Bill Sponsor
Senate Bill 3787
116th Congress(2019-2020)
Saving Our Street Act
Introduced
Introduced
Introduced in Senate on May 20, 2020
Overview
Text
Introduced
May 20, 2020
Latest Action
May 20, 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
3787
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.
Sponsorship by Party
Democrat
California
Democrat
Massachusetts
Democrat
Massachusetts
Democrat
Minnesota
Democrat
Oregon
Democrat
Rhode Island
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Saving Our Street Act

This bill establishes and provides funding for the Microbusiness Assistance Fund through which the Department of the Treasury must provide grants to specified small entities.

Specifically, the bill provides $125 billion for grants to entities such as community small businesses and nonprofits that have suffered a drop in revenue of over 20% during the COVID-19 (i.e., coronavirus disease 2019) pandemic. Such a grant shall not exceed $250,000 and may only be used for certain purposes, including (1) rehiring or hiring furloughed employees; (2) payment of compensation, rent or mortgage, utilities, or insurance; and (3) providing health care and benefits to employees.

Treasury is prohibited from denying a grant on the basis of any criminal history or involvement with the criminal legal system. Further, Treasury must give priority to people of color, veterans, women-owned community businesses, and socially and economically disadvantaged individuals, and 75% of appropriated amounts shall be provided to businesses or nonprofits owned or controlled by one or more socially and economically disadvantaged individuals.

Text (1)
Actions (2)
05/20/2020
Read twice and referred to the Committee on Finance.
05/20/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:42:38 PM