H.R. 6304 · 116th Congress
Small Business Repayment Relief Act of 2020
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DelgadoSponsor7 cosponsors · 7 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires the Small Business Administration (SBA) to pay the principal, interest, and any associated fees owed on certain loans made to small businesses for a six month period.
What it does: CRS summary · Introduced in House · Mar 19, 2020
Small Business Repayment Relief Act of 2020
This bill requires the Small Business Administration (SBA) to pay the principal, interest, and any associated fees owed on certain loans made to small businesses for a six month period.
The SBA must also encourage the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and state bank regulators to not require lenders to increase their reserves on account of receiving such payments made by the SBA. The SBA shall waive statutory limits on maximum loan maturities for certain loan durations where the lender provides a deferral and extends the maturity of such loans and, when necessary to provide more time because of difficulties during the COVID-19 (i.e., coronavirus disease 2019) pandemic, extend lender site visit requirements.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Repayment Relief Act of 2020
Latest action (Mar 19, 2020): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: Mar 19, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.