Small Business ICE Disruption Fund Act

Key Points

• This bill would create a new $200 million fund to help small businesses that lose money because of federal immigration enforcement, such as raids. It aims to help local shops and restaurants stay open if their neighborhood is disrupted by these government actions.
• To qualify for a grant, a business must prove it lost at least 25% of its usual income because of an enforcement action that happened nearby within the last year. Owners would need to show their financial records to prove exactly how much money they lost.
• The program is only for small, private companies with 15 or fewer locations. Large corporations that are traded on the stock market are not allowed to apply for this specific help.
• Each business could receive up to $1 million total, or $500,000 for each physical location. The money is meant to replace the specific amount of income the business lost during the time it was affected by the enforcement action.
• The Small Business Administration would manage the fund. They would check tax returns and business ID numbers to make sure the money goes to the right people and to prevent anyone from cheating the system.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.