MOM-AND-POP Act

I 116TH CONGRESS 2D SESSION H. R. 6960 To require the Administrator of the Small Business Administration reserve amounts appropriated under the paycheck protection program for small entities, and for other purposes. IN THE HOUSE OF REPRESENTATIVES MAY 22, 2020 Mr. BILIRAKIS (for himself and Ms. BLUNT ROCHESTER) introduced the following bill; which was referred to the Committee on Small Business A BILL To require the Administrator of the Small Business Adminis- tration reserve amounts appropriated under the paycheck protection program for small entities, and for other pur- poses. 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 ‘‘Maximizing Our 4 Money and Addressing Novel Disasters by Protecting Our 5 Proprietors Act’’ or the ‘‘MOM-AND-POP Act’’. 6 VerDate Sep 11 2014 03:28 Jun 14, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H6960.IH H6960 pbinns on DSKJLVW7X2PROD with BILLS 2 •HR 6960 IH SEC. 2. RESERVATION OF ASSISTANCE FOR SMALL ENTI- 1 TIES. 2 (a) SET ASIDE.—Of amounts appropriated to carry 3 out section 7(a)(36) of the Small Business Act (15 U.S.C. 4 636(a)(36)), the Administrator of the Small Business Ad- 5 ministration shall provide for the cost to guarantee cov- 6 ered loans made under this paragraph a set aside of not 7 less than 25 percent for covered loans with a principal 8 amount of $150,000 or less made to a small entity. 9 (b) WAIVER OF AFFILIATION RULES.—The waiver of 10 affiliation rules under section 7(a)(36)(D)(iv) of the Small 11 Business Act (15 U.S.C. 636(a)(36)(D)(iv)) shall not 12 apply to a small entity that receives a covered loan because 13 of a set aside under subsection (a). 14 (c) MAJOR DISASTERS.—For any loan program cre- 15 ated after the date of the enactment of this Act by the 16 Administrator in direct response to a major disaster, as 17 determined by the President under the Robert T. Stafford 18 Disaster Relief and Emergency Assistance Act (42 U.S.C. 19 5121 et seq.), the Administrator shall consider imple- 20 menting a set aside similar to that described under sub- 21 section (a) for such loan program. 22 (d) DEFINITIONS.—In this Act: 23 (1) SMALL ENTITY.—The term ‘‘small entity’’ 24 means— 25 VerDate Sep 11 2014 21:46 Jun 15, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H6960.IH H6960 pbinns on DSKJLVW7X2PROD with BILLS 3 •HR 6960 IH (A) a business concern, nonprofit organiza- 1 tion, veterans organization, or Tribal business 2 concern with not more than 25 employees; or 3 (B) a sole proprietor, independent con- 4 tractor, or eligible self-employed individual (as 5 such terms are under section 7(a)(36) of the 6 Small Business Act (15 U.S.C. 636(a)(36))). 7 (2) EMPLOYEE.—The term ‘‘employee’’ includes 8 individuals employed on a full-time, part-time, or 9 other basis. 10 Æ VerDate Sep 11 2014 03:28 Jun 14, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H6960.IH H6960 pbinns on DSKJLVW7X2PROD with BILLS