Local Chamber, Tourism, and 501(c)(6) Protection Act of 2020
This bill modifies the Paycheck Protection Program implemented by the Small Business Administration in response to COVID-19 (i.e., coronavirus disease 2019) to include certain entities and exclude certain individuals.
Specifically, the bill expands the program to encompass organizations with 300 or fewer employees that (1) operate under section 501(c)(6) of the Internal Revenue Code (other than a professional football league), or (2) are a destination marketing organization engaged in promoting communities and facilities to businesses and leisure travelers.
The bill also narrows the definition of payroll costs under the program to exclude any compensation of an employee who is a registered lobbyist from the calculation for loan amounts or for allowable uses of funds provided under the program.