To require the Administrator of the Small Business Administration to report on covered loans made under the paycheck protection program, and for other purposes.
PPP Accountability Act
This bill requires the Small Business Administration (SBA) to publish on its website certain information regarding any loan of $1 million or greater made under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Such information shall include the identity of a paycheck protection loan recipient, the identity of the lender, and the amount of the paycheck protection loan. With respect to each application for loan forgiveness under the program, the SBA must publish (1) the amount of such forgiveness and the date of approval, and (2) the number of employees who received a paycheck and the duration of such receipt.
The SBA must also report to Congress an overview of actions taken to carry out the program and a detailed financial statement including the number, amount, balances, and forgiveness status of each paycheck protection loan.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
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