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.
USA116th CongressHR-8087| House
| Updated: 8/22/2020
Steve Chabot
Republican Representative
Ohio
Small Business Committee, Appropriations Committee, Judiciary Committee, Budget Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
This bill establishes funding for, expands, and provides additional economic assistance to small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the Small Business Administration (SBA) is authorized to provide second draw loans of up to $2 million under the Paycheck Protection Program. A recipient shall be eligible for forgiveness of a second draw loan in the same manner as an initial paycheck protection loan. Further the bill modifies the Paycheck Protection Program by, among other things, (1) expanding forgivable expenses, (2) allowing borrowers to select an eight-week period through December 31, 2020, to use their paycheck protection loan, (3) simplifying the forgiveness application for smaller loans, (4) expanding eligibility to certain chambers of commerce and destination marketing organizations, and (5) establishing a specific loan calculation for farmers and ranchers.
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Timeline
Introduced in House
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.
Commerce
Accounting and auditingAdministrative law and regulatory proceduresAgricultural prices, subsidies, creditAppropriationsBankruptcyBusiness ethicsBusiness expensesCardiovascular and respiratory healthComputers and information technologyCongressional oversightCorporate finance and managementEmergency medical services and trauma careEmployee benefits and pensionsFarm Credit AdministrationGovernment lending and loan guaranteesGovernment studies and investigationsInfectious and parasitic diseasesLife, casualty, property insurancePublic participation and lobbyingReligionSmall businessSmall Business AdministrationSocial work, volunteer service, charitable organizationsTax-exempt organizationsTemporary and part-time employmentVeterans' organizations and recognitionWages and earningsWorker safety and health
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.
USA116th CongressHR-8087| House
| Updated: 8/22/2020
This bill establishes funding for, expands, and provides additional economic assistance to small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the Small Business Administration (SBA) is authorized to provide second draw loans of up to $2 million under the Paycheck Protection Program. A recipient shall be eligible for forgiveness of a second draw loan in the same manner as an initial paycheck protection loan. Further the bill modifies the Paycheck Protection Program by, among other things, (1) expanding forgivable expenses, (2) allowing borrowers to select an eight-week period through December 31, 2020, to use their paycheck protection loan, (3) simplifying the forgiveness application for smaller loans, (4) expanding eligibility to certain chambers of commerce and destination marketing organizations, and (5) establishing a specific loan calculation for farmers and ranchers.
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Timeline
Introduced in House
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.
Steve Chabot
Republican Representative
Ohio
Small Business Committee, Appropriations Committee, Judiciary Committee, Budget Committee
Commerce
Related Bills
- S 116-4773: Continuing the Paycheck Protection Program Act
- S 116-4321: Continuing Small Business Recovery and Paycheck Protection Program Act
- S 116-4775: Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act
- HR 116-8265: 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.
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Accounting and auditingAdministrative law and regulatory proceduresAgricultural prices, subsidies, creditAppropriationsBankruptcyBusiness ethicsBusiness expensesCardiovascular and respiratory healthComputers and information technologyCongressional oversightCorporate finance and managementEmergency medical services and trauma careEmployee benefits and pensionsFarm Credit AdministrationGovernment lending and loan guaranteesGovernment studies and investigationsInfectious and parasitic diseasesLife, casualty, property insurancePublic participation and lobbyingReligionSmall businessSmall Business AdministrationSocial work, volunteer service, charitable organizationsTax-exempt organizationsTemporary and part-time employmentVeterans' organizations and recognitionWages and earningsWorker safety and health