US SB3604 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 7-0)
Status: Introduced on May 5 2020 - 25% progression, died in committee
Action: 2020-05-05 - 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 May 5 2020 - 25% progression, died in committee
Action: 2020-05-05 - 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
Requires the Small Business Administration (SBA) to report specified data on economic relief programs implemented in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the SBA must daily report the total number and dollar amount of loans or grants approved and disbursed under programs such as the paycheck protection program and the emergency grants program; daily report the amount of remaining authority and funds appropriated for such programs and an estimate of the date on which such funds will be depleted; weekly report the number and dollar amount of certain program loans and loan payments disaggregated by specified metrics such as geography, demographics, loan sizes, industry, and lender type; report on the number of employees expected to be retained by borrowers of certain loans as a result of economic relief programs; report its plans to carry out specified relief programs and identify and prevent waste, fraud, and abuse in such programs; request certain information such as demographic and job information when a borrower applies for loan forgiveness; and make each required report publicly available and take all necessary steps to protect sensitive personally identifiable information. The Government Accountability Office must report specified information, including (1) the effectiveness of certain programs in reaching underserved businesses, (2) a review of the reports required to be published under this bill, and (3) the impact of certain relief programs on jobs.
Title
Transparency and Oversight of COVID–19 Small Business Assistance Act
Sponsors
Sen. Benjamin Cardin [D-MD] | Sen. Jeanne Shaheen [D-NH] | Sen. Sherrod Brown [D-OH] | Sen. Charles Schumer [D-NY] |
Sen. Joe Manchin [D-WV] | Sen. Jack Reed [D-RI] | Sen. Ron Wyden [D-OR] |
History
Date | Chamber | Action |
---|---|---|
2020-05-05 | Senate | Read twice and referred to the Committee on Small Business and Entrepreneurship. |
Subjects
Appropriations
Business expenses
Cardiovascular and respiratory health
Commerce
Congressional oversight
Disaster relief and insurance
Economic performance and conditions
Emergency medical services and trauma care
Fraud offenses and financial crimes
Government information and archives
Government lending and loan guarantees
Government studies and investigations
Infectious and parasitic diseases
Military personnel and dependents
Minority and disadvantaged businesses
Rural conditions and development
Small business
Veterans' education, employment, rehabilitation
Veterans' loans, housing, homeless programs
Wages and earnings
Women in business
Business expenses
Cardiovascular and respiratory health
Commerce
Congressional oversight
Disaster relief and insurance
Economic performance and conditions
Emergency medical services and trauma care
Fraud offenses and financial crimes
Government information and archives
Government lending and loan guarantees
Government studies and investigations
Infectious and parasitic diseases
Military personnel and dependents
Minority and disadvantaged businesses
Rural conditions and development
Small business
Veterans' education, employment, rehabilitation
Veterans' loans, housing, homeless programs
Wages and earnings
Women in business
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/3604/all-info |
Text | https://www.congress.gov/116/bills/s3604/BILLS-116s3604is.pdf |