Fair PPP Accounting Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Apr 19, 2021)
Fair PPP Accounting Act
This bill modifies eligibility for second draw loans under the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the bill provides for a period of 90 consecutive days to determine whether a borrower experienced a loss in revenue from 2019 to 2020 that qualifies them for a second draw loan. Currently, this qualification period must align with a corresponding calendar quarter from the previous year.
What just happenedApr 19, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Who’s behind it
- Introduced in SenateApr 19, 2021
- Apr 19, 2021IntroReferral
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Small Business and Entrepreneurship Committee - Apr 19, 2021IntroReferral10000
Introduced in Senate