3.0.0 6892 2023-01-11T13:42:54Z 2023-01-11T13:42:54Z House HR 2020-05-15 116 [Congressional Record Volume 166, Number 92 (Friday, May 15, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. BEATTY:H.R. 6892.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the U.S. Constitution[Page H2261]]]> hsba00 Financial Services Committee House Standing Referred to 2020-05-15T13:04:20Z 2020-05-15 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2020-05-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-05-15 Introduced in House IntroReferral 1000 9 Library of Congress B001281 Rep. Beatty, Joyce [D-OH-3] Joyce Beatty D OH 3 N Finance and Financial Sector Economic performance and conditions Educational facilities and institutions Federal Reserve System Government lending and loan guarantees Small business Finance and Financial Sector 00 2020-05-15 Introduced in House 2021-03-26T16:26:54Z This bill expands existing COVID-19 (i.e., coronavirus disease 2019) economic aid programs to include nonprofit organizations and institutions of higher education. Specifically, the Federal Reserve Board must make these organizations eligible for the Main Street Lending Program, which is currently available to small- and mid-sized businesses.

The board must create low-cost loan options for nonprofit organizations, as well offer loan forgiveness to certain nonprofit organizations that predominately serve low-income communities.

The Main Street Lending Program must offer loans that do not have a minimum loan size and includes the ability to defer payments without capitalization of interest to small businesses, nonprofits, and institutions of higher education. The board must authorize community development financial institutions to be eligible lenders.

]]> To amend the CARES Act to add requirements for the Main Street Lending Program related to non-profit organizations, small businesses, minority depository institutions, and community development financial institutions, and for other purposes. Display Title To amend the CARES Act to add requirements for the Main Street Lending Program related to non-profit organizations, small businesses, minority depository institutions, and community development financial institutions, and for other purposes. Official Title as Introduced To amend the CARES Act to add requirements for the Main Street Lending Program related to non-profit organizations, small businesses, minority depository institutions, and community development financial institutions, and for other purposes. Introduced in House IH Introduced in House 2020-05-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6892ih/xml/BILLS-116hr6892ih.xml 2020-05-15 Referred to the House Committee on Financial Services. 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.