Proposal:Business Interruption Relief Act of 2020

This proposal is archived and closed to further debate. It was introduced in the 116th Congress, which has concluded, and the bill was not enacted into law.

Bill	HR 7394
Type of Legislation	House Bill
Congress	116
Status	Archived — 116th Congress concluded
Source	View original on Congress.gov

Geographic Scope

National

Description

Business Interruption Relief Act of 2020

This bill establishes the Business Interruption Relief Program within the Department of the Treasury to provide financial assistance to insurers that voluntarily pay benefits under certain policies for COVID-19 (i.e., coronavirus disease 2019) losses. Specifically, insurers qualify for the program if the insurer has at least one outstanding and existing policy for business interruption coverage that (1) expressly covers losses during a civil authority shutdown as a result of the COVID-19 pandemic, and (2) expressly excludes coverage for a virus. Participation in the program is voluntary.

Bill Title

Business Interruption Relief Act of 2020

Linked Goals

• Goal:Promote General Welfare

Steps

• 2020-06-26: Referred to the House Committee on Financial Services.
• 2020-06-26: Introduced in House
• 2020-06-26: Introduced in House

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.