Paycheck Protection Program Second Chance Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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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.

R PortmanSponsor

6 cosponsors · 3 D, 3 R

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

This bill requires specified treatment of certain criminal violations under 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 Senate · Jun 2, 2020

Paycheck Protection Program Second Chance Act

Specifically, the bill provides that an entity shall not be ineligible for a paycheck protection loan if certain owners have prior arrests or convictions, unless the owner (1) is incarcerated as of the date of the loan application, or (2) has been convicted of a felony of financial fraud or deception during the five-year period prior to the loan application.

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

About this bill and sources

Official title: Paycheck Protection Program Second Chance Act

Latest action (Jun 10, 2020): Committee on Small Business and Entrepreneurship. Hearings held.

Policy area: Commerce · Origin: Senate · Introduced: Jun 2, 2020

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

No recorded floor vote found.