Expanding Assistance to Farmers Act of 2020

Bill: 116-hr-7619
Sponsor: full_name: Rep. Bishop, Dan [R-NC-9]
Introduced: 2020-07-16
Policy area: Commerce
Subjects: Agricultural equipment and machinery

Agricultural prices, subsidies, credit

Business expenses

Cardiovascular and respiratory health

Emergency medical services and trauma care

Government lending and loan guarantees

Infectious and parasitic diseases

Small business

Wages and earnings
Latest action: action_date: 2020-07-16
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2020-07-16
action_desc: Introduced in House
text: <p><b>Expanding Assistance to Farmers Act of 2020</b></p> <p>This bill expands allowable uses and forgivable expenses for amounts provided under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to include certain property rental payments made by an agricultural enterprise. Such rental payments must be made on property that is used solely for the agricultural enterprise and shall include equipment (e.g., tractors, combines, and planters), land, and buildings.</p>

tv_txt: I 116th CONGRESS 2d Session H. R. 7619 IN THE HOUSE OF REPRESENTATIVES July 16, 2020 Mr. Bishop of North Carolina (for himself and Ms. Finkenauer ) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act and the CARES Act to include rental payments for certain business-related items in the paycheck protection program, and for other purposes.

1. Short title This Act may be cited as the Expanding Assistance to Farmers Act of 2020 . 2. Inclusion of rental payments on certain business-related items in the paycheck protection program (a) Paycheck protection program Section 7(a)(36)(F)(i) of the Small Business Act ( 15 U.S.C. 636(a)(36)(F)(i) ) is amended— (1) in subclause (VI), by striking and at the end; (2) in subclause (VII), by striking the period at the end and inserting ; and ; and (3) by adding at the end the following new subclause: (VIII) rental payments made by an agricultural enterprise (as defined in section 18(b)) on property used solely for such agricultural enterprise, which shall include payments for equipment (including tractors, combines, forage harvesters, planters, sprayers, hay rakes and wagons, field equipment, irrigation equipment, tools, and supplies), land, and buildings. . (b) Forgiveable expenses (1) Covered rental payments made by an agricultural enterprise Section 1106(a) of the CARES Act ( Public Law 116–136 ) is amended— (A) in paragraph (7)(D), by striking and at the end; (B) in paragraph (8), by striking the period at the end and inserting ; and ; and (C) by adding at the end the following new paragraph: (9) the term covered rental payments made by an agricultural enterprise means rental payments made pursuant to an agreement in force before February 15, 2020, by an agricultural enterprise (as defined in section 18(b) the Small Business Act ( 15 U.S.C. 647(b) ) on property used solely for such agricultural enterprise, which shall include payments for equipment (including tractors, combines, forage harvesters, planters, sprayers, hay rakes and wagons, field equipment, irrigation equipment, tools, and supplies), land, and buildings. . (2) Definition of expected forgiveness amount Section 1106(a)(7) of the CARES Act ( Public Law 116–136 ) is amended— (A) in subparagraph (C), by striking and at the end; and (B) by adding at the end the following new subparagraph: (E) covered rental payments made by an agricultural enterprise; and . (3) Forgiveness Section 1106(b) of the CARES Act ( Public Law 116–136 ) is amended by adding at the end the following new paragraphs: (5) Covered rental payments made by an agricultural enterprise. . (4) Conforming amendments Section 1106 of the CARES Act ( Public Law 116–136 ) is amended— (A) in subsection (e)— (i) in paragraph (2), by striking payments on covered mortgage obligations, payments on covered lease obligations, and covered utility payments and inserting payments described under subsection (b) (other than payroll costs) ; and (ii) in paragraph (3)(B), by striking , make interest payments and all that follows through or make covered utility payments and inserting or make payments described under subsection (b) ; and (B) in subsection (h), by striking payments for payroll costs, payments on covered mortgage obligations, payments on covered lease obligations, or covered utility payments each place it appears and inserting payments described under subsection (b) . (5) Technical amendment Section 1106 of the CARES Act ( Public Law 116–136 ), is amended by striking covered lease each place such term appears and inserting covered rent .