1. Short Title
This Act may be cited as the “Abortion Providers Loan Elimination Act”.
Abortion Providers Loan Elimination Act
A BILL
To amend the Small Business Act to prohibit abortion providers from receiving a covered loan under the paycheck protection program, and for other purposes.
2. Findings
Congress finds the following:
The Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136) disqualified affiliations from applying for and receiving loans through the paycheck protection program.
Section 7(a)(36)(D)(vi) of the Small Business Act (15 U.S.C. 7(a)(36)(D)(vi)), as added by the Coronavirus Aid, Relief, and Economic Security Act, established that affiliation rules apply to nonprofits for the purpose of determining whether a nonprofit has 500 or fewer employees.
Planned Parenthood Federation of America, a national organization with central control over its affiliates and which has nearly $2,000,000,000 in assets and 16,000 employees, improperly applied for, and received $80,000,000 in loans through the paycheck protection program.
3. Paycheck Protection Program
In General— Section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) is amended by adding at the end the following:
“(T) Prohibition on Covered Loans for Abortion Providers
“(i) In General—Except as provided in clause (ii), no individual or entity that provides abortions shall be eligible to receive a covered loan.
“(ii) Exceptions—Clause (i) shall not apply to—
“(I) a hospital, as defined in section 1861(e) of the Social Security Act; or
“(II) an entity that exclusively provides abortions described in section 507(a) of the Further Consolidated Appropriations Act, 2020.”
Effective Date— The amendment made by this section shall be effective as if included in the enactment of the CARES Act (Public Law 116–136).
4. Inspector General report
Not later than 6 months after the date of the enactment of this Act, the Inspector General of the Small Business Administration shall conduct an investigation and submit to Congress a report on the number of covered loans made to the Planned Parenthood Federation of America pursuant to section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)) and to other individuals or entitities that provide abortions.