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More PPP Act

USA116th CongressHR-6893| House 
| Updated: 5/15/2020
Joyce Beatty

Joyce Beatty

Democratic Representative

Ohio

Cosponsors (1)
Al Green (Democratic)

Small Business Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Making Opportunities a Reality for Entrepreneurs Paycheck Protection Program or the More PPP Act This bill provides additional funding for and modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill increases funding for paycheck protection loans by $560 billion, and it provides additional funding of $571 billion for paycheck protection loans through FY2021. Further, the bill sets aside $200 billion for paycheck protection loans to businesses and nonprofit organizations with 25 or fewer employees, sole proprietors, independent contractors, and self-employed individuals. The bill also modifies eligibility for the program by (1) making publicly traded companies ineligible to participate, and (2) requiring borrowers to certify a decline in revenue of 20% or more. Further, the bill makes it unlawful for a lender to discriminate against or give preferential treatment to any eligible recipient. The Small Business Administration must report on the demographic data, including race, gender, and ethnicity, of paycheck protection loan recipients.
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Timeline
May 15, 2020
Introduced in House
May 15, 2020
Referred to the House Committee on Small Business.
  • May 15, 2020
    Introduced in House


  • May 15, 2020
    Referred to the House Committee on Small Business.

Commerce

AppropriationsBusiness expensesCardiovascular and respiratory healthCongressional oversightEmergency medical services and trauma careExecutive agency funding and structureGovernment lending and loan guaranteesInfectious and parasitic diseasesSelf-employedSmall businessSmall Business AdministrationSocial work, volunteer service, charitable organizationsWages and earnings

More PPP Act

USA116th CongressHR-6893| House 
| Updated: 5/15/2020
Making Opportunities a Reality for Entrepreneurs Paycheck Protection Program or the More PPP Act This bill provides additional funding for and modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill increases funding for paycheck protection loans by $560 billion, and it provides additional funding of $571 billion for paycheck protection loans through FY2021. Further, the bill sets aside $200 billion for paycheck protection loans to businesses and nonprofit organizations with 25 or fewer employees, sole proprietors, independent contractors, and self-employed individuals. The bill also modifies eligibility for the program by (1) making publicly traded companies ineligible to participate, and (2) requiring borrowers to certify a decline in revenue of 20% or more. Further, the bill makes it unlawful for a lender to discriminate against or give preferential treatment to any eligible recipient. The Small Business Administration must report on the demographic data, including race, gender, and ethnicity, of paycheck protection loan recipients.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 15, 2020
Introduced in House
May 15, 2020
Referred to the House Committee on Small Business.
  • May 15, 2020
    Introduced in House


  • May 15, 2020
    Referred to the House Committee on Small Business.
Joyce Beatty

Joyce Beatty

Democratic Representative

Ohio

Cosponsors (1)
Al Green (Democratic)

Small Business Committee

Commerce

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
AppropriationsBusiness expensesCardiovascular and respiratory healthCongressional oversightEmergency medical services and trauma careExecutive agency funding and structureGovernment lending and loan guaranteesInfectious and parasitic diseasesSelf-employedSmall businessSmall Business AdministrationSocial work, volunteer service, charitable organizationsWages and earnings