[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6331 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 6331

  To require the Board of Governors of the Federal Reserve System to 
   establish a credit facility to provide loans to small businesses, 
      including small family farms, during the COVID-19 emergency.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 23, 2020

 Mrs. Beatty introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To require the Board of Governors of the Federal Reserve System to 
   establish a credit facility to provide loans to small businesses, 
      including small family farms, during the COVID-19 emergency.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SMALL BUSINESS CREDIT FACILITY.

    (a) Establishment.--The Board of Governors of the Federal Reserve 
System shall establish a credit facility to provide loans to small 
businesses during the COVID-19 emergency.
    (b) Definitions.--In this section:
            (1) COVID-19 emergency.--The term ``COVID-19 emergency'' 
        means the period that begins upon the date of the enactment of 
        this Act and ends on the date of the termination by the Federal 
        Emergency Management Agency of the emergency declared on March 
        13, 2020, by the President under the Robert T. Stafford 
        Disaster Relief and Emergency Assistance Act (42 U.S.C. 4121 et 
        seq.) relating to the Coronavirus Disease 2019 (COVID-19) 
        pandemic.
            (2) Small business.--The term ``small business'' means--
                    (A) a small business concern (as defined under 
                section 3 of the Small Business Act (15 U.S.C. 632);
                    (B) a family farm; and
                    (C) an independent contractor.
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