What is the current status of S 1047?

S 1047 is currently: In Senate.

Who sponsored S 1047?

S 1047 was sponsored by Todd Young (R), Sen.

Bars Fraud Convicts from Small Business Aid

IntroducedN/A

In Senate1 year ago

Intro

Senate

House

Pres

Waiting for a House floor vote.

It has cleared committee and can be brought up at any time, though no date is set.

CommerceGovernment lending and loan guaranteesCriminal investigation, prosecution, interrogationFraud offenses and financial crimesSmall businessCredit and credit markets

Why This Matters

This bill prevents anyone convicted of defrauding the government from getting financial support from the Small Business Administration.

If you are convicted of fraud against the government, you will lose access to Small Business Administration funds.

Who this affects

Individuals · Small businesses

What changes is this bill making?

1Individuals convicted of defrauding the government cannot receive financial help from the Small Business Administration.
2Small businesses with convicted associates will also be ineligible for this assistance.
3This law targets crimes related to financial misconduct and false statements about loans or grants.
4The prohibition applies to various types of loans and grants, especially those related to the COVID-19 pandemic.
5The law does not affect agreements made before this bill becomes law.

Read full document

Last changed 1 month ago · checked hourly

Bars Fraud Convicts from Small Business Aid

IntroducedN/A

In Senate1 year ago

Intro

Senate

House

Pres

Waiting for a House floor vote.

It has cleared committee and can be brought up at any time, though no date is set.

CommerceGovernment lending and loan guaranteesCriminal investigation, prosecution, interrogationFraud offenses and financial crimesSmall businessCredit and credit markets

Why This Matters

This bill prevents anyone convicted of defrauding the government from getting financial support from the Small Business Administration.

If you are convicted of fraud against the government, you will lose access to Small Business Administration funds.

Who this affects

Individuals · Small businesses

What changes is this bill making?

1Individuals convicted of defrauding the government cannot receive financial help from the Small Business Administration.
2Small businesses with convicted associates will also be ineligible for this assistance.
3This law targets crimes related to financial misconduct and false statements about loans or grants.
4The prohibition applies to various types of loans and grants, especially those related to the COVID-19 pandemic.
5The law does not affect agreements made before this bill becomes law.

Read full document

Last changed 1 month ago · checked hourly