3.0.0 3814 2023-01-11T13:42:37Z 2023-01-11T13:42:37Z Senate S 2020-05-21 116 sssb00 Small Business and Entrepreneurship Committee Senate Standing Hearings by 2020-12-10T15:00:01Z Hearings by 2020-06-03T19:24:32Z ssfi00 Finance Committee Senate Standing Referred to 2020-05-21T19:29:48Z RESTART Act 116 7481 HR 2020-07-02 Referred to the Committee on Small Business, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS 2020-12-10 sssb00 Small Business and Entrepreneurship Committee Senate Committee on Small Business and Entrepreneurship. Hearings held. Committee 2020-06-03 sssb00 Small Business and Entrepreneurship Committee Senate Committee on Small Business and Entrepreneurship. Hearings held. Committee 2020-05-21 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-05-21 Introduced in Senate IntroReferral 10000 9 Library of Congress B001267 Sen. Bennet, Michael F. [D-CO] Michael Bennet D CO N Y000064 Sen. Young, Todd [R-IN] Todd Young R IN C. 2020-05-21 True K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. 2020-06-30 False C001096 Sen. Cramer, Kevin [R-ND] Kevin Cramer R ND 2020-06-30 False G000562 Sen. Gardner, Cory [R-CO] Cory Gardner R CO 2020-07-01 False T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2020-07-01 False R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2020-07-01 False E000295 Sen. Ernst, Joni [R-IA] Joni Ernst R IA 2020-07-01 False T000476 Sen. Tillis, Thomas [R-NC] Thomas Tillis R NC Roland 2020-07-01 False M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2020-07-01 False B000575 Sen. Blunt, Roy [R-MO] Roy Blunt R MO 2020-07-01 False K000384 Sen. Kaine, Tim [D-VA] Timothy Kaine D VA M. 2020-07-01 False F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2020-07-21 False P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2020-07-21 False B001243 Sen. Blackburn, Marsha [R-TN] Marsha Blackburn R TN 2020-07-21 False C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2020-07-21 False D000618 Sen. Daines, Steve [R-MT] Steve Daines R MT 2020-07-21 False D000622 Sen. Duckworth, Tammy [D-IL] Tammy Duckworth D IL 2020-07-21 False B001135 Sen. Burr, Richard [R-NC] Richard Burr R NC Mauze 2020-07-22 False G000359 Sen. Graham, Lindsey [R-SC] Lindsey Graham R SC 2020-07-22 False S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2020-07-22 False K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2020-07-22 False B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2020-07-22 False R000608 Sen. Rosen, Jacky [D-NV] Jacklyn Rosen D NV 2020-07-22 False R000307 Sen. Roberts, Pat [R-KS] PAT ROBERTS R KS 2020-07-22 False A000360 Sen. Alexander, Lamar [R-TN] Lamar Alexander R TN 2020-07-22 False R000615 Sen. Romney, Mitt [R-UT] Mitt Romney R UT 2020-07-22 False H001079 Sen. Hyde-Smith, Cindy [R-MS] Cindy Hyde-Smith R MS 2020-07-23 False C001056 Sen. Cornyn, John [R-TX] John Cornyn R TX 2020-07-23 False C001113 Sen. Cortez Masto, Catherine [D-NV] Catherine Cortez Masto D NV 2020-07-23 False S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2020-07-23 False W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2020-07-23 False C001095 Sen. Cotton, Tom [R-AR] Tom Cotton R AR 2020-07-23 False H001046 Sen. Heinrich, Martin [D-NM] Martin Heinrich D NM T. 2020-07-23 False G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2020-07-23 False M001153 Sen. Murkowski, Lisa [R-AK] Lisa Murkowski R AK 2020-07-23 False B001288 Sen. Booker, Cory A. [D-NJ] Cory Booker D NJ 2020-07-23 False S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN 2020-07-27 False W000437 Sen. Wicker, Roger F. [R-MS] Roger Wicker R MS F. 2020-07-27 False B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2020-07-27 False S001198 Sen. Sullivan, Dan [R-AK] Dan Sullivan R AK 2020-07-27 False D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2020-07-28 False S001191 Sen. Sinema, Kyrsten [D-AZ] Kyrsten Sinema D AZ 2020-07-28 False C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2020-07-29 False I000024 Sen. Inhofe, James M. [R-OK] Jim Inhofe R OK 2020-07-30 False B001236 Sen. Boozman, John [R-AR] John Boozman R AR 2020-08-03 False M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2020-08-03 False M000133 Sen. Markey, Edward J. [D-MA] Edward Markey D MA J. 2020-08-04 False M001169 Sen. Murphy, Christopher [D-CT] Christopher Murphy D CT S. 2020-08-05 False S000320 Sen. Shelby, Richard C. [R-AL] Richard Shelby R AL C. 2020-08-06 False H001075 Sen. Harris, Kamala D. [D-CA] Kamala Harris D CA D. 2020-08-06 False V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2020-08-06 False M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2020-08-12 False L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2020-08-13 False M001183 Sen. Manchin, Joe, III [D-WV] Joseph Manchin D WV 2020-09-08 False P000449 Sen. Portman, Rob [R-OH] Rob Portman R OH 2020-09-10 False H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH 2020-09-17 False P000612 Sen. Perdue, David [R-GA] David Perdue R GA Alfred 2020-11-30 False W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2020-12-03 False M000934 Sen. Moran, Jerry [R-KS] Jerry Moran R KS 2020-12-11 False Commerce Bank accounts, deposits, capital Banking and financial institutions regulation Bankruptcy Business expenses Cardiovascular and respiratory health Credit and credit markets Emergency medical services and trauma care Government information and archives Government lending and loan guarantees Health technology, devices, supplies Infectious and parasitic diseases Interest, dividends, interest rates Minority and disadvantaged businesses Public utilities and utility rates Rural conditions and development Small business Social work, volunteer service, charitable organizations Tax-exempt organizations Veterans' education, employment, rehabilitation Veterans' loans, housing, homeless programs Wages and earnings Women in business Worker safety and health Commerce 00 2020-05-21 Introduced in Senate 2020-08-03T17:27:01Z Reviving the Economy Sustainably Towards A Recovery in Twenty-twenty Act or the RESTART Act

