[Congressional Record Volume 167, Number 55 (Wednesday, March 24, 2021)]
[Senate]
[Pages S1777-S1778]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                           TEXT OF AMENDMENTS

  SA 1402. Mr. LANKFORD submitted an amendment intended to be proposed 
by him to the bill H.R. 1799, to amend the Small Business Act and the 
CARES Act to extend the covered period for the paycheck protection 
program, and for other purposes; which was ordered to lie on the table; 
as follows:

       At the appropriate place, insert the following:

     SEC. ___. REVISIONS TO LOAN AMOUNT CALCULATION AND 
                   ELIGIBILITY.

       (a) Definitions.--In this section--
       (1) the term ``covered loan'' means a loan made under 
     paragraph (36) or (37) of section 7(a) of the Small Business 
     Act (15 U.S.C. 636(a));
       (2) the term ``eligible applicant'' means a taxpayer that 
     files Internal Revenue Service Form 1040, Schedule C; and
       (3) the term ``interim final rule'' means the interim final 
     rule of the Small Business Administration entitled ``Business 
     Loan Program Temporary Changes; Paycheck Protection Program - 
     Revisions to Loan Amount Calculation and Eligibility'', 
     Docket Number SBA-2021-0010.
       (b) Calculation of Maximum Loan Amount for Certain 
     Applicants.--
       (1) In general.--An eligible applicant applying for a 
     covered loan may calculate the maximum amount of the covered 
     loan using the gross income of the eligible applicant, as 
     reported on the applicable Internal Revenue Service Form 
     1040, Schedule C filed by the eligible applicant.
       (2) Retroactive effect.--Notwithstanding any provision of 
     the interim final rule, paragraph (1) shall apply with 
     respect to any covered loan made to an eligible applicant 
     that is approved on or after the date of enactment of the 
     Economic Aid to Hard-Hit Small Businesses, Nonprofits, and 
     Venues Act (title III of division N of Public Law 116-260).
       (c) Recalculation.--
       (1) In general.--With respect to a covered loan made to an 
     eligible applicant that was approved during the period 
     beginning on the date of enactment of the Economic Aid to 
     Hard-Hit Small Businesses, Nonprofits, and Venues Act (title 
     III of division N of Public Law 116-260) and ending on the 
     day before the date of enactment of this Act, the eligible 
     applicant may submit to the lender with respect to the 
     covered loan a request to recalculate the amount of the 
     covered loan based on the application of this section.
       (2) Supplemental payments.--If, after receiving a request 
     from an eligible applicant under paragraph (1), the 
     applicable lender determines that the amount of the 
     applicable covered loan, because of the application of this 
     section, would be greater than the amount of the covered loan 
     originally made to the eligible applicant, the lender shall 
     provide to the eligible applicant a payment that is equal to 
     the difference between the amount of the covered loan 
     originally made to the eligible applicant and the amount of 
     the covered loan based on the application of this section.
                                 ______
                                 
  SA 1403. Mr. MARSHALL (for himself and Ms. Ernst) submitted an 
amendment intended to be proposed by him to the bill H.R. 1799, to 
amend the Small Business Act and the CARES Act to extend the covered 
period for the paycheck protection program, and for other purposes; 
which was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. PARTNERSHIP PAYCHECK PROTECTION PROGRAM LOAN 
                   CALCULATION AS FARMER OR RANCHER.

       (a) In General.--Section 7(a)(36)(V)(i)(I) of the Small 
     Business Act (15 U.S.C. 636(a)(36)(V)(i)(I)) is amended by 
     inserting ``is a partnership,'' after ``independent 
     contractor,''.
       (b) Effective Date; Applicability.--
       (1) In general.--Except as provided in paragraph (2), the 
     amendment made by subsection (a) shall be effective as if 
     included in the CARES Act (Public Law 116-136; 134 Stat. 281) 
     and shall apply to any loan made pursuant to section 7(a)(36) 
     of the Small Business Act (15 U.S.C. 636(a)(36)) before, on, 
     or after the date of enactment of this Act, including 
     forgiveness of such a loan.
       (2) Exclusion of loans already forgiven.--The amendments 
     made by subsection (a) shall not apply to a loan made 
     pursuant to section 7(a)(36) of the Small Business Act (15 
     U.S.C. 636(a)(36)) for which the borrower received 
     forgiveness before the date of enactment of this Act under 
     section 1106 of the CARES Act (15 U.S.C. 9005).
                                 ______
                                 
  SA 1404. Mr. RISCH submitted an amendment intended to be proposed by 
him to the bill H.R. 1799, to amend the Small Business Act and the 
CARES Act to extend the covered period for the paycheck protection 
program, and for other purposes; which was ordered to lie on the table; 
as follows:

       At the appropriate place, insert the following:

     SEC. ___. INELIGIBILITY OF CERTAIN NONPROFIT ORGANIZATIONS 
                   UNDER THE PAYCHECK PROTECTION PROGRAM.

