US SB3541 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on March 19 2020 - 25% progression, died in committee
Action: 2020-03-19 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 19 2020 - 25% progression, died in committee
Action: 2020-03-19 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Establishes certain measures related to small business disaster loans made in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill authorizes the Small Business Administration to forgive the outstanding principal balance of a small business disaster loan made in response to COVID-19 if the borrower maintains all of its employees at full pay and benefits throughout the duration of the declared national emergency. The bill also raises the maximum amount for a disaster loan made in response to COVID-19, and it waives the requirement that a borrower demonstrate an inability to obtain credit elsewhere.
Title
A bill to modify requirements relating to small business disaster loans made in response to COVID-19, and for other purposes.
Sponsors
Sen. Tammy Baldwin [D-WI] |
History
Date | Chamber | Action |
---|---|---|
2020-03-19 | Senate | Read twice and referred to the Committee on Small Business and Entrepreneurship. |
Subjects
Cardiovascular and respiratory health
Commerce
Disaster relief and insurance
Emergency medical services and trauma care
Employee benefits and pensions
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
Wages and earnings
Worker safety and health
Commerce
Disaster relief and insurance
Emergency medical services and trauma care
Employee benefits and pensions
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
Wages and earnings
Worker safety and health
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/3541/all-info |
Text | https://www.congress.gov/116/bills/s3541/BILLS-116s3541is.pdf |