H.R. 7928 — Introduced in House

I 116th CONGRESS 2d Session H. R. 7928 IN THE HOUSE OF REPRESENTATIVES August 4, 2020Mrs. Fletcher (for herself and Mr. Olson) introduced the following bill; which was referred to the Committee on Small Business A BILL To expand the payment of principal, interest, and fees for certain disaster loans under the CARES Act, and for other purposes. 1. Short title This Act may be cited as the Loan Interest Forgiveness for Taxpayers Under a Pandemic Act of 2020 or the LIFT UP Act of 2020. 2. Debt relief under the CARES Act Section 1112(a) of the CARES Act (Public Law 116–136) is amended— (1) in paragraph (1)(B), by striking or at the end; (2) in paragraph (2), by striking the period at the end and inserting ; or; and (3) by adding at the end the following: (3) made during the period beginning on January 1, 2015, and ending on the day before the date of enactment of this paragraph— (A) to a business concern under section 7(b)(1) of the Small Business Act (15 U.S.C. 636(b)(1)) that is unrelated to the COVID–19 pandemic; or (B) under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) that is unrelated to the COVID–19 pandemic. .