US Congress Senate Bill 3787 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 8-0)
Status: Introduced on May 20 2020 - 25% progression, died in committee
Action: 2020-05-20 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Establishes and provides funding for the Microbusiness Assistance Fund through which the Department of the Treasury must provide grants to specified small entities. Specifically, the bill provides $125 billion for grants to entities such as community small businesses and nonprofits that have suffered a drop in revenue of over 20% during the COVID-19 (i.e., coronavirus disease 2019) pandemic. Such a grant shall not exceed $250,000 and may only be used for certain purposes, including (1) rehiring or hiring furloughed employees; (2) payment of compensation, rent or mortgage, utilities, or insurance; and (3) providing health care and benefits to employees. Treasury is prohibited from denying a grant on the basis of any criminal history or involvement with the criminal legal system. Further, Treasury must give priority to people of color, veterans, women-owned community businesses, and socially and economically disadvantaged individuals, and 75% of appropriated amounts shall be provided to businesses or nonprofits owned or controlled by one or more socially and economically disadvantaged individuals.

Saving Our Street Act

Sen. Kamala Harris [D-CA]	Sen. Kirsten Gillibrand [D-NY]	Sen. Ron Wyden [D-OR]	Sen. Edward Markey [D-MA]
Sen. Amy Klobuchar [D-MN]	Sen. Elizabeth Warren [D-MA]	Sen. Tammy Duckworth [D-IL]	Sen. Jack Reed [D-RI]

Date	Chamber	Action
2020-05-20	Senate	Read twice and referred to the Committee on Finance.

HB6949 (Same As) 2020-05-19 - Referred to the Committee on Small Business, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
SB4047 (Same As) 2020-06-23 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/3787/all-info
Text	https://www.congress.gov/116/bills/s3787/BILLS-116s3787is.pdf