,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fedi  ,,in ,,the ,,house ,,of  
,,representatives  ,april #ag1 #bjbj,mr4
 ,sherman introduced the following bill2
 which was referred to the ,committee on
 ,financial ,services  ,a ,,bill  ,to   
prevent the acceleration of the due date
 of business loans during the           
,,covid-#ai national emergency1 and for 
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,business      
,borrowers ,protection ,act4  #b4       
,construction of loan covenants ,in     
determining whether any borrower is in  
violation of any loan covenant or is    
required to repay a loan on an          
accelerated basis1 any loan received    
under any governmental program to deal  
with the ,,covid-#ai virus shall be     
excluded4 ,any loan received from any   
governmental entity under any program to
 deal with the ,,covid-#ai virus shall  
not be taken into account in determining
 the debts or liabilities of the        
borrower for purposes of determining    

whether the borrower is in conformity   
with any loan agreement1 or whether the 
lender has the right to accelerate the  
due date of any loan agreement4  #c4    
,loan covenant eforcement not required  
,from the date of enactment until the   
date two years after the termination of 
the national emergency declared by the  
,president on ,march #ac1 #bjbj1 under  
the ,national ,emergencies ,act 7#ej    
,u4,s4,c4 #afja et seq47 it is the      
policy of the ,united ,states that      
lenders should not accelerate the due   
date of any business loan or curtail any
 line of credit4 ,federal regulatory    
entities shall adopt policies or        
regulations so that no lender is held to
 be in violation of any regulation due  
to the lender's adherence to the policy 
set forth in the preceding sentence4    
#d4 ,trustees not required to enforce   
loan covenants ,from the date of        
enactment until the date two years after
 the termination of the national        
emergency declared by the ,president on 

,march #ac1 #bjbj1 under the ,national  
,emergencies ,act 7#ej ,u4,s4,c4 #afja  
et seq47 no trustee or other person with
 a fiduciary duty to the holders of any 
debt security shall be liable for any   
decision made not to enforce a loan     
covenant4  #e4 ,definitions  7a7        
,governmental program ,to deal with the 
,,covid-#ai virus ,the term governmental
 program to deal with the ,,covid-#ai   
virus means any program created by the  
,coronavirus ,preparedness and ,response
 ,supplemental ,appropriations ,act1    
#bjbj 7,public ,law #aaf-abc71 the      
,families ,first ,coronavirus ,response 
,act 7,public ,law #aaf-abg71 or the    
,coronavirus ,aid1 ,relief1 and         
,economic ,security ,act 7,public ,law  
#aaf-acf7 and any program established by
 the ,federal ,government or any ,state1
 local1 tribal1 or territorial          
government for the purpose of reducing  
the economic dislocation caused by the  
spread of ,,covid-#ai4  7b7 ,loan       
covenant ,the term loan covenant means  

any provision which allows or requires  
the acceleration of repayments due under
 any loan agreement1 or which reduces   
the availability of funds under a line  
of credit1 due to any act or omission of
 the borrower or any entity related to  
the borrower4 ,loan covenant includes   
any provision which accelerates         
repayment under a loan1 or reduces the  
amount that may be borrowed under a line
 of credit1 because the borrower's total
 liabilities or current liabilities     
exceed any benchmark1 or any percentage 
of the borrower's assets1 revenues1     
equity1 or other benchmark4