“This legislation will enable tornado victims to use SBA mitigation loans to construct safe rooms as they rebuild the homes they lost. As Oklahomans, we have learned to anticipate these disasters each year, and while we can never truly know what each year will bring, this legislation may help ease the minds of those who have suffered unbelievable losses in the past.”
Examples of current SBA mitigation activities include retaining walls, sea walls, grading and contouring land, relocating utilities and modifying structures.
The bill would add safe rooms as an eligible mitigation activity so homeowners would have access to low-interest loans. It does not replace or duplicate other federal programs that may provide for safe rooms.
The bill would allow a backstop to impacted families in the event that other federal funds are not available for tornado safe rooms after disasters.