DISASTER LOAN AMOUNTS.

SEC. 12078. DISASTER LOAN AMOUNTS.(a) Increased Loan Caps.—Section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is amended by inserting immediately after paragraph (7), as added by this Act, the following:“(8) Increased loan caps.—“(A) Aggregate loan amounts.—Except as provided in subparagraph (B), and notwithstanding any other provision of law, the aggregate loan amount outstanding and committed to a borrower under this subsection may not exceed $2,000,000.“(B) Waiver authority.—The Administrator may, at the discretion of the Administrator, increase the aggregate loan amount under subparagraph (A) for loans relating to a disaster to a level established by the Administrator, based on appropriate economic indicators for the region in which that disaster occurred.”.(b) Disaster Mitigation.—(1) In general.—Section 7(b)(1)(A) of the Small Business Act (15 U.S.C. 636(b)(1)(A)) is amended by inserting “of the aggregate costs of such damage or destruction (whether or not compensated for by insurance or otherwise)” after “20 per centum”.(2) Effective date.—The amendment made by paragraph (1) shall apply with respect to a loan or guarantee made after the date of enactment of this Act.(c) Technical Amendments.—Section 7(b) of the Small Business Act (15 U.S.C. 636(b)) is amended—122 STAT. 1416(1) in the matter preceding paragraph (1), by striking “the, Administration” and inserting “the Administration”; and(2) in the undesignated matter at the end—(A) by striking “, (2), and (4)” and inserting “and (2)”; and(B) by striking “, (2), or (4)” and inserting “(2)”.