H.R. 6893 · 116th Congress
More PPP Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BeattySponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Making Opportunities a Reality for Entrepreneurs Paycheck Protection Program or the More PPP Act
What it does: CRS summary · Introduced in House · May 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: More PPP Act
Also known as: Making Opportunities a Reality for Entrepreneurs Paycheck Protection Program
Latest action (May 15, 2020): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: May 15, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.