,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fcfa  ,,in ,,the ,,house ,,of  
,,representatives  ,march #bc1 #bjbj    
,mr4 ,perlmutter introduced the         
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to provide loan and         
obligation payment relief for small     
businesses and nonprofits affected by   
the ,,covid-#ai emergency1 and for other
 purposes4  #a4 ,short title ,this ,act 
may be cited as the ,relief for ,small  
,businesses and ,nonprofits ,act4  #b4  
,loan and obligation payment relief for 
affected small businesses and nonprofits
  7a7 ,in general  7#a7 ,in general     
,during the ,,covid-#ai emergency1 a    
debt collector may not1 with respect to 
a debt of a small business or nonprofit 
7other than debt related to a federally 
related mortgage loan7--  7,a7          
capitalize unpaid interest2  7,b7 apply 
a higher interest rate triggered by the 
nonpayment of a debt to the debt        
balance2  7,c7 charge a fee triggered by

 the nonpayment of a debt2  7,d7 sue or 
threaten to sue for nonpayment of a     
debt2  7,e7 continue litigation to      
collect a debt that was initiated before
 the date of enactment of this section2 
7,f7 submit or cause to be submitted a  
confession of judgment to any court2    
7,g7 enforce a security interest through
 repossession1 limitation of use1 or    
foreclosure2  7,h7 take or threaten to  
take any action to enforce collection1  
or any adverse action for nonpayment of 
a debt1 or for nonappearance at any     
hearing relating to a debt2  7,i7       
commence or continue any action to cause
 or to seek to cause the collection of a
 debt1 including pursuant to a court    
order issued before the end of the      
#abj-;day period following the end of   
the ,,covid-#ai emergency1 from wages1  
,federal benefits1 or other amounts due 
to a small business or nonprofit by way 
of garnishment1 deduction1 offset1 or   
other seizure2  7,j7 cause or seek to   
cause the collection of a debt1         

including pursuant to a court order     
issued before the end of the #abj-;day  
period following the end of the         
,,covid-#ai emergency1 by levying on    
funds from a bank account or seizing any
 other assets of a small business or    
nonprofit2  7,k7 commence or continue an
 action to evict a small business or    
nonprofit from real or personal         
property2 or  7,l7 disconnect or        
terminate service from utility service1 
including electricity1 natural gas1     
telecommunications or broadband1 water1 
or sewer4  7#b7 ,rule of construction   
,nothing in this subsection may be      
construed to prohibit a small business  
or nonprofit from voluntarily paying1 in
 whole or in part1 a debt4  7#c7        
,repayment period ,after the expiration 
of the ,,covid-#ai emergency1 with      
respect to a debt described under       
paragraph 7#a71 a debt collector--  7,a7
 may not add to the debt balance any    
interest or fee prohibited by paragraph 
7#a72  7,b7 shall1 for credit with a    

defined term or payment period1 extend  
the time period to repay the debt       
balance by #a payment period for each   
payment that a small business or        
nonprofit missed during the ,,covid-#ai 
emergency1 with the payments due in the 
same amounts and at the same intervals  
as the pre-existing payment schedule2   
7,c7 shall1 for an open end credit plan 
7as defined under section #ajc of the   
,truth in ,lending ,act7 or other credit
 without a defined term1 allow the small
 business or nonprofit to repay the debt
 balance in a manner that does not      
exceed the amounts permitted by formulas
 under section #agj7;c7 of the ,truth in
 ,lending ,act and regulations          
promulgated thereunder2 and  7,d7 shall1
 when the small business or nonprofit   
notifies the debt collector1 offer      
reasonable and affordable repayment     
plans1 loan modifications1 refinancing1 
options with a reasonable time in which 
to repay the debt4  7#d7 ,communications
 in connection with the collection of a 

debt  7,a7 ,in general ,during the      
,,covid-#ai emergency1 without prior    
consent of a small business or nonprofit
 given directly to a debt collector     
during the ,,covid-#ai emergency1 or the
 express permission of a court of       
competent jurisdiction1 a debt collector
 may only communicate in writing in     
connection with the collection of any   
debt 7other than debt related to a      
federally related mortgage loan74  7,b7 
,required disclosures  7i7 ,in general  
,all written communications described   
under subparagraph 7,a7 shall inform the
 small business or nonprofit that the   
communication is for informational      
purposes and is not an attempt to       
collect a debt4  7ii7 ,requirements ,the
 disclosure required under clause 7i7   
shall be made-- 7,i7 in type or         
lettering not smaller than #ad-point    
bold type2  7,,ii7 separate from any    
other disclosure2  7,,iii7 in a manner  
designed to ensure that the recipient   
sees the disclosure clearly2  7,,iv7 in 

,english and ,spanish and in any        
additional languages in which the debt  
collector communicates1 including the   
language in which the loan was          
negotiated1 to the extent known by the  
debt collector2 and  7,v7 may be        
provided by first-class mail or         
electronically1 if the borrower has     
otherwise consented to electronic       
communication with the debt collector   
and has not revoked such consent4  7iii7
 ,oral notification ,any oral           
notification shall be provided in the   
language the debt collector otherwise   
uses to communicate with the borrower4  
7iv7 ,written translations ,in providing
 written notifications in languages     
other than ,english in this section1 a  
debt collector may rely on written      
translations developed by the ,bureau of
 ,consumer ,financial ,protection4  7#e7
 ,violations  7,a7 ,in general ,any     
person who violates this section shall  
be subject to civil liability in        
accordance with section #hac of the     

