S. 3742 · 116th Congress
RELIEF for Main Street Act
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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
BookerSponsor3 cosponsors · 1 D, 2 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Recharge and Empower Local Innovation and Entrepreneurs Fund for Main Street Act or the RELIEF for Main Street Act
What it does: CRS summary · Introduced in Senate · May 14, 2020
Recharge and Empower Local Innovation and Entrepreneurs Fund for Main Street Act or the RELIEF for Main Street Act
This bill establishes for one year the Small Business Local Relief Program, which shall allocate resources to states, local governments, and Native American tribes for providing assistance to certain small businesses and nonprofits that have lost revenue due to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the bill provides $50.5 billion for such assistance, of which (1) $35 billion shall be distributed based on the Community Development Block Grant formula (70% allocated to larger cities and counties and 30% to rural communities), (2) $15 billion shall be allocated to provide financing exclusively to businesses in rural areas, and (3) $500 million shall be for Native American Tribes.
These amounts shall be used to start or scale a local small business emergency fund or to support organizations that provide technical assistance to small businesses or nonprofits. Such local funds or organizations may then use the amounts to assist small businesses (including sole proprietorships, independent contractors, and self-employed individuals) and nonprofits that (1) employ no more than 20 full-time employees (50 if the recipient is located in a low-income community), (2) has experienced a loss of revenue because of COVID-19, and (3) satisfies any additional requirements imposed by the administrator of the fund.
A state, local government, or Native American tribe that receives funds under the bill must report specified demographic and disbursement information.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: RELIEF for Main Street Act
Also known as: Recharge and Empower Local Innovation and Entrepreneurs Fund for Main Street Act
Latest action (Jul 23, 2020): Committee on Small Business and Entrepreneurship. Hearings held.
Policy area: Commerce · Origin: Senate · Introduced: May 14, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.