H.R.7197 - 116th Congress (2019-2020): RESTAURANTS Act of 2020

Summary

Congress.gov record for H.R.7197, the Real Economic Support That Acknowledges Unique Restaurant Assistance Needed To Survive Act of 2020, or RESTAURANTS Act of 2020, introduced 06/15/2020 by Rep. Earl Blumenauer. According to the CRS summary, it would create a Restaurant Revitalization Fund from which Treasury would make grants to eligible food and beverage purveyors. Grants would be reduced by any EIDL emergency grant and any forgiven Paycheck Protection Program amount. In the initial period, Treasury would prioritize marginalized and underrepresented communities and fund only purveyors with annual revenues of less than $1.5 million.

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

Full text

H.R.7197 - RESTAURANTS Act of 2020 116th Congress (2019-2020)

Bill

Hide Overview

Sponsor: | Rep. Blumenauer, Earl [D-OR-3] (Introduced 06/15/2020)
Committees: | House - Financial Services; Ways and Means; Budget
Committee Meetings: | 09/22/20 10:30AM
Latest Action: | 06/29/2020 Sponsor introductory remarks on measure. (CR H2598-2599 ) ( All Actions )
Tracker: Tip | This bill has the status Introduced Here are the steps for Status of Legislation: Introduced

More on This Bill

Subject — Policy Area:

- Commerce
- View subjects

Related CRS Products:

Summary: H.R.7197 — 116th Congress (2019-2020) All Information (Except Text)

There is one summary for H.R.7197. Bill summaries are authored by CRS .

Shown Here: Introduced in House (06/15/2020)

Real Economic Support That Acknowledges Unique Restaurant Assistance Needed To Survive Act of 2020 or the RESTAURANTS Act of 2020

This bill temporarily establishes and provides funding for the Restaurant Revitalization Fund, from which the Department of the Treasury shall make grants to eligible food and beverage purveyors to cover specified costs.

The amount of such a grant shall be reduced by the amount of (1) any emergency grant received for an economic injury disaster loan, or (2) any paycheck protection loan amount forgiven under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

For the grant program's initial period, Treasury must (1) prioritize awarding grants to marginalized and underrepresented communities, and (2) only award grants to eligible food and beverage purveyors with annual revenues of less than $1.5 million.

File and source

File

7197_ff29b4d33506a126.html

Size

355,992 bytes

SHA-256

9d431903702ea6198bc72c2ce8f245d5e2b5ad96782b6e34d67dbe96a85028ff

Our copy

7197_ff29b4d33506a126.html

Original

No public link identified.