House Bill 7928
116th Congress(2019-2020)
LIFT UP Act of 2020
Introduced
Introduced in House on Aug 4, 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
7928
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
Loan Interest Forgiveness for Taxpayers Under a Pandemic Act of 2020 or the LIFT UP Act
This bill modifies specified debt relief made available to small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the Small Business Administration must pay the principal, interest, and any associated fees that are owed on certain disaster loans made to small businesses prior and unrelated to COVID-19 for a six-month period.
August 4, 2020
08/04/2020
Referred to the House Committee on Small Business.
08/04/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:45:30 PM