S 5026
Low-Revenue Recipient Paycheck Protection Program Relief Act of 2022
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Low-Revenue Recipient Paycheck Protection Program Relief Act of 2022, aims to provide additional assistance to small businesses that received Paycheck Protection Program (PPP) loans, specifically those with low revenues. It allows eligible low-revenue recipients to choose an alternative covered period for loan forgiveness and offers additional loan forgiveness based on a comparison to what they would have received had they not already received forgiveness. The bill also addresses potential excess payments to lenders, ensuring refunds to the borrowers.
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