S 3805
Paycheck Protection Program Flexibility Act of 2020
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Paycheck Protection Program Flexibility Act of 2020 modifies existing rules for loans issued through the Paycheck Protection Program. It extends the timeframe businesses have to use forgiven loan funds, allows for a longer loan maturity period if a balance remains after forgiveness, and permits businesses to rehire employees or adjust payroll without reducing loan forgiveness. Importantly, the bill also removes a restriction that prevented forgiven borrowers from deferring payroll tax payments.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Angus S., Jr. King
Cosponsors
Cory Gardner
Debbie Stabenow
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.