MOM-AND-POP Act

Maximizing Our Money and Addressing Novel Disasters by Protecting Our Proprietors Act or the MOM-AND-POP Act

This bill reserves assistance under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), for specified small entities.

Specifically, the bill establishes a set-aside of at least 25% of amounts appropriated for paycheck protection loans to guarantee loans of $150,000 or less made to small entities such as a (1) business or nonprofit with 25 employees or fewer, (2) sole proprietor, or (3) self-employed individual.

The Small Business Administration must consider implementing a similar set-aside for any future loan programs created in direct response to a major disaster.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6960 Introduced in House (IH)]

<DOC>






116th CONGRESS
  2d Session
                                H. R. 6960

   To require the Administrator of the Small Business Administration 
reserve amounts appropriated under the paycheck protection program for 
                small entities, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 22, 2020

  Mr. Bilirakis (for himself and Ms. Blunt Rochester) introduced the 
 following bill; which was referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
   To require the Administrator of the Small Business Administration 
reserve amounts appropriated under the paycheck protection program for 
                small entities, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Maximizing Our Money and Addressing 
Novel Disasters by Protecting Our Proprietors Act'' or the ``MOM-AND-
POP Act''.

SEC. 2. RESERVATION OF ASSISTANCE FOR SMALL ENTITIES.

    (a) Set Aside.--Of amounts appropriated to carry out section 
7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)), the 
Administrator of the Small Business Administration shall provide for 
the cost to guarantee covered loans made under this paragraph a set 
aside of not less than 25 percent for covered loans with a principal 
amount of $150,000 or less made to a small entity.
    (b) Waiver of Affiliation Rules.--The waiver of affiliation rules 
under section 7(a)(36)(D)(iv) of the Small Business Act (15 U.S.C. 
636(a)(36)(D)(iv)) shall not apply to a small entity that receives a 
covered loan because of a set aside under subsection (a).
    (c) Major Disasters.--For any loan program created after the date 
of the enactment of this Act by the Administrator in direct response to 
a major disaster, as determined by the President under the Robert T. 
Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5121 
et seq.), the Administrator shall consider implementing a set aside 
similar to that described under subsection (a) for such loan program.
    (d) Definitions.--In this Act:
            (1) Small entity.--The term ``small entity'' means--
                    (A) a business concern, nonprofit organization, 
                veterans organization, or Tribal business concern with 
                not more than 25 employees; or
                    (B) a sole proprietor, independent contractor, or 
                eligible self-employed individual (as such terms are 
                under section 7(a)(36) of the Small Business Act (15 
                U.S.C. 636(a)(36))).
            (2) Employee.--The term ``employee'' includes individuals 
        employed on a full-time, part-time, or other basis.
                                 <all>