H.R. 2582 · 117th Congress
PRACTICAL Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HillSponsor5 cosponsors · 1 D, 4 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
PPP Revenue Adjustment Calculation To Increase Capital Accessibility Long-term Act of 2021 or the PRACTICAL Act of 2021
What it does: CRS summary · Introduced in House · Apr 15, 2021
PPP Revenue Adjustment Calculation To Increase Capital Accessibility Long-term Act of 2021 or the PRACTICAL Act of 2021
This bill modifies eligibility for second draw loans 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 a period of 90 consecutive days to determine whether a borrower experienced a loss in revenue from 2019 to 2020 that qualifies them for a second draw loan. Currently, this qualification period must align with a corresponding calendar quarter from the previous year.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: PRACTICAL Act of 2021
Also known as: PPP Revenue Adjustment Calculation To Increase Capital Accessibility Long-term Act of 2021
Latest action (Apr 15, 2021): Referred to the House Committee on Small Business.
Policy area: Commerce · Origin: House · Introduced: Apr 15, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.