A bill to ensure that no cost reduction or cash refund is due under certain transportation cost-reimbursement contracts on the basis of the forgiveness of certain covered loans, and for other purposes.

12/29/2022, 9:33 PM

Congressional Summary of S 3711

This bill exempts until June 30, 2025, certain contractors that receive federal highway or public transportation funding from having to adjust costs associated with their contracts to account for loan forgiveness through the Paycheck Protection Program (PPP). (The PPP provided small businesses with loans for payroll and other costs to respond to the COVID-19 emergency with loan forgiveness under certain conditions.)

Under current law, a contractor with a cost-reimbursable contract must reduce costs or provide cash refunds to the Department of Transportation (or a state department of transportation) if the contractor receives or accrues any income, rebate, allowance, or other credit relating to an allowable contract cost, which includes PPP loan forgiveness.

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Current Status of Bill S 3711

Bill S 3711 is currently in the status of Bill Introduced since February 28, 2022. Bill S 3711 was introduced during Congress 117 and was introduced to the Senate on February 28, 2022. Bill S 3711's most recent activity was Read twice and referred to the Committee on Environment and Public Works. as of February 28, 2022

Bipartisan Support of Bill S 3711

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3711

Primary Policy Focus

Transportation and Public Works

Alternate Title(s) of Bill S 3711

A bill to ensure that no cost reduction or cash refund is due under certain transportation cost-reimbursement contracts on the basis of the forgiveness of certain covered loans, and for other purposes.A bill to ensure that no cost reduction or cash refund is due under certain transportation cost-reimbursement contracts on the basis of the forgiveness of certain covered loans, and for other purposes.

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