To modify requirements relating to the participation of community development financial institutions in the paycheck protection program of the Small Business Administration, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 15, 2020)
This bill authorizes community development financial institutions to make loans under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
The bill also allows the Small Business Administration and the Department of the Treasury to revoke a lender's authority to make paycheck protection loans upon a joint determination that (1) the lender has had recent material operational shortcomings that warrant such a revocation, and (2) the revocation is consistent with the purpose of the program.
What just happenedMay 15, 2020
Referred to the House Committee on Small Business.
Who’s behind it
- Introduced in HouseMay 15, 2020
- May 15, 2020IntroReferralH11100
Referred to the House Committee on Small Business.
Small Business Committee - May 15, 2020IntroReferralIntro-H
Introduced in House
- May 15, 2020IntroReferral1000
Introduced in House