118th Congress · SENATE BILLBILL

S. 1142 — SBA Collections Act of 2023

“A bill to prohibit the Small Business Administration from suspending collections on Paycheck Protection Program loans and economic injury disaster loans related to COVID-19.”

Commerce

Introduced Mar 30, 2023

Last action Mar 30, 2023

Pipeline · Bill → Law

Step 1

Introduced

Mar 30, 2023

Step 2

Referred

Mar 30, 2023

Small Business and Entrepreneurship

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill prohibits the Small Business Administration (SBA) from discharging, suspending, or ending collection action on any claim related to a Paycheck Protection Program (PPP) loan or Economic Injury Disaster Loan (EIDL). Additionally, the SBA must refer such claims that are for $100,000 or less to the Department of the Treasury and Treasury must make a final decision for the disposition of such claims. The SBA must provide monthly briefings to, and the SBA Administrator must annually testify before, the Committee on Small Business and Entrepreneurship of the Senate and the Committee on Small Business of the House of Representatives about the collection of claims for such loans.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Mar 30, 2023

Introduced in Senate

Mar 30, 2023

Read twice and referred to the Committee on Small Business and Entrepreneurship.