HR 7894
Paycheck Protection Program Small Business Enhancement Act
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- Passed House
- Passed Senate
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Bill overview
The Paycheck Protection Program Small Business Enhancement Act extends the Paycheck Protection Program through December 31, 2020, and allows businesses that received an initial PPP loan to apply for a second loan with similar terms. It expands eligibility to include business leagues, chambers of commerce, and franchisors/franchisees with up to 500 employees per location. The bill prohibits using loan funds for lobbying and simplifies forgiveness for loans under $150,000, and clarifies allowable expenses for forgiveness purposes. It also makes eligible expenses tax deductible.
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Primary sponsor
Cosponsors
Dean Phillips
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