I 

116TH CONGRESS 

2D SESSION H. R. 7413 

To direct the Administrator of the Small Business Administration to establish 

or certify a calculator that assists lenders and recipients with paycheck 

protection program loan forgiveness, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JUNE 29, 2020 

Mrs. WAGNER (for herself and Mr. CLAY) introduced the following bill; which 

was referred to the Committee on Small Business 

A BILL 

To direct the Administrator of the Small Business Administration to establish or certify a calculator that assists 

lenders and recipients with paycheck protection program 

loan forgiveness, 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 ‘‘Calculate PPP For5 giveness Act of 2020’’. 


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•HR 7413 IH

1 SEC. 2. CALCULATOR FOR PAYCHECK PROTECTION PRO2 GRAM LOAN FORGIVENESS. 

3 (a) IN GENERAL.—The Administrator of the Small 

4 Business Administration shall take actions, in accordance 

5 with this section, to ensure the availability of a calculator 

6 with respect to forgiveness of covered loans that— 

7 (1) is easily accessible by the public online; 

8 (2) can be utilized without cost; 

9 (3) with respect to a covered loan, allows a 

10 lender or recipient to accurately estimate the 

11 amount of loan forgiveness related to such loan; and 

12 (4) assists a lender or recipient to complete an 

13 application to request loan forgiveness with respect 

14 to a covered loan. 

15 (b) MANNER OF PROVISION.—Not later than 5 days 

16 after the date of enactment of this Act, the Administrator 

17 shall establish, and thereafter maintain, at least one of 

18 the following: 

19 (1) A calculator that satisfies the requirements 

20 specified in subsection (a). 

21 (2) A process to certify a calculator established 

22 and maintained by a third party that satisfies such 

23 requirements. 

24 (c) CERTIFICATION PROCESS REQUIREMENTS.— 

25 (1) IN GENERAL.—If, under subsection (b), the 

26 Administrator elects only to establish the certifiVerDate Sep 11 2014 01:34 Jul 23, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H7413.IH H7413

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1 cation process referenced in paragraph (2) of that 

2 subsection, the Administrator— 

3 (A) not later than 10 days after the date 

4 of enactment of this Act, shall certify at least 

5 one calculator that satisfies the requirements 

6 specified in subsection (a); 

7 (B) upon request, shall review and, after a 

8 certification under subparagraph (A), may cer9 tify additional calculators that satisfy the re10 quirements specified in paragraphs (1), (3), and 

11 (4) of subsection (a) (with certification deter12 minations made not later than 10 days after 

13 the receipt of an application for review); and 

14 (C) not later than 10 days after the date 

15 of enactment of this Act, and weekly thereafter, 

16 shall make available to the public online a list 

17 specifying the calculators— 

18 (i) certified pursuant to this section; 

19 and 

20 (ii) under review for certification. 

21 (2) ASSISTED APPLICATIONS.—The Adminis22 trator shall accept an application to request loan for23 giveness with respect to a covered loan submitted 

24 with the assistance of a calculator certified under 

25 this section. 


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1 (3) USE OF LOGO.—The Administrator may es2 tablish a logo that a third party may utilize to sig3 nify that a calculator is certified pursuant to this 

4 section. 

5 (d) COORDINATION WITH DEPARTMENT OF THE

6 TREASURY.—The Administrator shall carry out this sec7 tion in coordination with the Secretary of the Treasury. 

8 (e) COVERED LOAN DEFINED.—In this section, the 

9 term ‘‘covered loan’’ has the meaning given such term in 

10 section 7(a)(36) of the Small Business Act (15 U.S.C. 

11 636(a)(36)). 

12 (f) EXPIRATION.—The requirements under this sec13 tion shall cease to have effect on October 31, 2021. 

Æ 


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