[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7397 Introduced in House (IH)]
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116th CONGRESS
2d Session
H. R. 7397
To amend the Small Business Act to provide that certain chambers of
commerce 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 organizations are eligible for loans
under the paycheck protection program, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. ELIGIBILITY FOR CHAMBERS OF COMMERCE AND DESTINATION
MARKETING ORGANIZATIONS FOR LOANS UNDER THE PAYCHECK
PROTECTION PROGRAM.
Section 7(a)(36)(D) of the Small Business Act (15 U.S.C.
636(a)(36)(D)) is amended--
(1) in clause (v), by inserting ``or whether an entity
described in clause (vii) employs not more than 300
employees,'' after ``clause (i)(I),''; and
(2) by adding at the end the following:
``(vii) Eligibility for certain chambers of
commerce and destination marketing
organizations.--
``(I) In general.--During the
covered period--
``(aa) any chamber of
commerce that is described in
section 501(c)(6) of the
Internal Revenue Code and that
is exempt from taxation under
section 501(a) of such Code
shall be eligible to receive a
covered loan if the chamber of
commerce employs not more than
300 employees; and
``(bb) any destination
marketing organization shall be
eligible to receive a covered
loan if the destination
marketing organization employs
not more than 300 employees
and--
``(AA) is described
in section 501(c) of
the Internal Revenue
Code and is exempt from
taxation under section
501(a) of such Code; or
``(BB) is a quasi-
governmental entity or
is a political
subdivision of a State
or local government,
including any
instrumentality of
those entities.
``(II) Rule of construction.--
Nothing in this clause shall be
construed to provide eligibility for
trade associations for covered
loans.''.
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