A bill to expand the waiver of affiliation rules for certain business concerns with more than 1 physical location, and for other purposes.
Local News and Emergency Information Act of 2020
This bill expands the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to include certain newspaper publishers, radio stations, and television broadcasters.
Specifically, such a media purveyor is eligible to receive a paycheck protection loan if (1) the individual physical location that applies for the loan does not exceed Small Business Administration size standards (up to 1,000 employees for newspaper publishers and $41.5 million in gross receipts for radio and television broadcasters); and (2) the proceeds of the loan are used to support the continued provision of local news, information, content, or emergency information. Such a recipient may not remit any portion of a paycheck protection loan to any entity other than the individual physical location that is the loan's intended recipient.
Referred to the House Committee on Small Business.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
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