S. 4116 (Engrossed): To Extend the Authority for Commitments for the Paycheck Protection Program

Summary

This is the engrossed text of S. 4116 of the 116th Congress, an Act to extend the authority for commitments for the paycheck protection program and separate amounts authorized for other loans under section 7(a) of the Small Business Act. Section 1 amends section 1102(b) of the Coronavirus Aid, Relief, and Economic Security Act. It sets the amount authorized for PPP loan commitments under paragraph (36) of section 7(a) at $659,000,000,000 for the period beginning on February 15, 2020. It provides that the fiscal year 2020 commitment amount for section 7(a) business loans applies to commitments other than those under paragraph (36). The bill shows that it passed the Senate June 30, 2020.

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116TH CONGRESS 
2D SESSION 
S. 4116 
AN ACT 
To extend the authority for commitments for the paycheck 
protection program and separate amounts authorized for 
other loans under section 7(a) of the Small Business 
Act, and for other purposes. 
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled, 
2

2 
† S 4116 ES
SECTION 1. EXTENDING AUTHORITY FOR COMMITMENTS 
1
FOR THE PAYCHECK PROTECTION PROGRAM 
2
AND SEPARATING AMOUNTS AUTHORIZED 
3
FOR OTHER 7(A) LOANS. 
4
Section 1102(b) of title I of division A of the 
5
Coronavirus Aid, Relief, and Economic Security Act (Pub-
6
lic Law 116–136) is amended to read as follows: 
7
‘‘(b) COMMITMENTS
FOR PPP AND OTHER 7(A) 
8
LOANS.— 
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‘‘(1) PPP LOANS.—During the period begin-
10
ning on February 15, 2020 and ending on August 
11
8, 2020, the amount authorized for commitments 
12
under paragraph (36) of section 7(a) of the Small 
13
Business 
Act 
(15 
U.S.C. 
636(a)) 
shall 
be 
14
$659,000,000,000. 
15
‘‘(2) OTHER 7(A) LOANS.—During fiscal year 
16
2020, the amount authorized for commitments for 
17
section 7(a) of the Small Business Act (15 U.S.C. 
18
636(a)) under the heading ‘BUSINESS LOANS PRO-
19
GRAM ACCOUNT’ under the heading ‘SMALL BUSI-
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NESS ADMINISTRATION’ under title V of the Consoli-
21
dated Appropriations Act, 2020 (Public Law 116– 
22
93; 133 Stat. 2475) shall apply with respect to any 
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3 
† S 4116 ES
commitments under such section 7(a) other than 
1
under paragraph (36) of such section 7(a).’’. 
2
Passed the Senate June 30, 2020. 
Attest: 
Secretary. 

116TH CONGRESS 
2D SESSION 
S. 4116 
AN ACT 
To extend the authority for commitments for the 
paycheck 
protection 
program 
and 
separate 
amounts authorized for other loans under section 
7(a) of the Small Business Act, and for other 
purposes.

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