Page:United States Statutes at Large Volume 122.djvu/1434

 12 2 STA T . 1 4 11 PUBLIC LA W 11 0– 2 3 4 —M A Y 22, 200 8(i)bystr i k i ng‘ ‘ 7 ( c )( 2 ) ’ ’ a n d ins e rting ‘‘7(d)(2)’’ and (ii) by striking ‘‘7(e) , ’’; and (2) in secti o n7(b),int h e u ndesignated m atter f o l lo w ing p aragraph ( 3 ) — ( A ) by striking ‘‘ T hat the pro v isions of paragraph ( 1 ) of subsection (c)’’ and inserting ‘‘That the provisions of paragraph (1) of subsection (d)’’; and ( B ) by striking ‘‘ N otwithstanding the provisions of any other law the interest rate on the Administration’s share of any loan made under subsection (b) e x cept as provided in subsection (c),’’ and inserting ‘‘Notwithstanding any other provision of law, and except as provided in subsection (d), the interest rate on the Administration’s share of any loan made under subsection (b)’’ .SEC.12069 . DI S A S T E RP R O CESSI NG RED U NDANC Y . The S mall Business Act (1 5U .S. C . 6 31etse q .) is amended by inserting after section 3 8, as added by this Act, the following

‘SEC. 3 9. DISASTER PROCESSING REDUNDANCY. ‘‘(a) INGE NE RAL .—The Administrator shall ensure that the Administration has in place a facility for disaster loan processing that, whenever the Administration’s primary facility for disaster loan processing becomes unavailable, is able to take over all disaster loan processing from that primary facility within 2 days. ‘‘(b) A UTHO R IZ ATION O F A P PROPRIATION S .—There are authori z ed to be appropriated such sums as may be necessary to carry out this section.’’. SEC. 120 7 0. NET EARNINGS C L AUSES PRO H I B ITED. Section 7 of the Small Business Act (15 U.S.C. 636) is amended by inserting after subsection (f), as added by this Act, the following: ‘‘(g) NET E ARNIN G S CLAUSES P ROHI B ITE D FOR 7(b) L OANS.— In making loans under subsection (b), the Administrator shall not require the borrower to pay any non - amortized amount for the first five years after repayment begins.’’. SEC. 12071. ECONO M IC IN J URY DISASTER LOANS IN CASES O F ICE STORMS AND BLI Z ZARDS. Section 3(k)(2) of the Small Business Act (15 U.S.C. 632(k)(2)) is amended— (1) in subparagraph (A) by striking ‘‘and’’; (2) in subparagraph (B) by striking the period at the end and inserting ‘‘; and’’; and (3) by adding at the end the following: ‘‘(C) ice storms and blizzards.’’. SEC. 12072. DE V ELOPMENT AND IMPLEMENTATION OF MAJOR DIS - ASTER RESPONSE PLAN. (a) IN GENERAL.—Not later than 3 months after the date of enactment of this Act, the Administrator shall— (1) by rule, amend the 2 0 06 Atlantic hurricane season disaster response plan of the Administration (in this section referred to as the ‘‘disaster response plan’’) to apply to ma j or disasters; and (2) submit a report to the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Reports. Re gula t i o n s. D ea d line. 15USC63 6g. 15 USC 65 7k . 15 USC 636.

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