Promoting Flexibility for Small Business Owners Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 12, 2020)
Promoting Flexibility for Small Business Owners Act
This bill extends certain deadlines related to loan forgiveness that are applicable to a loan recipient under the Paycheck Protection Program, which was established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the bill extends by at least one month the covered period during which a loan recipient must spend the loan to be eligible for loan forgiveness. The bill also extends by one month the deadline for a small business to rehire employees or eliminate salary or wage reductions to be eligible for loan forgiveness.
The bill authorizes the Small Business Administration, after considering specified criteria, to further extend the deadline for rehiring employees or eliminating salary or wage reductions for entities within certain industry categories.
What just happenedMay 12, 2020
Referred to the House Committee on Small Business.
Who’s behind it
- Introduced in HouseMay 12, 2020
- May 12, 2020IntroReferralH11100
Referred to the House Committee on Small Business.
Small Business Committee - May 12, 2020IntroReferralIntro-H
Introduced in House
- May 12, 2020IntroReferral1000
Introduced in House