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House Bill 6751
116th Congress(2019-2020)
Caring for Startup Employees Act of 2020
Introduced
Introduced
Introduced in House on May 8, 2020
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Introduced in House 
May 8, 2020
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Introduced in House(May 8, 2020)
May 8, 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. 6751 (Introduced-in-House)


116th CONGRESS
2d Session
H. R. 6751


To amend the Small Business Act to include certain small business concerns in the paycheck protection program, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

May 8, 2020

Ms. Eshoo (for herself and Mrs. Rodgers of Washington) introduced the following bill; which was referred to the Committee on Small Business

A BILL

To amend the Small Business Act to include certain small business concerns in the paycheck protection program, 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. Short title.

This Act may be cited as the “Caring for Startup Employees Act of 2020”.

SEC. 2. Ensuring startups can access the Paycheck Protection Program.

Section 7(a)(36)(D)(iv) of the Small Business Act (15 U.S.C. 636(a)(36)(D)(iv)) is amended—

(1) by adding at the end the following:

        “(IV) any small business concern that has accepted funding from an investment company, as such term is defined in section 80a–3 of title 15, Code of Federal Regulations (or any successor regulation), notwithstanding any assessment of such investment company, as long as—

        “(aa) no investment company is a majority stakeholder of the small business concern; and

        “(bb) the small business concern does not distribute proceeds of the loan to any investment company of such small business concern, including through dividends, redemptions, security repurchases, or any other transfer or transaction.”;

(2) in subclause (II), by striking “; and” and inserting a semicolon; and

(3) in subclause (III), by striking the period at the end and inserting “; and”.