S 4607
Disaster Relief for Southeastern Small Businesses Act of 2020
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Bill overview
This bill, the Disaster Relief for Southeastern Small Businesses Act of 2020, provides loan forgiveness for small businesses in areas affected by Hurricanes Laura and Sally. It allows eligible businesses that received Paycheck Protection Program (PPP) or Economic Injury Disaster Loans (EIDL) to receive full forgiveness of their loans by submitting a simple form confirming they used the funds for eligible activities. The bill also addresses tax implications and ensures that advance grants received under the CARES Act do not reduce the amount of loan forgiveness received.
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Primary sponsor
Cosponsor
Doug Jones
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