[Congressional Record Volume 166, Number 140 (Thursday, August 6, 2020)]
[Senate]
[Page S5303]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2605. Mr. RUBIO submitted an amendment intended to be proposed to 
amendment SA 2499 proposed by Mr. McConnell to the bill S. 178, to 
condemn gross human rights violations of ethnic Turkic Muslims in 
Xinjiang, and calling for an end to arbitrary detention, torture, and 
harassment of these communities inside and outside China; which was 
ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. LIMIT ON PPP LOANS TO ENTITIES THAT ARE CONNECTED TO 
                   THE PEOPLE'S REPUBLIC OF CHINA.

       Section 7(a)(36)(A)(iv) of the Small Business Act (15 
     U.S.C. 636(a)(36)(A)(iv)) is amended to read as follows:
       ``(iv) the term `eligible recipient'--

       ``(I) means an individual or entity that is eligible to 
     receive a covered loan; and
       ``(II) does not include any business concern or entity--

       ``(aa) for which an entity created in or organized under 
     the laws of the People's Republic of China or the Special 
     Administrative Region of Hong Kong, or that has significant 
     operations in the People's Republic of China or the Special 
     Administrative Region of Hong Kong, owns or holds, directly 
     or indirectly, not less than 20 percent of the economic 
     interest of the business concern or entity, including as 
     equity shares or a capital or profit interest in a limited 
     liability company or partnership; or
       ``(bb) that retains, as a member of the board of directors 
     of the business concern, a person who is a resident of the 
     People's Republic of China;''.
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