Protect Our Homes Act
Sponsored By: Representative Soto, Darren [D-FL-9]
Introduced
Summary
This bill creates a new SBA loan program that lets homeowner associations and similar groups get loans to repair shared residential spaces and to harden them against future disasters. It focuses on repairs after natural disasters and on funding mitigation in areas hit by recent disasters to protect common areas like pools, roofs, and landscaping.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Disaster repair loans for homeowners associations
If enacted, the SBA would create a Residential Common Area Repair Loan program for owner-run homeowner or condo associations. Associations could get repair loans for common-area damage caused by natural disasters and mitigation loans to protect disaster-damaged property. Most associations could borrow up to $500,000 per disaster; associations that are a major local employer could get up to $2,000,000 or more set by the SBA. Loans could run up to 30 years. Interest would be capped at a Treasury-linked rate plus 0.25%, rounded to the nearest one-eighth of 1 percent. The SBA could defer payments like other SBA loans and generally would not require collateral for loans of $14,000 or less.
Sponsors & CoSponsors
Sponsor
Soto, Darren [D-FL-9]
FL • D
Cosponsors
Rep. Patronis, Jimmy [R-FL-1]
FL • R
Sponsored 6/4/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov