HR 1589
Paycheck Protection Program Loan Forgiveness Flexibility Act of 2021
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- Passed House
- Passed Senate
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- Became Law
Bill overview
This bill changes the rules for small businesses receiving Paycheck Protection Program (PPP) loans to allow for more flexibility in meeting rehiring deadlines for loan forgiveness. It extends the deadline to 90 days after a state or local government ends its COVID-19 emergency declaration where the business operates. This change aims to provide businesses more time to recover and return to pre-pandemic employment levels after the pandemic-related emergencies have subsided. The bill does not affect loans that have already been forgiven.
Sponsors
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Primary sponsor
Matthew M. [R-MT-At Large] Rosendale Sr.
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