr. President, I ask unanimous consent that the Senate proceed to the immediate consideration of Calendar No. 631, S. 3554. Mr. President, I ask unanimous consent that the bill be considered read a…

Record
Steve Chabot
Rep. Steve ChabotR-OH-1 · Nov 16, 2018

Mr. Speaker, I ask unanimous consent to take from the Speaker's table the bill (S. 3554) to extend the effective date for the sunset for collateral requirements for Small Business Administration…

Record

Bill Text

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Enrolled BillPublication date not provided

One Hundred Fifteenth Congress of the United States of America

2d Session

Begun and held at the City of Washington on Wednesday, the third day of January, two thousand and eighteen

S. 3554

AN ACT

To extend the effective date for the sunset for collateral requirements for Small Business Administration disaster loans.

1.

Extension of sunset for collateral requirements for SBA disaster loans

Section 2102(b) of the RISE After Disaster Act of 2015 (15 U.S.C. 636 note) is amended, in the matter preceding paragraph (1), by striking 3 years and inserting 4 years.

Speaker of the House of Representatives

Vice President of the United States and President of the Senate