Fast Track Disaster Relief Act
Term Dictionary
If you come across any unfamiliar words while reading, these resources can help make everything clearer. Pick whichever one works best for you!
- Congress.gov Legislative Glossary - Comprehensive congressional terms
- NVFC Congressional Terms Glossary - Concise, easy-to-understand definitions
The gist
Lets the Internal Revenue Service (IRS) hand tax return info straight to the Small Business Administration (SBA) so disaster loan applications move faster after hurricanes, floods, or fires.
Who wins, who loses
- Wins: small business owners and homeowners hit by disasters who need SBA loans fast.
- Loses: privacy advocates worried about expanding IRS data-sharing to another federal agency.
What it does
- Amends Section 6103(l) of the tax code to add a new disclosure category.
- Requires the IRS to share return info with SBA upon written request from the SBA Administrator.
- Limits use strictly to checking eligibility for Section 7(b) disaster loans.
- Takes effect for disclosures made after enactment.
Why should I care?
Supporters say disaster victims currently wait weeks tracking down tax transcripts while their businesses sit destroyed ā€” automatic sharing cuts red tape. Critics argue every new IRS data-sharing law chips away at taxpayer privacy and could expand later. Disasters increasingly hit teens' families and hometown businesses. Where do you land? Vote below and use "Tell Your Rep" to make sure your voice reaches Congress.