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Bill

HR 9159

To amend the Small Business Act to establish a program under which the Small Business Administration may make supplemental disaster loans to homeowner associations to repair common areas damaged by disasters and implement disaster mitigation measures, and for other purposes.

119th Congress Introduced by Jimmy Patronis and 1 co-sponsor

The bill would create an SBA disaster loan program to provide supplemental loans to homeowner associations for repairing common areas and implementing disaster-mitigation measures.

Introduced in House
0
WeVote Research Nonpartisan
Bill Summary · HR 9159

Summary of HR 9159 (119th Congress)

Purpose and intent

HR 9159 would amend the Small Business Act to create a new program under which the Small Business Administration (SBA) can provide supplemental disaster loans to homeowner associations (HOAs). The loans would be specifically for repairing common areas damaged by disasters and for implementing disaster mitigation measures. The bill aims to expand SBA disaster lending to address shared property infrastructure and resilience improvements within HOA-managed communities.

Key provisions and changes

  • New program under SBA: Establishes a disaster loan program administered by the SBA targeted at HOAs, in addition to existing SBA disaster loan authorities for individuals and businesses.
  • Purposes of loans:
    • Repair of common areas damaged by declared disasters.
    • Implementation of disaster mitigation measures to improve resilience against future disasters.
  • Eligible applicants (anticipated): Homeowner associations that manage common property in planned communities or multi-unit developments. (Exact eligibility criteria would be defined in the implementing provisions of the bill.)
  • Loan scope and terms (anticipated): The bill would authorize supplemental disaster loans, with terms likely mirroring SBA disaster loan framework (e.g., interest rates, repayment periods, and eligibility documentation), though specific rate and term details would be set by SBA regulations or the statute once enacted.
  • Mitigation emphasis: A prominent focus on measures that reduce future disaster risk, potentially requiring or encouraging mitigation components as part of loan use or eligibility.
  • Coordination with other programs: The measure may coordinate with existing federal disaster assistance programs and SBA loan authorities, clarifying that this is additive rather than replacing current programs.

Who would be affected

  • HOAs and their boards: Primary beneficiaries who could access funds to repair and upgrade common areas and to adopt mitigation projects.
  • Residents in HOA communities: Indirect beneficiaries through safer and better-maintained shared spaces and potentially reduced long-term costs from enhanced resilience.
  • SBA and federal disaster policy: Expansion of SBA loan programs to include HOA-structured entities and management of disaster-related lending for shared property.

Procedural and timeline aspects

  • Introduced: June 4, 2026.
  • Referral: Referred to the House Committee on Small Business (same day).
  • Status: As of the action history provided, the bill is at the committee referral stage and has not yet advanced to floor consideration. No hearing or markups are listed in the provided history.
  • Sponsors:
    • Primary sponsor not listed in the provided text, but co-sponsors include Jimmy Patronis and Darren Soto.

Potential impact and considerations

  • Financial risk and oversight: Introducing a loan program for HOAs raises questions about credit risk, loan collateral, underwriting standards, default remedies, and oversight, particularly given the governance structures of HOAs.
  • Policy implications: The measure signals a federal interest in expanding disaster resilience financing to shared community property, potentially encouraging proactive mitigation investments.
  • Implementation details needed: For full assessment, details such as eligibility criteria, loan limits, interest rates, repayment terms, required mitigation standards, eligibility documentation, and oversight mechanisms would be critical and would typically be established in accompanying rules or amendments.

If you’d like, I can tailor this summary to focus on specific aspects (e.g., financial terms, governance implications, or comparison with existing SBA disaster loan programs) or monitor for updates on committee actions and floor votes.

Compiled from official sources — confirm details with the bill’s official record.

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