House Bill 2582
117th Congress(2021-2022)
PRACTICAL Act of 2021
Introduced
Introduced in House on Apr 15, 2021
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
2582
Congress
117
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 Revenue Adjustment Calculation To Increase Capital Accessibility Long-term Act of 2021 or the PRACTICAL Act of 2021
This bill modifies eligibility for second draw loans under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the bill provides for a period of 90 consecutive days to determine whether a borrower experienced a loss in revenue from 2019 to 2020 that qualifies them for a second draw loan. Currently, this qualification period must align with a corresponding calendar quarter from the previous year.
April 15, 2021
04/15/2021
Referred to the House Committee on Small Business.
04/15/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:48:45 PM