HR 6816
Promoting Flexibility for Small Business Owners Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Promoting Flexibility for Small Business Owners Act, amends the CARES Act to give small businesses more time to utilize funds from their Paycheck Protection Program (PPP) loans. Specifically, it extends the deadline for businesses to spend these funds by at least one month and provides additional flexibility for rehiring employees or reducing salaries. The Small Business Administration can further extend these deadlines for certain industries based on factors like government restrictions, revenue, and unemployment rates.
Sponsors
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Primary sponsor
Anthony Gonzalez
Cosponsors
Brad R. Wenstrup
Stephanie N. Murphy
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