PPP Flexibility for Farmers and Ranchers Act

Bill: 117-hr-1411
Sponsor: full_name: Rep. Hagedorn, Jim [R-MN-1]
Introduced: 2021-02-26
Policy area: Commerce
Subjects: Agricultural prices, subsidies, credit

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: 2021-02-26
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2021-02-26
action_desc: Introduced in House
text: <p><b>PPP Flexibility for Farmers and Ranchers Act</b></p> <p> This bill expands eligibility for agricultural producers under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to include certain agricultural producers organized as partnerships. Currently, only certain agricultural producers that are sole proprietorships, independent contractors, or self-employed individuals may receive support under the program.</p> <p><br> </p>

tv_txt: I 117th CONGRESS 1st Session H. R. 1411 IN THE HOUSE OF REPRESENTATIVES February 26, 2021 Mr. Hagedorn (for himself, Mr. Luetkemeyer , Mr. Thompson of Pennsylvania , Mr. Cuellar , Mr. Newhouse , Mr. Austin Scott of Georgia , Mr. Crawford , Mr. LaMalfa , Mr. Stauber , Mr. Arrington , Mr. Meuser , Mr. Bacon , Ms. Stefanik , Mr. Higgins of Louisiana , Mr. Baird , Mr. Moolenaar , Mr. Fitzpatrick , Mr. Rogers of Alabama , Mr. Kelly of Mississippi , Mr. Kustoff , Mr. Upton , Mr. Turner , Ms. Tenney , Mr. Mann , Mr. Issa , Mr. Smith of Missouri , Mr. Balderson , Mr. Allen , Mrs. Fischbach , Mr. Sessions , Mr. Carter of Texas , Mr. Pfluger , Mr. Timmons , Mrs. Kim of California , Mr. Cline , Mrs. McClain , Mr. Murphy of North Carolina , Mr. Rouzer , Mr. Valadao , Mr. Rose , Mr. Jackson , Mr. Kelly of Pennsylvania , Mr. Feenstra , Mr. Emmer , Mr. Rosendale , Mr. Hern , Mr. Babin , Mr. Gibbs , Ms. Van Duyne , Mr. Stewart , Mr. Joyce of Pennsylvania , Mr. Keller , Mr. Donalds , Mr. Williams of Texas , and Mr. Bentz ) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to allow certain ranchers and farmers categorized as partnerships to use an alternative calculation for a maximum loan amount under the paycheck protection program, and for other purposes.

1. Short title This Act may be cited as the PPP Flexibility for Farmers and Ranchers Act . 2. Partnership paycheck protection program loan calculation as farmer or rancher (a) In general Section 7(a)(36)(V)(i)(I) of the Small Business Act (as amended by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act ( Public Law 116–260 )) is amended by inserting is a partnership, after independent contractor, . (b) Effective date; Applicability (1) In general Except as provided in paragraph (2), the amendments made by subsection (a) shall be effective as if included in the CARES Act ( Public Law 116–136 ; 134 Stat. 281) and shall apply to any loan made pursuant to section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ) before, on, or after the date of enactment of this Act, including forgiveness of such a loan. (2) Exclusion of loans already forgiven The amendments made by subsection (a) shall not apply to a loan made pursuant to section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ) for which the borrower received forgiveness before the date of enactment of this Act under section 1106 of the CARES.