US HB7023 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on May 27 2020 - 25% progression, died in committee
Action: 2020-05-27 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 27 2020 - 25% progression, died in committee
Action: 2020-05-27 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
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
History
Date | Chamber | Action |
---|---|---|
2020-05-27 | House | Referred to the House Committee on Financial Services. |
2020-05-27 | House | Introduced in House |
Subjects
Business investment and capital
Cardiovascular and respiratory health
Commerce
Economic performance and conditions
Emergency medical services and trauma care
Government lending and loan guarantees
Infectious and parasitic diseases
Museums, exhibitions, cultural centers
Performing arts
Small business
Sports and recreation facilities
Cardiovascular and respiratory health
Commerce
Economic performance and conditions
Emergency medical services and trauma care
Government lending and loan guarantees
Infectious and parasitic diseases
Museums, exhibitions, cultural centers
Performing arts
Small business
Sports and recreation facilities
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/7023/all-info |
Text | https://www.congress.gov/116/bills/hr7023/BILLS-116hr7023ih.pdf |