To amend the Small Business Act to expand eligibility for the paycheck protection program, and for other purposes.

Bill: 116-hr-6475
Sponsor: full_name: Rep. Green, Al [D-TX-9]
Introduced: 2020-04-10
Policy area: Commerce
Subjects: Bank accounts, deposits, capital

Business expenses

Cardiovascular and respiratory health

Credit and credit markets

Emergency medical services and trauma care

Gambling

Government lending and loan guarantees

Infectious and parasitic diseases

Small business
Latest action: action_date: 2020-04-10
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2020-04-10
action_desc: Introduced in House
text: <p>This bill expands eligibility for the Paycheck Protection Program, through which the Small Business Administration may temporarily guarantee certain loans to small businesses during the COVID-19 (i.e., coronavirus disease 2019) pandemic, to include (1) financial businesses primarily engaged in the business of lending, and (2) legal gambling businesses.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6475 IN THE HOUSE OF REPRESENTATIVES April 10, 2020 Mr. Green of Texas introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to expand eligibility for the paycheck protection program, and for other purposes.

1. Eligibility of covered entities for the paycheck protection program (a) In general Section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ) is amended— (1) in subparagraph (A)— (A) in clause (viii), by striking and at the end; (B) in clause (ix), by striking the period at the end and inserting a semicolon; and (C) by adding at the end the following: (x) the term covered entity means— (I) financial businesses (as defined in section 120.110(b) of title 13, Code of Federal Regulations); and (II) legal gambling businesses (as described under section 120.110(g) of title 13, Code of Federal Regulations). ; and (2) in subparagraph (D), by inserting covered entity, after veterans organization, each place it appears.