116th CONGRESS 2d Session |
To amend the Small Business Act to include certain business and labor organizations in the paycheck protection program, and for other purposes.
April 17, 2020
Mr. Smith of New Jersey (for himself and Mr. Norcross) introduced the following bill; which was referred to the Committee on Small Business
To amend the Small Business Act to include certain business and labor organizations in the paycheck protection program, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Paycheck Protection Program Expansion Act of 2020” or the “PPP Expansion Act of 2020”.
SEC. 2. Inclusion of certain business organizations in the paycheck protection program.
Section 7(a)(36)(A)(vii) of the Small Business Act is amended by striking “section 501(c)(3) of the Internal Revenue Code of 1986” and inserting “paragraph (3), (5), or (6) of section 501(c) of the Internal Revenue Code of 1986”.