Text: S.3782 — 116th Congress (2019-2020)All Information (Except Text)

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Considered and Passed Senate (05/20/2020)


116th CONGRESS
2d Session
S. 3782


To modify the amount authorized for commitments for 7(a) loans, and for other purposes.


IN THE SENATE OF THE UNITED STATES

May 20, 2020

Ms. Duckworth (for herself, Mr. Rubio, Mr. Coons, Mr. Risch, Mrs. Blackburn, Mr. Cardin, and Mrs. Shaheen) introduced the following bill; which was read twice, considered, read the third time, and passed


A BILL

To modify the amount authorized for commitments for 7(a) loans, 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. Short title.

This Act may be cited as the “Small Business Lending Continuity Act of 2020”.

SEC. 2. Commitments for 7(a) loans.

Notwithstanding any other provision of law, the amounts authorized for commitments for general business loans authorized under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) under the heading “business loans program account” under the heading “small business administration” under title V of the Consolidated Appropriations Act, 2020 (Public Law 116–93; 133 Stat. 2475) shall apply with respect to loans made under such section 7(a), other than loans made under paragraph (36) of such section 7(a), on and after the date of enactment of this Act.


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