HR 2582
117th Congress
House
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
PRACTICAL Act of 2021
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 15, 2021
Referred to the House Committee on Small Business.
Apr 15, 2021
Introduced in House
Plain-English 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.
What's happening now
Referred to the House Committee on Small Business.
Committees of jurisdiction
1