Calculate PPP Forgiveness Act of 2020

2/8/2022, 11:16 PM

Calculate PPP Forgiveness Act of 2020

This bill requires the Small Business Administration to establish or certify an online calculator that allows recipients of assistance under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) to (1) estimate the amount of loan forgiveness for which they are eligible, and (2) assist with their applications to request loan forgiveness.

Congress
116

Number
HR - 7413

Introduced on
2020-06-29

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

6/29/2020

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Calculate PPP Forgiveness Act of 2020

This bill requires the Small Business Administration to establish or certify an online calculator that allows recipients of assistance under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) to (1) estimate the amount of loan forgiveness for which they are eligible, and (2) assist with their applications to request loan forgiveness.

Alternative Names
Official Title as IntroducedTo direct the Administrator of the Small Business Administration to establish or certify a calculator that assists lenders and recipients with paycheck protection program loan forgiveness, and for other purposes.

Policy Areas
Commerce

Potential Impact
Business expenses
Cardiovascular and respiratory health
Emergency medical services and trauma care
Government information and archives
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
Wages and earnings

Comments

Recent Activity

Latest Summary12/22/2020

Calculate PPP Forgiveness Act of 2020

This bill requires the Small Business Administration to establish or certify an online calculator that allows recipients of assistance under the Paycheck Protection Program established to suppor...


Latest Action6/29/2020
Referred to the House Committee on Small Business.