House Bill 7522
116th Congress(2019-2020)
To establish the Small Business Economic Assistance Program.
Introduced
Introduced in House on Jul 9, 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
7522
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 establishes the Small Business Economic Assistance Program to provide financial assistance to certain small businesses.
Among other eligibility requirements, a small business must have (1) more than 1 but fewer than 50 employees, (2) not received a payment under the Paycheck Protection Program, and (3) been established prior to January 1, 2020.
Such assistance shall consist of a financial assistance payment equal to $5,000 per employee, at least 80% of which the recipient shall use for employee compensation. The remaining amounts shall be used for business costs such as rent, mortgage payments, or utility payments.
July 9, 2020
07/09/2020
Referred to the House Committee on Small Business.
07/09/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:46:00 PM