PPP Extension Act of 2021
Bill: H.R.1799 | Sponsor: Rep. Bourdeaux, Carolyn (D-GA)
Policy area: Commerce

Summary:
PPP Extension Act of 2021
This bill extends the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), through June 30, 2021. Currently, the program is set to expire on March 31, 2021.
For the final 30 days of the program (i.e., from June 1 until June 30), the Small Business Administration may only process applications submitted prior to June 1, and it may not accept any new loan applications.
The bill excludes the budgetary effects of this bill from PAYGO scorecards under the Statutory Pay-As-You-Go Act of 2010 and from Senate PAYGO scorecards.

[117th Congress Public Law 6]
[From the U.S. Government Publishing Office]



[[Page 135 STAT. 250]]

Public Law 117-6
117th Congress

                                 An Act


 
To amend the Small Business Act and the CARES Act to extend the covered 
       period for the paycheck protection program, and for other 
            purposes. <<NOTE: Mar. 30, 2021 -  [H.R. 1799]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: PPP Extension 
Act of 2021. 15 USC 631 note.>> 
SECTION 1. SHORT TITLE.

    This Act may be cited as the ``PPP Extension Act of 2021''.
SEC. 2. EXTENSION OF COVERED PERIOD FOR PAYCHECK PROTECTION 
                    PROGRAM.

    (a) In General.--Section 7(a)(36)(A)(iii) of the Small Business Act 
(15 U.S.C. 636(a)(36)(A)(iii)) is amended by striking ``March 31, 2021'' 
and inserting ``June 30, 2021''.
    (b) Funding.--Section 1102(b)(1) of the CARES Act (Public Law 116-
136), as amended by section 323 of the Economic Aid to Hard-Hit Small 
Businesses, Nonprofits, and Venues Act (Public Law 116-260), <<NOTE: 134 
Stat. 2018.>>  is amended by striking ``March 31, 2021'' and inserting 
``June 30, 2021''.

    (c) <<NOTE: 15 USC 636 note.>>  Restriction.--From June 1, 2021, 
through June 30, 2021, the Administrator of the Small Business 
Administration shall not accept new lender applications for loans under 
paragraph (36) or (37) of section 7(a) of the Small Business Act (15 
U.S.C. 636(a)) and shall only process such lender applications that have 
been submitted to the Administrator before June 1, 2021.
SEC. 3. DETERMINATION OF BUDGETARY EFFECTS.

    (a) In General.--The budgetary effects of this Act shall not be 
entered on either PAYGO scorecard maintained pursuant to section 4(d) of 
the Statutory Pay-As-You-Go Act of 2010 (2 U.S.C. 933(d)).
    (b) Senate Paygo Scorecards.--The budgetary effects of this Act 
shall not be entered on any PAYGO scorecard maintained for purposes of 
section 4106 of H. Con. Res. 71 (115th Congress).

    Approved March 30, 2021.

LEGISLATIVE HISTORY--H.R. 1799:
---------------------------------------------------------------------------

CONGRESSIONAL RECORD, Vol. 167 (2021):
            Mar. 16, considered and passed House.
            Mar. 25, considered and passed Senate.
DAILY COMPILATION OF PRESIDENTIAL DOCUMENTS (2021):
            Mar. 30, Presidential remarks.

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