[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 3833 Placed on Calendar Senate (PCS)]
<DOC>
Calendar No. 454
116th CONGRESS
2d Session
S. 3833
To extend the loan forgiveness period for the paycheck protection
program, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
May 21, 2020
Mr. Rubio (for himself, Mr. Cardin, Ms. Collins, Mrs. Shaheen, Mr.
Durbin, Mr. Gardner, Mr. Daines, Mr. Tillis, Mr. Braun, and Mrs.
Blackburn) introduced the following bill; which was read the first time
June 1, 2020
Read the second time and placed on the calendar
_______________________________________________________________________
A BILL
To extend the loan forgiveness period for the paycheck protection
program, 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 ``Paycheck Protection Program
Extension Act''.
SEC. 2. AMENDMENTS TO THE PAYCHECK PROTECTION PROGRAM AND LOAN
FORGIVENESS.
(a) Covered Period and Allowable Uses for Loans.--Section 7(a)(36)
of the Small Business Act (15 U.S.C. 636(a)(36)) is amended--
(1) in subparagraph (A)(iii), by striking ``June 30, 2020''
and inserting ``December 31, 2020''; and
(2) in subparagraph (F)--
(A) in subclause (VI), by striking ``and'' at the
end;
(B) in subclause (VII), by striking the period at
the end and inserting ``; and''; and
(C) by adding at the end the following:
``(VIII) covered worker protection
expenditures, as defined in section
1106(a) of the CARES Act (Public Law
116-136).'';
(b) Loan Forgiveness.--Section 1106 of the CARES Act (Public Law
116-136) is amended--
(1) in subsection (a)--
(A) in paragraph (3), by striking ``8-week'' and
inserting ``16-week'';
(B) by redesignating paragraphs (6), (7), and (8)
as paragraphs (7), (8) and (9), respectively;
(C) by inserting after paragraph (5) the following:
``(6) the term `covered worker protection expenditure'--
``(A) means an operating or a capital expenditure,
as determined in accordance with generally accepted
accounting principles, that is required to facilitate
the adaptation of the business activities of an
eligible recipient to comply with requirements
established or guidance issued by the Department of
Health and Human Services, the Centers for Disease
Control, or the Occupational Safety and Health
Administration during the period beginning on March 1,
2020 and ending December 31, 2020 related to the
maintenance of standards for sanitation, social
distancing, or any other worker or customer safety
requirement related to COVID-19;
``(B) may include--
``(i) the purchase, maintenance, or
renovation of assets that create or expand--
``(I) a drive-through window
facility;
``(II) an indoor, outdoor, or
combined air or air pressure
ventilation or filtration system;
``(III) a physical barrier such as
a sneeze guard;
``(IV) an indoor, outdoor, or
combined commercial real property;
``(V) an onsite or offsite health
screening capability; or
``(VI) other assets relating to the
compliance with the requirements or
guidance described in subparagraph (A),
as determined by the Administrator in
consultation with the Secretary of
Health and Human Services and the
Secretary of Labor; and
``(ii) the purchase of--
``(I) covered materials described
in section 328.103(a) of title 44, Code
of Federal Regulations, or any
successor regulation;
``(II) particulate filtering
facepiece respirators approved by the
National Institute for Occupational
Safety and Health, including those
approved only for emergency use
authorization; or
``(III) other kinds of personal
protective equipment, as determined by
the Administrator in consultation with
the Secretary of Health and Human
Services and the Secretary of Labor;
and
``(C) does not include residential real property or
intangible property.''; and
(D) in paragraph (8), as so redesignated--
(i) in subparagraph (C), by striking
``and'' at the end; and
(ii) by adding at the end the following:
``(E) covered worker protection expenditures;
and'';
(2) in subsection (b), by adding at the end the following:
``(5) Any covered worker protection expenditure.'';
(3) in subsection (d)--
(A) in paragraph (5)(B)--
(i) by striking ``date of enactment of this
Act'' each place that term appears and
inserting ``date of enactment of the Paycheck
Protection Program Extension Act''; and
(ii) 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'';
(B) by redesignating paragraph (6) as paragraph
(7); and
(C) by inserting after paragraph (5) the following:
``(6) Hold harmless.--
``(A) In general.--The amount of loan forgiveness
under this section received by an eligible recipient of
a covered loan shall not be reduced because of a
reduction in number of employees described in paragraph
(2) or a reduction relating to salary and wages
described in paragraph (3) that occurs outside of the
8-week safe harbor period of the eligible recipient
described in subparagraph (B).
``(B) 8-week safe harbor period.--An eligible
recipient of a covered loan may elect a contiguous 8-
week period that occurs during the covered period for
purposes of the safe harbor period described in
subparagraph (A).
``(C) Application date.--An eligible recipient that
has a forgiveness amount under this section that is
equivalent to the amount of the covered loan received
by the recipient and that elects an 8-week safe harbor
period described in subparagraph (B) may apply for loan
forgiveness at the end of the 8-week safe harbor period
elected by the eligible recipient.'';
(4) in subsection (e)--
(A) in paragraph (2), by inserting ``covered worker
protection expenditures,'' after ``lease
obligations,''; and
(B) in paragraph (3), by inserting ``make payments
on covered worker protection expenditures,'' after
``rent obligation,''; and
(5) by amending subsection (h) to read as follows:
``(h) Hold Harmless.--
``(1) In general.--A lender may rely on any certification
or documentation submitted by an applicant for a covered loan
or an eligible recipient of a covered loan that--
``(A) is submitted pursuant to any statutory
requirement relating to covered loans or any rule or
guidance issued to carry out any action relating to
covered loans; and
``(B) attests that the applicant or eligible
recipient, as applicable, has accurately verified any
certification or documentation provided to the lender.
``(2) No enforcement action.--With respect to a lender that
relies on a certification or documentation described in
paragraph (1)--
``(A) an enforcement action may not be taken
against the lender acting in good faith relating to
origination or forgiveness of a covered loan based on
such reliance; and
``(B) the lender acting in good faith shall not be
subject to any penalties relating to origination or
forgiveness of a covered loan based on such
reliance.''.
Calendar No. 454
116th CONGRESS
2d Session
S. 3833
_______________________________________________________________________
A BILL
To extend the loan forgiveness period for the paycheck protection
program, and for other purposes.
_______________________________________________________________________
June 1, 2020
Read the second time and placed on the calendar