I 

117TH CONGRESS 

1ST SESSION H. R. 2583 

To modify the calculation of the maximum loan amount under the paycheck 

protection program for farmers, ranchers, and sole proprietors, and for 

other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 15, 2021 

Mrs. HINSON (for herself and Ms. SPANBERGER) introduced the following bill; 

which was referred to the Committee on Small Business 

A BILL 

To modify the calculation of the maximum loan amount 

under the paycheck protection program for farmers, 

ranchers, and sole proprietors, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘PPP Equity Act of 

5 2021’’. 

6 SEC. 2. GROSS REVENUE CALCULATION FOR FARMERS, 

7 RANCHERS, AND SOLE PROPRIETORS. 

8 (a) IN GENERAL.—Section 7(a)(36)(V) of the Small 

9 Business Act (15 U.S.C. 636(a)(36)(V)) is amended— 


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•HR 2583 IH

1 (1) in the subparagraph heading, by striking 

2 ‘‘FARMERS AND RANCHERS’’ and inserting ‘‘FARM3 ERS, RANCHERS, AND SOLE PROPRIETORS’’; 

4 (2) in clause (i)— 

5 (A) in subclause (I), by inserting ‘‘is a sole 

6 proprietor,’’ after ‘‘independent contractor,’’; 

7 and 

8 (B) in subclause (II), by striking ‘‘farm in9 come or expenses on a Schedule F’’ and insert10 ing ‘‘income or expenses on a Schedule C (or 

11 any equivalent successor schedule) or Schedule 

12 F’’; and 

13 (3) in clause (ii)(I)(aa)(AA), by inserting 

14 ‘‘Schedule C (or any equivalent successor schedule) 

15 or’’ before ‘‘Schedule F’’. 

16 (b) CONFORMING AMENDMENTS.—Section 313(b) of 

17 the Economic Aid to Hard-Hit Small Businesses, Non18 profits, and Venues Act (Public Law 116–260) is amend19 ed— 

20 (1) by striking ‘‘DATE;’’ in the subsection head21 ing and all that follows through ‘‘Except’’ and in22 serting ‘‘DATE.—Except’’; and 

23 (2) by striking paragraph (2). 

24 (c) EFFECTIVE DATE; APPLICABILITY.— 


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•HR 2583 IH

1 (1) IN GENERAL.—This Act and the amend2 ments made by this Act shall be effective as if in3 cluded in the CARES Act (Public Law 116–136; 

4 134 Stat. 281) and shall apply to any loan made 

5 pursuant to section 7(a)(36) of the Small Business 

6 Act (15 U.S.C. 636(a)(36)) before, on, or after the 

7 date of enactment of this Act, including forgiveness 

8 of such a loan. 

9 (2) PROCESS FOR BORROWERS PREVIOUSLY EX10 CLUDED.—Not later than 60 days after the date of 

11 the enactment of this Act, the Administrator of the 

12 Small Business Administration shall establish a 

13 process under which a borrower that was prohibited 

14 from requesting a recalculation of a covered loan 

15 under section 7(a)(36)(V)(iv) of the Small Business 

16 Act (15 U.S.C. 636(a)(36)(V)(iv)) because of the 

17 application of section 313(b)(2) of the Economic Aid 

18 to Hard-Hit Small Businesses, Nonprofits, and 

19 Venues Act (Public Law 116–260), as in effect on 

20 the day before the date of the enactment of this Act, 

21 may submit, via mail or online, a request for such 

22 recalculation. 

Æ 


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