Legis Daily

Paycheck Protection Small Business Forgiveness Act

USA116th CongressS-4117| Senate 
| Updated: 6/30/2020
Kevin Cramer

Kevin Cramer

Republican Senator

North Dakota

Cosponsors (32)
Bill Cassidy (Republican)Dan Sullivan (Republican)Thomas Tillis (Republican)Cindy Hyde-Smith (Republican)David Perdue (Republican)Jerry Moran (Republican)Tom Cotton (Republican)James M. Inhofe (Republican)Michael B. Enzi (Republican)Roger F. Wicker (Republican)Martha McSally (Republican)John Boozman (Republican)Doug Jones (Democratic)Roy Blunt (Republican)Kelly Loeffler (Republican)Kyrsten Sinema (Independent)Jacky Rosen (Democratic)Joe Manchin (Independent)Mike Rounds (Republican)Ted Cruz (Republican)Ben Sasse (Republican)James Lankford (Republican)John Kennedy (Republican)John Barrasso (Republican)John Cornyn (Republican)Robert Menendez (Democratic)Cory Gardner (Republican)Steve Daines (Republican)Mike Crapo (Republican)Lisa Murkowski (Republican)Richard Burr (Republican)Shelley Moore Capito (Republican)

Small Business and Entrepreneurship Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Paycheck Protection Small Business Forgiveness Act This bill modifies loan forgiveness under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill provides for automatic forgiveness of a paycheck protection loan that is not more than $150,000 if the recipient submits a one-page form. Further, it prohibits any enforcement or other action against a lender relating to loan origination, forgiveness, or guarantee based on the lender's reliance on certifications or documentation submitted by a loan applicant or recipient.
View Full Text

Suggested Questions

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

Timeline
Jun 30, 2020
Introduced in Senate
Jun 30, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jul 24, 2020

Latest Companion Bill Action

HR 116-7777
Introduced in House
  • June 30, 2020
    Introduced in Senate


  • June 30, 2020
    Read twice and referred to the Committee on Small Business and Entrepreneurship.


  • July 24, 2020

    Latest Companion Bill Action

    HR 116-7777
    Introduced in House

Commerce

Related Bills

  • HR 116-7777: Paycheck Protection Small Business Forgiveness Act
Business expensesBusiness recordsCardiovascular and respiratory healthCivil actions and liabilityEmergency medical services and trauma careGovernment information and archivesGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessWages and earnings

Paycheck Protection Small Business Forgiveness Act

USA116th CongressS-4117| Senate 
| Updated: 6/30/2020
Paycheck Protection Small Business Forgiveness Act This bill modifies loan forgiveness under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill provides for automatic forgiveness of a paycheck protection loan that is not more than $150,000 if the recipient submits a one-page form. Further, it prohibits any enforcement or other action against a lender relating to loan origination, forgiveness, or guarantee based on the lender's reliance on certifications or documentation submitted by a loan applicant or recipient.
View Full Text

Suggested Questions

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

Timeline
Jun 30, 2020
Introduced in Senate
Jun 30, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jul 24, 2020

Latest Companion Bill Action

HR 116-7777
Introduced in House
  • June 30, 2020
    Introduced in Senate


  • June 30, 2020
    Read twice and referred to the Committee on Small Business and Entrepreneurship.


  • July 24, 2020

    Latest Companion Bill Action

    HR 116-7777
    Introduced in House
Kevin Cramer

Kevin Cramer

Republican Senator

North Dakota

Cosponsors (32)
Bill Cassidy (Republican)Dan Sullivan (Republican)Thomas Tillis (Republican)Cindy Hyde-Smith (Republican)David Perdue (Republican)Jerry Moran (Republican)Tom Cotton (Republican)James M. Inhofe (Republican)Michael B. Enzi (Republican)Roger F. Wicker (Republican)Martha McSally (Republican)John Boozman (Republican)Doug Jones (Democratic)Roy Blunt (Republican)Kelly Loeffler (Republican)Kyrsten Sinema (Independent)Jacky Rosen (Democratic)Joe Manchin (Independent)Mike Rounds (Republican)Ted Cruz (Republican)Ben Sasse (Republican)James Lankford (Republican)John Kennedy (Republican)John Barrasso (Republican)John Cornyn (Republican)Robert Menendez (Democratic)Cory Gardner (Republican)Steve Daines (Republican)Mike Crapo (Republican)Lisa Murkowski (Republican)Richard Burr (Republican)Shelley Moore Capito (Republican)

Small Business and Entrepreneurship Committee

Commerce

Related Bills

  • HR 116-7777: Paycheck Protection Small Business Forgiveness Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business expensesBusiness recordsCardiovascular and respiratory healthCivil actions and liabilityEmergency medical services and trauma careGovernment information and archivesGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessWages and earnings