Title: To specify the ineligibility requirements based on illegal activity or criminal record applicable to the Paycheck Protection Program and certain emergency relief programs under the CARES Act, and for other purposes.
Policy area: Commerce

Summary:
This bill extends to specified loan applicants certain eligibility requirements for participation in SBA programs that currently apply only to intermediaries (entities that borrow funds from the Small Business Administration to make loans to small businesses).
Specifically, the bill applies eligibility requirements for intermediaries that are based on illegal activity to any applicant for a loan under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6779 Introduced in House (IH)]

<DOC>






116th CONGRESS
  2d Session
                                H. R. 6779

To specify the ineligibility requirements based on illegal activity or 
   criminal record applicable to the Paycheck Protection Program and 
 certain emergency relief programs under the CARES Act, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 8, 2020

Ms. Ocasio-Cortez (for herself and Ms. Waters) introduced the following 
      bill; which was referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
To specify the ineligibility requirements based on illegal activity or 
   criminal record applicable to the Paycheck Protection Program and 
 certain emergency relief programs under the CARES Act, 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. TREATMENT OF CERTAIN MINOR, LOW-RISK CRIMINAL VIOLATIONS.

    Section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) 
is amended by adding at the end the following:
                    ``(T) Treatment of certain minor, low-risk criminal 
                violations.--
                            ``(i) In general.--The ineligibility 
                        requirements based on illegal activity 
                        applicable to intermediaries (as defined under 
                        subsection (m)(11)) in effect on the day before 
                        the date of enactment of this subparagraph 
                        shall apply to any person applying to receive a 
                        covered loan.
                            ``(ii) Updated rulemaking.--The 
                        Administrator shall update the interim final 
                        rule issued by the Administrator to carry out 
                        this paragraph to reflect the requirements of 
                        this subparagraph, and may not establish any 
                        additional ineligibility requirements for 
                        applicants based on illegal activity or 
                        criminal records other than those required by 
                        clause (i).''.
                                 <all>