House Bill 6981
116th Congress(2019-2020)
PPP DEAL Act
Introduced
Introduced in House on May 22, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6981
Congress
116
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
PPP Deadline Extension Adjustment for Loans Act or the PPP DEAL Act
This bill modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) by (1) extending from 8 weeks to 16 weeks the period during which a loan recipient must use their paycheck protection loan to be eligible for forgiveness; and (2) allowing a recipient 16 weeks from the date of the loan to eliminate a reduction in workforce, salary, or wages that would otherwise reduce their forgivable amount.
May 22, 2020
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05/22/2020
Referred to the House Committee on Small Business.
05/22/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:42:50 PM