I 

116TH CONGRESS 

2D SESSION H. R. 7093 

To require the Administrator of the Small Business Administration to report 

on covered loans made under the paycheck protection program, and 

for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 4, 2020 

Ms. DAVIDS of Kansas (for herself and Mr. KIM) introduced the following bill; 

which was referred to the Committee on Small Business 

A BILL 

To require the Administrator of the Small Business Administration to report on covered loans made under the paycheck protection program, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘PPP Accountability 

5 Act’’. 

6 SEC. 2. REPORTS ON THE PAYCHECK PROTECTION PRO7 GRAM. 

8 (a) DISCLOSURE OF TRANSACTIONS.—Not later than 

9 7 days from the date of enactment of this Act, and not 


pbinns on DSKJLVW7X2PROD with BILLS
2 

•HR 7093 IH

1 later than 72 hours after any guarantee for a covered loan 

2 (as defined under section 7(a)(36) of the Small Business 

3 Act) is made by the Administrator of the Small Business 

4 Administration subsequent to the enactment of this Act, 

5 the Administrator shall publish on a website of the Small 

6 Business Administration information on such covered 

7 loans. The information shall include— 

8 (1) the identity of the recipient of the covered 

9 loan, including the name of the recipient, location, 

10 and industry sector in which the recipient operates; 

11 and 

12 (2) the amount of the covered loan, the date of 

13 the covered loan approval, and identity of the lender. 

14 (b) DISCLOSURE OF FORGIVENESS.—Not later than 

15 72 hours after the Administrator remits the appropriate 

16 forgiveness amount to the lender under 1106(c)(3) of the 

17 CARES Act (Public Law 116–136), the Administrator 

18 shall publish on a website of the Small Business Adminis19 tration, along with the disclosure required under sub20 section (a)— 

21 (1) the amount of such forgiveness and the date 

22 of approval of such forgiveness; and 

23 (2) the number of employees who received pay24 ments of any compensation described in section 

25 7(a)(36)(A)(viii)(I) of the Small Business Act from 


pbinns on DSKJLVW7X2PROD with BILLS
3 

•HR 7093 IH

1 proceeds of such covered loan, and the duration for 

2 which each such employee received any such pay3 ment. 

4 (c) EXEMPTION FROM DISCLOSURE.—Subsections 

5 (a) and (b) shall not apply to a covered loan in an amount 

6 less than $1,000,000. 

7 (d) REPORT TO CONGRESS.— 

8 (1) IN GENERAL.—Not later than 1 week after 

9 the date of enactment of this Act, and every week 

10 thereafter until the last day of the covered period 

11 (as defined in section 7(a)(36)(A) of the Small Busi12 ness Act), the Administrator shall submit to the 

13 Committees on Banking, Housing, and Urban Af14 fairs and Small Business and Entrepreneurship of 

15 the Senate and the Committees on Financial Serv16 ices and Small Business of the House of Representa17 tives a report on covered loans made under section 

18 that includes— 

19 (A) an overview of such actions taken by 

20 the Administrator during the period covered by 

21 the report; and 

22 (B) a detailed financial statement with re23 spect to covered loans made under section 

24 7(a)(36) of the Small Business Act, including 

25 the number, amount, and balances of all covVerDate Sep 11 2014 04:11 Jun 24, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H7093.IH H7093

pbinns on DSKJLVW7X2PROD with BILLS
4 

•HR 7093 IH

1 ered loans, covered loan payments, and status 

2 of forgiveness of each covered loan; and any 

3 sale of a covered loan on the secondary market. 

4 (2) PUBLICATION.—Not later than 7 days after 

5 the date on which the Administrator submits a re6 port required under paragraph (1), the Adminis7 trator shall publish such report on a website of the 

8 Small Business Administration. 

Æ 


pbinns on DSKJLVW7X2PROD with BILLS