Senate Bill Report on SHB 1957 — Small Business Disaster Recovery Financial Assistance (2/17/22)
Summary
Senate Bill Report on SHB 1957, as of February 10, 2022, for the Senate Committee on Business, Financial Services & Trade, with committee activity listed on 2/17/22. SHB 1957 is titled an act relating to establishing a small business disaster recovery financial assistance program, and the report says it passed the House 2/2/22, 96-0. The bill directs the Department of Commerce to develop and implement the program, providing grants to small businesses that have sustained physical damage or economic loss due to a natural disaster. Grant funds are permitted for payroll, utilities, rent, marketing and advertising, building improvements or repairs, and other operations and business expenses. Commerce must make assistance available to eligible businesses within three months of receiving an application.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
- Issuer
- Congressional materials
- Document type
- Report
- Date
- 2022-02-17
- Case
- 2022 02 17 A29814 D242768 Bill Report 1957 S Sba Bfst 22
Cite this document
“Senate Bill Report on SHB 1957 — Small Business Disaster Recovery Financial Assistance (2/17/22).”
Original at app.leg.wa.gov, dated 2022-02-17. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-02-17-2022-02-17-a29814-d242768-bill-report-1957-s-sba-bfst-22/
, SHA-256 cc4e901576193175f6aeb910c429349b9d5e3c7cc8b91594ded9099cd6d3f32d.Full text
SENATE BILL REPORT
SHB 1957
As of February 10, 2022
Title: An act relating to establishing a small business disaster recovery financial assistance
program.
Brief Description: Establishing a small business disaster recovery financial assistance program.
Sponsors: House Committee on Appropriations (originally sponsored by Representatives Rule,
Walen, Chapman, Santos, Simmons, Ramel, Johnson, J., Riccelli, Frame, Ormsby and
Harris-Talley).
Brief History: Passed House: 2/2/22, 96-0.
Committee Activity: Business, Financial Services & Trade: 2/17/22.
Brief Summary of Bill
• Creates a grant program for small businesses with gross receipts of $5
million or less that have been subject to a reduction in business income
or activity as a result of a natural disaster.
SENATE COMMITTEE ON BUSINESS, FINANCIAL SERVICES & TRADE
Staff: Clinton McCarthy (786-7319)
Background: The Department of Commerce (Commerce) serves as the state agency
responsible for supporting and promoting economic development throughout the state.
Among its economic development programs, Commerce offers technical assistance to small
businesses in areas such as business start-up processes, business operations, retirement
benefits, and trade and exports. Commerce also administers several capital assistance
programs for small businesses, including the federally funded State Small Business Credit
Initiative.
Commerce has also administered several small business financial assistance programs
This analysis was prepared by non-partisan legislative staff for the use of legislative
members in their deliberations. This analysis is not part of the legislation nor does it
constitute a statement of legislative intent.
Senate Bill Report -1- SHB 1957
authorized in early action legislation adopted during the 2021 legislative session and the
2021-2023 operating budget. The largest of these programs is the Working Washington
Grant program, which provides grants to small businesses that experienced a loss in revenue
or had to temporarily cease operations due to the COVID-19 pandemic, or state or local
actions in response to the pandemic. Grant funds can support costs such as rent and
utilities, payroll, workplace upgrades to adhere to new safety or sanitation standards,
securing inventory and supplies, and other operational costs.
Summary of Bill: The Department of Commerce is directed to develop and implement a
small business disaster recovery financial assistance program to provide resources through
grants to small businesses that have sustained physical damage or economic loss due to a
natural disaster. Grant funds are permitted to be used for:
• payroll;
• utilities;
• rent;
• marketing and advertising;
• building improvements or repairs;
• replacing damaged inventory or equipment; and
• other operations and business expenses.
To be eligible to receive a grant, a business must provide documentation that it has annual
gross receipts of $5 million or less. They must document that there has been a reduction in
business income or activity due to a natural disaster. Commerce must make assistance
available to eligible businesses within three months of receiving an application.
Commerce is also directed to coordinate with local economic development entities in
conducting outreach to small businesses to increase awareness and understanding of this
program.
Appropriation: None.
Fiscal Note: Available.
Creates Committee/Commission/Task Force that includes Legislative members: No.
Effective Date: Ninety days after adjournment of session in which bill is passed.
Senate Bill Report -2- SHB 1957
File and source
- File
- 2022-02-17_a29814_d242768_bill-report-1957-s-sba-bfst-22.pdf
- Size
- 7,610 bytes
- SHA-256
- cc4e901576193175f6aeb910c429349b9d5e3c7cc8b91594ded9099cd6d3f32d
- Original
- app.leg.wa.gov