House Bill 6888
116th Congress(2019-2020)
To modify requirements relating to the participation of community development financial institutions in the paycheck protection program of the Small Business Administration, and for other purposes.
Introduced
Introduced in House on May 15, 2020
Origin Chamber
House
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
6888
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 House votes have been held for this bill.
Summary
This bill authorizes community development financial institutions to make loans under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
The bill also allows the Small Business Administration and the Department of the Treasury to revoke a lender's authority to make paycheck protection loans upon a joint determination that (1) the lender has had recent material operational shortcomings that warrant such a revocation, and (2) the revocation is consistent with the purpose of the program.
May 15, 2020
05/15/2020
Referred to the House Committee on Small Business.
05/15/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:42:54 PM