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Point Roberts Small Business Fairness Act

12/30/2022, 5:32 PM

Summary of Bill HR 3760

Bill 117 HR 3760, also known as the Point Roberts Small Business Fairness Act, aims to provide support and assistance to small businesses in the Point Roberts area. The bill focuses on promoting economic growth and job creation by reducing regulatory burdens and increasing access to resources for small businesses.

Specifically, the bill includes provisions to streamline the permitting process for small businesses, making it easier for them to navigate the regulatory landscape. It also seeks to increase access to capital for small businesses in Point Roberts, helping them to grow and expand their operations.

Additionally, the bill includes measures to support workforce development and training programs for small businesses, ensuring that they have the resources they need to succeed in a competitive market. By providing these supports, the bill aims to level the playing field for small businesses in Point Roberts and help them thrive in the local economy. Overall, the Point Roberts Small Business Fairness Act is designed to create a more favorable environment for small businesses in the area, enabling them to grow, create jobs, and contribute to the economic prosperity of the community.

Congressional Summary of HR 3760

Point Roberts Small Business Fairness Act

This bill requires the Small Business Administration (SBA) to establish a program to make forgivable loans to certain small businesses that are impacted by border closures due to COVID-19 (i.e., coronavirus disease 2019).

Eligible small businesses must (1) have experienced a loss in revenue that is greater than 50% during the second, third, or fourth quarter of 2020 compared with the same period in the previous year; and (2) show that the closure of the U.S.-Canada border directly resulted in a reduction in gross receipts or restricted the ability of American customers to access the location of such businesses.

The maximum loan amount shall be equal to 75% of the business's FY2019 revenue, and the SBA shall forgive 100% of the value of such loan, less the amount the borrower received from (1) any other loan forgiveness program, or (2) any emergency advance under the economic impact disaster loan program.

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Current Status of Bill HR 3760

Bill HR 3760 is currently in the status of Bill Introduced since June 8, 2021. Bill HR 3760 was introduced during Congress 117 and was introduced to the House on June 8, 2021.  Bill HR 3760's most recent activity was Referred to the House Committee on Small Business. as of June 8, 2021

Bipartisan Support of Bill HR 3760

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
6
Democrat Cosponsors
6
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 3760

Primary Policy Focus

Commerce

Potential Impact Areas

- Border security and unlawful immigration
- Canada
- Cardiovascular and respiratory health
- Emergency medical services and trauma care
- Government lending and loan guarantees
- Infectious and parasitic diseases
- Small business

Alternate Title(s) of Bill HR 3760

Point Roberts Small Business Fairness Act
To direct the Administrator of the Small Business Administration to establish a forgivable loan program for certain businesses located near the United States and Canadian border, and for other purposes.
Point Roberts Small Business Fairness Act

Comments

Sponsors and Cosponsors of HR 3760

Suzan K. DelBene
Suzan K. DelBene
WashingtonDemocrat
Marilyn Strickland
Marilyn Strickland
WashingtonDemocrat
Rick Larsen
Rick Larsen
WashingtonDemocrat
Derek Kilmer
Derek Kilmer
WashingtonDemocrat

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