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Border Business COVID–19 Rescue Act

Introduced: February 12, 2021 Introduced by: Kelly, Mark Democratic · Arizona 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
Feb 12, 2021
Read twice and referred to the Committee on Finance.
Feb 12, 2021
Introduced in Senate
 Plain-English summary Congressional Research Service

Border Business COVID-19 Rescue Act

This bill requires the Small Business Administration to establish a loan program to assist border businesses that are directly impacted by the COVID-19 (i.e., coronavirus disease 2019) pandemic. For the purposes of this bill, the term border business refers to a business that (1) is eligible for an economic injury disaster loan, (2) has its principal office located in the contiguous United States and is located within 25 miles of the U.S. border, (3) has fewer than 50 employees and annual revenue of $1 million or less, and (4) demonstrates a reduction in revenue from specified prior periods.

Recipients must use loan funds for purposes related to COVID-19 such as (1) providing sick leave to employees, (2) meeting increased costs arising from interrupted supply chains, or (3) paying for logistical expenses associated with border closures.

What's happening now February 12, 2021

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1