3.0.0 3554 2022-02-09T00:41:33Z 2022-02-09T00:41:33Z Senate S 2020-03-20 116 sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2020-03-20T19:36:33Z Unlocking Opportunities in Emerging Markets Act of 2020 116 7773 HR 2020-07-24 Referred to the House Committee on Small Business. Related bill CRS Small Contractor Stability Act of 2020 116 6320 HR 2020-03-23 Referred to the House Committee on Small Business. Related bill CRS Microloan Emergency Assistance Act of 2020 116 6291 HR 2020-03-19 Referred to the House Committee on Small Business. Related bill CRS Increasing Access to Capital Act of 2020 116 6303 HR 2020-03-19 Referred to the House Committee on Small Business. Related bill CRS Easing Disruption for America’s Small Contractor Act of 2020 116 6307 HR 2020-03-19 Referred to the House Committee on Small Business. Related bill CRS Unlocking Opportunities in Emerging Markets Act of 2019 116 2360 S 2019-07-31 Read twice and referred to the Committee on Small Business and Entrepreneurship. (Sponsor introductory remarks on measure: CR S5252-5253) Related bill CRS UPLIFT Act of 2019 116 2717 S 2019-10-28 Read twice and referred to the Committee on Small Business and Entrepreneurship. Related bill CRS COVID–19 Recovery Grants for Small Businesses Act 116 3518 S 2020-03-18 Read twice and referred to the Committee on Small Business and Entrepreneurship. Related bill CRS 2020-03-20 sssb00 Small Business and Entrepreneurship Committee Senate Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2020-03-20 Introduced in Senate IntroReferral 10000 9 Library of Congress C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD N C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA 2020-03-20 True S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2020-03-20 True M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2020-03-20 True B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2020-03-20 True C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2020-03-20 True H001042 Sen. Hirono, Mazie K. [D-HI] Mazie Hirono D HI K. 2020-03-20 True D000622 Sen. Duckworth, Tammy [D-IL] Tammy Duckworth D IL 2020-03-20 True R000608 Sen. Rosen, Jacky [D-NV] Jacklyn Rosen D NV 2020-03-20 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2020-03-22 False Commerce Accounting and auditing Administrative law and regulatory procedures Advanced technology and technological innovations Agricultural marketing and promotion Appropriations Bank accounts, deposits, capital Business education Business investment and capital Buy American requirements Cardiovascular and respiratory health Commuting Competitiveness, trade promotion, trade deficits Computers and information technology Congressional oversight Disability and paralysis Disaster relief and insurance Economic development Economic performance and conditions Emergency medical services and trauma care Employee benefits and pensions Employee hiring Employee leave Employment taxes Executive agency funding and structure Federal officials Government employee pay, benefits, personnel management Government information and archives Government lending and loan guarantees Government studies and investigations Industrial facilities Infectious and parasitic diseases Interest, dividends, interest rates Manufacturing Military personnel and dependents Minority and disadvantaged businesses National Guard and reserves Public contracts and procurement Research and development Right of privacy Rural conditions and development Sales and excise taxes Small Business Administration Small business Social work, volunteer service, charitable organizations State and local government operations State and local taxation Tax administration and collection, taxpayers Technology transfer and commercialization User charges and fees Veterans' education, employment, rehabilitation Veterans' loans, housing, homeless programs Wages and earnings Women in business Commerce 00 2020-03-20 Introduced in Senate 2020-04-15T15:24:22Z COVID-19 Recovery by Enhancing Loan, Investment, and Education Funds for Small Businesses Act of 2020 or the COVID-19 RELIEF for Small Businesses Act of 2020

This bill establishes measures to provide assistance to small businesses impacted by COVID-19 (i.e., coronavirus disease 2019).

Specifically, the Small Business Administration (SBA) must (1) provide economic injury grants for certain small businesses that have suffered substantial economic injury resulting from COVID-19; (2) establish a program to make direct loans to small businesses, up to 50% of which may be forgiven; and (3) pay the principal, interest, and associated fees on certain SBA loans, including microloans, for a six-month period.

The bill also

  • temporarily increases guarantee amounts and loan sizes for certain SBA loans, temporarily waives or reduces certain fees on SBA loans, and permanently waives the guarantee fee on SBA loans for veterans;
  • revises the Microloan Program to increase available funds, extend repayment terms, and waive certain requirements for technical assistance grants;
  • provides additional funding for small business economic development programs;
  • revises and makes permanent the SBA's Intermediary Lending Program, the Community Advantage Loan Program, the Small Business Innovation Research Program, and the Small Business Technology Transfer Program;
  • establishes the Innovation Centers Program whereby the SBA shall enter into cooperative agreements with certain entities to spur innovation and economic growth in underserved and rural communities; and
  • establishes the Office of Emerging Markets to oversee the planning, coordination, and implementation of SBA efforts to enhance the economic well-being of small businesses in emerging markets.

The federal government must grant certain flexibilities (e.g., additional performance time) to small business federal contractors and expedite the contract award process.

]]> COVID–19 RELIEF for Small Businesses Act of 2020 Display Title COVID–19 RELIEF for Small Businesses Act of 2020 Short Title(s) as Introduced COVID–19 RELIEF for Small Businesses Act of 2020 Introduced in Senate IS Short Title(s) as Introduced COVID–19 Recovery by Enhancing Loan, Investment, and Education Funds for Small Businesses Act of 2020 Introduced in Senate IS Official Title as Introduced A bill to provide assistance to small businesses impacted by COVID-19, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-03-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3554is/xml/BILLS-116s3554is.xml 2020-03-20 Read twice and referred to the Committee on Small Business and Entrepreneurship. 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.