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I
116TH CONGRESS
2D SESSION
H. R. 6331
To require the Board of Governors of the Federal Reserve System to establish
a credit facility to provide loans to small businesses, including small
family farms, during the COVID–19 emergency.
IN THE HOUSE OF REPRESENTATIVES
MARCH 23, 2020
Mrs. BEATTY introduced the following bill; which was referred to the
Committee on Financial Services
A BILL
To require the Board of Governors of the Federal Reserve
System to establish a credit facility to provide loans
to small businesses, including small family farms, during
the COVID–19 emergency.
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. SMALL BUSINESS CREDIT FACILITY.
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(a) ESTABLISHMENT.—The Board of Governors of
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the Federal Reserve System shall establish a credit facility
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to provide loans to small businesses during the COVID–
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19 emergency.
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(b) DEFINITIONS.—In this section:
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•HR 6331 IH
(1)
COVID–19
EMERGENCY.—The
term
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‘‘COVID–19 emergency’’ means the period that be-
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gins upon the date of the enactment of this Act and
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ends on the date of the termination by the Federal
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Emergency Management Agency of the emergency
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declared on March 13, 2020, by the President under
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the Robert T. Stafford Disaster Relief and Emer-
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gency Assistance Act (42 U.S.C. 4121 et seq.) relat-
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ing to the Coronavirus Disease 2019 (COVID–19)
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pandemic.
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(2) SMALL BUSINESS.—The term ‘‘small busi-
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ness’’ means—
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(A) a small business concern (as defined
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under section 3 of the Small Business Act (15
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U.S.C. 632);
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(B) a family farm; and
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(C) an independent contractor.
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