A bill to expand the payment of principal, interest, and fees for certain disaster loans under the CARES Act, and for other purposes.
Loan Interest Forgiveness for Taxpayers Under a Pandemic Act of 2020 or the LIFT UP Act
This bill modifies specified debt relief made available to small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the Small Business Administration must pay the principal, interest, and any associated fees that are owed on certain disaster loans made to small businesses prior and unrelated to COVID-19 for a six-month period.
Referred to the House Committee on Small Business.
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
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