3.0.0 6893 2023-01-11T13:42:54Z 2023-01-11T13:42:54Z House HR 2020-05-15 116 [Congressional Record Volume 166, Number 92 (Friday, May 15, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. BEATTY:H.R. 6893.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the U.S. Constitution[Page H2261]]]> hssm00 Small Business Committee House Standing Referred to 2020-05-15T13:04:05Z 2020-05-15 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2020-05-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-05-15 Introduced in House IntroReferral 1000 9 Library of Congress B001281 Rep. Beatty, Joyce [D-OH-3] Joyce Beatty D OH 3 N G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2020-05-15 True Commerce Appropriations Business expenses Cardiovascular and respiratory health Congressional oversight Emergency medical services and trauma care Executive agency funding and structure Government lending and loan guarantees Infectious and parasitic diseases Self-employed Small Business Administration Small business Social work, volunteer service, charitable organizations Wages and earnings Commerce 00 2020-05-15 Introduced in House 2020-09-23T14:46:47Z Making Opportunities a Reality for Entrepreneurs Paycheck Protection Program or the More PPP Act

This bill provides additional funding for and modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

Specifically, the bill increases funding for paycheck protection loans by $560 billion, and it provides additional funding of $571 billion for paycheck protection loans through FY2021. Further, the bill sets aside $200 billion for paycheck protection loans to businesses and nonprofit organizations with 25 or fewer employees, sole proprietors, independent contractors, and self-employed individuals.

The bill also modifies eligibility for the program by (1) making publicly traded companies ineligible to participate, and (2) requiring borrowers to certify a decline in revenue of 20% or more. Further, the bill makes it unlawful for a lender to discriminate against or give preferential treatment to any eligible recipient.

The Small Business Administration must report on the demographic data, including race, gender, and ethnicity, of paycheck protection loan recipients.

]]> More PPP Act Display Title More PPP Act Official Title as Introduced To amend the CARES Act and the Small Business Act to make certain adjustments to the paycheck protection program, and for other purposes. Introduced in House IH Short Title(s) as Introduced More PPP Act Introduced in House IH Short Title(s) as Introduced Making Opportunities a Reality for Entrepreneurs Paycheck Protection Program Introduced in House IH Introduced in House 2020-05-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr6893ih/xml/BILLS-116hr6893ih.xml 2020-05-15 Referred to the House Committee on Small Business. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.