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117TH CONGRESS
1ST SESSION
H. R. 809
To expand the payment of principal, interest, and fees for certain disaster
loans under the CARES Act, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 4, 2021
Mrs. FLETCHER (for herself and Mr. MCCAUL) introduced the following bill;
which was referred to the Committee on Small Business
A BILL
To expand the payment of principal, interest, and fees for
certain disaster loans under the CARES Act, and for
other purposes.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Loan Interest Forgive-
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ness for Taxpayers Under a Pandemic Act of 2021’’ or
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the ‘‘LIFT UP Act of 2021’’.
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SEC. 2. SUBSIDY FOR CERTAIN LOAN PAYMENTS.
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Section 1112 of the CARES Act (15 U.S.C. 9011)
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is amended—
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(1) in subsection (a)—
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(A) in paragraph (1)(B), by striking ‘‘or’’
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at the end;
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(B) in paragraph (2), by striking the pe-
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riod at the end and inserting ‘‘; or’’; and
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(C) by adding at the end the following:
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‘‘(3) made during the period beginning on Jan-
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uary 1, 2015, and ending on the day before the date
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of enactment of this paragraph—
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‘‘(A) to a business concern under section
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7(b)(1) of the Small Business Act (15 U.S.C.
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636(b)(1)) that is unrelated to the COVID–19
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pandemic; or
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‘‘(B) under section 7(b)(2) of the Small
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Business Act (15 U.S.C. 636(b)(2)) that is un-
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related to the COVID–19 pandemic.’’; and
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(2) in subsection (c)—
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(A) in paragraph (1)—
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(i) in subparagraphs (A) and (B), by
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inserting ‘‘(except a covered loan described
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in
subsection
(a)(3))’’
after
‘‘on
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deferment’’ each place it appears; and
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(ii) by adding at the end the following
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new subparagraph:
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‘‘(E) With respect to a covered loan de-
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scribed in subsection (a)(3), for the 6-month
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period beginning with the first payment due on
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the covered loan.’’; and
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(B) in paragraph (6), by inserting ‘‘(except
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a covered loan described in subsection (a)(3))’’
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after ‘‘for a covered loan’’.
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SEC. 3. EMERGENCY EIDL GRANTS.
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A borrower of a loan made under section 7(b)(2) of
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the Small Business Act (15 U.S.C. 636(b)(2)) may also
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receive payments under section 1112 of the CARES Act
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(15 U.S.C. 9011), as amended by this Act.
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Æ
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