Section 1 Short title
This Act may be cited as the “STEP Reimbursement Act of 2020”.
STEP Reimbursement Act of 2020
A BILL
To provide relief for State Trade Expansion Program grant recipients relating to COVID–19, and for other purposes.
Sec. 2 Considerations for State Trade Expansion Program relating to COVID–19
Reimbursement— The Administrator of the Small Business Administration shall reimburse any recipient of assistance under section 22(l) of the Small Business Act (15 U.S.C. 649(l)) for financial losses relating to a foreign trade mission or a trade show exhibition that was cancelled solely due to a public health emergency declared due to COVID–19.
in subparagraph (D)(i), by inserting “, including a budget plan for use of funds awarded under this subsection” before the period at the end; and
by adding at the end the following new subparagraph:
“(E) Budget plan revisions
“(i) In general—A State receiving a grant under this subsection may revise the budget plan of the State submitted under subparagraph (D) after the disbursal of grant funds if—
“(I) the revision complies with allowable uses of grant funds under this subsection; and
“(II) such State submits notification of the revision to the Associate Administrator.
“(ii) Exception—If a revision under clause (i) reallocates 10 percent or more of the amounts described in the budget plan of the State submitted under subparagraph (D), the State may not implement the revised budget plan without the approval of the Associate Administrator, unless the Associate Administrator fails to approve or deny the revised plan within 10 days after receipt of such revised plan.”
Funding— The Administrator of the Small Business Administration may use amounts appropriated to carry out the State Trade Expansion Program established under section 22(l) of the Small Business Act (15 U.S.C. 649(l)) for fiscal years 2018 and 2019 that remain unobligated or unexpended to carry out the State Trade Expansion Program through the end of fiscal year 2021.