H.R.6751 - Caring for Startup Employees Act of 2020116th Congress (2019-2020) |
|Sponsor:||Rep. Eshoo, Anna G. [D-CA-18] (Introduced 05/08/2020)|
|Committees:||House - Small Business|
|Latest Action:||House - 05/08/2020 Referred to the House Committee on Small Business. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.6751 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (05/08/2020)
Caring for Startup Employees Act of 2020
This bill expands the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to encompass certain small businesses that have accepted funding from an investment company.
The investment company may not be a majority stakeholder of the small business, and the small business may not distribute any proceeds of a program loan to the investment company, including through dividends, redemptions, security repurchases, or other transfers or transactions.