I 

117TH CONGRESS 

1ST SESSION H. R. 6252 

To permit certain businesses to select an alternative covered period for loan 

forgiveness under the Paycheck Protection Program and provide certain 

businesses additional loan forgiveness, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

DECEMBER 13, 2021 

Mr. NADLER (for himself, Ms. NORTON, and Mrs. CAROLYN B. MALONEY of 

New York) introduced the following bill; which was referred to the Committee on Small Business 

A BILL 

To permit certain businesses to select an alternative covered 

period for loan forgiveness under the Paycheck Protection Program and provide certain businesses additional 

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 ‘‘Low-Revenue Recipi5 ent Paycheck Protection Program Relief Act of 2021’’. 

6 SEC. 2. LOW-REVENUE RECIPIENT LOAN FORGIVENESS. 

7 (a) IN GENERAL.—Section 7A of the Small Business 

8 Act (15 U.S.C. 636m) is amended— 


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1 (1) in subsection (i)— 

2 (A) in paragraph (1), by inserting ‘‘or 

3 (m)(2)’’ after ‘‘subsection (b)’’; and 

4 (B) in paragraph (3)(B), by inserting ‘‘or 

5 (m)(2)’’ after ‘‘subsection (b)’’; and 

6 (2) by adding at the end the following: 

7 ‘‘(m) LOW-REVENUE RECIPIENTS LOAN FORGIVE8 NESS.— 

9 ‘‘(1) IN GENERAL.—With respect to a covered 

10 loan received by a low-revenue recipient not later 

11 than December 1, 2020, and for which such low-rev12 enue recipient has received no loan forgiveness under 

13 this section, at the election of such low-revenue re14 cipient, the term ‘covered period’ shall, for the pur15 poses of this section, mean the period— 

16 ‘‘(A) beginning on the earlier of— 

17 ‘‘(i) the date selected by the low-rev18 enue recipient; or 

19 ‘‘(ii) September 1, 2021; and 

20 ‘‘(B) ending on a date selected by the eligi21 ble recipient of the covered loan that occurs 

22 during the period— 

23 ‘‘(i) beginning on the date that is 8 

24 weeks after the start date of the covered 

25 period specified in subparagraph (A); and 


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1 ‘‘(ii) ending on the date that is 24 

2 weeks after the start date of the covered 

3 period specified in such subparagraph. 

4 ‘‘(2) ADDITIONAL LOAN FORGIVENESS.— 

5 ‘‘(A) IN GENERAL.—A low-revenue recipi6 ent that received loan forgiveness under this 

7 section for a covered loan received not later 

8 than December 1, 2020, shall be eligible for ad9 ditional forgiveness of indebtedness on such 

10 covered loan in accordance with this paragraph. 

11 ‘‘(B) ADDITIONAL FORGIVENESS CALCULA12 TION.—The amount of forgiveness of indebted13 ness on a covered loan for which a low-revenue 

14 recipient is eligible under this paragraph is the 

15 amount equal to the difference between— 

16 ‘‘(i) the amount of forgiveness of in17 debtedness on such covered loan that such 

18 low-revenue recipient would be eligible for 

19 under this section, as in effect on the date 

20 on which such low-revenue recipient applies 

21 for loan forgiveness under this paragraph, 

22 if— 

23 ‘‘(I) such low-revenue recipient 

24 had not received any loan forgiveness 


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1 for such covered loan under this sec2 tion; 

3 ‘‘(II) for the purposes of this sec4 tion, the term ‘covered period’ meant 

5 the period described in paragraph (1); 

6 and 

7 ‘‘(III) for the purposes of para8 graphs (5) and (7) of subsection (d), 

9 such covered loan was made on or 

10 after the date of the enactment of the 

11 Economic Aid to Hard-Hit Small 

12 Businesses, Nonprofits, and Venues 

13 Act (Public Law 116–260; 134 Stat. 

14 1993); and 

15 ‘‘(ii) the amount of loan forgiveness 

16 for such covered loan that such low-rev17 enue recipient received under this section. 

18 ‘‘(C) EXCESS PAYMENT REFUND.—If the 

19 Administrator, pursuant to loan forgiveness 

20 under this paragraph and in accordance with 

21 subsection (c)(3), makes a remittance to a lend22 er in an amount exceeding the total outstanding 

23 balance of the applicable covered loan, including 

24 any accrued interest, the lender shall pay to the 


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1 low-revenue recipient an amount equal to such 

2 excess. 

3 ‘‘(D) ADDITIONAL FORGIVENESS LIMIT.— 

4 No low-revenue recipient may receive loan for5 giveness under this paragraph more than once. 

6 ‘‘(3) LOW-REVENUE RECIPIENT DEFINED.—In 

7 this subsection, the term ‘low-revenue recipient’ 

8 means an eligible recipient that received a covered 

9 loan not later than December 1, 2020, and— 

10 ‘‘(A) was not in operation during the pe11 riod beginning on April 1, 2020, and ending on 

12 December 31, 2020; or 

13 ‘‘(B) during such period, had gross re14 ceipts of not more than 20 percent of the gross 

15 receipts of such eligible recipient during the 

16 corresponding period in 2019.’’. 

17 (b) REGULATIONS.—Not later than two weeks after 

18 the date of the enactment of this Act, the Administrator 

19 of the Small Business Administration shall issue regula20 tions carrying out subsection (m) of section 7A of the 

21 Small Business Act (15 U.S.C. 636m), as added by sub22 section (a) of this Act. 

Æ 


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