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I
116TH CONGRESS
2D SESSION
H. R. 6751
To amend the Small Business Act to include certain small business concerns
in the paycheck protection program, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
MAY 8, 2020
Ms. ESHOO (for herself and Mrs. RODGERS of Washington) introduced the
following bill; which was referred to the Committee on Small Business
A BILL
To amend the Small Business Act to include certain small
business concerns in the paycheck protection program,
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 ‘‘Caring for Startup
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Employees Act of 2020’’.
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SEC. 2. ENSURING STARTUPS CAN ACCESS THE PAYCHECK
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PROTECTION PROGRAM.
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Section 7(a)(36)(D)(iv) of the Small Business Act
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(15 U.S.C. 636(a)(36)(D)(iv)) is amended—
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(1) by adding at the end the following:
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•HR 6751 IH
‘‘(IV) any small business concern
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that has accepted funding from an in-
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vestment company, as such term is
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defined in section 80a–3 of title 15,
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Code of Federal Regulations (or any
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successor regulation), notwithstanding
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any assessment of such investment
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company, as long as—
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‘‘(aa) no investment com-
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pany is a majority stakeholder of
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the small business concern; and
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‘‘(bb) the small business
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concern does not distribute pro-
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ceeds of the loan to any invest-
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ment company of such small
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business
concern,
including
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through dividends, redemptions,
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security
repurchases,
or
any
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other transfer or transaction.’’;
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(2) in subclause (II), by striking ‘‘; and’’ and
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inserting a semicolon; and
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(3) in subclause (III), by striking the period at
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the end and inserting ‘‘; and’’.
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Æ
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