H.R.6782 - TRUTH Act116th Congress (2019-2020) |
|Sponsor:||Rep. Phillips, Dean [D-MN-3] (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.6782 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (05/08/2020)
Small Business Transparency and Reporting for the Underbanked and Taxpayers at Home Act or the TRUTH Act
This bill requires the Small Business Administration (SBA) to make information regarding economic relief measures implemented in response to COVID-19 (i.e., coronavirus disease 2019) publicly available.
Specifically, with respect to the Paycheck Protection Program and economic injury disaster loans and emergency grants, the SBA must publish (1) the identity of each recipient of assistance and an explanation of the decision-making process underlying such disbursal; (2) the number of employees of each recipient and the date on which such assistance was disbursed; (3) an identification of each lender or intermediary through which assistance was disbursed; and (4) the amount of assistance disbursed to small businesses owned and controlled by socially and economically disadvantaged individuals, women, and veterans.