Remote Recreational Small Business Interruption Program Act
Latest action · Sep 10, 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.
- IntroducedSep 10, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Remote Recreational Small Business Interruption Program Act
This bill requires the Small Business Administration (SBA) to establish a program to make forgivable loans to certain remote recreational businesses that are impacted by border closures due to COVID-19 (i.e., coronavirus disease 2019).
Eligible remote recreational businesses must (1) have experienced a loss in revenue that is greater than 50% between March 1, 2020, and July 1, 2020, as compared with the same period in the previous year; and (2) show that the closure of the U.S.-Canada border restricted the ability of American customers to access the location of such businesses.
The maximum loan amount shall be equal to 75% of the business's FY2019 revenue, and the SBA shall forgive 100% of the value of such loan, less the amount the borrower received from (1) any other loan forgiveness program, or (2) any emergency advance under the economic impact disaster loan program.
Cosponsors 2
Members who signed on, in the order they did. All signed on Sep 10, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Amy Klobuchar | Original | Sep 10, 2020 |
| D-WA | Patty Murray | Original | Sep 10, 2020 |
Actions 2
Everything that happened, newest first.
- Sep 10, 2020Introduced in Senate
- Sep 10, 2020Read twice and referred to the Committee on Small Business and Entrepreneurship.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 7845 | Remote Recreational Small Business Interruption Program | Related bill | Jul 29, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 1
Each version as it was printed, newest first.
- Sep 10, 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.