This bill extends the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), for certain businesses, and it establishes a loan program whereby the Small Business Administration (SBA) shall guarantee loan amounts to certain businesses affected by COVID-19.

Specifically, the bill provides a paycheck protection loan recipient with 16 weeks to use such funds if the recipient has (1) less than 500 full-time employees, and (2) suffered a decline in revenues of at least 25%.

The bill also establishes a loan program whereby the SBA shall guarantee 100% of program loan amounts made to certain small businesses that have not more than 5,000 full-time employees. The terms for such loans shall include (1) a maximum duration of not more than seven years; (2) an amount that is not greater than 45% of 2019 gross receipts, up to $12 million; and (3) no payment on principal for the first two years of the loan.

A lender that is otherwise approved to make paycheck protection loans may make and approve loans established by the bill, and a recipient may use loan funds for specified allowable expenses including payroll costs, rent, utilities, and personal protective equipment.

Such loans may be forgiven up to the amount of total losses incurred by the recipient in the taxable year 2020.

]]> RESTART Act Display Title RESTART Act Short Title(s) as Introduced RESTART Act Introduced in Senate IS Short Title(s) as Introduced Reviving the Economy Sustainably Towards A Recovery in Twenty-twenty Act Introduced in Senate IS Official Title as Introduced A bill to establish a loan program for businesses affected by COVID-19 and to extend the loan forgiveness period for paycheck protection program loans made to the hardest hit businesses, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-05-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3814is/xml/BILLS-116s3814is.xml 2020-12-10 Committee on Small Business and Entrepreneurship. Hearings held. 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.