US HB6960 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on May 22 2020 - 25% progression
Action: 2020-05-22 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]

Summary

MOM-AND-POP Act Maximizing Our Money and Addressing Novel Disasters by Protecting Our Proprietors Act This bill reserves assistance under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), for specified small entities. Specifically, the bill establishes a set-aside of at least 25% of amounts appropriated for paycheck protection loans to guarantee loans of $150,000 or less made to small entities such as a (1) business or nonprofit with 25 employees or fewer, (2) sole proprietor, or (3) self-employed individual. The Small Business Administration must consider implementing a similar set-aside for any future loan programs created in direct response to a major disaster.

Tracking Information

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Title

MOM-AND-POP Act Maximizing Our Money and Addressing Novel Disasters by Protecting Our Proprietors Act

Sponsors


History

DateChamberAction
2020-05-22HouseReferred to the House Committee on Small Business.
2020-05-22HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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