[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 4885 Introduced in Senate (IS)]

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116th CONGRESS
  2d Session
                                S. 4885

  To amend the CARES Act to provide that EIDL emergency grant advance 
          payments shall not be subject to certain reductions.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           November 10, 2020

Mrs. Blackburn introduced the following bill; which was read twice and 
    referred to the Committee on Small Business and Entrepreneurship

_______________________________________________________________________

                                 A BILL


 
  To amend the CARES Act to provide that EIDL emergency grant advance 
          payments shall not be subject to certain reductions.

    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 ``EIDL Advance Protection Act''.

SEC. 2. EMERGENCY EIDL GRANT ADVANCE PAYMENTS.

    Section 1110(e)(6) of the CARES Act (15 U.S.C. 9009(e)(6)) is 
amended--
            (1) by striking ``If an applicant'' and inserting the 
        following:
                    ``(A) In general.--Except as provided in 
                subparagraph (B), if an applicant''; and
            (2) by adding at the end the following:
                    ``(B) Exception for paycheck protection program 
                loan forgiveness.--If an applicant that receives an 
                advance under this subsection transfers into, or is 
                approved for, the loan program under paragraph (36) of 
                section 7(a) of the Small Business Act (15 U.S.C. 
                636(a)), as added by section 1102(a) of this Act, the 
                advance amount may not be reduced from the loan 
                forgiveness amount for a loan for payroll costs made 
                under such paragraph (36), as determined under section 
                1106.''.
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