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House Bill 6816
116th Congress(2019-2020)
Promoting Flexibility for Small Business Owners Act
Introduced
Introduced
Introduced in House on May 12, 2020
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Introduced in House 
May 12, 2020
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Introduced in House(May 12, 2020)
May 12, 2020
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H. R. 6816 (Introduced-in-House)


116th CONGRESS
2d Session
H. R. 6816


To amend the CARES Act to provide additional time for employers to maximize their loan forgiveness under the paycheck protection program, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

May 12, 2020

Mr. Gonzalez of Ohio (for himself, Mr. Joyce of Ohio, Mr. LaHood, Mrs. Murphy of Florida, and Mr. Wenstrup) introduced the following bill; which was referred to the Committee on Small Business

A BILL

To amend the CARES Act to provide additional time for employers to maximize their loan forgiveness under 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,

SECTION 1. Short title.

This Act may be cited as the “Promoting Flexibility for Small Business Owners Act”.

SEC. 2. Additional time to maximize loan forgiveness under the paycheck protection program.

Section 1106 of the CARES Act (Public Law 116–136) is amended—

(1) in subsection (a)(3), by striking “the 8-week period beginning on” and inserting the following: “the 12-week period beginning on the date that is the earlier of—

“(A) the date selected by the borrower; or

“(B) the date that is 30 days after”; and

(2) in subsection (d)(5)—

(A) in subparagraph (B)—

(i) in clause (i)(II), by striking “June 30, 2020” and inserting “July 31, 2020”; and

(ii) in clause (ii)(II), by striking “June 30, 2020” and inserting “July 31, 2020”; and

(B) by adding at the end the following new subparagraph:

“(C) EXTENSION.—

“(i) IN GENERAL.—The Administrator, in coordination with the Secretary of the Treasury, may extend the deadlines described in clauses (i)(II) and (ii)(II) of subparagraph (B) for entities within certain industry categories, as determined by the Administrator in accordance with the North American Industry Classification System codes.

“(ii) CRITERIA.—When making a determination whether to extend a deadline under clause (i), the Administrator shall consider—

“(I) the restrictions on the operations of the industry category imposed by Federal, State, or local governments based on COVID–19;

“(II) industry category revenue as compared to industry category revenue at the same time in prior years;

“(III) unemployment levels in the industry category as compared to unemployment levels in the industry category in prior years; and

“(IV) such other criteria as determined by the Administrator, in consultation with the Secretary of the Treasury, to be appropriate.”.