H.R. 3188 · 117th Congress
ANGLE Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FischbachSponsor2 cosponsors · 2 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Assistance Needed for Great Losses Experienced in Isolated Northern Lakes Economic Territory Act or the ANGLE Act
What it does: CRS summary · Introduced in House · May 13, 2021
Assistance Needed for Great Losses Experienced in Isolated Northern Lakes Economic Territory Act or the ANGLE Act
This bill requires the Small Business Administration (SBA) to establish a program to make forgivable loans to certain remote recreational businesses that are impacted by border closures due to COVID-19 (i.e., coronavirus disease 2019).
Eligible remote recreational businesses must (1) have experienced a loss in revenue that is greater than 50% between March 1, 2020, and December 31, 2020, as compared with the same period in the previous year; and (2) show that the closure of the U.S.-Canada border restricted the ability of American customers to access the location of such businesses.
The maximum loan amount shall be equal to 75% of the business's FY2019 revenue, and the SBA shall forgive 100% of the value of such loan, less the amount the borrower received from (1) any other loan forgiveness program, or (2) any emergency advance under the economic impact disaster loan program.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: ANGLE Act
Also known as: Assistance Needed for Great Losses Experienced in Isolated Northern Lakes Economic Territory Act
Latest action (May 13, 2021): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: May 13, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.