Small Business Transparency and Reporting for the Underbanked and Taxpayers at Home Act or the TRUTH Act This bill requires the Small Business Administration (SBA) to make information regarding economic relief measures implemented in response to COVID-19 (i.e., coronavirus disease 2019) publicly available. Specifically, with respect to the Paycheck Protection Program and economic injury disaster loans and emergency grants, the SBA must publish (1) the identity of each recipient of assistance and an explanation of the decision-making process underlying such disbursal; (2) the number of employees of each recipient and the date on which such assistance was disbursed; (3) an identification of each lender or intermediary through which assistance was disbursed; and (4) the amount of assistance disbursed to small businesses owned and controlled by socially and economically disadvantaged individuals, women, and veterans.
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Timeline
Introduced in House
Referred to the House Committee on Small Business.
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2330-2332; text: CR H2330-2331)
DEBATE - The House proceeded with forty minutes of debate on H.R. 6782.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H2339-2340)
On motion to suspend the rules and pass the bill, as amended Failed by the Yeas and Nays: (2/3 required): 269 - 147 (Roll no. 113).
Referred to the House Committee on Small Business.
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2330-2332; text: CR H2330-2331)
DEBATE - The House proceeded with forty minutes of debate on H.R. 6782.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H2339-2340)
On motion to suspend the rules and pass the bill, as amended Failed by the Yeas and Nays: (2/3 required): 269 - 147 (Roll no. 113).
AppropriationsBanking and financial institutions regulationBusiness expensesCardiovascular and respiratory healthCredit and credit marketsEconomic performance and conditionsEmergency medical services and trauma careGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment lending and loan guaranteesInfectious and parasitic diseasesMinority and disadvantaged businessesSmall businessVeterans' education, employment, rehabilitationVeterans' loans, housing, homeless programsWages and earningsWomen in business
TRUTH Act
USA116th CongressHR-6782| House
| Updated: 5/28/2020
Small Business Transparency and Reporting for the Underbanked and Taxpayers at Home Act or the TRUTH Act This bill requires the Small Business Administration (SBA) to make information regarding economic relief measures implemented in response to COVID-19 (i.e., coronavirus disease 2019) publicly available. Specifically, with respect to the Paycheck Protection Program and economic injury disaster loans and emergency grants, the SBA must publish (1) the identity of each recipient of assistance and an explanation of the decision-making process underlying such disbursal; (2) the number of employees of each recipient and the date on which such assistance was disbursed; (3) an identification of each lender or intermediary through which assistance was disbursed; and (4) the amount of assistance disbursed to small businesses owned and controlled by socially and economically disadvantaged individuals, women, and veterans.
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in House
Referred to the House Committee on Small Business.
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2330-2332; text: CR H2330-2331)
DEBATE - The House proceeded with forty minutes of debate on H.R. 6782.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H2339-2340)
On motion to suspend the rules and pass the bill, as amended Failed by the Yeas and Nays: (2/3 required): 269 - 147 (Roll no. 113).
Referred to the House Committee on Small Business.
Ms. Velazquez moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H2330-2332; text: CR H2330-2331)
DEBATE - The House proceeded with forty minutes of debate on H.R. 6782.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H2339-2340)
On motion to suspend the rules and pass the bill, as amended Failed by the Yeas and Nays: (2/3 required): 269 - 147 (Roll no. 113).
AppropriationsBanking and financial institutions regulationBusiness expensesCardiovascular and respiratory healthCredit and credit marketsEconomic performance and conditionsEmergency medical services and trauma careGovernment ethics and transparency, public corruptionGovernment information and archivesGovernment lending and loan guaranteesInfectious and parasitic diseasesMinority and disadvantaged businessesSmall businessVeterans' education, employment, rehabilitationVeterans' loans, housing, homeless programsWages and earningsWomen in business