All Information (Except Text) for H.R.7023 - To require the Secretary of the Treasury to implement a program that provides financial assistance to sports facilities, museums, and community theaters, and for other purposes.116th Congress (2019-2020) |
To require the Secretary of the Treasury to implement a program that provides financial assistance to sports facilities, museums, and community theaters, and for other purposes.
Actions Overview (1)
Date
Actions Overview
05/27/2020
Introduced in House
05/27/2020 Introduced in House
All Actions (2)
Date
All Actions
05/27/2020
Referred to the House Committee on Financial Services. Action By: House of Representatives
05/27/2020
Introduced in House Action By: House of Representatives
05/27/2020 Referred to the House Committee on Financial Services.
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.
Committee / Subcommittee
Date
Activity
Reports
House Financial Services
05/27/2020
Referred to
Related Bills (0)
As of 12/11/2020 no related bill information has been received for H.R.7023 - To require the Secretary of the Treasury to implement a program that provides financial assistance to sports facilities, museums, and community theaters, and for other purposes.
This bill requires the Department of the Treasury to implement a program to provide financing of at least $1 billion for loans related to losses incurred as a result of COVID-19 (i.e., coronavirus disease 2019) to certain community-owned or private businesses that have contractual obligations for making lease, rent, or bond payments for publicly owned sports facilities, museums, and community theaters.
Terms for such loans shall include (1) a 15-year term, (2) no requirement to provide collateral or a guaranty, and (3) a maximum loan amount of $25 million. An applicant for such a loan must make a good faith certification that, among other things, (1) the loan request is necessary to support the recipient's ongoing operations; and (2) the recipient will use the loan for purposes directly connected to contracted services, including performances and sporting events.
All Summaries (1)
Shown Here: Introduced in House (05/27/2020)
This bill requires the Department of the Treasury to implement a program to provide financing of at least $1 billion for loans related to losses incurred as a result of COVID-19 (i.e., coronavirus disease 2019) to certain community-owned or private businesses that have contractual obligations for making lease, rent, or bond payments for publicly owned sports facilities, museums, and community theaters.
Terms for such loans shall include (1) a 15-year term, (2) no requirement to provide collateral or a guaranty, and (3) a maximum loan amount of $25 million. An applicant for such a loan must make a good faith certification that, among other things, (1) the loan request is necessary to support the recipient's ongoing operations; and (2) the recipient will use the loan for purposes directly connected to contracted services, including performances and sporting events.