Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
I
116TH CONGRESS
2D SESSION
H. R. 7397
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 HOUSE OF REPRESENTATIVES
JUNE 29, 2020
Mr. SPANO introduced the following bill; which was referred to the Committee
on Small Business
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-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. ELIGIBILITY FOR CHAMBERS OF COMMERCE
3
AND DESTINATION MARKETING ORGANIZA-
4
TIONS FOR LOANS UNDER THE PAYCHECK
5
PROTECTION PROGRAM.
6
Section 7(a)(36)(D) of the Small Business Act (15
7
U.S.C. 636(a)(36)(D)) is amended—
8
VerDate Sep 11 2014
18:26 Jul 13, 2020
Jkt 099200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H7397.IH
H7397
pamtmann on DSKBC07HB2PROD with BILLS
2
•HR 7397 IH
(1) in clause (v), by inserting ‘‘or whether an
1
entity described in clause (vii) employs not more
2
than 300 employees,’’ after ‘‘clause (i)(I),’’; and
3
(2) by adding at the end the following:
4
‘‘(vii)
ELIGIBILITY
FOR
CERTAIN
5
CHAMBERS OF COMMERCE AND DESTINA-
6
TION MARKETING ORGANIZATIONS.—
7
‘‘(I) IN
GENERAL.—During the
8
covered period—
9
‘‘(aa) any chamber of com-
10
merce that is described in section
11
501(c)(6) of the Internal Rev-
12
enue Code and that is exempt
13
from
taxation
under
section
14
501(a) of such Code shall be eli-
15
gible to receive a covered loan if
16
the chamber of commerce em-
17
ploys not more than 300 employ-
18
ees; and
19
‘‘(bb) any destination mar-
20
keting organization shall be eligi-
21
ble to receive a covered loan if
22
the destination marketing organi-
23
zation employs not more than
24
300 employees and—
25
VerDate Sep 11 2014
18:26 Jul 13, 2020
Jkt 099200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H7397.IH
H7397
pamtmann on DSKBC07HB2PROD with BILLS
3
•HR 7397 IH
‘‘(AA) is described in
1
section 501(c) of the Inter-
2
nal Revenue Code and is ex-
3
empt from taxation under
4
section 501(a) of such Code;
5
or
6
‘‘(BB) is a quasi-gov-
7
ernmental entity or is a po-
8
litical subdivision of a State
9
or local government, includ-
10
ing any instrumentality of
11
those entities.
12
‘‘(II)
RULE
OF
CONSTRUC-
13
TION.—Nothing in this clause shall be
14
construed to provide eligibility for
15
trade associations for covered loans.’’.
16
Æ
VerDate Sep 11 2014
18:26 Jul 13, 2020
Jkt 099200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6301
E:\BILLS\H7397.IH
H7397
pamtmann on DSKBC07HB2PROD with BILLS