S 3714 116th Congress Senate Commerce Business expenses Cardiovascular and respiratory health Emergency medical services and trauma care Government lending and loan guarantees Infectious and parasitic diseases Small business Wages and earnings

PPP DEAL Act

Introduced: May 13, 2020 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 13, 2020

Read twice and referred to the Committee on Small Business and Entrepreneurship.

May 13, 2020

Introduced in Senate

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Plain-English summary Congressional Research Service

PPP Deadline Extension Adjustment for Loans Act or the PPP DEAL Act

This bill modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) by (1) extending from 8 weeks to 16 weeks the period during which a loan recipient must use their paycheck protection loan to be eligible for forgiveness; and (2) allowing a recipient 16 weeks from the date of the loan to eliminate a reduction in workforce, salary, or wages that would otherwise reduce their forgivable amount.

What's happening now May 13, 2020

Read twice and referred to the Committee on Small Business and Entrepreneurship.

Related & companion bills 1

Bill text 1 version