House - 05/19/2020 Referred to the Committee on Small Business, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (All Actions)
Tracker:
This bill has the status Introduced
Here are the steps for Status of Legislation:
Introduced
Array
(
[actionDate] => 2020-05-19
[displayText] => Introduced in House
[externalActionCode] => 1000
[description] => Introduced
[chamberOfAction] => House
)
To permit the Secretary of the Treasury to provide direct funding to certain entities.
Actions Overview (1)
Date
Actions Overview
05/19/2020
Introduced in House
05/19/2020 Introduced in House
All Actions (3)
Date
All Actions
05/19/2020
Referred to the Committee on Small Business, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Action By: House of Representatives
05/19/2020
Referred to the Committee on Small Business, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Action By: House of Representatives
05/19/2020
Introduced in House Action By: House of Representatives
05/19/2020 Referred to the Committee on Small Business, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
05/19/2020 Referred to the Committee on Small Business, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.
This bill establishes and provides funding for the Microbusiness Assistance Fund through which the Department of the Treasury must provide grants to specified small entities.
Specifically, the bill provides $125 billion for grants to entities such as community small businesses and nonprofits that have suffered a drop in revenue of over 20% during the COVID-19 (i.e., coronavirus disease 2019) pandemic. Such a grant shall not exceed $250,000 and may only be used for certain purposes, including (1) rehiring or hiring furloughed employees; (2) payment of compensation, rent or mortgage, utilities, or insurance; and (3) providing health care and benefits to employees.
Treasury is prohibited from denying a grant on the basis of any criminal history or involvement with the criminal legal system. Further, Treasury must give priority to people of color, veterans, women-owned community businesses, and socially and economically disadvantaged individuals, and 75% of appropriated amounts shall be provided to businesses or nonprofits owned or controlled by one or more socially and economically disadvantaged individuals.
All Summaries (1)
Shown Here: Introduced in House (05/19/2020)
Saving Our Street Act
This bill establishes and provides funding for the Microbusiness Assistance Fund through which the Department of the Treasury must provide grants to specified small entities.
Specifically, the bill provides $125 billion for grants to entities such as community small businesses and nonprofits that have suffered a drop in revenue of over 20% during the COVID-19 (i.e., coronavirus disease 2019) pandemic. Such a grant shall not exceed $250,000 and may only be used for certain purposes, including (1) rehiring or hiring furloughed employees; (2) payment of compensation, rent or mortgage, utilities, or insurance; and (3) providing health care and benefits to employees.
Treasury is prohibited from denying a grant on the basis of any criminal history or involvement with the criminal legal system. Further, Treasury must give priority to people of color, veterans, women-owned community businesses, and socially and economically disadvantaged individuals, and 75% of appropriated amounts shall be provided to businesses or nonprofits owned or controlled by one or more socially and economically disadvantaged individuals.