PPP DEAL Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (May 13, 2020)
PPP Deadline Extension Adjustment for Loans Act or the PPP DEAL Act
This bill modifies the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) by (1) extending from 8 weeks to 16 weeks the period during which a loan recipient must use their paycheck protection loan to be eligible for forgiveness; and (2) allowing a recipient 16 weeks from the date of the loan to eliminate a reduction in workforce, salary, or wages that would otherwise reduce their forgivable amount.
What just happenedMay 13, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Who’s behind it
- Introduced in SenateMay 13, 2020
- May 13, 2020IntroReferral
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Small Business and Entrepreneurship Committee - May 13, 2020IntroReferral10000
Introduced in Senate