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Bills
Senate Bill 4773
116th Congress(2019-2020)
A bill to establish the Paycheck Protection Program Second Draw Loan, and for other purposes.
Introduced
Introduced
Introduced in Senate on Sep 30, 2020
Overview
Text
Introduced
Sep 30, 2020
Latest Action
Oct 1, 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
4773
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
Republican
Susan Collins
Maine
Republican
Marco Rubio
Florida
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Continuing the Paycheck Protection Program Act

This bill establishes funding for, expands, and provides additional economic assistance to small businesses in response to COVID-19.

Specifically, the Small Business Administration is authorized to provide second draw loans of up to $2 million under the Paycheck Protection Program. A recipient shall be eligible for forgiveness of a second draw loan in the same manner as an initial paycheck protection loan.

Further the bill modifies the Paycheck Protection Program by, among other things, (1) expanding forgivable expenses, (2) allowing borrowers to select an eight-week period to use their paycheck protection loan, (3) simplifying the forgiveness application for smaller loans, (4) expanding eligibility to certain chambers of commerce and destination marketing organizations, and (5) establishing a specific loan calculation for farmers and ranchers.

Text (1)
Placed on Calendar Senate
October 1, 2020
Related Bills (5)
Sep 30, 2020
Introduced in Senate
1
Sponsorship
Senate Bill 4775
A bill to provide continued emergency assistance, educational support, and health care response for individuals, families, and businesses affected by the 2020 coronavirus pandemic.
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Sep 16, 2020
Introduced in House
70
Sponsorship
House Bill 8265
To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes.
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Aug 22, 2020
Introduced in House
1
Sponsorship
House Bill 8087
To amend the Small Business Act and the CARES Act to establish a program for second draw loans and make other modifications to the paycheck protection program, and for other purposes.
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Jun 11, 2020
Introduced in House
17
Sponsorship
House Bill 7175
Paycheck Protection for Producers Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Jun 09, 2020
Introduced in Senate
3
Sponsorship
Senate Bill 3918
Paycheck Protection for Producers Act
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (3)
10/01/2020
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 562.
09/30/2020
Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
09/30/2020
Introduced in Senate
Public Record
Record Updated
Dec 29, 2021 10:23:38 PM
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