Border Business COVID–19 Rescue Act
- Last Action
- 2/12/2021
Actions
- 2021-02-12Read twice and referred to the Committee on Finance.
- 2021-02-12Introduced in Senate
CRS Summary
As of 2021-02-12 (00)
Border Business COVID-19 Rescue Act
This bill requires the Small Business Administration to establish a loan program to assist border businesses that are directly impacted by the COVID-19 (i.e., coronavirus disease 2019) pandemic. For the purposes of this bill, the term border business refers to a business that (1) is eligible for an economic injury disaster loan, (2) has its principal office located in the contiguous United States and is located within 25 miles of the U.S. border, (3) has fewer than 50 employees and annual revenue of $1 million or less, and (4) demonstrates a reduction in revenue from specified prior periods.
Recipients must use loan funds for purposes related to COVID-19 such as (1) providing sick leave to employees, (2) meeting increased costs arising from interrupted supply chains, or (3) paying for logistical expenses associated with border closures.
Cosponsors (2)
- John Cornyn (R-TX)
- Amy Klobuchar (D-MN)
Subjects
- Arizona
- Business expenses
- California
- Cardiovascular and respiratory health
- Emergency medical services and trauma care
- Employee leave
- Foreign language and bilingual programs
- Government lending and loan guarantees
- Infectious and parasitic diseases
- New Mexico
- Small business
- Texas
- Wages and earnings
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.