S. 3531 (Introduced in Senate) — Small Business Relief From Communicable Disease Induced Economic Hardship Act of 2020

This Act may be cited as the “Small Business Relief From Communicable Disease Induced Economic Hardship Act of 2020”.

(a)

Definition of a disaster— Section 3(k)(2) of the Small Business Act (15 U.S.C. 632(k)(2)) is amended—

(1)

in subparagraph (B), by striking “and” at the end;

(2)

in subparagraph (C), striking the period and inserting “; and”; and

(3)

by adding at the end the following:

“(D) a communicable disease for which the Federal Government has issued a travel alert or travel warning.”

(b)

Terms— Section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) is amended—

(1)

in subparagraph (D), by striking the period at the end and inserting “; or”;

(2)

by inserting after subparagraph (D) the following:

“(E) a disaster described in section 3(k)(2)(D) for which the Federal Government has issued a public health emergency.”

(3)

by adding at the end the following: “A loan made pursuant to a disaster described in subparagraph (E) shall not require the payment of interest.”.

(c)

Applicability— The amendments made by this section shall apply to a communicable disease—

(1)

for which the Federal Government issues a travel alert or travel warning before, on, or after the date of enactment of this Act; and

(2)

the effects of which are experienced on or after the date of enactment of this Act.

Small Business Relief From Communicable Disease Induced Economic Hardship Act of 2020