US HB6893 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on May 15 2020 - 25% progression, died in committee
Action: 2020-05-15 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 15 2020 - 25% progression, died in committee
Action: 2020-05-15 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Provides additional funding for and modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill increases funding for paycheck protection loans by $560 billion, and it provides additional funding of $571 billion for paycheck protection loans through FY2021. Further, the bill sets aside $200 billion for paycheck protection loans to businesses and nonprofit organizations with 25 or fewer employees, sole proprietors, independent contractors, and self-employed individuals. The bill also modifies eligibility for the program by (1) making publicly traded companies ineligible to participate, and (2) requiring borrowers to certify a decline in revenue of 20% or more. Further, the bill makes it unlawful for a lender to discriminate against or give preferential treatment to any eligible recipient. The Small Business Administration must report on the demographic data, including race, gender, and ethnicity, of paycheck protection loan recipients.
Title
Making Opportunities a Reality for Entrepreneurs Paycheck Protection Program More PPP Act
Sponsors
Rep. Joyce Beatty [D-OH] | Rep. Al Green [D-TX] |
History
Date | Chamber | Action |
---|---|---|
2020-05-15 | House | Referred to the House Committee on Small Business. |
2020-05-15 | House | Introduced in House |
Subjects
Appropriations
Business expenses
Cardiovascular and respiratory health
Commerce
Congressional oversight
Emergency medical services and trauma care
Executive agency funding and structure
Government lending and loan guarantees
Infectious and parasitic diseases
Self-employed
Small business
Small Business Administration
Social work, volunteer service, charitable organizations
Wages and earnings
Business expenses
Cardiovascular and respiratory health
Commerce
Congressional oversight
Emergency medical services and trauma care
Executive agency funding and structure
Government lending and loan guarantees
Infectious and parasitic diseases
Self-employed
Small business
Small Business Administration
Social work, volunteer service, charitable organizations
Wages and earnings
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/6893/all-info |
Text | https://www.congress.gov/116/bills/hr6893/BILLS-116hr6893ih.pdf |