,fair ,debt ,collection ,practices ,act1
 as if the person is a debt collector   
for purposes of that section4  7,b7     
,predispute arbitration agreements      
,notwithstanding any other provision of 
law1 no predispute arbitration agreement
 or predispute joint-action waiver shall
 be valid or enforceable with respect to
 a dispute brought under this section1  
including a dispute as to the           
applicability of this section1 which    
shall be determined under ,federal law4 
7#f7 ,tolling ,except as provided in    
paragraph 7#g77;,d71 any applicable time
 limitations1 including statutes of     
limitations1 related to a debt under    
,federal or ,state law shall be tolled  
during the ,,covid-#ai emergency4  7#g7 
,claims of affected creditors and debt  
collectors  7,a7 ,valuation of property 
,with respect to any action asserting a 
taking under the ,fifth ,amendment of   
the ,constitution of the ,united ,states
 as a result of this section or seeking 
a declaratory judgment regarding the    

constitutionality of this section1 the  
value of the property alleged to have   
been taken without just compensation    
shall be evaluated--  7i7 with          
consideration of the likelihood of full 
and timely payment of the obligation    
without the actions taken pursuant to   
this section2 and  7ii7 without         
consideration of any assistance provided
 directly or indirectly to the small    
business or nonprofit from other        
,federal1 ,state1 and local government  
programs instituted or legislation      
enacted in response to the ,,covid-#ai  
emergency4  7,b7 ,scope of just         
compensation ,in an action described in 
subparagraph 7,a71 any assistance or    
benefit provided directly or indirectly 
to the person from other ,federal1      
,state1 and local government programs   
instituted in or legislation enacted    
response to the ,,covid-#ai emergency1  
shall be deemed to be compensation for  
the property taken1 even if such        
assistance or benefit is not            

specifically provided as compensation   
for property taken by this section4     
7,c7 ,appeals ,any appeal from an action
 under this section shall be treated    
under section #aeh of title #bh1 ,united
 ,states ,code1 as if it were an appeal 
in a case under title #aa1 ,united      
,states ,code4  7,d7 ,repose ,any action
 asserting a taking under the ,fifth    
,amendment to the ,constitution of the  
,united ,states as a result of this     
section shall be brought within not     
later than #ahj days after the end of   
the ,,covid-#ai emergency4  7#h7        
,definitions ,in this section3  7,a7    
,,covid-#ai emergency ,the term         
,,covid-#ai emergency means the period  
that begins upon the date of the        
enactment of this ,act and ends on the  
date of the termination by the ,federal 
,emergency ,management ,agency of the   
emergency declared on ,march #ac1 #bjbj1
 by the ,president under the ,robert ,t4
 ,stafford ,disaster ,relief and        
,emergency ,assistance ,act 7#db        

,u4,s4,c4 #daba et seq47 relating to the
 ,coronavirus ,disease #bjai            
7,,covid-#ai7 pandemic4  7,b7 ,creditor 
,the term creditor means--  7i7 any     
person who offers or extends credit     
creating a debt or to whom a debt is    
owed or other obligation for payment2   
7ii7 any lessor of real or personal     
property2 or  7iii7 any provider of     
utility services4  7,c7 ,debt ,the term 
debt--  7i7 means any obligation or     
alleged obligation-- 7,i7 for which the 
original agreement1 or if there is no   
agreement1 the original obligation to   
pay was created before or during the    
,,covid-#ai emergency1 whether or not   
such obligation has been reduced to     
judgment2 and  7,,ii7 that arises out of
 a transaction with a small business or 
nonprofit2 and  7ii7 does not include a 
federally related mortgage loan4  7,d7  
,debt collector ,the term debt collector
 means a creditor1 and any person or    
entity that engages in the collection of
 debt1 including the ,federal           

,government and a ,state government1    
irrespective of whether the debt is     
allegedly owed to or assigned to that   
person or to the entity4  7,e7          
,federally related mortgage loan ,the   
term federally related mortgage loan has
 the meaning given that term under      
section #c of the ,real ,estate         
,settlement ,procedures ,act of #aigd   
7#ab ,u4,s4,c4 #bfjb74  7,f7 ,nonprofit 
,the term nonprofit means an            
organization described in section       
#eja7;c77#c7 of the ,internal ,revenue  
,code of #aihf and exempt from taxation 
under section #eja7;a7 of such ,code4   
7,g7 ,small business ,the term small    
business has the meaning given the term 
small business concern under section #c 
of the ,small ,business ,act4  7b7      
,credit facility for other purposes ,the
 ,board of ,governors of the ,federal   
,reserve ,system shall establish a      
facility that the ,board of ,governors  
shall use to make payments to holders of
 loans or obligations to compensate such

 holders for documented financial       
losses-- 7#a7 with respect to a loan or 
obligation made to an individual1 small 
business1 or nonprofit2 and  7#b7 where 
such losses were caused by a suspension 
of payments required under ,federal law 
in connection with the ,,covid-#ai      
emergency4