To amend the CARES Act to increase the authority for commitments and appropriations for paycheck protection program, and for other purposes.

Bill: 116-hr-6672
Sponsor: full_name: Rep. Green, Al [D-TX-9]
Introduced: 2020-05-01
Policy area: Commerce
Subjects: Business expenses

Cardiovascular and respiratory health

Emergency medical services and trauma care

Government lending and loan guarantees

Infectious and parasitic diseases

Small business

Wages and earnings
Latest action: action_date: 2020-05-01
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2020-05-01
action_desc: Introduced in House
text: <p>This bill temporarily provides increased authority for appropriations to fund certain Small Business Administration commitments for loans, including loans made under the Paycheck Protection Program implemented in response to COVID-19 (i.e., coronavirus disease 2019). The authority provided by this bill ends 90 days after the date on which the COVID-19 emergency is no longer in effect. </p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6672 IN THE HOUSE OF REPRESENTATIVES May 1, 2020 Mr. Green of Texas introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the CARES Act to increase the authority for commitments and appropriations for paycheck protection program, and for other purposes.

1. Increased authority for commitments and appropriations for paycheck protection program Title I of division A of the Coronavirus Aid, Relief, and Economic Security Act ( Public Law 116–136 ) is amended— (1) in section 1102— (A) in subsection (b), by striking June 30, 2020 and all that follows through for such loans and inserting June 30, 2020, the amount authorized for commitments for such loans ; and (B) by adding at the end the following new subsection: (f) Authorization of appropriations for the paycheck protection program During the period beginning on the date of the enactment of this subsection and ending on the date that is 90 days after the date on which the Proclamation on Declaring a National Emergency Concerning the Novel Coronavirus Disease (COVID–19) Outbreak (issued March 13, 2020) no longer has force or effect, there is authorized to be appropriated such sums as may be necessary for commitments for loans authorized under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ), including loans made under paragraph (36) of such section. ; and (2) in section 1107— (A) in subsection (a), by striking paragraph (1) and redesignating subsequent paragraphs accordingly; and (B) by adding at the end the following new subsection: (d) Direct appropriation During the period beginning on the date of the enactment of this subsection and ending on the date that is 90 days after the date on which the Proclamation on Declaring a National Emergency Concerning the Novel Coronavirus Disease (COVID–19) Outbreak (issued March 13, 2020) no longer has force or effect, there is authorized to be appropriated such sums as may be necessary 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) ). .