HR 6361
116th Congress
House
Finance and Financial Sector
Alternative dispute resolution, mediation, arbitration
Bank accounts, deposits, capital
Cardiovascular and respiratory health
Civil actions and liability
Debt collection
Emergency medical services and trauma care
Executive agency funding and structure
Federal Reserve System
Foreign language and bilingual programs
Infectious and parasitic diseases
Interest, dividends, interest rates
Landlord and tenant
Postal service
Public utilities and utility rates
Small business
Social work, volunteer service, charitable organizations
Tax-exempt organizations
Telephone and wireless communication
Wages and earnings
Relief for Small Businesses and Nonprofits Act
Introduced: March 23, 2020
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 23, 2020
Referred to the House Committee on Financial Services.
Mar 23, 2020
Introduced in House
Plain-English summary
Relief for Small Businesses and Nonprofits Act
This bill places restrictions on the collection of debts owed by small businesses and nonprofit organizations during the COVID-19 (i.e., coronavirus disease 2019) emergency period. Among other things, debt collectors may not during such a period
- enforce a security interest through a repossession or foreclosure,
- commence or continue litigation to collect a debt,
- terminate utility service,
- seize assets,
- commence or continue an eviction, or
- charge fees or apply a higher interest rate as a result of nonpayment.
After such a period, debt collectors must provide certain repayment options including extending the repayment period for debts.
Violations of these provisions are subject to civil enforcement.
The Federal Reserve Board must establish a facility to compensate loan holders for losses caused by the suspension of payments.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1
Cosponsors
1