H.R. 8265
Referred to CommitteeTo 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
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.
9/16/2020 • House
Summary
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.
Introduced in House • 9/16/2020
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Bill Journey
Originated in the House
Introduced
September 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.
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Enacted into Law
Text Versions (1)
Related Bills (7)
H.R. 7175
Paycheck Protection for Producers Act
H.R. 7664
To permit the Administrator of the Small Business Administration to deem certain nonprofit organizations serving developmentally disabled individuals as eligible to participate in the paycheck protection program, and for other purposes.
H.R. 8087
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.
S. 3918
Paycheck Protection for Producers Act
S. 4321
Continuing Small Business Recovery and Paycheck Protection Program Act
S. 4775
Delivering Immediate Relief to America’s Families, Schools and Small Businesses Act
S. 4773
Continuing the Paycheck Protection Program Act