Page:United States Statutes at Large Volume 122.djvu/1438

 12 2 STA T . 1 4 1 5PUBLIC LA W 11 0– 2 3 4 —M A Y 22, 200 8shal l upd a te the pla no n an annual b as i s and f ollo w in g an ym a j o r disaster relating to whi c h the A dministrator declares eligibility for additional disaster assistance under section 7( b ) ( 9 ) .‘ ‘(c) KNOWLEDG E R E QUIR ED. —T he Administrator shall carry out subsections (a) and (b) through an indi v idual with substantial k nowledge in the field of disaster readiness and emergency response. ‘‘(d) RE P OR T .—The Administrator shall include a report on the plan whenever the Administration submits the report re q uired by section 43 . ’ ’. SEC.12076 . PLAN S TO SEC UR ESU F F I CIENT OFFICE SPACE. The S mall B usiness Act is amended by inserting after section 4 0, as added by this Act, the following

‘SEC. 4 1. PLANS TO SECURE SUFFICIENT OFFICE SPACE. ‘‘(a) P L A N S REQUIRED.—The Administrator shall develop long - term plans to secure sufficient office space to accommodate an e x panded workforce in times of disaster. ‘‘(b) REPORT.—The Administrator shall include a report on the plans developed under subsection (a) each time the Administration submits a report required under section 43.’’. SEC. 12077. APPLICANTS T H AT HA V E B ECO M EAMA J OR SOURCE OF EMPLO Y MENT D UE TO CHAN G ED ECONOMIC CIR - CUMSTANCES. Section 7(b)(3)( E ) of the Small Business Act ( 15U .S. C . 6 36(b)(3)(E)) is amended by inserting after ‘‘constitutes’’ the fol- lowing: ‘‘, or have become due to changed economic circumstances,’’. SEC. 1207 8 . DISASTER LOAN AMOUNTS. (a) I N C REASED L OAN CAPS.—Section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is amended by inserting immediately after paragraph (7), as added by this Act, the following: ‘‘( 8 ) INCREASED LOAN CAPS.— ‘‘(A) AGGREGATE LOAN A M OUNTS.—Except as provided in subparagraph (B), and notwithstanding any other provi- sion of law, the aggregate loan amount outstanding and committed to a borrower under this subsection may not exceed $2 ,000,000. ‘‘(B) W AI V ER AUT H ORIT Y .—The Administrator may, at the discretion of the Administrator, increase the aggregate loan amount under subparagraph (A) for loans relating to a disaster to a level established by the Administrator, based on appropriate economic indicators for the region in which that disaster occurred.’’. (b) D ISASTER M ITIGATION.— (1) IN GENERAL.—Section 7(b)(1)(A) of the Small Business Act (15 U.S.C. 636(b)(1)(A)) is amended by inserting ‘‘of the aggregate costs of such damage or destruction (whether or not compensated for by insurance or otherwise)’’ after ‘‘20 per centum’’. (2) E F FECTIVE DATE.—The amendment made by paragraph (1) shall apply with respect to a loan or guarantee made after the date of enactment of this Act. (c) TECHNICAL AMENDMENTS.—Section 7(b) of the Small Busi- ness Act (15 U.S.C. 636(b)) is amended— 15USC63 6 note. 15 USC 65 7m .

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