A bill to modify the calculation of the maximum loan amount for certain farmers and ranchers under the paycheck protection program of the Small Business Administration, and for other purposes.
Paycheck Protection for Producers Act
This bill modifies the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), by allowing certain farmers to calculate (or recalculate) their paycheck protection loan amount based on 2019 gross income.
Under current law, such farmers must calculate their paycheck protection loan amount based on net income.
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Referred to the Committee on Small Business, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 564.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 562.
Referred to the House Committee on Small Business.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S2809)
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