H.R. 7845 — Remote Recreational Small Business Interruption Program (July 29, 2020)
Summary
House bill 7845 of the 116th Congress, 2D Session, is the Remote Recreational Small Business Interruption Program, a bill to direct the Administrator of the Small Business Administration to establish a forgivable loan program for remote recreational businesses. Peterson introduced it on July 29, 2020, and it was referred to the Committee on Small Business. The loans are for remote recreational businesses that experienced a loss in revenue greater than 50 percent between March 1, 2020, and July 1, 2020. The maximum loan amount equals 75 percent of the remote recreational gross annual receipts for fiscal year 2019, and the Administrator shall forgive 100 percent of the value. A remote recreational business is located within 75 miles of the United States and Canadian border.
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Cite this document
“H.R. 7845 — Remote Recreational Small Business Interruption Program (July 29, 2020).”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-116hr7845ih-bills-116hr7845ih/
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I
116TH CONGRESS
2D SESSION
H. R. 7845
To direct the Administrator of the Small Business Administration to establish
a forgivable loan program for remote recreational businesses, and for
other purposes.
IN THE HOUSE OF REPRESENTATIVES
JULY 29, 2020
Mr. PETERSON introduced the following bill; which was referred to the
Committee on Small Business
A BILL
To direct the Administrator of the Small Business Adminis-
tration to establish a forgivable loan program for remote
recreational businesses, and for other purposes.
1 Be it enacted by the Senate and House of Representa-
2 tives of the United States of America in Congress assembled,
3 SECTION 1. SHORT TITLE.
4 This Act may be cited as the ‘‘Remote Recreational
5 Small Business Interruption Program’’.
6 SEC. 2. FORGIVABLE LOAN PROGRAM FOR REMOTE REC-
7 REATIONAL BUSINESSES.
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8 (a) IN GENERAL.—The Administrator shall establish
9 a program to make forgivable loans available to remote
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1 recreational businesses that experienced a loss in revenue
2 that is greater than 50 percent during the period between
3 March 1, 2020, and July 1, 2020, as compared with the
4 same period during previous year.
5 (b) ELIGIBILITY.—To be eligible for a forgivable
6 loan, a remote recreational business must—
7 (1) have been in operation on March 1, 2020;
8 and
9 (2) show that the closure of the United States
10 and Canadian border restricted the ability of Amer-
11 ican customers to access the location of the remote
12 recreational business.
13 (c) LOAN AMOUNT.—The maximum loan amount
14 shall be equal to 75 percent of the remote recreational
15 gross annual receipts for fiscal year 2019.
16 (d) FORGIVENESS.—Not later than 1 calendar year
17 from the date of enactment of this Act, the Administrator
18 shall forgive 100 percent of the value of a loan received
19 less the amount the borrower received from—
20 (1) any other loan forgiveness program, includ-
21 ing any program established under the CARES Act
22 (Public Law 116–136); and
23 (2) an advance received under section 1110 of
24 the CARES Act (15 U.S.C. 9009).
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1 SEC. 3. DEFINITIONS.
2 In this Act:
3 (1) ADMINISTRATOR.—The term ‘‘Adminis-
4 trator’’ means the Administrator of the Small Busi-
5 ness Administration.
6 (2) ADMINISTRATION.—The term ‘‘remote rec-
7 reational business’’ means a business in the contig-
8 uous United States that is—
9 (A) a small business concern (as defined
10 under section 3 of the Small Business Act (15
11 U.S.C. 632)) operating in the recreational in-
12 dustry;
13 (B) located within 75 miles of the United
14 States and Canadian border; and
15 (C) is only accessible by land via Canada.
Æ
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