North Carolina 2019-2020 Session Status: In Committee 4 D cosponsors

SB 788 — Save Our Restaurants Act.

Last action — Withdrawn From Com

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

18 added · 19 removed

Plain-language change summary

The changes made to Senate Bill 788 primarily involve clarifying the eligibility criteria for businesses seeking financial assistance due to significant revenue losses. The updated version specifies a requirement for businesses to show economic losses of over 50%. This is important because it ensures that support is directed towards those most affected, providing necessary resources to help them recover from the impacts of economic downturns.

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FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA May 14, 2020 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2019 S 1 SENATE BILL 788 Short Title:
788 SESSION 2019 PRINCIPAL CLERK S D SENATE BILL DRS15504-MCxfa-246 Short Title:
A BILL TO BE ENTITLED AN ACT TO ENACT THE SAVE OUR AUTHENTIC RESTAURANTS ACT AND HOTEL STABILIZATION FUND.
Rules and Operations of the Senate May 18, 2020 A BILL TO BE ENTITLED AN ACT TO ENACT THE SAVE OUR AUTHENTIC RESTAURANTS ACT AND HOTEL STABILIZATION FUND.
*DRS15504-MCxfa-246* General Assembly Of North Carolina Session 2019 (6) Qualifying business.
*S788-v-1* General Assembly Of North Carolina Session 2019 (6) Qualifying business.
– A restaurant or similar establishment located in this State, (ii) with the primary purpose of preparing and serving food subject to the taxes imposed by Article 5 of this Chapter, and (iii) capable of showing economiclosses in gross revenueofgreaterthanfiftypercent (50%) as aresult of the State of Emergency.
– A restaurant or similar establishment located in this State, (ii) with the primary purpose of preparing and serving food subject to the taxes imposed by Article 5 of this Chapter, and (iii) capable of showing economiclosses in gross revenueofgreaterthanfiftypercent (50%)as aresult of the State of Emergency.
(Long-Term Economic Advancement Foundation), Inc., theN.C.
(Long-Term Economic Advancement Foundation), Inc.,theN.C.
Any portion of the loan that is used by December 30, 2020, by the business to purchase from a North Carolina small farm, directly or indirectly, produce, dairy, meat, orfish.
Any portion of the loan that is used by December 30, 2020, by the business to purchase from a North Carolina small farm, directly or indirectly,produce,dairy,meat, orfish.Aqualifyingbusiness mayuse Page 2 Senate Bill 788-First Edition General Assembly Of North Carolina Session 2019 a large food wholesaler invoice that provides evidence that a portion of the loan should be forgiven pursuant to this subdivision.
Aqualifyingbusiness mayuse Page 2 DRS15504-MCxfa-246 General Assembly Of North Carolina Session 2019 a large food wholesaler invoice that provides evidence that a portion of the loan should be forgiven pursuant to this subdivision.
DRS15504-MCxfa-246 Page 3 General Assembly Of North Carolina Session 2019 SECTION 2.1.(a) Hotel Stabilization Program.
Senate Bill 788-First Edition Page 3 General Assembly Of North Carolina Session 2019 SECTION 2.1.(a) Hotel Stabilization Program.
– Seventy-five million dollars ($75,000,000) of the funds appropriated by Section 1(b) of this act shall be allocated to one or more community development financial institutions (CDFI) selected by the Director of the Budgetforthepurposeofmakingloansto assistqualifyingbusinesseswithbusinessneedsduring periods of economic hardship occasioned by the COVID-19 pandemic.
– Seventy-five million dollars ($75,000,000) of the funds appropriated by Section 1(b) of this act shall be allocated to one or more community development financial institutions (CDFI) selected by the Director of the Budgetforthepurposeofmakingloansto assistqualifyingbusinesseswithbusiness needsduring periods of economic hardship occasioned by the COVID-19 pandemic.
(2) The CDFI shall prioritize loans for qualifying businesses based on the degree to which the business is capableofshowinggreater economiclosses as aresult of the State of Emergency.
(2) The CDFI shall prioritize loans for qualifying businesses based on the degree to which thebusiness is capableofshowinggreater economiclosses as aresult of the State of Emergency.
(7) A qualifying business shall certifyin writing that (i) it will use a loan provided under the program for employee compensation, mortgage, rent, utilities, and other operating costs and expenses incurred on behalf of a business located in Page 4 DRS15504-MCxfa-246 General Assembly Of North Carolina Session 2019 this State and (ii) it has not and will not seek a duplication of benefits in the form of a loan for small business assistance authorized in S.L.
(7) A qualifying business shall certifyin writing that (i) it will use a loan provided under the program for employee compensation, mortgage, rent, utilities, and other operating costs and expenses incurred on behalf of a business located in Page 4 Senate Bill 788-First Edition General Assembly Of North Carolina Session 2019 this State and (ii) it has not and will not seek a duplication of benefits in the form of a loan for small business assistance authorized in S.L.
DRS15504-MCxfa-246 Page 5 General Assembly Of North Carolina Session 2019 d.
Senate Bill 788-First Edition Page 5 General Assembly Of North Carolina Session 2019 d.
SECTION 3.(b) Reversion.
SECTION3.(b) Reversion.
–Thefundsappropriatedin subsection (a)ofthis section shall not revert at the end of the 2019-2020 fiscal year, but shall remain available to expend in accordance with this act until June 30, 2021.
–Thefundsappropriatedin subsection(a)ofthis section shall not revert at the end of the 2019-2020 fiscal year, but shall remain available to expend in accordance with this act until June 30, 2021.
Page 6 DRS15504-MCxfa-246
Page 6 Senate Bill 788-First Edition
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Action History

  1. Withdrawn From Com

  2. Re-ref to Appropriations/Base Budget. If fav, re-ref to Rules and Operations of the Senate

  3. Passed 1st Reading

  4. Ref To Com On Rules and Operations of the Senate

  5. Filed

Sponsors

Sponsorship breakdown

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1 sponsors · 8 co-sponsors · 170 not signed on

Sponsors (1)

Co-sponsors (8)

Not signed on (170)

170 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Frequently asked questions

Who sponsors SB 788?
SB 788 is sponsored by Jay J. Chaudhuri (Democratic), Peterson, deViere, Foushee, Paul A. Lowe, Jr. (Democratic), Marcus, Van Duyn, Gladys A. Robinson (Democratic), and Michael Garrett (Democratic).
What is the current status of SB 788?
This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 788?
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