Small Business Disaster Relief Equity Act of 2020

Bill: 116-s-4689
Sponsor: full_name: Sen. Wyden, Ron [D-OR]
Introduced: 2020-09-24
Policy area: Commerce
Subjects: Business expenses

Cardiovascular and respiratory health

Disaster relief and insurance

Drug trafficking and controlled substances

Emergency medical services and trauma care

Government lending and loan guarantees

Income tax credits

Income tax deductions

Infectious and parasitic diseases

Small business

Wages and earnings
Latest action: action_date: 2020-09-24
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2020-09-24
action_desc: Introduced in Senate
text: <p><b>Small Business Disaster Relief Equity Act of 2020</b></p> <p>This bill makes state-legal cannabis businesses eligible for disaster assistance, and it requires each agency that administers disaster assistance to allow these businesses to retroactively apply. Disaster assistance is any service, grant, loan, tax credit, tax deduction, or any other assistance that is made available in connection with (1) a federally declared disaster, or (2) specified COVID-19 (i.e., coronavirus disease 2019) relief programs.</p>

tv_txt: II 116th CONGRESS 2d Session S. 4689 IN THE SENATE OF THE UNITED STATES September 24, 2020 Mr. Wyden (for himself and Mr. Merkley ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To provide disaster assistance to cannabis businesses.

1. Short title This Act may be cited as the Small Business Disaster Relief Equity Act of 2020 . 2. Eligibility for Federal disaster assistance (a) Definitions In this Act: (1) Cannabis The term cannabis has the meaning given the term marihuana in section 102 of the Controlled Substances Act ( 21 U.S.C. 802 ). (2) Disaster assistance The term disaster assistance means any service, grant, loan (including loan forgiveness), tax credit, tax deduction, or any other assistance— (A) made available in connection with a federally declared disaster; or (B) made available in connection with the Families First Coronavirus Response Act ( Public Law 116–127 ; 134 Stat. 178), the CARES Act ( Public Law 116–136 ; 134 Stat. 281), the Paycheck Protection Program and Health Care Enhancement Act ( Public Law 116–139 ; 134 Stat. 620), the Paycheck Protection Program Flexibility Act of 2020 ( Public Law 116–142 ; 134 Stat. 641), or Public Law 116–147 . (3) State The term State means each of the several States, the District of Columbia, Puerto Rico, and any territory or possession of the United States. (4) State-legal cannabis business The term State-legal cannabis business means any person that— (A) participates in any business or organized activity that involves handling cannabis, including the manufacture, production, possession, distribution, dispensation, administration, or delivery of cannabis; and (B) engages in such activity pursuant to a law established by a State, a unit of local government, or an Indian Tribe that has jurisdiction over the Indian country in which the activity occurs. (b) Eligibility Notwithstanding any other provision of law, a State-legal cannabis business shall not be denied disaster assistance administered by a Federal agency solely because the business is involved in the manufacture, production, possession, distribution, dispensation, administration, or delivery of cannabis. (c) Application (1) In general In the case of disaster assistance described in subsection (a)(2)(A), this Act shall apply to any request for disaster assistance with respect to a Federal disaster declaration issued after December 31, 2019. (2) COVID–19 relief legislation In the case of disaster assistance described in subsection (a)(2)(B), this Act shall apply to any request for disaster assistance under an Act described in subsection (a)(2)(B). (3) Retroactive application for disaster assistance Notwithstanding any other provision of law or disaster assistance request deadline, the head of each agency that administers disaster assistance shall, to the greatest extent practicable, allow State-legal cannabis businesses to retroactively apply for such disaster assistance.