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II
116TH CONGRESS
2D SESSION
S. 3524
To modify terms related to the economic injury disaster loan program of
the Small Business Administration for applicants affected by COVID–
19, and for other purposes.
IN THE SENATE OF THE UNITED STATES
MARCH 18, 2020
Mr. COTTON introduced the following bill; which was read twice and referred
to the Committee on Small Business and Entrepreneurship
A BILL
To modify terms related to the economic injury disaster
loan program of the Small Business Administration for
applicants affected by COVID–19, and for other pur-
poses.
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 ‘‘Coronavirus Credit Ex-
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pansion Act’’.
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•S 3524 IS
SEC. 2. SMALL BUSINESS ECONOMIC INJURY DISASTER
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LOANS.
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(a) IN GENERAL.—With respect to loans made under
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section 7(b)(2) of the Small Business Act (15 U.S.C.
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636(b)(2)) related to COVID–19—
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(1) the Small Business Administration shall ex-
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pedite the loan approval process for those loans such
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that the loans are made as soon as is practicable;
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and
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(2) the maximum loan amount shall be
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$20,000,000.
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(b) FRAUD.—The fine imposed for any conviction
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under sections 3729 through 3733 of title 31, United
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States Code (commonly known as the ‘‘False Claims
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Act’’), relating to the use of funds provided under section
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7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2))
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related to COVID–19 shall be equal to 3 times the amount
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of the loan.
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