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[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 3992 Introduced in Senate (IS)]

<DOC>

116th CONGRESS
  2d Session
                                S. 3992

  To amend the Small Business Act to provide that certain chambers of 
commerce and destination marketing organizations are eligible for loans 
     under the paycheck protection program, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             June 17, 2020

  Mr. Cruz (for himself, Mr. Scott of South Carolina, and Mr. Rubio) 
introduced the following bill; which was read twice and referred to the 
            Committee on Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL

 
  To amend the Small Business Act to provide that certain chambers of 
commerce and destination marketing organizations are eligible for loans 
     under the paycheck protection program, and for other purposes.

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

SECTION 1. ELIGIBILITY FOR CHAMBERS OF COMMERCE AND DESTINATION 
              MARKETING ORGANIZATIONS FOR LOANS UNDER THE PAYCHECK 
              PROTECTION PROGRAM.

    Section 7(a)(36)(D) of the Small Business Act (15 U.S.C. 
636(a)(36)(D)) is amended--
            (1) in clause (v), by inserting ``or whether an entity 
        described in clause (vii) employs not more than 300 
        employees,'' after ``clause (i)(I),''; and
            (2) by adding at the end the following:
                            ``(vii) Eligibility for certain chambers of 
                        commerce and destination marketing 
                        organizations.--
                                    ``(I) In general.--During the 
                                covered period--
                                            ``(aa) any chamber of 
                                        commerce that is described in 
                                        section 501(c)(6) of the 
                                        Internal Revenue Code and that 
                                        is exempt from taxation under 
                                        section 501(a) of such Code 
                                        shall be eligible to receive a 
                                        covered loan if the chamber of 
                                        commerce employs not more than 
                                        300 employees; and
                                            ``(bb) any destination 
                                        marketing organization shall be 
                                        eligible to receive a covered 
                                        loan if the destination 
                                        marketing organization employs 
                                        not more than 300 employees 
                                        and--

                                                    ``(AA) is described 
                                                in section 501(c) of 
                                                the Internal Revenue 
                                                Code and is exempt from 
                                                taxation under section 
                                                501(a) of such Code; or

                                                    ``(BB) is a quasi-
                                                governmental entity or 
                                                is a political 
                                                subdivision of a State 
                                                or local government, 
                                                including any 
                                                instrumentality of 
                                                those entities.

                                    ``(II) Rule of construction.--
                                Nothing in this clause shall be 
                                construed to provide eligibility for 
                                trade associations for covered 
                                loans.''.
                                 <all>
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