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[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7845 Introduced in House (IH)]

<DOC>

116th CONGRESS
  2d Session
                                H. R. 7845

  To direct the Administrator of the Small Business Administration to 
establish a forgivable loan program for remote recreational businesses, 
                        and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             July 29, 2020

 Mr. Peterson introduced the following bill; which was referred to the 
                      Committee on Small Business

_______________________________________________________________________

                                 A BILL

 
  To direct the Administrator of the Small Business Administration to 
establish a forgivable loan program for remote recreational businesses, 
                        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. SHORT TITLE.

    This Act may be cited as the ``Remote Recreational Small Business 
Interruption Program''.

SEC. 2. FORGIVABLE LOAN PROGRAM FOR REMOTE RECREATIONAL BUSINESSES.

    (a) In General.--The Administrator shall establish a program to 
make forgivable loans available to remote recreational businesses that 
experienced a loss in revenue that is greater than 50 percent during 
the period between March 1, 2020, and July 1, 2020, as compared with 
the same period during previous year.
    (b) Eligibility.--To be eligible for a forgivable loan, a remote 
recreational business must--
            (1) have been in operation on March 1, 2020; and
            (2) show that the closure of the United States and Canadian 
        border restricted the ability of American customers to access 
        the location of the remote recreational business.
    (c) Loan Amount.--The maximum loan amount shall be equal to 75 
percent of the remote recreational gross annual receipts for fiscal 
year 2019.
    (d) Forgiveness.--Not later than 1 calendar year from the date of 
enactment of this Act, the Administrator shall forgive 100 percent of 
the value of a loan received less the amount the borrower received 
from--
            (1) any other loan forgiveness program, including any 
        program established under the CARES Act (Public Law 116-136); 
        and
            (2) an advance received under section 1110 of the CARES Act 
        (15 U.S.C. 9009).

SEC. 3. DEFINITIONS.

    In this Act:
            (1) Administrator.--The term ``Administrator'' means the 
        Administrator of the Small Business Administration.
            (2) Administration.--The term ``remote recreational 
        business'' means a business in the contiguous United States 
        that is--
                    (A) a small business concern (as defined under 
                section 3 of the Small Business Act (15 U.S.C. 632)) 
                operating in the recreational industry;
                    (B) located within 75 miles of the United States 
                and Canadian border; and
                    (C) is only accessible by land via Canada.
                                 <all>
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