Legis Daily

A bill to modify the maximum paycheck protection program loan amount for farmers and ranchers, sole proprietors, independent contractors, and self-employed individuals.

USA117th CongressS-1232| Senate 
| Updated: 4/20/2021
Tammy Baldwin

Tammy Baldwin

Democratic Senator

Wisconsin

Small Business and Entrepreneurship Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill modifies the calculation of loan amounts for partnerships with no employees (e.g., self-employed farmers) under the Paycheck Protection Program, which was established to support small businesses in response to COVID-19. Specifically, the bill allows such individuals to apply for a loan in the amount of the difference between their gross and net income loan amounts, even if they have already received a loan based on their net income and received forgiveness for that loan.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Apr 20, 2021
Introduced in Senate
Apr 20, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
  • April 20, 2021
    Introduced in Senate


  • April 20, 2021
    Read twice and referred to the Committee on Small Business and Entrepreneurship.

Commerce

Related Bills

  • S 117-1249: PPP Flexibility for Farmers, Ranchers, and the Self-Employed Act
Agricultural prices, subsidies, creditBusiness expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSelf-employedSmall businessWages and earnings

A bill to modify the maximum paycheck protection program loan amount for farmers and ranchers, sole proprietors, independent contractors, and self-employed individuals.

USA117th CongressS-1232| Senate 
| Updated: 4/20/2021
This bill modifies the calculation of loan amounts for partnerships with no employees (e.g., self-employed farmers) under the Paycheck Protection Program, which was established to support small businesses in response to COVID-19. Specifically, the bill allows such individuals to apply for a loan in the amount of the difference between their gross and net income loan amounts, even if they have already received a loan based on their net income and received forgiveness for that loan.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Apr 20, 2021
Introduced in Senate
Apr 20, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
  • April 20, 2021
    Introduced in Senate


  • April 20, 2021
    Read twice and referred to the Committee on Small Business and Entrepreneurship.
Tammy Baldwin

Tammy Baldwin

Democratic Senator

Wisconsin

Small Business and Entrepreneurship Committee

Commerce

Related Bills

  • S 117-1249: PPP Flexibility for Farmers, Ranchers, and the Self-Employed Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Agricultural prices, subsidies, creditBusiness expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSelf-employedSmall businessWages and earnings