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135 Stat. 250 (Pub. L. 117-6, PPP Extension Act of 2021)

Summary

The text of Public Law 117-6, the PPP Extension Act of 2021, at 135 Stat. 250, approved March 30, 2021 (H.R. 1799). Section 2 amends Section 7(a)(36)(A)(iii) of the Small Business Act to replace the covered-period end date of March 31, 2021 with June 30, 2021, and makes the same change to funding under Section 1102(b)(1) of the CARES Act. It provides that from June 1, 2021 through June 30, 2021 the SBA Administrator shall not accept new lender applications for loans under paragraph (36) or (37) of section 7(a) and shall only process applications submitted before June 1, 2021. Section 3 keeps the budgetary effects off the PAYGO scorecards.

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“135 Stat. 250 (Pub. L. 117-6, PPP Extension Act of 2021).” Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/135-stat-250-pub-l-117-6-ppp-extension-act-of-2021-e117bebfe3/, SHA-256 3f9028f80ee4e2395a23508cf309061192bc48b72de5212157aed86cde0b114e.

Full text

                                                                      135 STAT. 250                              PUBLIC LAW 117–6—MAR. 30, 2021




                                                                                              Public Law 117–6
                                                                                              117th Congress
                                                                                                                                          An Act
                                                                        Mar. 30, 2021                To amend the Small Business Act and the CARES Act to extend the covered
                                                                          [H.R. 1799]                    period for the paycheck protection program, and for other purposes.

                                                                                                  Be it enacted by the Senate and House of Representatives of
                                                                      PPP Extension           the United States of America in Congress assembled,
                                                                      Act of 2021.
                                                                      15 USC 631 note.        SECTION 1. SHORT TITLE.
                                                                                                     This Act may be cited as the ‘‘PPP Extension Act of 2021’’.
                                                                                              SEC. 2. EXTENSION OF COVERED PERIOD FOR PAYCHECK PROTECTION
                                                                                                        PROGRAM.
                                                                                                   (a) IN GENERAL.—Section 7(a)(36)(A)(iii) of the Small Business
                                                                                              Act (15 U.S.C. 636(a)(36)(A)(iii)) is amended by striking ‘‘March
                                                                                              31, 2021’’ and inserting ‘‘June 30, 2021’’.
                                                                                                   (b) FUNDING.—Section 1102(b)(1) of the CARES Act (Public
                                                                                              Law 116–136), as amended by section 323 of the Economic Aid
                                                                                              to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Public
                                                                      134 Stat. 2018.         Law 116–260), is amended by striking ‘‘March 31, 2021’’ and
                                                                                              inserting ‘‘June 30, 2021’’.
                                                                      15 USC 636 note.             (c) RESTRICTION.—From June 1, 2021, through June 30, 2021,
                                                                                              the Administrator of the Small Business Administration shall not
                                                                                              accept new lender applications for loans under paragraph (36) or
                                                                                              (37) of section 7(a) of the Small Business Act (15 U.S.C. 636(a))
                                                                                              and shall only process such lender applications that have been
                                                                                              submitted to the Administrator before June 1, 2021.
                                                                                              SEC. 3. DETERMINATION OF BUDGETARY EFFECTS.
                                                                                                   (a) IN GENERAL.—The budgetary effects of this Act shall not
                                                                                              be entered on either PAYGO scorecard maintained pursuant to
                                                                                              section 4(d) of the Statutory Pay-As-You-Go Act of 2010 (2 U.S.C.
                                                                                              933(d)).
                                                                                                   (b) SENATE PAYGO SCORECARDS.—The budgetary effects of this
                                                                                              Act shall not be entered on any PAYGO scorecard maintained
                                                                                              for purposes of section 4106 of H. Con. Res. 71 (115th Congress).

                                                                                                    Approved March 30, 2021.



                                                                                              LEGISLATIVE HISTORY—H.R. 1799:
                                                                                              CONGRESSIONAL RECORD, Vol. 167 (2021):




whamilton on LAP1Z6H6L3PROD with STATUTES
                                                                                                   Mar. 16, considered and passed House.
                                                                                                   Mar. 25, considered and passed Senate.
                                                                                              DAILY COMPILATION OF PRESIDENTIAL DOCUMENTS (2021):
                                                                                                   Mar. 30, Presidential remarks.




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