Loan Interest Forgiveness for Taxpayers Under a Pandemic Act of 2020 or the LIFT UP Act
This bill modifies specified debt relief made available to small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the Small Business Administration must pay the principal, interest, and any associated fees that are owed on certain disaster loans made to small businesses prior and unrelated to COVID-19 for a six-month period.