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II
116TH CONGRESS
2D SESSION
S. 3992
To amend the Small Business Act to provide that certain chambers of com-
merce and destination marketing organizations are eligible for loans
under the paycheck protection program, and for other purposes.
IN THE SENATE OF THE UNITED STATES
JUNE 17, 2020
Mr. CRUZ (for himself, Mr. SCOTT of South Carolina, and Mr. RUBIO) intro-
duced the following bill; which was read twice and referred to the Com-
mittee on Small Business and Entrepreneurship
A BILL
To amend the Small Business Act to provide that certain
chambers of commerce and destination marketing organi-
zations are eligible for loans under the paycheck protec-
tion 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. ELIGIBILITY FOR CHAMBERS OF COMMERCE
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AND DESTINATION MARKETING ORGANIZA-
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TIONS FOR LOANS UNDER THE PAYCHECK
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PROTECTION PROGRAM.
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Section 7(a)(36)(D) of the Small Business Act (15
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U.S.C. 636(a)(36)(D)) is amended—
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•S 3992 IS
(1) in clause (v), by inserting ‘‘or whether an
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entity described in clause (vii) employs not more
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than 300 employees,’’ after ‘‘clause (i)(I),’’; and
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(2) by adding at the end the following:
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‘‘(vii)
ELIGIBILITY
FOR
CERTAIN
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CHAMBERS OF COMMERCE AND DESTINA-
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TION MARKETING ORGANIZATIONS.—
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‘‘(I) IN
GENERAL.—During the
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covered period—
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‘‘(aa) any chamber of com-
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merce that is described in section
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501(c)(6) of the Internal Rev-
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enue Code and that is exempt
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from
taxation
under
section
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501(a) of such Code shall be eli-
15
gible to receive a covered loan if
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the chamber of commerce em-
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ploys not more than 300 employ-
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ees; and
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‘‘(bb) any destination mar-
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keting organization shall be eligi-
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ble to receive a covered loan if
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the destination marketing organi-
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zation employs not more than
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300 employees and—
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•S 3992 IS
‘‘(AA) is described in
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section 501(c) of the Inter-
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nal Revenue Code and is ex-
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empt from taxation under
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section 501(a) of such Code;
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or
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‘‘(BB) is a quasi-gov-
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ernmental entity or is a po-
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litical subdivision of a State
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or local government, includ-
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ing any instrumentality of
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those entities.
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‘‘(II)
RULE
OF
CONSTRUC-
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TION.—Nothing in this clause shall be
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construed to provide eligibility for
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trade associations for covered loans.’’.
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Æ
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