To establish a payroll loan facility for small financial institutions affected by COVID-19, and for other purposes.
Latest action · May 12, 2020 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 12, 2020
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
This bill provides specified funds to the Department of the Treasury to establish a payroll loan facility that provides loans to small financial institutions. These loans must offer, to the maximum extent practicable, benefits and assistance similar to the Paycheck Protection Program created in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic. Treasury must also establish a loan forgiveness program for these loans.
Cosponsors 3
Members who signed on, in the order they did. Signatures ran from May 12, 2020 to Jun 8, 2020, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-GA | David Scott | Original | May 12, 2020 |
| D-MO | Emanuel Cleaver | Original | May 12, 2020 |
| D-NY | Gregory W. Meeks | Jun 8, 2020 |
Actions 2
Everything that happened, newest first.
- May 12, 2020Introduced in House
- May 12, 2020Referred to the House Committee on Financial Services.
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Appropriations
- Banking and financial institutions regulation
- Cardiovascular and respiratory health
- Department of the Treasury
- Emergency medical services and trauma care
- Executive agency funding and structure
- Finance and Financial Sector
- Government lending and loan guarantees
- Infectious and parasitic diseases
- Minority and disadvantaged businesses
- Rural conditions and development
- Small business
- Wages and earnings
Text 1
Each version as it was printed, newest first.
- May 12, 2020Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.