Transparency and Oversight of COVID–19 Small Business Assistance Act
Latest action · May 5, 2020 Read twice and referred to the Committee on Small Business and Entrepreneurship.
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 5, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Transparency and Oversight of COVID-19 Small Business Assistance Act
This bill requires the Small Business Administration (SBA) to report specified data on economic relief programs implemented in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the SBA must
- daily report the total number and dollar amount of loans or grants approved and disbursed under programs such as the paycheck protection program and the emergency grants program;
- daily report the amount of remaining authority and funds appropriated for such programs and an estimate of the date on which such funds will be depleted;
- weekly report the number and dollar amount of certain program loans and loan payments disaggregated by specified metrics such as geography, demographics, loan sizes, industry, and lender type;
- report on the number of employees expected to be retained by borrowers of certain loans as a result of economic relief programs;
- report its plans to carry out specified relief programs and identify and prevent waste, fraud, and abuse in such programs;
- request certain information such as demographic and job information when a borrower applies for loan forgiveness; and
- make each required report publicly available and take all necessary steps to protect sensitive personally identifiable information.
The Government Accountability Office must report specified information, including (1) the effectiveness of certain programs in reaching underserved businesses, (2) a review of the reports required to be published under this bill, and (3) the impact of certain relief programs on jobs.
Cosponsors 6
Members who signed on, in the order they did. Signatures ran from May 5, 2020 to Jun 15, 2020; 5 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Charles E. Schumer | Original | May 5, 2020 |
| D-RI | Jack Reed | Original | May 5, 2020 |
| D-NH | Jeanne Shaheen | Original | May 5, 2020 |
| D-WV | Joe Manchin III | Original | May 5, 2020 |
| D-OH | Sherrod Brown | Original | May 5, 2020 |
| D-OR | Ron Wyden | Jun 15, 2020 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Small Business and Entrepreneurship Committee | Referred May 5, 2020 |
Actions 2
Everything that happened, newest first.
- May 5, 2020Introduced in Senate
- May 5, 2020Read twice and referred to the Committee on Small Business and Entrepreneurship.
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S2533–S2535 | Benjamin L. Cardin D-MD | May 20, 2020 |
| Senate | Debate and remarks S2227, S2232–S2235 | Benjamin L. Cardin D-MD, Charles E. Schumer D-NY, Jeanne Shaheen D-NH, Marco Rubio R-FL, Richard Blumenthal D-CT | May 5, 2020 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to require the Administrator of the Small Business Administration to report on COVID-19 recovery small business programs, and for other purposes.
- Short Title(s) as Introduced
- Transparency and Oversight of COVID–19 Small Business Assistance Act
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
- Appropriations
- Business expenses
- Cardiovascular and respiratory health
- Commerce
- Congressional oversight
- Disaster relief and insurance
- Economic performance and conditions
- Emergency medical services and trauma care
- Fraud offenses and financial crimes
- Government information and archives
- Government lending and loan guarantees
- Government studies and investigations
- Infectious and parasitic diseases
- Military personnel and dependents
- Minority and disadvantaged businesses
- Rural conditions and development
- Small business
- Veterans' education, employment, rehabilitation
- Veterans' loans, housing, homeless programs
- Wages and earnings
- Women in business
Text 1
Each version as it was printed, newest first.
- May 5, 2020Introduced in Senate
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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
