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House Bill 6679
116th Congress(2019-2020)
To amend the CARES Act to authorize the financing of inventory of American manufactured products by financial institutions, and for other purposes.
Introduced
Introduced
Introduced in House on May 1, 2020
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Introduced in House 
May 1, 2020
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Introduced in House(May 1, 2020)
May 1, 2020
Not Scanned for Linkage
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Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 6679 (Introduced-in-House)


116th CONGRESS
2d Session
H. R. 6679


To amend the CARES Act to authorize the financing of inventory of American manufactured products by financial institutions, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

May 1, 2020

Mr. Kelly of Mississippi introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the CARES Act to authorize the financing of inventory of American manufactured products by financial institutions, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Authorizing the financing of inventory of American manufactured products by financial institutions.

(a) In general.—Title II of the Coronavirus Aid, Relief, and Economic Security Act of 2020 (15 U.S.C. 9071 et seq.) is amended—

(1) by inserting after section 9071 the following section:

“SEC. 9072. Authorizing the financing of inventory of American manufactured products by financial institutions.

“(a) In general.—

“(1) Notwithstanding any other provision of law, to preserve American manufacturers and their supply chain, the Secretary of the Treasury shall provide financial assistance that shall exclusively be used for the financing of finished products manufactured in the United States after 21 March 2020 by businesses of—

“(A) less than 2,000 employees;

“(B) which financing shall not be in excess of 110 percent of sales of the finished product based off the 12 months of sales prior to 21 March 2020; and

“(C) which financing of American manufactured products that were produced in response to COVID–19 pursuant to section 564 of the Federal Food, Drug, and Cosmetic Act (21 U.S.C. 201 et seq.) shall not be counted in the calculation of sales of the finished product in the 12 months of sales prior to 21 March 2020.”.