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EconomyH.R. 825Comments

Assisting Small Businesses Not Fraudsters Act

Official title: To prohibit individuals convicted of defrauding the Government from receiving any assistance from the Small Business Administration, and for other purposes.

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Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, done
  4. Outcome, current stage

How Congress Voted

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What This Bill Does

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.

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. SenateReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
  2. House floor actionsMr. Williams (TX) moved to suspend the rules and pass the bill.
  3. Floor Vote
  4. Passed the House
  5. Library of CongressIntroduced in House
  6. House floor actionsReferred to the House Committee on Small Business.
  7. Introduced
  8. Committee

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