Senate Bill 3524
116th Congress(2019-2020)
Coronavirus Credit Expansion Act
Introduced
Introduced in Senate on Mar 18, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3524
Congress
116
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
No Senate votes have been held for this bill.
Summary
Coronavirus Credit Expansion Act
This bill increases the maximum loan amount for a small business disaster loan made in response to COVID-19 (i.e., coronavirus disease 2019), and it requires the Small Business Administration to expedite the loan approval process for such loans.
The fine for a conviction relating to a fraudulent claim for the payment or approval of such a loan shall be three times the amount of the loan.
March 18, 2020
03/18/2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
03/18/2020
Introduced in Senate
Public Record
Record Updated
Feb 8, 2022 11:23:04 PM