       Clause (xvii)(I) of section 7(a)(36)(A) of the Small 
     Business Act (15 U.S.C. 636(a)(36)(A)), as added by section 
     5001(a)(1)(A)(iii) of Public Law 117-2, is amended by 
     inserting ``(5) (if the organization is subject to reporting 
     requirements under the Labor-Management Reporting and 
     Disclosure Act of 1959 (29 U.S.C. 401 et seq.)),'' after 
     ``(4),''.
                                 ______
                                 
  SA 1405. Mr. RUBIO (for himself, Mr. Kennedy, Mr. Marshall, Mrs. 
Capito, Mr. Cramer, Mr. Braun, Mr. Lankford, Mr. Barrasso, Mr. Risch, 
and Mr. Scott of South Carolina) submitted an amendment intended to be 
proposed by him to the bill H.R. 1799, to amend the Small Business Act 
and the CARES Act to extend the covered period for the paycheck 
protection program, and for other purposes; which was ordered to lie on 
the table; as follows:

       On page 2, between lines 15 and 16, insert the following:
       (d) Limitation on Prioritization.--During the period 
     beginning on the date of enactment of this Act and ending on 
     the last day of the covered period, as defined in section 
     7(a)(36)(A)(iii) of the Small Business Act (15 U.S.C. 
     636(a)(36)(A)(iii)), as amended by this Act, the 
     Administrator of the Small Business Administration may not 
     establish or enforce any priority for processing lender 
     applications under paragraph (36) or (37) of section 7(a) of 
     the Small Business Act (15 U.S.C. 636(a)), except for any 
     priority reasonably necessary to carry out the set-asides 
     established under section 323(d) of the Economic Aid to Hard-
     Hit Small Businesses, Nonprofits, and Venues Act (title III 
     of division N of Public Law 116-260).
                                 ______
                                 
  SA 1406. Mr. MARSHALL (for himself, Mr. Risch, Mr. Daines, Mr. 
Lankford, Mr. Rubio, and Ms. Ernst) submitted an amendment intended to 
be proposed by him to the bill H.R. 1799, to amend the Small Business 
Act

[[Page S1778]]

and the CARES Act to extend the covered period for the paycheck 
protection program, and for other purposes; which was ordered to lie on 
the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. LIMITATION.

       (a) In General.--Section 7(a)(36)(D) of the Small Business 
     Act (15 U.S.C. 636(a)(36)(D)) is amended by adding at the end 
     the following:
       ``(x) Prohibition on covered loans for planned 
     parenthood.--Planned Parenthood Federation of America, Inc. 
     and any affiliate or clinic of Planned Parenthood Federation 
     of America, Inc. shall not be eligible to receive a covered 
     loan.''.
       (b) Second Draw Loans.--Section 7(a)(37)(A)(iv)(III) of the 
     Small Business Act (15 U.S.C. 636(a)(37)(A)(iv)(III)) is 
     amended--
       (1) in item (aa), by striking ``or'' at the end;
       (2) in item (dd), by striking ``or'' at the end;
       (3) in item (ee), by striking ``and'' at the end and 
     inserting ``or''; and
       (4) by adding at the end the following:
       ``(ff) Planned Parenthood Federation of America, Inc. and 
     any affiliate or clinic of Planned Parenthood Federation of 
     America, Inc.; and''.
       (c) Effective Date.--The amendments made by this section 
     shall be effective as if included in the enactment of the 
     CARES Act (Public Law 116-136).
                                 ______
                                 
  SA 1407. Mr. MURPHY (for Mr. Durbin) proposed an amendment to the 
bill H.R. 1651, to amend the CARES Act to extend the sunset for the 
definition of a small business debtor, and for other purposes; as 
follows:

        Strike section 2(c).
                                 ______
                                 
  SA 1408. Ms. MURKOWSKI submitted an amendment intended to be proposed 
by her to the bill H.R. 1799, to amend the Small Business Act and the 
CARES Act to extend the covered period for the paycheck protection 
program, and for other purposes; which was ordered to lie on the table; 
as follows:

       At the appropriate place, insert the following:

     SEC. __. PPP AND SECOND DRAW LOANS FOR BUSINESSES THAT 
                   EXPERIENCED EXTREME HARDSHIP.

