S.4455 - Paycheck Protection Program Transparency Act of 2020116th Congress (2019-2020)
|Sponsor:||Sen. Harris, Kamala D. [D-CA] (Introduced 08/05/2020)|
|Committees:||Senate - Small Business and Entrepreneurship|
|Latest Action:||Senate - 08/05/2020 Read twice and referred to the Committee on Small Business and Entrepreneurship. (All Actions)|
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Summary: S.4455 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (08/05/2020)
Paycheck Protection Program Transparency Act of 2020
This bill requires the Small Business Administration (SBA) to disclose and report certain information related to the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the SBA must establish a website that contains specified borrower information such as the name, location, and number of employees of each borrower of a paycheck protection loan. The SBA must establish a second website that contains specified lender information such as the number of loans disbursed and total fees collected by each paycheck protection lender. Additionally, the SBA must report to Congress on the status of paycheck protection loans.