3.0.0 7740 2023-01-11T13:45:51Z 2023-01-11T13:45:51Z House HR 2020-07-23 116 [Congressional Record Volume 166, Number 130 (Thursday, July 23, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. CHABOT:H.R. 7740.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H3838]]]> hssm00 Small Business Committee House Standing Referred to 2020-07-23T13:02:00Z 2020-07-23 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2020-07-23 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-07-23 Introduced in House IntroReferral 1000 9 Library of Congress C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 N B001306 Rep. Balderson, Troy [R-OH-12] Troy Balderson R OH 12 2020-08-07 False Commerce Accounting and auditing Appropriations Business education Business expenses Business records Cardiovascular and respiratory health Economic development Emergency medical services and trauma care Government lending and loan guarantees Infectious and parasitic diseases Small business Wages and earnings Commerce 00 2020-07-23 Introduced in House 2020-08-19T12:30:46Z Microbusiness Improvement and Coronavirus Recovery Opportunities for Business Success Act of 2020 or the MICRO Business Success Act

This bill provides designated Small Business Administration (SBA) assistance for small businesses with 10 or fewer employees.

Specifically, out of the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), the bill allots $20 billion of remaining program funds for small businesses with 10 or fewer employees.

Additionally, the bill raises the aggregate amount for SBA loans to such small businesses from $6 million to $10 million. The bill adds the expansion of such small businesses to the list of economic development objectives from which a small business development company must demonstrate at least one in order to qualify for SBA assistance. It also requires a participating small business development company to provide specified assistance to such small businesses.

]]> MICRO Business Success Act Display Title MICRO Business Success Act Short Title(s) as Introduced MICRO Business Success Act Introduced in House IH Short Title(s) as Introduced Microbusiness Improvement and Coronavirus Recovery Opportunities for Business Success Act of 2020 Introduced in House IH Official Title as Introduced To prioritize support for small business concerns with 10 or fewer employees by setting aside funds and increasing access to funding and other assistance, and for other purposes. Introduced in House IH Introduced in House 2020-07-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7740ih/xml/BILLS-116hr7740ih.xml 2020-07-23 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.