PRACTICAL Act of 2021
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Apr 15, 2021)
PPP Revenue Adjustment Calculation To Increase Capital Accessibility Long-term Act of 2021 or the PRACTICAL Act of 2021
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 15, 2021
Referred to the House Committee on Small Business.
Who’s behind it
- Introduced in HouseApr 15, 2021
- Apr 15, 2021IntroReferralH11100
Referred to the House Committee on Small Business.
Small Business Committee - Apr 15, 2021IntroReferralIntro-H
Introduced in House
- Apr 15, 2021IntroReferral1000
Introduced in House