Senate Bill 3865
116th Congress(2019-2020)
Paycheck Protection Program Second Chance Act
Introduced
Introduced
Introduced in Senate on Jun 2, 2020
Overview
Text
Introduced
Jun 2, 2020
Latest Action
Jun 10, 2020
Origin Chamber
Senate
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
3865
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.
Sponsorship by Party
No Senate votes have been held for this bill.
Summary

Paycheck Protection Program Second Chance Act

This bill requires specified treatment of certain criminal violations under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

Specifically, the bill provides that an entity shall not be ineligible for a paycheck protection loan if certain owners have prior arrests or convictions, unless the owner (1) is incarcerated as of the date of the loan application, or (2) has been convicted of a felony of financial fraud or deception during the five-year period prior to the loan application.

Text (1)
Actions (3)
06/10/2020
Committee on Small Business and Entrepreneurship. Hearings held.
06/02/2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
06/02/2020
Introduced in Senate
Public Record
Created
Jun 3, 2020 4:27:08 AM
Updated
Nov 12, 2020 3:15:22 PM