Louisiana Homeowners Assistance Program Task Force gets brief from public over statutory and regulatory issues
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Summary at a Glance
We the people of Louisiana have heard all about this big SBA fix. We might believe you if you start following the active fixes currently in place. We call your attention to laws and regulations that our Senators Kennedy and Cassidy worked to get us all.

The Federal Law that I would like to bring to the attention of the Task Force this morning is Public Law 115-123. This law was signed by President Donald Trump on Feb. 9, 2018 and detailed in H.R. 1892 under the common name of Bipartisan Budget Act of 2018.

Let me read in part, what concerns us today.

"That with respect to any such duplication of benefits, the Secretary and any grantee under this section shall not take into consideration or reduce the amount provided to any applicant for assistance from the grantee where such applicant applied for and was approved, but declined assistance related to such major declared disasters that occurred in 2014, 2015, 2016, and 2017 from the Small Business Administration under section 7(b) of the Small Business Act (15 U.S.C. 636(b))."

Exhibit B Bipartisan Budget Act of 2018 H.R. 1892 PL 115-123 (Link)

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