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H.R. 8265 · 116th Congress

To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other…

Full title

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.

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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.

SCR ChabotSponsor
69 cosponsors · 69 R
TBR Balderson MDR Diaz-Balart JHR Herrera Beutler DKR Kustoff DRR Rouzer SSR Scalise LBR Bucshon LGR Gooden CHR Higgins JHR Hagedorn RLR Latta KMR Marchant CMR McMorris Rodgers GPR Pence JRR Rutherford ASR Scott TWR Walberg JWR Walorski MAR Amodei KBR Brady GBR Bilirakis SBR Brooks BCR Carter DCR Crenshaw NDR Dunn BFR Flores KGR Granger BGR Guthrie HGR Griffith MGR Gallagher MGR Green RHR Hudson JHR Hill DLR LaMalfa RMR Marshall CMR Miller BPR Posey SSR Stivers BWR Wenstrup RWR Wright DYR Young ABR Barr DBR Bacon JDR Duncan CJR Jacobs AKR Kinzinger BLR Luetkemeyer BLR Long JMR Moolenaar JRR Rose PSR Stauber VTR Taylor JVR Van Drew MWR Waltz JJR Joyce SWR Womack RWR Williams JFR Fortenberry DJR Joyce FLR Lucas PMR Mitchell TER Emmer JBR Baird FKR Keller DLR LaHood MRR Roby JCR Carter MBR Burgess RNR Norman

0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill establishes funding for, expands, and provides additional economic assistance to small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

What it does: CRS summary · Introduced in House · Sep 16, 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 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.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: 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.

Latest action (Sep 16, 2020): Referred to the Committee on Small Business, and in addition to the Committee on the Judiciary, 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.

Policy area: Commerce · Origin: House · Introduced: Sep 16, 2020

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.