US S4773

Bill

Continuing the Paycheck Protection Program Act

Introduced
09/30/2020

In Committee

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

A BILL To establish the Paycheck Protection Program Second Draw Loan, and for other purposes. 1

AI Summary

This bill establishes the Paycheck Protection Program Second Draw Loan, which allows certain small businesses, nonprofits, and other eligible entities that previously received a Paycheck Protection Program (PPP) loan to apply for a second, smaller loan. The bill expands the allowable uses of PPP loan proceeds and simplifies the loan forgiveness process, especially for smaller loans. It also makes technical changes to the original PPP to facilitate participation by Farm Credit System institutions and adjusts the calculation of maximum loan amounts for farmers and ranchers. Additionally, the bill provides new funding and extends the PPP application deadline to December 31, 2020.

Sponsors (2)

Susan Collins (R)*, Marco Rubio (R),

Last Action

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 562. (on 10/01/2020)

Official Document

https://www.congress.gov/bill/116th-congress/senate-bill/4773/all-info

(5 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/senate-bill/4773/all-info
BillText	https://www.congress.gov/116/bills/s4773/BILLS-116s4773pcs.pdf
Bill	https://www.congress.gov/116/bills/s4773/BILLS-116s4773pcs.pdf.pdf

Bill	Bill Name	Last Action	Type
HR7175	Paycheck Protection for Producers Act	Referred to the House Committee on Small Business.	Related
HR8087	To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes.	Referred to the Committee on Small Business, and in addition to the Committees on the Judiciary, the Budget, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
HR8265	To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes.	Referred to the Committee on Small Business, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
S3918	Paycheck Protection for Producers Act	Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S2809)	Related
S4775	Delivering Immediate Relief to America's Families, Schools and Small Businesses Act	Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 564.	Related

Bill > S4773

US S4773

summary

Introduced Session

Bill Summary

AI Summary

Sponsors (2)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary