To prohibit individuals convicted of defrauding the Government from receiving any assistance from the Small Business Administration, and for other purposes.
- Last Action
- 11/29/2023
Actions
- 2023-11-29Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
- 2023-11-28Motion to reconsider laid on the table Agreed to without objection.
- 2023-11-28On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5917)
- 2023-11-28Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H5917)
- 2023-11-28DEBATE - The House proceeded with forty minutes of debate on H.R. 5427.
- 2023-11-28Considered under suspension of the rules. (consideration: CR H5917-5919)
- 2023-11-28Mr. Williams (TX) moved to suspend the rules and pass the bill.
- 2023-09-26Placed on the Union Calendar, Calendar No. 178.
- 2023-09-26Reported by the Committee on Small Business. H. Rept. 118-219.
- 2023-09-26Reported by the Committee on Small Business. H. Rept. 118-219.
- 2023-09-14Ordered to be Reported by the Yeas and Nays: 22 - 0.
- 2023-09-14Committee Consideration and Mark-up Session Held
- 2023-09-13Referred to the House Committee on Small Business.
- 2023-09-13Introduced in House
- 2023-09-13Introduced in House
CRS Summary
As of 2023-11-28 (53)
This bill prohibits individuals convicted of certain financial crimes from receiving assistance from the Small Business Administration (SBA).
Specifically, the bill prohibits individuals who have been convicted of a crime involving financial misconduct or a false statement with respect to certain COVID-19 loans (e.g., Paycheck Protection Program loans, Restaurant Revitalization Fund grants, and Shuttered Venue Operators grants) from receiving any financial assistance from the SBA (other than a disaster loan).
The prohibition includes SBA assistance to small businesses that have an owner, officer, director, or key employee who has been convicted of such a crime.
Cosponsors (2)
- KWEISI MFUME (D-MD)
- Aaron Bean (R-FL)
Subjects
- Credit and credit markets
- Criminal investigation, prosecution, interrogation
- Fraud offenses and financial crimes
- Government lending and loan guarantees
- Small business
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.