H.R. 6816, Promoting Flexibility for Small Business Owners Act
Summary
H.R. 6816, the Promoting Flexibility for Small Business Owners Act, is a bill introduced in the House of Representatives on May 12, 2020 by Mr. Gonzalez of Ohio and referred to the Committee on Small Business. Its stated purpose is to amend the CARES Act to provide additional time for employers to maximize their loan forgiveness under the paycheck protection program, and for other purposes. Section 2 amends section 1106 of the CARES Act, in subsection (a)(3), by striking the 8-week period beginning on and inserting the 12-week period beginning on the earlier of the date selected by the borrower or a later date.
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“H.R. 6816, Promoting Flexibility for Small Business Owners Act.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-116hr6816ih-bills-116hr6816ih/
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I
116TH CONGRESS
2D SESSION
H. R. 6816
To amend the CARES Act to provide additional time for employers to maxi-
mize their loan forgiveness under the paycheck protection program, and
for other purposes.
IN THE HOUSE OF REPRESENTATIVES
MAY 12, 2020
Mr. GONZALEZ of Ohio (for himself, Mr. JOYCE of Ohio, Mr. LAHOOD, Mrs.
MURPHY of Florida, and Mr. WENSTRUP) introduced the following bill;
which was referred to the Committee on Small Business
A BILL
To amend the CARES Act to provide additional time for
employers to maximize their loan forgiveness under the
paycheck protection program, and for other purposes.
1 Be it enacted by the Senate and House of Representa-
2 tives of the United States of America in Congress assembled,
3 SECTION 1. SHORT TITLE.
4 This Act may be cited as the ‘‘Promoting Flexibility
5 for Small Business Owners Act’’.
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1 SEC. 2. ADDITIONAL TIME TO MAXIMIZE LOAN FORGIVE-
2 NESS UNDER THE PAYCHECK PROTECTION
3 PROGRAM.
4 Section 1106 of the CARES Act (Public Law 116–
5 136) is amended—
6 (1) in subsection (a)(3), by striking ‘‘the 8-week
7 period beginning on’’ and inserting the following:
8 ‘‘the 12-week period beginning on the date that is
9 the earlier of—
10 ‘‘(A) the date selected by the borrower; or
11 ‘‘(B) the date that is 30 days after’’; and
12 (2) in subsection (d)(5)—
13 (A) in subparagraph (B)—
14 (i) in clause (i)(II), by striking ‘‘June
15 30, 2020’’ and inserting ‘‘July 31, 2020’’;
16 and
17 (ii) in clause (ii)(II), by striking
18 ‘‘June 30, 2020’’ and inserting ‘‘July 31,
19 2020’’; and
20 (B) by adding at the end the following new
21 subparagraph:
22 ‘‘(C) EXTENSION.—
23 ‘‘(i) IN GENERAL.—The Adminis-
24 trator, in coordination with the Secretary
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25 of the Treasury, may extend the deadlines
26 described in clauses (i)(II) and (ii)(II) of
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1 subparagraph (B) for entities within cer-
2 tain industry categories, as determined by
3 the Administrator in accordance with the
4 North American Industry Classification
5 System codes.
6 ‘‘(ii) CRITERIA.—When making a de-
7 termination whether to extend a deadline
8 under clause (i), the Administrator shall
9 consider—
10 ‘‘(I) the restrictions on the oper-
11 ations of the industry category im-
12 posed by Federal, State, or local gov-
13 ernments based on COVID–19;
14 ‘‘(II) industry category revenue
15 as compared to industry category rev-
16 enue at the same time in prior years;
17 ‘‘(III) unemployment levels in the
18 industry category as compared to un-
19 employment levels in the industry cat-
20 egory in prior years; and
21 ‘‘(IV) such other criteria as de-
22 termined by the Administrator, in
23 consultation with the Secretary of the
24 Treasury, to be appropriate.’’.
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