3.0.0 6755 2023-01-11T13:42:59Z 2023-01-11T13:42:59Z House HR 2020-05-08 116 [Congressional Record Volume 166, Number 87 (Friday, May 8, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. FOSTER:H.R. 6755.Congress has the power to enact this legislation pursuantto the following:This bill is enacted pursuant to the power granted toCongress under Article I, Section 8, Clauses 1 and 18 of theUnited States Constitution.[Page H1986]]]> hssm00 Small Business Committee House Standing Referred to 2020-05-08T14:08:45Z 2020-05-08 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2020-05-08 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-05-08 Introduced in House IntroReferral 1000 9 Library of Congress F000454 Rep. Foster, Bill [D-IL-11] Bill Foster D IL 11 N Commerce Appropriations Bank accounts, deposits, capital Banking and financial institutions regulation Business expenses Cardiovascular and respiratory health Credit and credit markets Emergency medical services and trauma care Government lending and loan guarantees Infectious and parasitic diseases Small business Commerce 00 2020-05-08 Introduced in House 2020-06-03T19:14:43Z PPP Small Business Support Act

This bill revises reimbursement requirements pursuant to which the Small Business Administration (SBA) provides funds to lenders participating in the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

Specifically, the bill requires the SBA to give a lender that makes a paycheck protection loan a reimbursement of $1,000 for each such loan, with graduated additional amounts distributed to a lender based on the amount of the loan. The bill also provides a further reimbursement of $250 for each paycheck protection loan that a lender with consolidated assets of less than $50 billion provides to a new customer.

Further, the bill requires the SBA to determine whether demand for paycheck protection loans is likely to exceed any future appropriated amounts and, if so, to prioritize providing guarantees for loans of $300,000 or less.

]]> PPP Small Business Support Act Display Title PPP Small Business Support Act Official Title as Introduced To amend the Small Business Act to revise requirements under the paycheck protection program, and for other purposes. Introduced in House IH Short Title(s) as Introduced PPP Small Business Support Act Introduced in House IH Introduced in House 2020-05-08T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6755ih/xml/BILLS-116hr6755ih.xml 2020-05-08 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.