Bill Sponsor
House Bill 399
117th Congress(2021-2022)
Border Business COVID–19 Rescue Act
Introduced
Introduced
Introduced in House on Jan 21, 2021
Overview
Text
Introduced
Jan 21, 2021
Latest Action
Jan 21, 2021
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
399
Congress
117
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
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Border Business COVID-19 Rescue Act

This bill establishes and provides funding for a program whereby the Small Business Administration (SBA) must make loans to border businesses directly impacted by COVID-19 (i.e., coronavirus disease 2019). A border business is any entity, otherwise eligible for an SBA disaster loan, that (1) has its principal office in the United States, (2) has annual revenue of up to $500,000, and (3) is located within 25 miles of the U.S. border.

The SBA shall make loans of up to $500,000 to border businesses, and these loans must have a zero percent interest rate. Loan recipients must use the funds to mitigate the effects of COVID-19 on their business, including by (1) providing paid sick leave to employees unable to work because of the pandemic, (2) making rent or mortgage payments, (3) purchasing personal protective equipment, or (4) paying for logistical expenses associated with border closures due to the pandemic.

Recipients may also request an advance on the loan, which shall not be less than $10,000. Further, certain recipients may be forgiven up to 100% of the loan, less any amount received under other specified COVID-19 economic relief programs.

Text (1)
January 21, 2021
Actions (3)
01/21/2021
Referred to the Committee on Small Business, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
01/21/2021
Referred to the Subcommittee on Health.
01/21/2021
Introduced in House
Public Record
Record Updated
May 11, 2023 3:45:15 PM