S 3918
Paycheck Protection for Producers Act
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Paycheck Protection for Producers Act, aims to modify the Paycheck Protection Program to better support farmers and ranchers. It allows eligible farmers to calculate their maximum loan amount using their 2019 gross income instead of their net income, as was previously required. The bill also provides a mechanism for lenders to recalculate existing loans for eligible farmers, potentially increasing the loan amount they can receive. This change is intended to provide more financial assistance to agricultural businesses.
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