PPP Second Draw Fairness Act of 2021

Bill: 117-hr-2615
Sponsor: full_name: Rep. Balderson, Troy [R-OH-12]
Introduced: 2021-04-16
Policy area: Commerce
Subjects: Cardiovascular and respiratory health

Economic performance and conditions

Government lending and loan guarantees

Infectious and parasitic diseases
Latest action: action_date: 2021-04-16
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2021-04-16
action_desc: Introduced in House
text: <p><b>PPP Second Draw Fairness Act of 2021</b></p> <p>This bill allows applicants for second draw loans under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), to select any consecutive 90-day period in 2020 from which to demonstrate a qualifying loss in revenue that makes them eligible for such loans. Currently, this qualification period must align with a corresponding calendar quarter from the previous year.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 2615 IN THE HOUSE OF REPRESENTATIVES April 16, 2021 Mr. Balderson (for himself and Ms. Craig ) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to allow certain applicants for paycheck protection program second draw loans to select a 90-day period to demonstrate eligibility, and for other purposes.

1. Short title This Act may be cited as the PPP Second Draw Fairness Act of 2021 . 2. Eligibility for paycheck protection program second draw loans Section 7(a)(37)(A)(iv)(I)(bb)(AA) of the Small Business Act (15 U.S.C. 636(a)(37)(A)(iv)(I)(bb)(AA)) is amended by inserting either during any contiguous 90-day period in 2020, or before during the first .