[Congressional Record Volume 169, Number 187 (Monday, November 13, 2023)]
[Extensions of Remarks]
[Pages E1094-E1095]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    INTRODUCTION OF THE BUSINESS UNINTERRUPTED MONETARY PROGRAM ACT

                                 ______
                                 

                          HON. J. LUIS CORREA

                             of california

                    in the house of representatives

                       Monday, November 13, 2023

  Mr. CORREA. Mr. Speaker, I rise today to introduce the Business 
Uninterrupted Monetary Program Act of 2023 (BUMP Act). This crucial 
piece of legislation provides essential funding to businesses and 
nonprofits that have been directly and measurably fInancially impacted 
by major transportation projects, with the goal of keeping them 
solvent.
  With major transit and highway projects planned across the country, 
the livelihoods and survival of some local businesses may be at risk 
because of construction disruptions that impede customers' access to 
their store fronts.

[[Page E1095]]

In my own district, on the heels of closures caused by the COVID 
pandemic, a major transit project prevented customers from accessing 
stores in downtown Santa Ana, CA for months. Many of those businesses 
struggled to pay their rent and utility bills, pay for their inventory, 
and some had to close permanently as a result. Efforts to help the 
businesses, such as signage, failed. What they needed were financial 
resources. What happened in my district can happen anywhere in America, 
in any downtown. We can and need to do more to minimize the economic 
damage inflicted on local businesses from projects that receive federal 
transportation monies.
  The legislation will require local sponsors to create a BUMP fund 
that provides financial assistance for local entities that will 
experience a measurable interruption causing negative financial impact 
from the project. The fund can cover utilities, insurance, rent or 
mortgage, payroll, loss of income, and any other expense that the 
sponsor determines is needed for the impacted businesses. Importantly, 
the local sponsors who know the local community and best understand the 
impacts of the project create and manage the BUMP fund. The local 
sponsor further determines how much to contribute to the fund, how the 
fund is structured, which entities are eligible for funding, and what 
type of expenses should be covered.
  The requirement to create a BUMP fund only applies to highway 
projects with a total cost equal or greater than $50 million and 
transit projects with a total cost equal or greater to $100 million 
with measurable negative financial impacts on local businesses and 
nonprofits. The bill also creates a one-time grant opportunity for 
businesses and nonprofits that are currently struggling financially 
from an interruption created by a major transportation project.
  It is important to America's economy that local businesses can 
continue to serve our communities after completion of transportation 
projects. I am introducing this legislation to make sure no other 
business is forced to face financial turmoil or close due to an 
interruption caused by a major transportation project. I hope my 
colleagues will join me in supporting this crucial initiative, allowing 
our Nation's vibrant local economies to stay afloat during the 
construction of major infrastructure projects and reap the benefits of 
these transit and highway projects upon their completion.

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