S. 3604 · 116th Congress
Transparency and Oversight of COVID–19 Small Business Assistance Act
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
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
CardinSponsor6 cosponsors · 6 D
5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Transparency and Oversight of COVID-19 Small Business Assistance Act
What it does: CRS summary · Introduced in Senate · May 5, 2020
Transparency and Oversight of COVID-19 Small Business Assistance Act
This bill requires the Small Business Administration (SBA) to report specified data on economic relief programs implemented in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the SBA must
- daily report the total number and dollar amount of loans or grants approved and disbursed under programs such as the paycheck protection program and the emergency grants program;
- daily report the amount of remaining authority and funds appropriated for such programs and an estimate of the date on which such funds will be depleted;
- weekly report the number and dollar amount of certain program loans and loan payments disaggregated by specified metrics such as geography, demographics, loan sizes, industry, and lender type;
- report on the number of employees expected to be retained by borrowers of certain loans as a result of economic relief programs;
- report its plans to carry out specified relief programs and identify and prevent waste, fraud, and abuse in such programs;
- request certain information such as demographic and job information when a borrower applies for loan forgiveness; and
- make each required report publicly available and take all necessary steps to protect sensitive personally identifiable information.
The Government Accountability Office must report specified information, including (1) the effectiveness of certain programs in reaching underserved businesses, (2) a review of the reports required to be published under this bill, and (3) the impact of certain relief programs on jobs.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Transparency and Oversight of COVID–19 Small Business Assistance Act
Latest action (May 5, 2020): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: May 5, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.