US SB327 | 2021-2022 | 117th Congress

Status

Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 12 2021 - 25% progression
Action: 2021-02-12 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Requires the Small Business Administration to establish a loan program to assist border businesses that are directly impacted by the COVID-19 (i.e., coronavirus disease 2019) pandemic. For the purposes of this bill, the term border business refers to a business that (1) is eligible for an economic injury disaster loan, (2) has its principal office located in the contiguous United States and is located within 25 miles of the U.S. border, (3) has fewer than 50 employees and annual revenue of $1 million or less, and (4) demonstrates a reduction in revenue from specified prior periods. Recipients must use loan funds for purposes related to COVID-19 such as (1) providing sick leave to employees, (2) meeting increased costs arising from interrupted supply chains, or (3) paying for logistical expenses associated with border closures.

Tracking Information

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Title

Border Business COVID–19 Rescue Act

Sponsors


History

DateChamberAction
2021-02-12SenateRead twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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