Relief for Small Businesses and Nonprofits Act

Summary

Relief for Small Businesses and Nonprofits Act This bill places restrictions on the collection of debts owed by small businesses and nonprofit organizations during the COVID-19 (i.e., coronavirus disease 2019) emergency period. Among other things, debt collectors may not during such a period enforce a security interest through a repossession or foreclosure, commence or continue litigation to collect a debt, terminate utility service, seize assets, commence or continue an eviction, or charge fees or apply a higher interest rate as a result of nonpayment. After such a period, debt collectors must provide certain repayment options including extending the repayment period for debts. Violations of these provisions are subject to civil enforcement. The Federal Reserve Board must establish a facility to compensate loan holders for losses caused by the suspension of payments.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 March 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 March 2020

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 23 March 2020

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.