US Congress Senate Bill 4117 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 28-4-1)
Status: Introduced on June 30 2020 - 25% progression, died in committee
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]

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.

Paycheck Protection Small Business Forgiveness Act

Sen. Kevin Cramer [R-ND]	Sen. Robert Menendez [D-NJ]	Sen. Thom Tillis [R-NC]	Sen. Kyrsten Sinema [I-AZ]
Sen. Tom Cotton [R-AR]	Sen. Shelley Capito [R-WV]	Sen. Martha McSally [R-AZ]	Sen. Mike Crapo [R-ID]
Sen. John Cornyn [R-TX]	Sen. Jerry Moran [R-KS]	Sen. David Perdue [R-GA]	Sen. Kelly Loeffler [R-GA]
Sen. Lisa Murkowski [R-AK]	Sen. John Barrasso [R-WY]	Sen. Mike Rounds [R-SD]	Sen. Steve Daines [R-MT]
Sen. Joe Manchin [D-WV]	Sen. Roy Blunt [R-MO]	Sen. John Boozman [R-AR]	Sen. Ted Cruz [R-TX]
Sen. Richard Burr [R-NC]	Sen. Bill Cassidy [R-LA]	Sen. Cory Gardner [R-CO]	Sen. Roger Wicker [R-MS]
Sen. Dan Sullivan [R-AK]	Sen. Doug Jones [D-AL]	Sen. James Lankford [R-OK]	Sen. Cindy Hyde-Smith [R-MS]
Sen. John Kennedy [R-LA]	Sen. James Inhofe [R-OK]	Sen. Michael Enzi [R-WY]	Sen. Ben Sasse [R-NE]
Sen. Jacky Rosen [D-NV]

Date	Chamber	Action
2020-06-30	Senate	Read twice and referred to the Committee on Small Business and Entrepreneurship.

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

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/4117/all-info
Text	https://www.congress.gov/116/bills/s4117/BILLS-116s4117is.pdf