       (a) PPP.--Section 7(a)(36) of the Small Business Act (15 
     U.S.C. 636(a)(36)) is amended--
       (1) in subparagraph (E), in the matter preceding clause 
     (i), by striking ``subparagraph (V)'' and inserting 
     ``subparagraphs (V) and (W)''; and
       (2) by adding at the end the following:
       ``(W) Calculation of maximum loan amount for businesses 
     that experienced extreme hardship.--
       ``(i) Definition.--In this subparagraph, the term `extreme 
     hardship' means, with respect to an eligible recipient 
     applying for assistance under this paragraph--

       ``(I) except as provided in subclauses (II), (III), and 
     (IV), that the eligible recipient had gross receipts during 
     the first, second, third, or, only with respect to an 
     application submitted on or after January 1, 2021, fourth 
     quarter in 2020 that demonstrate not less than a 75 percent 
     reduction from the gross receipts of the eligible recipient 
     during the same quarter in 2019;
       ``(II) if the eligible recipient was not in business during 
     the first or second quarter of 2019, but was in business 
     during the third and fourth quarter of 2019, that the 
     eligible recipient had gross receipts during the first, 
     second, third, or, only with respect to an application 
     submitted on or after January 1, 2021, fourth quarter of 2020 
     that demonstrate not less than a 75 percent reduction from 
     the gross receipts of the eligible recipient during the third 
     or fourth quarter of 2019;
       ``(III) if the eligible recipient was not in business 
     during the first, second, or third quarter of 2019, but was 
     in business during the fourth quarter of 2019, that the 
     eligible recipient had gross receipts during the first, 
     second, third, or, only with respect to an application 
     submitted on or after January 1, 2021, fourth quarter of 2020 
     that demonstrate not less than a 75 percent reduction from 
     the gross receipts of the eligible recipient during the 
     fourth quarter of 2019; or
       ``(IV) if the eligible recipient was not in business during 
     2019, but was in operation on February 15, 2020, that the 
     eligible recipient had gross receipts during the second, 
     third, or, only with respect to an application submitted on 
     or after January 1, 2021, fourth quarter of 2020 that 
     demonstrate not less than a 75 percent reduction from the 
     gross receipts of the eligible recipient during the first 
     quarter of 2020.

       ``(ii) Maximum loan amount.--In calculating the maximum 
     covered loan amount under subparagraph (E) with respect to an 
     eligible recipient that experienced extreme hardship, 
     subclauses (I)(aa)(BB) and (II)(aa)(BB), as applicable, of 
     subparagraph (E)(i) shall be applied by substituting `3.5' 
     for `2.5'.''.
       (b) Second Draw.--Section 7(a)(37) of the Small Business 
     Act (15 U.S.C. 636(a)(37)) is amended--
       (1) in subparagraph (A)(i), by inserting `` `extreme 
     hardship,' '' after `` `eligible self-employed individual,' 
     ''; and
       (2) in subparagraph (C), by adding at the end the 
     following:
       ``(v) Extreme hardship.--In calculating the maximum loan 
     amount under clause (i), (ii), or (iii) with respect to an 
     eligible entity that experienced extreme hardship, clause 
     (i)(I)(bb), (ii)(I)(bb), and (iii)(I)(bb), as applicable, 
     shall be applied by substituting `3.5' for `2.5'.''.
       (c) Covered Period for Loan Forgiveness for Second Draw 
     Loans.--Section 7(a)(37)(J)(i) of the Small Business Act (15 
     U.S.C. 636(a)(37)(J)(i)) is amended to read as follows:
       ``(i) Definition of covered period.--In this subparagraph, 
     the term `covered period' means the period--

       ``(I) beginning on the date of the origination of a covered 
     loan; and
       ``(II) ending on a date selected by the eligible recipient 
     of the covered loan that occurs during the period--

       ``(aa) beginning on the date that is 8 weeks after such 
     date of origination; and
       ``(bb) ending on the date that is 52 weeks after such date 
     of origination.''.
       (d) Applicability.--The amendments made by this section 
     shall apply--
       (1) for the amendments made by subsections (a) and (b), 
     with respect to an applicant for a loan under paragraph (36) 
     or (37) of section 7(a) of the Small Business Act (15 U.S.C. 
     636(a)(37)) before, on, or after the date of enactment of 
     this Act; and
       (2) for the amendment made by subsection (c), with respect 
     to an applicant for loan forgiveness under section 
     7(a)(37)(J) of that Act (15 U.S.C. 636(a)(37)(J)) that has 
     not yet received the loan forgiveness.

                          ____________________