A bill to amend the CARES Act to permit the Secretary of the Treasury to purchase, or to enable the purchase of, preferred equity positions in commercial real estate entities, and for other purposes.
Preserving Equity on Main Street Act of 2020
This bill authorizes the Department of the Treasury to directly purchase, or provide guarantees to enable the purchase of, preferred equity positions in commercial real estate companies that require capital to satisfy outstanding debt obligations. Treasury may take these actions in order to provide assistance related to losses incurred as a result of COVID-19 (i.e., coronavirus disease 2019).
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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