Small Business Administration Authorization Act

(Measure indefinitely postponed in Senate, H.R. 692 passed in lieu)

Small Business Administration Authorization Act - =Title I: Authorizations and Limitations= - Eliminates administrative expenses as items which can be financed from the disaster loan fund and the business loan and investment fund established by the Small Business Act. Repeals the aggregate amount restriction for small business loans and disaster loan fund authorizations. Makes authorizations for specified programs authorized by the Small Business Act and the Small Business Investment Act. Amends the Small Business Investment Act to eliminate appropriations to the revolving funds for lease guarantees and surety bond guarantees and the requirement that the Administrator of the Small Business Administration pay specified sums from the funds into the Treasury.

=Title II: Moratoriums= - Authorizes the Administration to assume or suspend a small business concern's obligation to make payments on a direct loan made by the Administration under the Small Business Act. Specifies conditions which must be met before the loan may be suspended or assumed.

=Title III: Certificate of Competency= - Amends the Small Business Act to prohibit government procurement officers from denying a contract to a Small Business concern which has been certified to perform such contract by the Administration without referring the matter for final disposition to the Administration.

=Title IV: Procurement Assistance= - Amends the Small Business Act to require the Administration to give priority in awarding contracts to concerns which shall perform a substantial proportion of the production of those contracts within areas of concentrated unemployment, under employment, or within labor surplus areas.

=Title V: Miscellaneous Conforming and Technical Amendments= - Amends the Small Business Act to require that repayments of water pollution control loans be paid into the disaster loan revolving fund, and that the displaced business loan program be funded from, and repayments made to, the disaster loan revolving fund.

=Title VI: Home Builders= - Amends the Small Business Act by permitting financing for construction or rehabilitation of commercial or residential properties. Permits individuals or non-profit groups to obtain regular business loans to rehabilitate blighted urban or rural areas.

=Title VII: Compliance Loans= - Amends the Small Business Act by enabling the Administration to provide compliance loans to firms who must comply with Federal statutes or regulations adopted prior to 1974.

=Title VIII: Disaster Relief= - Empowers the Administrator of the Small Business Administration to declare a major natural disaster. Empowers the Administrator to make economic injury loans available to small businesses affected by a severe, temporary, and extraordinary economic dislocation or natural condition. Requires certification by a governor, to the Administration, that a significant number of otherwise financially sound small businesses will become insolvent or be unable to return quickly to their former level of operation unless economic injury loans are made available to them.

Sets forth the reduction of the interest rate on physical disaster loans.

Provides that the principal amount of any loan made in connection with a disaster which occurs on or after April 1, 1977, but prior to October 1, 1977, may be increased by such amount, but not more than $2,000, as the Administration determines to be reasonable in light of the amount and nature of loss, damage, or injury sustained in order to finance the installation of insulation in the property which was lost, damaged, or injured, if the uninsured damaged portion of the property is ten percent or more of the market value of the property at the time of the disaster.