S. 4012

Referred to Committee

RESTAURANTS Act of 2020

Introduced 6/18/2020•116th Congress•Senate

Latest Action

Read twice and referred to the Committee on Finance.

6/18/2020 • Senate

Summary

Real Economic Support That Acknowledges Unique Restaurant Assistance Needed To Survive Act of 2020 or the RESTAURANTS Act of 2020

This bill temporarily establishes and provides funding for the Restaurant Revitalization Fund, from which the Department of the Treasury shall make grants to eligible food and beverage purveyors to cover specified costs.

For the grant program's initial period, Treasury must (1) prioritize awarding grants to marginalized and underrepresented communities, and (2) only award grants to eligible food and beverage purveyors with annual revenues of less than $1.5 million. Further, an entity that received a loan under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) may not apply for or use a restaurant revitalization grant for the same expenses for which the entity received the paycheck protection loan.

Introduced in Senate • 6/18/2020

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Topics & Subjects

Policy Area: Commerce

AppropriationsBusiness expensesCardiovascular and respiratory healthEconomic performance and conditionsEmergency medical services and trauma careFood industry and servicesGovernment lending and loan guaranteesGovernment trust fundsIncome tax exclusionInfectious and parasitic diseasesMinority and disadvantaged businessesSmall businessVeterans' education, employment, rehabilitationWages and earningsWomen in business