Emergency Loans Reform Act of 2024

(1) by striking the section designation and all that follows through For in subsection (a) and inserting the following:

For

(1) ; and

(2) by striking subsection (b).

(1) by striking the section designation and all that follows through The Secretary in the first sentence and inserting the following:

The Secretary

(2) in subsection (a) (as so designated)—

(A) by striking if the applicant and inserting the following: “if—

(1) the applicant

(B) in paragraph (1) (as so designated), by striking at least a 30 per centum and all that follows through in effect for the previous year and the and inserting the following: “a qualifying production loss, as determined by the Secretary, as a result of the disaster; and

(2) the

(B) ; and

(C) in paragraph (2) (as so designated), by striking Such loans and inserting the following:

A loan under subsection (a)

(C) ; and

(3) in subsection (b) (as so designated)—

(A) by striking per centum, and inserting percent,; and

(B) by striking per centum as and inserting percentage as.