H.R. 7894 · 116th Congress
Paycheck Protection Program Small Business Enhancement 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.
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CurtisSponsor10 cosponsors · 4 D, 6 R
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Meuser
CR
R
Roy
JV
R
Van Drew
SW
D
Wild
KA
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Armstrong
JC
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Cunningham
HC
D
Cuellar
AH
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Harris
KH
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Hern
DP
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Phillips4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill extends the duration of, authorizes subsequent loans under, and otherwise modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
What it does: CRS summary · Introduced in House · Jul 31, 2020
Paycheck Protection Program Small Business Enhancement Act
This bill extends the duration of, authorizes subsequent loans under, and otherwise modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the bill extends the Paycheck Protection Program through December 31, 2020. It also authorizes a recipient of a paycheck protection loan to apply for a subsequent loan made under the same terms, conditions, and process, and for which the recipient shall be eligible for forgiveness in the same manner, as an initial paycheck protection loan.
Further, the bill expands program eligibility to include (1) organizations such as business leagues and chambers of commerce, and (2) franchisors or franchisees that employ not more than 500 employees per physical location. The bill also prohibits the use of program amounts for lobbying activities and makes eligible expenses tax deductible. In addition, the bill provides for an abbreviated process for forgiveness of a paycheck protection loan that is not more than $150,000.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Paycheck Protection Program Small Business Enhancement Act
Latest action (Jul 31, 2020): Referred to the Subcommittee on Select Revenue Measures.
Policy area: Commerce · Origin: House · Introduced: Jul 31, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.