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.

Bill: 116-hr-6779
Sponsor: full_name: Rep. Ocasio-Cortez, Alexandria [D-NY-14]
Introduced: 2020-05-08
Policy area: Commerce
Subjects: Administrative law and regulatory procedures

Business expenses

Cardiovascular and respiratory health

Criminal justice information and records

Emergency medical services and trauma care

Government lending and loan guarantees

Infectious and parasitic diseases

Small Business Administration

Small business

Wages and earnings
Latest action: action_date: 2020-05-08
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2020-05-08
action_desc: Introduced in House
text: <p>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).</p> <p>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).</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6779 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.

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). .