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Remote Recreational Small Business Interruption Program Act

USA117th CongressS-1492| Senate 
| Updated: 4/29/2021
Tina Smith

Tina Smith

Democratic Senator

Minnesota

Cosponsors (2)
Amy Klobuchar (Democratic)Patty Murray (Democratic)

Small Business and Entrepreneurship Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Remote Recreational Small Business Interruption Program Act This bill requires the Small Business Administration (SBA) to establish a program to make forgivable loans to certain remote recreational businesses that are impacted by border closures due to COVID-19 (i.e., coronavirus disease 2019). Eligible remote recreational businesses must (1) have experienced a loss in revenue that is greater than 50% between March 1, 2020, and July 1, 2020, as compared with the same period in the previous year; and (2) show that the closure of the U.S.-Canada border restricted the ability of American customers to access the location of such businesses. The maximum loan amount shall be equal to 75% of the business's FY2019 revenue, and the SBA shall forgive 100% of the value of such loan, less the amount the borrower received from (1) any other loan forgiveness program, or (2) any emergency advance under the economic impact disaster loan program.
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Timeline

Bill from Previous Congress

S 116-4560
Remote Recreational Small Business Interruption Program Act
Apr 29, 2021
Introduced in Senate
Apr 29, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
  • Bill from Previous Congress

    S 116-4560
    Remote Recreational Small Business Interruption Program Act


  • April 29, 2021
    Introduced in Senate


  • April 29, 2021
    Read twice and referred to the Committee on Small Business and Entrepreneurship.

Commerce

Related Bills

  • HR 117-3760: Point Roberts Small Business Fairness Act
  • HR 117-3188: ANGLE Act
Border security and unlawful immigrationCanadaCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesOutdoor recreationSmall business

Remote Recreational Small Business Interruption Program Act

USA117th CongressS-1492| Senate 
| Updated: 4/29/2021
Remote Recreational Small Business Interruption Program Act This bill requires the Small Business Administration (SBA) to establish a program to make forgivable loans to certain remote recreational businesses that are impacted by border closures due to COVID-19 (i.e., coronavirus disease 2019). Eligible remote recreational businesses must (1) have experienced a loss in revenue that is greater than 50% between March 1, 2020, and July 1, 2020, as compared with the same period in the previous year; and (2) show that the closure of the U.S.-Canada border restricted the ability of American customers to access the location of such businesses. The maximum loan amount shall be equal to 75% of the business's FY2019 revenue, and the SBA shall forgive 100% of the value of such loan, less the amount the borrower received from (1) any other loan forgiveness program, or (2) any emergency advance under the economic impact disaster loan program.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 116-4560
Remote Recreational Small Business Interruption Program Act
Apr 29, 2021
Introduced in Senate
Apr 29, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
  • Bill from Previous Congress

    S 116-4560
    Remote Recreational Small Business Interruption Program Act


  • April 29, 2021
    Introduced in Senate


  • April 29, 2021
    Read twice and referred to the Committee on Small Business and Entrepreneurship.
Tina Smith

Tina Smith

Democratic Senator

Minnesota

Cosponsors (2)
Amy Klobuchar (Democratic)Patty Murray (Democratic)

Small Business and Entrepreneurship Committee

Commerce

Related Bills

  • HR 117-3760: Point Roberts Small Business Fairness Act
  • HR 117-3188: ANGLE Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Border security and unlawful immigrationCanadaCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesOutdoor recreationSmall business