Title: More PPP Act
Policy area: Commerce

Summary:
Making Opportunities a Reality for Entrepreneurs Paycheck Protection Program or the More PPP Act
This bill provides additional funding for and modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the bill increases funding for paycheck protection loans by $560 billion, and it provides additional funding of $571 billion for paycheck protection loans through FY2021. Further, the bill sets aside $200 billion for paycheck protection loans to businesses and nonprofit organizations with 25 or fewer employees, sole proprietors, independent contractors, and self-employed individuals.
The bill also modifies eligibility for the program by (1) making publicly traded companies ineligible to participate, and (2) requiring borrowers to certify a decline in revenue of 20% or more. Further, the bill makes it unlawful for a lender to discriminate against or give preferential treatment to any eligible recipient.
The Small Business Administration must report on the demographic data, including race, gender, and ethnicity, of paycheck protection loan recipients.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6893 Introduced in House (IH)]

<DOC>






116th CONGRESS
  2d Session
                                H. R. 6893

   To amend the CARES Act and the Small Business Act to make certain 
adjustments to the paycheck protection program, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 15, 2020

    Mrs. Beatty (for herself and Mr. Green of Texas) introduced the 
 following bill; which was referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
   To amend the CARES Act and the Small Business Act to make certain 
adjustments to the paycheck protection program, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Making Opportunities a Reality for 
Entrepreneurs Paycheck Protection Program'' or the ``More PPP Act''.

SEC. 2. AMENDMENTS TO PAYCHECK PROTECTION PROGRAM.

    (a) Increased Authority for Commitments and Appropriations for 
Paycheck Protection Program.--
            (1) The CARES Act (Public Law 116-136) is amended in 
        section 1102(b)(1) by striking ``$349,000,000,000'' and 
        inserting ``909,000,000,000''.
            (2) In addition to amounts otherwise made available by any 
        other Act (including section 1107(a)(1) of the CARES Act 
        (Public Law 116-136)) for such purpose, there is appropriated 
        for an additional amount under the heading ``Small Business 
        Administration--Business Loans Program Account, CARES Act'' for 
        the cost of guaranteed loans as authorized under paragraph (36) 
        of section 7(a) of the Small Business Act (15 U.S.C. 636(a)), 
        $571,335,000,000, to remain available until September 30, 2021.
    (b) Set Aside for Smallest Businesses.--Section 7(a)(36) of the 
Small Business Act (15 U.S.C. 636(a)(36)) is amended by adding at the 
end the following:
                    ``(T) Set-aside for smallest businesses, nonprofit 
                organizations, sole proprietors, independent 
                contractors, and self-employed individuals.--
                            ``(i) In general.--In making loan 
                        guarantees under this paragraph after the date 
                        of enactment of this clause, the Administrator 
                        shall guarantee not less than $200,000,000,000 
                        in loans made to--
                                    ``(I) business concerns with 25 or 
                                fewer employees;
                                    ``(II) nonprofit organizations with 
                                25 or fewer employees;
                                    ``(III) sole proprietors;
                                    ``(IV) independent contractors; and
                                    ``(V) self-employed individuals.
                            ``(ii) Employee.--For the purposes of 
                        clause (i), the term employee includes 
                        individuals employed on a full-time, part-time, 
                        or other basis.''.
    (c) Clarify Eligible Companies.--Section 7(a)(36)(D) of the Small 
Business Act (16 U.S.C. 636(a)(36)) is amended by adding at the end the 
following:
                            ``(vii) Ineligible business.--Any business 
                        that is an `issuer' as such term is defined in 
                        section 2 of the Securities Act of 1933 (15 
                        U.S.C. 77b) shall not be considered an eligible 
                        recipient under this program.''.
    (d) Additional Borrower Certification.--Section 7(a)(36)(G)(i) of 
the Small Business Act (15 U.S.C. 636(a)(36)(G)(i)) is amended--
            (1) in subclause (III), by striking ``and'' at the end;
            (2) in subclause (IV), by striking the period at the end 
        and inserting ``; and''; and
            (3) by adding at the end the following:
                                    ``(V) that the eligible recipient 
                                experienced 20 percent or more in 
                                reduced revenue, as determined by the 
                                Administrator.''.
    (e) Lender Prohibition.--Section 7(a)(36)(F)(ii) of the Small 
Business Act (15 U.S.C. 636(a)(36)(F)(ii)) is amended by adding at the 
end the following:
                                    ``(III) Prohibitions.--It shall be 
                                unlawful for any lender to--
                                            ``(aa) discriminate against 
                                        any eligible recipient, with 
                                        respect to any aspect of a 
                                        credit transaction on the basis 
                                        of race, color, religion, 
                                        national origin, sex, marital 
                                        status, or age (provided the 
                                        applicant has the capacity to 
                                        contract); or
                                            ``(bb) give preferential 
                                        treatment to any eligible 
                                        recipient as defined by the 
                                        Administrator.''.
    (f) Data Collection.--Section 7(a)(36) of the Small Business Act 
(15 U.S.C. 636(a)(36)) is amended by adding at the end the following:
                    ``(U) Not later than 1 month after the date of 
                enactment of this subparagraph, the Administrator shall 
                submit to the appropriate Committees of Congress a 
                report concerning the demographic data of loan 
                recipients under this section, including--
                            ``(i) race;
                            ``(ii) gender; and
                            ``(iii) ethnicity.''.
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