H.R. 6751 · 116th Congress
Caring for Startup Employees Act of 2020
- Stage
- In committee
- Sponsor
- Anna Eshoo
- Introduced
- 2020-05-08
- Latest action
- 2020-05-08 · Introduced in House
Summary
Caring for Startup Employees Act of 2020
This bill expands the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to encompass certain small businesses that have accepted funding from an investment company.
The investment company may not be a majority stakeholder of the small business, and the small business may not distribute any proceeds of a program loan to the investment company, including through dividends, redemptions, security repurchases, or other transfers or transactions.