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S 4027 116th Congress Senate

TRACE Act

Official title: A bill to amend the Small Business Act to require Members of Congress, spouses of Members of Congress, and employees of Congress who receive a loan under the p… Show full official titleShow less

Official title: A bill to amend the Small Business Act to require Members of Congress, spouses of Members of Congress, and employees of Congress who receive a loan under the paycheck protection program to submit a financial disclosure form.

Introduced: June 22, 2020 Introduced by: Ernst, Joni Republican · Iowa See on congress.gov
Congress Business expensesCardiovascular and respiratory healthCongressional officers and employeesCongressional oversight
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Emergency medical services and trauma careGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment lending and loan guaranteesInfectious and parasitic diseasesMembers of CongressSmall businessWages and earnings
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 22, 2020
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Jun 22, 2020
Introduced in Senate
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 Latest action June 22, 2020

Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

 Plain-English summary Congressional Research Service

Transparency Requirements Aimed at Congressional Expenditures Act or the TRACE Act

This bill requires a Member of Congress, spouse of a Member, or employee of Congress to submit a financial disclosure if a business that they own or control receives a loan under the Paycheck Protection Program for small businesses affected by COVID-19 (i.e., coronavirus disease 2019). The disclosure must include the name and address of the recipient's place of business and the amount of the loan.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 4027: TRACE Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-4027/
MLA
"S. 4027: TRACE Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-4027/.
Bluebook (legal)
S. 4027, 116th Cong. (2026), https://openamerica.io/bill/116-S-4027/.
Markdown link
[S. 4027: TRACE Act](https://openamerica.io/bill/116-S-4027/)
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