Paycheck Protection Program Loan Forgiveness Flexibility Act of 2021
- Last Action
- 3/3/2021
Actions
- 2021-03-03Referred to the House Committee on Small Business.
- 2021-03-03Introduced in House
- 2021-03-03Introduced in House
CRS Summary
As of 2021-03-03 (00)
Paycheck Protection Program Loan Forgiveness Flexibility Act of 2021
This bill modifies the rehiring deadline by which a participant in the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), must return to pre-pandemic levels of employment in order to be eligible for loan forgiveness.
Specifically, the bill sets this rehiring deadline to 90 days after the termination of all state and local COVID-19 emergency declarations that apply to the location of the recipient.
Cosponsors (2)
- Byron Donalds (R-FL)
- James Baird (R-IN)
Subjects
- Business expenses
- Cardiovascular and respiratory health
- Emergency medical services and trauma care
- Employee hiring
- Government lending and loan guarantees
- Infectious and parasitic diseases
- Small business
- Wages and earnings
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.