Bill Sponsor
Senate Bill 1200
117th Congress(2021-2022)
Fair PPP Accounting Act
Introduced
Introduced
Introduced in Senate on Apr 19, 2021
Overview
Text
Introduced
Apr 19, 2021
Latest Action
Apr 19, 2021
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
1200
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.
Sponsorship by Party
Republican
Ohio
Democrat
New Hampshire
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Fair PPP Accounting Act

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.

Text (1)
April 19, 2021
Actions (2)
04/19/2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
04/19/2021
Introduced in Senate
Public Record
Record Updated
Mar 8, 2023 8:12:14 PM