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HR 6960 116th Congress House Commerce Appropriations Business expenses Cardiovascular and respiratory health Disaster relief and insurance Emergency medical services and trauma care Government lending and loan guarantees Infectious and parasitic diseases Self-employed Small business Wages and earnings

MOM-AND-POP Act

Introduced: May 22, 2020 Introduced by: Bilirakis, Gus M. Republican · Florida See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 2020
Referred to the House Committee on Small Business.
May 22, 2020
Introduced in House
 Plain-English summary Congressional Research Service

Maximizing Our Money and Addressing Novel Disasters by Protecting Our Proprietors Act or the MOM-AND-POP Act

This bill reserves assistance under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), for specified small entities.

Specifically, the bill establishes a set-aside of at least 25% of amounts appropriated for paycheck protection loans to guarantee loans of $150,000 or less made to small entities such as a (1) business or nonprofit with 25 employees or fewer, (2) sole proprietor, or (3) self-employed individual.

The Small Business Administration must consider implementing a similar set-aside for any future loan programs created in direct response to a major disaster.

What's happening now May 22, 2020

Referred to the House Committee on Small Business.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1