H.R. 3760, Point Roberts Small Business Fairness Act
Summary
H.R. 3760, the Point Roberts Small Business Fairness Act, is a bill to direct the Administrator of the Small Business Administration to establish a forgivable loan program for certain businesses located near the United States and Canadian border. DelBene introduced it in the House of Representatives on June 8, 2021, and it was referred to the Committee on Small Business. A covered business is a small business concern located in the contiguous United States, within 75 miles of the border and only accessible by land via Canada. The Administrator would forgive 100 percent of the value of a loan, less amounts received from other loan forgiveness programs or an advance under section 1110 of the CARES Act.
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Cite this document
“H.R. 3760, Point Roberts Small Business Fairness Act.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-117hr3760ih-bills-117hr3760ih/
, SHA-256 63af4d367781cb2b98822081b9c2229c200790e52dcc251e668cb09f2fb28af3.Full text
I
117TH CONGRESS
1ST SESSION
H. R. 3760
To direct the Administrator of the Small Business Administration to establish
a forgivable loan program for certain businesses located near the United
States and Canadian border, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
JUNE 8, 2021
Ms. DELBENE 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 certain
businesses located near the United States and Canadian
border, 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 ‘‘Point Roberts Small
5 Business Fairness Act’’.
6 SEC. 2. DEFINITIONS.
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7 In this Act:
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2
1 (1) ADMINISTRATOR.—The term ‘‘Adminis-
2 trator’’ means the Administrator of the Small Busi-
3 ness Administration.
4 (2) COVERED BUSINESS.—The term ‘‘covered
5 business’’ means a small business concern (as de-
6 fined in section 3 of the Small Business Act (15
7 U.S.C. 632))—
8 (A) located in the contiguous United
9 States;
10 (B) located within 75 miles of the United
11 States and Canadian border; and
12 (C) only accessible by land via Canada.
13 SEC. 3. FORGIVABLE LOAN PROGRAM FOR COVERED BUSI-
14 NESSES.
15 (a) IN GENERAL.—The Administrator shall establish
16 a program to make forgivable loans available to covered
17 businesses that had gross receipts during the second,
18 third, or fourth quarter of 2020 that demonstrate a great-
19 er than 50 percent reduction from the gross receipts of
20 the entity during the same quarter in 2019.
21 (b) ELIGIBILITY.—To be eligible for a forgivable loan
22 under subsection (a), a covered business shall—
23 (1) have been in operation on March 1, 2020;
24 and
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1 (2) show that the closure of the United States
2 and Canadian border—
3 (A) directly resulted in a reduction in the
4 gross receipts of the covered business; or
5 (B) restricted the ability of customers to
6 access the location of the covered business.
7 (c) LOAN AMOUNT.—The maximum loan amount
8 under subsection (a) shall be equal to 75 percent of the
9 gross annual receipts for the covered business for fiscal
10 year 2019.
11 (d) FORGIVENESS.—Not later than 1 year after the
12 date of enactment of this Act, the Administrator shall for-
13 give 100 percent of the value of a loan made to a covered
14 business under subsection (a) less the amount the covered
15 business received from—
16 (1) any other loan forgiveness program, includ-
17 ing any program established under the CARES Act
18 (Public Law 116–136); or
19 (2) an advance under section 1110 of the
20 CARES Act (15 U.S.C. 9009).
Æ
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