To require the Secretary of the Treasury to implement a program that provides financial assistance to sports facilities, museums, and community theaters, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 27, 2020)
This bill requires the Department of the Treasury to implement a program to provide financing of at least $1 billion for loans related to losses incurred as a result of COVID-19 (i.e., coronavirus disease 2019) to certain community-owned or private businesses that have contractual obligations for making lease, rent, or bond payments for publicly owned sports facilities, museums, and community theaters.
Terms for such loans shall include (1) a 15-year term, (2) no requirement to provide collateral or a guaranty, and (3) a maximum loan amount of $25 million. An applicant for such a loan must make a good faith certification that, among other things, (1) the loan request is necessary to support the recipient's ongoing operations; and (2) the recipient will use the loan for purposes directly connected to contracted services, including performances and sporting events.
What just happenedMay 27, 2020
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseMay 27, 2020
- May 27, 2020IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - May 27, 2020IntroReferralIntro-H
Introduced in House
- May 27, 2020IntroReferral1000
Introduced in House