RESTAURANTS Act of 2020

Hozzl · 2022-02-08T23:16:54Z

Explore the details of House Bill 7197 RESTAURANTS Act of 2020 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

2/8/2022, 11:16 PM

Congressional Summary of HR 7197

Real Economic Support That Acknowledges Unique Restaurant Assistance Needed To Survive Act of 2020 or the RESTAURANTS Act of 2020

This bill temporarily establishes and provides funding for the Restaurant Revitalization Fund, from which the Department of the Treasury shall make grants to eligible food and beverage purveyors to cover specified costs.

The amount of such a grant shall be reduced by the amount of (1) any emergency grant received for an economic injury disaster loan, or (2) any paycheck protection loan amount forgiven under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

For the grant program's initial period, Treasury must (1) prioritize awarding grants to marginalized and underrepresented communities, and (2) only award grants to eligible food and beverage purveyors with annual revenues of less than $1.5 million.

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Current Status of Bill HR 7197

Bill HR 7197 is currently in the status of Bill Introduced since June 15, 2020. Bill HR 7197 was introduced during Congress 116 and was introduced to the House on June 15, 2020. Bill HR 7197's most recent activity was Sponsor introductory remarks on measure. (CR H2598-2599) as of June 29, 2020

Bipartisan Support of Bill HR 7197

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

217

Democrat Cosponsors

205

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7197

Primary Policy Focus

Commerce

Potential Impact Areas

- Appropriations

- Business expenses

- Cardiovascular and respiratory health

- Economic performance and conditions

- Emergency medical services and trauma care

- Food industry and services

- Government lending and loan guarantees

- Government trust funds

- Income tax exclusion

- Infectious and parasitic diseases

- Minority and disadvantaged businesses

- Small business

- Wages and earnings

- Women in business

Alternate Title(s) of Bill HR 7197

RESTAURANTS Act of 2020

To establish a $120,000,000,000 Restaurant Revitalization Fund to provide structured relief to food service or drinking establishments through December 31, 2020, and for other purposes.

RESTAURANTS Act of 2020

Real Economic Support That Acknowledges Unique Restaurant Assistance Needed To Survive Act of 2020