H.R. 6304
Referred to CommitteeSmall Business Repayment Relief Act of 2020
Latest Action
Referred to the House Committee on Small Business.
3/19/2020 • House
Summary
Small Business Repayment Relief Act of 2020
This bill requires the Small Business Administration (SBA) to pay the principal, interest, and any associated fees owed on certain loans made to small businesses for a six month period.
The SBA must also encourage the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and state bank regulators to not require lenders to increase their reserves on account of receiving such payments made by the SBA. The SBA shall waive statutory limits on maximum loan maturities for certain loan durations where the lender provides a deferral and extends the maturity of such loans and, when necessary to provide more time because of difficulties during the COVID-19 (i.e., coronavirus disease 2019) pandemic, extend lender site visit requirements.
Introduced in House • 3/19/2020
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (8)
Party Breakdown
Sponsor
Cosponsors (7)
Bill Journey
Originated in the House
Introduced
March 19, 2020
Referred to the House Committee on Small Business.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Related Bills (5)
H.R. 748
CARES Act
H.R. 6379
Workforce Emergency Response Act of 2020
H.R. 6312
COVID–19 Relief for Small Businesses Act of 2020
H.R. 6396
Responsible Relief for Americans Act
S. 3519
A bill to authorize the Administrator of the Small Business Administration to subsidize payments on loans guaranteed under the 7(a) and 504 loan programs or made using funds under the microloan program, and for other purposes.