Assisting Small Businesses Not Fraudsters Act
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.
Williams (TX) moved to suspend the rules and pass the bill.
(consideration: CR H737-739)
Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
(consideration: CR H748)
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 405 - 0 (Roll no. 43). (text: CR H737)
(2/3 required): 405 - 0 (Roll no. 43). (text: CR H737)