H.R. 6981, PPP Deadline Extension Adjustment for Loans Act
Summary
H. R. 6981 was introduced in the House of Representatives on May 22, 2020 by Mr. Lamb and other members and referred to the Committee on Small Business. The bill may be cited as the PPP Deadline Extension Adjustment for Loans Act or the PPP DEAL Act. Section 2 amends section 1106 of the CARES Act, in subsection (a)(3), by striking 8-week and inserting 16-week. In subsection (d)(5)(B), it replaces June 30 with the date that is a stated number of weeks after the date of the origination of the covered loan.
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Cite this document
“H.R. 6981, PPP Deadline Extension Adjustment for Loans Act.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-116hr6981ih-bills-116hr6981ih/
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I
116TH CONGRESS
2D SESSION
H. R. 6981
To extend the covered period for loan forgiveness and the rehiring period
under the CARES Act, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
MAY 22, 2020
Mr. LAMB (for himself, Mrs. FLETCHER, and Mr. FITZPATRICK) introduced
the following bill; which was referred to the Committee on Small Business
A BILL
To extend the covered period for loan forgiveness and the
rehiring period under the CARES Act, 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 ‘‘PPP Deadline Exten-
5 sion Adjustment for Loans Act’’ or the ‘‘PPP DEAL
6 Act’’.
7 SEC. 2. EXTENSION OF LOAN FORGIVENESS PERIOD AND
8 REHIRING PERIOD UNDER CARES ACT.
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9 Section 1106 of the CARES Act (Public Law 116–
10 136) is amended—
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2
1 (1) in subsection (a)(3), by striking ‘‘8-week’’
2 and inserting ‘‘16-week’’; and
3 (2) in subsection (d)(5)(B), by striking ‘‘June
4 30, 2020’’ each place that term appears and insert-
5 ing ‘‘the date that is 16 weeks after the date of the
6 origination of the covered loan’’.
Æ
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