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Paycheck Protection Program Transparency Act of 2020

Introduced: August 5, 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

Aug 5, 2020

Read twice and referred to the Committee on Small Business and Entrepreneurship.

Aug 5, 2020

Introduced in Senate

Plain-English summary Congressional Research Service

Paycheck Protection Program Transparency Act of 2020

This bill requires the Small Business Administration (SBA) to disclose and report certain information related to the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

Specifically, the SBA must establish a website that contains specified borrower information such as the name, location, and number of employees of each borrower of a paycheck protection loan. The SBA must establish a second website that contains specified lender information such as the number of loans disbursed and total fees collected by each paycheck protection lender. Additionally, the SBA must report to Congress on the status of paycheck protection loans.

What's happening now August 5, 2020

Read twice and referred to the Committee on Small Business and Entrepreneurship.

Committees of jurisdiction 1