3.0.0 6341 2022-02-08T23:15:20Z 2022-02-08T23:15:20Z House HR 2020-03-23 116 [Congressional Record Volume 166, Number 57 (Monday, March 23, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. CRAIG:H.R. 6341.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1The Congress shall have Power to . . . provide for the . .. general Welfare of the United States; . . .Article I, Section 8, Clause 3The Congress shall have Power . . . To regulate Commercewith foreign Nations, and among the several States, and withthe Indian Tribes.[Page H1717]]]> hssm00 Small Business Committee House Standing Referred to 2020-03-23T15:30:42Z SBA Business Stabilization Direct Loan Program Act of 2020 116 6268 HR 2020-03-12 Referred to the House Committee on Small Business. Related bill CRS COVID–19 Relief for Small Businesses Act of 2020 116 6312 HR 2020-03-19 Referred to the House Committee on Small Business. Related bill CRS 2020-03-23 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2020-03-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-03-23 Introduced in House IntroReferral 1000 9 Library of Congress C001119 Rep. Craig, Angie [D-MN-2] Angie Craig D MN 2 N Commerce Administrative law and regulatory procedures Cardiovascular and respiratory health Emergency medical services and trauma care Employee benefits and pensions Employment taxes Government lending and loan guarantees Infectious and parasitic diseases Interest, dividends, interest rates Sales and excise taxes Small Business Administration Small business State and local taxation Wages and earnings Commerce 00 2020-03-23 Introduced in House 2020-04-15T15:33:00Z Small Business Relief Guaranteed Loan Program Act of 2020

This bill requires the Small Business Administration (SBA) to carry out a temporary program to guarantee loans made by banks or other lenders to small businesses affected by COVID-19 (i.e., coronavirus disease 2019).

Such loans shall be zero-interest, fee-free loans, and up to 50% of the principal on such loans shall be forgiven if a recipient demonstrates that its employment has not decreased between December 31, 2019, and December 31, 2021.

In addition to permitted uses of SBA loans, such guaranteed loans may also be used for purposes such as providing employees of the borrower with (1) benefits and wages, (2) technology for shifting to telework or remote work, or (3) necessary items specified by a public health authority to mitigate the spread of COVID-19.

]]> Small Business Relief Guaranteed Loan Program Act of 2020 Display Title Small Business Relief Guaranteed Loan Program Act of 2020 Official Title as Introduced To establish a business stabilization guaranteed loan program and authority to establish a secondary market in the Small Business Administration, and for other purposes. Introduced in House IH Short Title(s) as Introduced Small Business Relief Guaranteed Loan Program Act of 2020 Introduced in House IH Introduced in House 2020-03-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6341ih/xml/BILLS-116hr6341ih.xml 2020-03-23 Referred to the House Committee on Small Business. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.