S 1249
PPP Flexibility for Farmers, Ranchers, and the Self-Employed Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the PPP Flexibility for Farmers, Ranchers, and the Self-Employed Act, makes several changes to the Paycheck Protection Program (PPP) to provide more flexibility for farmers, ranchers, self-employed individuals, and small businesses. It allows farming partnerships to recalculate their PPP loan amounts based on their share of income, expands eligibility for PPP loans by using IRS Form 1040, Schedule C for loan calculations, and increases the maximum amount for a second draw PPP loan. The bill also adjusts the calculation period for second draw loan eligibility and extends certain administrative deadlines.
Sponsors
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Primary sponsor
Benjamin L. Cardin
Cosponsors
Angus S., Jr. King
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