Hinson co-sponsors legislation to help homeowners recover from natural disasters

WASHINGTON – U.S. Representative Ashley Hinson, R-Iowa, announced that she co-sponsored the bipartisan law on rebuilding communities after disasters (HR 4215).

This legislation increases the maximum loan amount for Small Business Administration (SBA) physical damage loans from $ 200,000 to $ 400,000 for home repairs and from $ 40,000 to $ 75,000 to replace personal effects. and household. The ceilings for these loans have not been increased since 1994; this legislation brings these loan limits in line with today’s home prices to help homeowners fully recover from inevitable disasters.

Hinson is one of 35 original co-sponsors of the legislation that was introduced by U.S. Reps María Elvira Salazar, R-Fla., Elaine Luria, D-Va., Dan Crenshaw, R-Texas, Joe Neguse, D -Colo. , and Garret Graves, R-La. US Rep. Mariannette Miller-Meeks, R-Iowa, with Hinson is a co-sponsor of Bill.

“I am proud to help introduce the bipartisan Post-Disaster Community Reconstruction Act to ensure homeowners in Iowa can get the help they need to recover from a disaster. As the Iowians know all too well, reconstruction after a disaster is extremely expensive and difficult. Updating the SBA’s Disaster Loan Program and increasing its loan limit is a smart way to help families have the resources and certainty they need to fully recover. disaster, ”she said in a released statement.