Senate Bill 1232
117th Congress(2021-2022)
A bill to modify the maximum paycheck protection program loan amount for farmers and ranchers, sole proprietors, independent contractors, and self-employed individuals.
Introduced
Introduced in Senate on Apr 20, 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
1232
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 Senate votes have been held for this bill.
Summary
This bill modifies the calculation of loan amounts for partnerships with no employees (e.g., self-employed farmers) under the Paycheck Protection Program, which was established to support small businesses in response to COVID-19.
Specifically, the bill allows such individuals to apply for a loan in the amount of the difference between their gross and net income loan amounts, even if they have already received a loan based on their net income and received forgiveness for that loan.
April 20, 2021
04/20/2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
04/20/2021
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:49:17 PM