H.R. 277

ASCEND Act of 2019

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IIB

116th CONGRESS

1st Session

H. R. 277

IN THE SENATE OF THE UNITED STATES

July 16, 2019

Received; read twice and referred to the Committee on Small Business and Entrepreneurship

AN ACT

To adjust collateral requirements under the Small Business Act for disaster loans, and for other purposes.

1.

Short title

This Act may be cited as the Access to Sufficient Capital for Everyone in Natural Disaster areas Act of 2019 or the ASCEND Act of 2019.

2.

Collateral requirements for disaster loans under the Small Business Act

(a)

Amendment to the RISE After Disaster Act of 2015

Section 2102 of the RISE After Disaster Act of 2015 (Public Law 114–88) is amended—

(1)

by striking subsections (b) and (c); and

(2)

by striking (a) In general.—.

(b)

Effective date

The amendment made by subsection (a) shall take effect as though enacted as part of the RISE After Disaster Act of 2015.

Passed the House of Representatives July 15, 2019.

Cheryl L. Johnson,

Clerk