[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 3714 Introduced in Senate (IS)]

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116th CONGRESS
  2d Session
                                S. 3714

  To extend the covered period for loan forgiveness and the rehiring 
          period under the CARES Act, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                              May 13, 2020

 Mr. Manchin (for himself, Mr. Romney, Mr. Leahy, Mr. Gardner, and Mr. 
Wyden) introduced the following bill; which was read twice and referred 
        to the Committee on Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
  To extend the covered period for loan forgiveness and the rehiring 
          period under the CARES Act, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``PPP Deadline Extension Adjustment 
for Loans Act'' or the ``PPP DEAL Act''.

SEC. 2. EXTENSION OF LOAN FORGIVENESS PERIOD AND REHIRING PERIOD UNDER 
              CARES ACT.

    Section 1106 of the CARES Act (Public Law 116-136) is amended--
            (1) in subsection (a)(3), by striking ``8-week'' and 
        inserting ``16-week''; and
            (2) in subsection (d)(5)(B), by striking ``June 30, 2020'' 
        each place that term appears and inserting ``the date that is 
        16 weeks after the date of the origination of the covered 
        loan''.
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