Congressional Record, Senate (Aug. 6, 2020): SA 2606, Mrs. Loeffler's amendment to SA 2499 to S. 178

Summary

Senate amendment SA 2606, submitted by Mrs. Loeffler and printed in the Congressional Record, Volume 166, Number 140, for Thursday, August 6, 2020, at Page S5303. The amendment was intended to be proposed to amendment SA 2499, offered by Mr. McConnell to S. 178, a bill condemning human rights violations against ethnic Turkic Muslims in Xinjiang, and was ordered to lie on the table. Under the heading Additional Eligible Expenses, it would amend Section 7(a)(36)(F)(i) of the Small Business Act, 15 U.S.C. 636(a)(36)(F)(i), to add covered operations expenditures as an allowable use of a PPP loan, and would amend section 1106 of the CARES Act, 15 U.S.C. 9005, to define the term, redesignate the existing definitions and make payments on covered operations expenditures eligible for loan forgiveness alongside rent and lease obligations.

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Full text

[Congressional Record Volume 166, Number 140 (Thursday, August 6, 2020)]
[Senate]
[Page S5303]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2606. Mrs. LOEFFLER submitted an amendment intended to be proposed
to amendment SA 2499 proposed by Mr. McConnell to the bill S. 178, to
condemn gross human rights violations of ethnic Turkic Muslims in
Xinjiang, and calling for an end to arbitrary detention, torture, and
harassment of these communities inside and outside China; which was
ordered to lie on the table; as follows:

        At the appropriate place, insert the following:

     SEC. ___. ADDITIONAL ELIGIBLE EXPENSES.

       (a) Allowable Use of PPP Loan.--Section 7(a)(36)(F)(i) of
     the Small Business Act (15 U.S.C. 636(a)(36)(F)(i)) is
     amended--
       (1) in subclause (VI), by striking ``and'' at the end;
       (2) in subclause (VII), by striking the period at the end
     and inserting ``; and''; and
       (3) by adding at the end the following:

       ``(VIII) covered operations expenditures, as defined in
     section 1106(a) of the CARES Act (15 U.S.C. 9005(a)).''.

       (b) Loan Forgiveness.--Section 1106 of the CARES Act (15
     U.S.C. 9005) is amended--
       (1) in subsection (a)--
       (A) by redesignating paragraphs (3) through (8) as
     paragraphs (4) through (9), respectively;
       (B) by inserting after paragraph (2) the following:
       ``(3) the term `covered operations expenditure' means a
     payment for any business software or cloud computing service
     that facilitates business operations, product or service
     delivery, the processing, payment, or tracking of payroll
     expenses, human resources, sales and billing functions, or
     accounting or tracking of supplies, inventory, records and
     expenses;''; and
       (C) in paragraph (8), as so redesignated--
       (i) in subparagraph (C), by striking ``and'' at the end;
     and
       (ii) by adding at the end the following:
       ``(E) covered operations expenditures; and'';
       (2) in subsection (b), by adding at the end the following:
       ``(5) Any covered operations expenditure.'';
       (3) in subsection (d)(8), by inserting ``any payment on any
     covered operations expenditure,'' after ``rent obligation,'';
     and
       (4) in subsection (e)--
       (A) in paragraph (2), by inserting ``payments on covered
     operations expenditures,'' after ``lease obligations,''; and
       (B) in paragraph (3)(B), by inserting ``make payments on
     covered operations expenditures,'' after ``rent
     obligation,''.
                                 ______

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