PPP Extension Act of 2021
- Last Action
- 3/17/2021
Actions
- 2021-03-17Read twice and referred to the Committee on Small Business and Entrepreneurship.
- 2021-03-17Introduced in Senate
CRS Summary
As of 2021-03-17 (00)
PPP Extension Act of 2021
This bill extends the Paycheck Protection Program, established to support small businesses in response to COVID-19, through June 30, 2021. Currently, the program is set to expire on March 31, 2021.
For the final 30 days of the program (i.e., from June 1 until June 30), the Small Business Administration (SBA) may only process applications submitted prior to June 1, and it may not accept any new loan applications. The bill also prohibits the SBA from prioritizing certain applications over others.
Cosponsors (15)
- Susan Collins (R-ME)
- Kevin Cramer (R-ND)
- James Risch (R-ID)
- Mike Braun (R-IN)
- Mike Crapo (R-ID)
- John Barrasso (R-WY)
- James Lankford (R-OK)
- Shelley Capito (R-WV)
- Cindy Hyde-Smith (R-MS)
- Tim Scott (R-SC)
- Mike Rounds (R-SD)
- Josh Hawley (R-MO)
- Deb Fischer (R-NE)
- Roger Marshall (R-KS)
- John Kennedy (R-LA)
Subjects
- Business expenses
- Cardiovascular and respiratory health
- Emergency medical services and trauma care
- 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.