H.R. 7522 · 116th Congress
To establish the Small Business Economic Assistance Program.
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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
GallegoSponsorNo cosponsors.
This bill establishes the Small Business Economic Assistance Program to provide financial assistance to certain small businesses.
What it does: CRS summary · Introduced in House · Jul 9, 2020
This bill establishes the Small Business Economic Assistance Program to provide financial assistance to certain small businesses.
Among other eligibility requirements, a small business must have (1) more than 1 but fewer than 50 employees, (2) not received a payment under the Paycheck Protection Program, and (3) been established prior to January 1, 2020.
Such assistance shall consist of a financial assistance payment equal to $5,000 per employee, at least 80% of which the recipient shall use for employee compensation. The remaining amounts shall be used for business costs such as rent, mortgage payments, or utility payments.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To establish the Small Business Economic Assistance Program.
Latest action (Jul 9, 2020): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: Jul 9, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.