ANGLE Act

I 117TH CONGRESS 1ST SESSION H. R. 3188 To direct the Administrator of the Small Business Administration to establish a forgivable loan program for remote recreational businesses, and for other purposes. IN THE HOUSE OF REPRESENTATIVES MAY 13, 2021 Mrs. FISCHBACH (for herself, Mr. EMMER, and Mr. STAUBER) introduced the following bill; which was referred to the Committee on Small Business A BILL To direct the Administrator of the Small Business Adminis- tration to establish a forgivable loan program for remote recreational businesses, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Assistance Needed for 4 Great Losses Experienced in Isolated Northern Lakes 5 Economic Territory Act’’ or the ‘‘ANGLE Act’’. 6 VerDate Sep 11 2014 22:27 Jun 14, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H3188.IH H3188 kjohnson on DSK79L0C42PROD with BILLS 2 •HR 3188 IH SEC. 2. FORGIVABLE LOAN PROGRAM FOR REMOTE REC- 1 REATIONAL BUSINESSES. 2 (a) IN GENERAL.—The Administrator shall establish 3 a program to make forgivable loans available to remote 4 recreational businesses that experienced a loss in revenue 5 that is greater than 50 percent during the period between 6 March 1, 2020, and December 31, 2020, as compared with 7 the same period during previous year. 8 (b) ELIGIBILITY.—To be eligible for a forgivable 9 loan, a remote recreational business must— 10 (1) have been in operation on March 1, 2020; 11 and 12 (2) show that the closure of the United States 13 and Canadian border restricted the ability of Amer- 14 ican customers to access the location of the remote 15 recreational business. 16 (c) LOAN AMOUNT.—The maximum loan amount 17 shall be equal to 75 percent of the remote recreational 18 gross annual receipts for fiscal year 2019. 19 (d) FORGIVENESS.—Not later than 1 calendar year 20 from the date of enactment of this Act, the Administrator 21 shall forgive 100 percent of the value of a loan received 22 less the amount the borrower received from— 23 (1) any other loan forgiveness program, includ- 24 ing any program established under the CARES Act 25 (Public Law 116–136); and 26 VerDate Sep 11 2014 22:27 Jun 14, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H3188.IH H3188 kjohnson on DSK79L0C42PROD with BILLS 3 •HR 3188 IH (2) an advance received under section 1110 of 1 the CARES Act (15 U.S.C. 9009). 2 SEC. 3. DEFINITIONS. 3 In this Act: 4 (1) ADMINISTRATOR.—The term ‘‘Adminis- 5 trator’’ means the Administrator of the Small Busi- 6 ness Administration. 7 (2) REMOTE RECREATIONAL BUSINESS.—The 8 term ‘‘remote recreational business’’ means a busi- 9 ness in the contiguous United States that is— 10 (A) a small business concern (as defined 11 under section 3 of the Small Business Act (15 12 U.S.C. 632)) operating in the recreational in- 13 dustry; 14 (B) located within 75 miles of the United 15 States and Canadian border; and 16 (C) is only accessible by land via Canada. 17 Æ VerDate Sep 11 2014 22:27 Jun 14, 2021 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H3188.IH H3188 kjohnson on DSK79L0C42PROD with BILLS