Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 7845
116th Congress(2019-2020)
Remote Recreational Small Business Interruption Program
Introduced
Introduced
Introduced in House on Jul 29, 2020
Overview
Text
Introduced
Jul 29, 2020
Latest Action
Jul 29, 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
7845
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
Collin Peterson
Minnesota
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Remote Recreational Small Business Interruption Program

This bill requires the Small Business Administration (SBA) to establish a program to make forgivable loans to certain remote recreational businesses that are impacted by border closures due to COVID-19 (i.e., coronavirus disease 2019).

Eligible remote recreational businesses must (1) have experienced a loss in revenue that is greater than 50% between March 1, 2020, and July 1, 2020, as compared with the same period in the previous year; and (2) show that the closure of the U.S.-Canada border restricted the ability of American customers to access the location of such business.

The maximum loan amount shall be equal to 75% of the business's FY2019 revenue, and the SBA shall forgive 100% of the value of such loan, less the amount the borrower received from (1) any other loan forgiveness program, and (2) any emergency advance under the economic impact disaster loan program.

Text (1)
Introduced in House
July 29, 2020
Related Bills (1)
Sep 10, 2020
Introduced in Senate
3
Sponsorship
Senate Bill 4560
Remote Recreational Small Business Interruption Program Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (2)
07/29/2020
Referred to the House Committee on Small Business.
07/29/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:47 PM
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