US HB7894 | 2019-2020 | 116th Congress

Status

Spectrum: Slight Partisan Bill (Republican 7-4)
Status: Introduced on July 31 2020 - 25% progression, died in committee
Action: 2020-07-31 - Referred to the Subcommittee on Select Revenue Measures.
Pending: House Subcommittee on Select Revenue Measures Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Extends the duration of, authorizes subsequent loans under, and otherwise modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill extends the Paycheck Protection Program through December 31, 2020. It also authorizes a recipient of a paycheck protection loan to apply for a subsequent loan made under the same terms, conditions, and process, and for which the recipient shall be eligible for forgiveness in the same manner, as an initial paycheck protection loan. Further, the bill expands program eligibility to include (1) organizations such as business leagues and chambers of commerce, and (2) franchisors or franchisees that employ not more than 500 employees per physical location. The bill also prohibits the use of program amounts for lobbying activities and makes eligible expenses tax deductible. In addition, the bill provides for an abbreviated process for forgiveness of a paycheck protection loan that is not more than $150,000.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Paycheck Protection Program Small Business Enhancement Act

Sponsors


History

DateChamberAction
2020-07-31HouseReferred to the Subcommittee on Select Revenue Measures.
2020-07-31HouseReferred to the Committee on Small Business, and in addition to the Committee on Ways and Means, 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.
2020-07-31HouseReferred to the Committee on Small Business, and in addition to the Committee on Ways and Means, 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.
2020-07-31HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

feedback