Page:United States Statutes at Large Volume 86.djvu/598

 556

Jl^ll^\^\\^'' 15 USC 633.

Disaster relief legislation, Presi-

dentiai review. Report to Con^'^ '

PUBLIC LAW 92-385-AUG. 16, 1972

[86 STAT.

"(7) to make such loans (either directly or in cooperation with banks or other lending institutions through agreements to par. ticipate on an immediate or deferred basis) as the Administration may determine to be necessary or appropriate to assist, or to refinance the existing indebtedness of, any small business concern directly and seriously affected by the significant reduction of the scope or amount of Federal support for any project as a result of any international agreement limiting the development of strategic arms or the installation of strategic arms or strategic arms facilities, if the Administration determines that such concern is likely to suffer substantial economic injury without assistance under this paragraph.". (b) Section 4(c) of the Small Business Act (15 XT.S.(\ 683(c)) is amended— (1) by inserting " 7 (b)(7), " immediately after " 7 (b)(6), " in paragraph (1) thereof; and (2) by inserting " 7 (b)(5), 7 (b)(6), 7 (b)(7), " immediately after " 7 (b)(4), " in paragraph (2)(A) thereof. gj,^^ 3^ 'pj^^ President shall conduct a thorough review of existing ^.

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disaster relief legislation, and not later than January 1, 19(6, he shall transmit to the Congress a report containing specific legislative proposals for the comprehensive revision of such legislation in order to— (1) standardize the amount of benefits lavailable to persons affected by disasters so as to achieve fairness and consistency with preclude the need for separate legislation to aid persons affected by future disasters; (2) improve the execution of the Government's disaster relief program by eliminating unnecessary administrative procedures, J and reducing the number of agencies involved in disaster relief or increasing individual agency authority and responsibility; and (3) prevent the misuse of benefits made available under the program. educauo°naMns''t!-^ SEC. 4. (a) The Cougress hereby finds and declares that there has tutions. been substantial damage to educational institutions as a result of hurricane and tropical storm Agnes; that disaster relief for public educational institutions is adequately covered by legislation heretofore enacted; that nonprofit private educational institutions are not provided disaster relief benefits comparable to those provided to public educational institutions; that nonprofit private educational institutions have a secular educational mission; that students attending ...i?.:. V. nonprofit private educational institutions that have been damaged or destroyed will have to be provided for in public institutions if the former institutions are not restored; and that these facts compel enactment of special measures designed to provide nonprofit private educational institutions which were victims of this catastrophe with T h. itasr, -; disaster relief benefits comparable to those provided for public educational institutions. Damages^ft^m ^\y^ 'JQ ^^Q exteut such loss Or damage or destruction is not compenAgne'T, gran™. sated for by insurance or otherwisej the President may make grants to nonprofit private educational institutions in major disaster areas as designated by the President for the repair, restoration, reconstruction, or replacement of educational facilities, supplies, or equipment which have been lost, damaged, or destroyed as a result of hurricane and tropical storm Agnes, if such facilities, supplies, or equipment were ivgr >rfsi •:; owned on the date of such loss, damage, or destruction by an organization exempt from taxation under section 501(c), (d), or (e) of the s/st^t^^isss^^' Internal Revenue Code of 1954 and the facilities, supplies, or equip26 USC 501. ment were being used to carry out the purposes for which such organization was accorded that exemption; except that no grant may be
 * regard to the amount of benefits provided to such persons and to

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