H.R. 7838
Referred to CommitteePaycheck Protection Program Fairness for Engineering Services Act
Latest Action
Referred to the Subcommittee on Highways and Transit.
5/20/2022 • House
Summary
Paycheck Protection Program Fairness for Engineering Services Act
This bill exempts until June 30, 2025, certain contractors that receive federal highway or public transportation funding from having to adjust costs associated with their contracts to account for loan forgiveness through the Paycheck Protection Program (PPP). (The PPP provided small businesses with loans for payroll and other costs to respond to the COVID-19 emergency with loan forgiveness under certain conditions.)
Under current law, a contractor with a cost-reimbursable contract must reduce costs or provide cash refunds to the Department of Transportation (or a state department of transportation) if the contractor receives or accrues any income, rebate, allowance, or other credit relating to an allowable contract cost, which includes PPP loan forgiveness.
Introduced in House • 5/19/2022
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Sponsor & Cosponsors (10)
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Cosponsors (9)
Bill Journey
Originated in the House
Introduced
May 19, 2022
Referred to the House Committee on Transportation and Infrastructure.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
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Enacted into Law