US HB7023 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on May 27 2020 - 25% progression
Action: 2020-05-27 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Summary

To require the Secretary of the Treasury to implement a program that provides financial assistance to sports facilities, museums, and community theaters, and for other purposes. This bill requires the Department of the Treasury to implement a program to provide financing of at least $1 billion for loans related to losses incurred as a result of COVID-19 (i.e., coronavirus disease 2019) to certain community-owned or private businesses that have contractual obligations for making lease, rent, or bond payments for publicly owned sports facilities, museums, and community theaters. Terms for such loans shall include (1) a 15-year term, (2) no requirement to provide collateral or a guaranty, and (3) a maximum loan amount of $25 million. An applicant for such a loan must make a good faith certification that, among other things, (1) the loan request is necessary to support the recipient's ongoing operations; and (2) the recipient will use the loan for purposes directly connected to contracted services, including performances and sporting events.

Tracking Information

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Title

To require the Secretary of the Treasury to implement a program that provides financial assistance to sports facilities, museums, and community theaters, and for other purposes.

Sponsors

Rep. Lori Trahan [D-MA]Rep. David McKinley [R-WV]Rep. Doris Matsui [D-CA]Rep. Max Rose [D-NY]
Rep. Brian Fitzpatrick [R-PA]Rep. Debra Haaland [D-NM]Rep. Tim Ryan [D-OH]Rep. David Trone [D-MD]
Rep. Michael Simpson [R-ID]Rep. Joe Courtney [D-CT]Rep. Elissa Slotkin [D-MI]Rep. Glenn Thompson [R-PA]
Rep. David Loebsack [D-IA]Rep. Peter Welch [D-VT]Rep. Joseph Morelle [D-NY]Rep. Veronica Escobar [D-TX]
Rep. Abby Finkenauer [D-IA]Rep. Brian Higgins [D-NY]Rep. Joe Wilson [R-SC]Rep. Peter King [R-NY]
Rep. Joe Cunningham [D-SC]Rep. John Carter [R-TX]Rep. Anthony Brindisi [D-NY]Rep. Betty McCollum [D-MN]
Rep. Rob Bishop [R-UT]Rep. David Roe [R-TN]Rep. Ann Kuster [D-NH]Rep. Marcy Kaptur [D-OH]
Rep. Mo Brooks [R-AL]Rep. Steven Palazzo [R-MS]Rep. Don Bacon [R-NE]Rep. Cindy Axne [D-IA]
Rep. Charles Fleischmann [R-TN]Rep. Paul Tonko [D-NY]Rep. Suzanne Bonamici [D-OR]Rep. Fred Keller [R-PA]
Rep. Anthony Brown [D-MD]Rep. Andre Carson [D-IN]Rep. James McGovern [D-MA]Rep. Greg Gianforte [R-MT]
Rep. Jim Costa [D-CA]Rep. Mike Kelly [R-PA]Rep. Brad Wenstrup [R-OH]Rep. Robert Aderholt [R-AL]
Rep. David Kustoff [R-TN]Rep. Sean Maloney [D-NY]Rep. Thomas Suozzi [D-NY]Rep. Antonio Delgado [D-NY]
Rep. Lisa Rochester [D-DE]Rep. John Katko [R-NY]Rep. Andy Kim [D-NJ]Rep. Will Hurd [R-TX]
Rep. Brett Guthrie [R-KY]Rep. Anthony Gonzalez [R-OH]Rep. Steve Stivers [R-OH]Rep. Denver Riggleman [R-VA]
Rep. Elise Stefanik [R-NY]Rep. Marcia Fudge [D-OH]Rep. Jeff Fortenberry [R-NE]Rep. Michael Conaway [R-TX]
Rep. Garland Barr [R-KY]Rep. Joyce Beatty [D-OH]Rep. Dan Newhouse [R-WA]Rep. John Rose [R-TN]
Rep. Al Lawson [D-FL]Rep. Mark DeSaulnier [D-CA]Rep. Abigail Spanberger [D-VA]

History

DateChamberAction
2020-05-27HouseReferred to the House Committee on Financial Services.
2020-05-27HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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