Sec. 113. Eligibility of 501(c)(6) organizations for loans under the paycheck protection program
267 words·~1 min read·
/bill/116/s/4321/is/section-113A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 7(a)(36)(D) of the Small Business Act ( 15 U.S.C. 636(a)(36)(D) ) is amended— in clause (v), by inserting or whether an entity described in clause
(vii)employs not more than 300 employees, after clause (i)(I), ; and by adding at the end the following: Except as provided in subclause (II), any organization that is described in section 501(c)(6) of the Internal Revenue Code and that is exempt from taxation under section 501(a) of such Code (excluding professional football leagues and organizations with the purpose of promoting or participating in a political campaign or other activity) shall be eligible to receive a covered loan if— the organization does not receive more than 10 percent of its receipts from lobbying activities; the lobbying activities of the organization do not comprise more than 10 percent of the total activities of the organization; and the organization employs not more than 300 employees. Notwithstanding subclause (I), during the covered period, any destination marketing organization shall be eligible to receive a covered loan if— the destination marketing organization does not receive more than 10 percent of its receipts from lobbying activities; the lobbying activities of the destination marketing organization do not comprise more than 10 percent of the total activities of the organization; the destination marketing organization employs not more than 300 employees; and the destination marketing organization— is described in section 501(c) of the Internal Revenue Code and is exempt from taxation under section 501(a) of such Code; or is a quasi-governmental entity or is a political subdivision of a State or local government, including any instrumentality of those entities. .
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 113
Eligibility of 501(c)(6) organizations for loans under the paycheck protection program
Cites 1Cited by 0 across 0 sources