S 4117
116th Congress
Senate
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Paycheck Protection Small Business Forgiveness Act
Introduced: June 30, 2020
Introduced by:
Cramer, Kevin
Republican
· North Dakota
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 30, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Jun 30, 2020
Introduced in Senate
Plain-English summary
Paycheck Protection Small Business Forgiveness Act
This bill modifies loan forgiveness 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 automatic forgiveness of a paycheck protection loan that is not more than $150,000 if the recipient submits a one-page form. Further, it prohibits any enforcement or other action against a lender relating to loan origination, forgiveness, or guarantee based on the lender's reliance on certifications or documentation submitted by a loan applicant or recipient.
What's happening now
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Committees of jurisdiction
1