US Congress Senate Bill 4489 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on August 6 2020 - 25% progression, died in committee
Action: 2020-08-06 - 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 reduces the amount of loan forgiveness by (1) the amount of a recipient's after-tax income, or (2) the increase in net assets if the recipient is a nonprofit organization. A recipient seeking loan forgiveness must submit documentation verifying after-tax income and net assets to determine any paycheck protection loan repayment. Further, the bill requires the disclosure of paycheck protection loan information in accordance with applicable laws.

Paycheck Protection Program Integrity Act of 2020

Sen. Ron Johnson [R-WI]

Date	Chamber	Action
2020-08-06	Senate	Read twice and referred to the Committee on Small Business and Entrepreneurship.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/4489/all-info
Text	https://www.congress.gov/116/bills/s4489/BILLS-116s4489is.pdf