US SB4117 | 2019-2020 | 116th Congress

Status

Spectrum: Moderate Partisan Bill (Republican 27-4)
Status: Introduced on June 30 2020 - 25% progression
Action: 2020-06-30 - 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

Paycheck Protection Small Business Forgiveness Act This bill modifies loan forgiveness 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 automatic forgiveness of a paycheck protection loan that is not more than $150,000 if the recipient submits a one-page form. Further, it prohibits any enforcement or other action against a lender relating to loan origination, forgiveness, or guarantee based on the lender's reliance on certifications or documentation submitted by a loan applicant or recipient.

Tracking Information

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Title

Paycheck Protection Small Business Forgiveness Act

Sponsors


History

DateChamberAction
2020-06-30SenateRead twice and referred to the Committee on Small Business and Entrepreneurship.

Same As/Similar To

HB7777 (Related) 2020-07-24 - Referred to the House Committee on Small Business.

Subjects


US Congress State Sources


Bill Comments

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