S 1232
117th Congress
Senate
Commerce
Agricultural prices, subsidies, credit
Business expenses
Cardiovascular and respiratory health
Emergency medical services and trauma care
Government lending and loan guarantees
Infectious and parasitic diseases
Self-employed
Small business
Wages and earnings
A bill to modify the maximum paycheck protection program loan amount for farmers and ranchers, sole proprietors, independent contractors, and self-employed individuals.
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 20, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Apr 20, 2021
Introduced in Senate
Plain-English 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.
What's happening now
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Committees of jurisdiction
1