US SB3714 | 2019-2020 | 116th Congress
Status
Spectrum: Slight Partisan Bill (Democrat 4-2)
Status: Introduced on May 13 2020 - 25% progression, died in committee
Action: 2020-05-13 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 13 2020 - 25% progression, died in committee
Action: 2020-05-13 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) by (1) extending from 8 weeks to 16 weeks the period during which a loan recipient must use their paycheck protection loan to be eligible for forgiveness; and (2) allowing a recipient 16 weeks from the date of the loan to eliminate a reduction in workforce, salary, or wages that would otherwise reduce their forgivable amount.
Title
PPP DEAL Act PPP Deadline Extension Adjustment for Loans Act
Sponsors
| Sen. Joe Manchin [D-WV] | Sen. Mitt Romney [R-UT] | Sen. Patrick Leahy [D-VT] | Sen. Cory Gardner [R-CO] |
| Sen. Ron Wyden [D-OR] | Sen. Jacky Rosen [D-NV] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-05-13 | Senate | Read twice and referred to the Committee on Small Business and Entrepreneurship. |
Same As/Similar To
HB6981 (Same As) 2020-05-22 - Referred to the House Committee on Small Business.
Subjects
Business expenses
Cardiovascular and respiratory health
Commerce
Emergency medical services and trauma care
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
Wages and earnings
Cardiovascular and respiratory health
Commerce
Emergency medical services and trauma care
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
Wages and earnings
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/3714/all-info |
| Text | https://www.congress.gov/116/bills/s3714/BILLS-116s3714is.pdf |
