Sec. 1. Authorizing the financing of inventory of American manufactured products by financial institutions
164 words·~1 min read·
/bill/116/hr/6679/ih/section-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Title II of the Coronavirus Aid, Relief, and Economic Security Act of 2020 ( 15 U.S.C. 9071 et seq.) is amended— by inserting after section 9071 the following section: Notwithstanding any other provision of law, to preserve American manufacturers and their supply chain, the Secretary of the Treasury shall provide financial assistance that shall exclusively be used for the financing of finished products manufactured in the United States after 21 March 2020 by businesses of— less than 2,000 employees; which financing shall not be in excess of 110 percent of sales of the finished product based off the 12 months of sales prior to 21 March 2020; and which financing of American manufactured products that were produced in response to COVID–19 pursuant to section 564 of the Federal Food, Drug, and Cosmetic Act ( 21 U.S.C. 201 et seq.) shall not be counted in the calculation of sales of the finished product in the 12 months of sales prior to 21 March 2020. .
Connectionstraces to 2
Traces to 2 documents
Citation graph
cites case law
Sec. 1
Authorizing the financing of inventory of American manufactured products by financial institutions
Cites 2Cited by 0 across 0 sources