Introduced (House) — PPP Extension Act of 2021

Record facts

Summary

H.R. 1799, the PPP Extension Act of 2021, as introduced in the House of Representatives of the 117th Congress on March 11, 2021 by Ms. Bourdeaux with Mrs. Kim of California, Ms. Velázquez and Mr. Luetkemeyer, and referred to the Committee on Small Business. The bill would amend the Small Business Act and the CARES Act to extend the covered period for the paycheck protection program. Section 2 amends Section 7(a)(36)(A)(iii) of the Small Business Act (15 U.S.C. 636(a)(36)(A)(iii)) and Section 1102(b)(1) of the CARES Act by striking "March 31, 2021" and inserting "June 30, 2021". It also provides that from June 1, 2021, through June 30, 2021, the Administrator shall not accept new lender applications and shall process only those submitted before June 1, 2021. The bill text is two pages.

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Full text

I 
117TH CONGRESS 
1ST SESSION H. R. 1799 
To amend the Small Business Act and the CARES Act to extend the covered 
period for the paycheck protection program, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 11, 2021 
Ms. BOURDEAUX (for herself, Mrs. KIM of California, Ms. VELA´ZQUEZ, and 
Mr. LUETKEMEYER) introduced the following bill; which was referred to 
the Committee on Small Business 
A BILL 
To amend the Small Business Act and the CARES Act 
to extend the covered period for the paycheck protection 
program, and for other purposes. 
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
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This Act may be cited as the ‘‘PPP Extension Act 
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of 2021’’. 
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SEC. 2. EXTENSION OF COVERED PERIOD FOR PAYCHECK 
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PROTECTION PROGRAM. 
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(a) IN GENERAL.—Section 7(a)(36)(A)(iii) of the 
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Small Business Act (15 U.S.C. 636(a)(36)(A)(iii)) is 
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•HR 1799 IH
amended by striking ‘‘March 31, 2021’’ and inserting 
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‘‘June 30, 2021’’. 
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(b) FUNDING.—Section 1102(b)(1) of the CARES 
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Act (Public Law 116–136), as amended by section 323 
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of the Economic Aid to Hard-Hit Small Businesses, Non-
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profits, and Venues Act (Public Law 116–260), is amend-
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ed by striking ‘‘March 31, 2021’’ and inserting ‘‘June 30, 
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2021’’. 
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(c) RESTRICTION.—From June 1, 2021, through 
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June 30, 2021, the Administrator of the Small Business 
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Administration shall not accept new lender applications 
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for loans under paragraph (36) or (37) of section 7(a) 
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of the Small Business Act (15 U.S.C. 636(a)) and shall 
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only process such lender applications that have been sub-
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mitted to the Administrator before June 1, 2021. 
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Æ 
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