SENATE BILL: More Money for Hurting Small Businesses Act (Passed)

[Southern Senator North Carolina Yankee]

SENATE BILL

To concur with the House of Representatives on passage of HB23:04 and bring needed relief to small business owners struggling with the loss of business during the efforts to mitigate the current Covid-19 pandemic

Be it enacted in both Houses of Congress Assembled,

More Money for Hurting Small Businesses Act.

1. $350,000,000,000 shall be available until expended, that such amounts shall be transferred to the Small Business Administration to make economic injury disaster loans to small businesses. The maximum loan amount shall be the lesser of—

(1) the product obtained by multiplying—

(A) the average total monthly payments by the applicant for payroll, mortgage payments, rent payments, and payments on any other debt obligations incurred during the 1 year period before the date on which the loan is made, except that, in the case of an applicant that is seasonal employer, as determined by the Administrator, the average total monthly payments for payroll shall be for the period beginning March 1, 2019 and ending June 30, 2019; by

(B) 4; or

(2) $10,000,000.

An eligible recipient shall be eligible for forgiveness of indebtedness on these loan in an amount equal to the cost of maintaining payroll continuity during the covered period.

2. Section 5 of the Coronavirus Containment and Emergency Response Act shall be amended as follows:

Section 5. Mandatory Medical Paid Leave

(a.) All employed people in Atlasia who have been diagnosed with coronavirus or are caring for family members with coronavirus must receive two-thirds of their wages for up to three months.
(i) For businesses with up to 250 employees, these wage payments shall be paid by the Atlasian federal government.
(ii) For businesses with 251-500 employees, 50% of these wage payments shall be paid by the Atlasian federal government.

House of Representatives
Passed the House of Representatives 6-0-1-2

Sponsor: NC Yankee
Senate Designation: SB23:12

[Southern Senator North Carolina Yankee]

This expedites passage of the house text as passed in the other chamber. It provides assistance to small businesses who make up the backbone of our economy and employ anywhere from 50% to 66% of workers depending on what study you look at and make up half of our GDP. If we expect to have a quick rebound, we cannot afford to let these businesses collapse in the interim. That will eliminate jobs and cause substantial elongation of the hardship as entrepreneurs have to start from scratch and build back up over the long haul.

[Southern Senator North Carolina Yankee]

I ask that the rules be waived and a final vote proceeded to immediately. Senators have 24 hours to object.

[Former President tack50]

No objection

[Southern Senator North Carolina Yankee]

A final vote is now open on this legislation, Senators please vote Aye, Nay or Abstain.

[Southern Senator North Carolina Yankee]

AYE

[The world will shine with light in our nightmare]

Aye

[At-Large Senator LouisvilleThunder]

Aye

[Former President tack50]

Aye

[Southern Senator North Carolina Yankee]

Going to be closing this soon, so be sure to vote if you haven't yet.

[Pyro]

Abstain

[Devout Centrist]

Aye

[Southern Senator North Carolina Yankee]

Final Vote on the Passage of More Money for Hurting Small Business Act:

Aye (5): Devout Centrist, LT, NC Yankee, Scott and Tack50
Nay (0):
Abstain (1): Pyro

Didn't Vote (0):

This bill has passed the Senate and is sent to the VP for executive action.

[Southern Senator North Carolina Yankee]

SENATE BILL

To concur with the House of Representatives on passage of HB23:04 and bring needed relief to small business owners struggling with the loss of business during the efforts to mitigate the current Covid-19 pandemic

Be it enacted in both Houses of Congress Assembled,

More Money for Hurting Small Businesses Act.

1. $350,000,000,000 shall be available until expended, that such amounts shall be transferred to the Small Business Administration to make economic injury disaster loans to small businesses. The maximum loan amount shall be the lesser of—

(1) the product obtained by multiplying—

(A) the average total monthly payments by the applicant for payroll, mortgage payments, rent payments, and payments on any other debt obligations incurred during the 1 year period before the date on which the loan is made, except that, in the case of an applicant that is seasonal employer, as determined by the Administrator, the average total monthly payments for payroll shall be for the period beginning March 1, 2019 and ending June 30, 2019; by

(B) 4; or

(2) $10,000,000.

An eligible recipient shall be eligible for forgiveness of indebtedness on these loan in an amount equal to the cost of maintaining payroll continuity during the covered period.

2. Section 5 of the Coronavirus Containment and Emergency Response Act shall be amended as follows:

Section 5. Mandatory Medical Paid Leave

(a.) All employed people in Atlasia who have been diagnosed with coronavirus or are caring for family members with coronavirus must receive two-thirds of their wages for up to three months.
(i) For businesses with up to 250 employees, these wage payments shall be paid by the Atlasian federal government.
(ii) For businesses with 251-500 employees, 50% of these wage payments shall be paid by the Atlasian federal government.

House of Representatives
Passed the House of Representatives 6-0-1-2


People's Regional Senate
Passed 5-0-1 in the Atlasian Senate Assembled,

[thumb21]

This also needs a presidential/vice presidental signature

[thumb21]

Bump