Promoting Flexibility for Small Business Owners Act
Latest action · May 12, 2020 Referred to the House Committee on Small Business.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 12, 2020
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Promoting Flexibility for Small Business Owners Act
This bill extends certain deadlines related to loan forgiveness that are applicable to a loan recipient under the Paycheck Protection Program, which was established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the bill extends by at least one month the covered period during which a loan recipient must spend the loan to be eligible for loan forgiveness. The bill also extends by one month the deadline for a small business to rehire employees or eliminate salary or wage reductions to be eligible for loan forgiveness.
The bill authorizes the Small Business Administration, after considering specified criteria, to further extend the deadline for rehiring employees or eliminating salary or wage reductions for entities within certain industry categories.
Cosponsors 4
Members who signed on, in the order they did. All signed on May 12, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-OH | Brad R. Wenstrup | Original | May 12, 2020 |
| R-IL | Darin LaHood | Original | May 12, 2020 |
| R-OH | David P. Joyce | Original | May 12, 2020 |
| D-FL | Stephanie N. Murphy | Original | May 12, 2020 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Small Business Committee | Referred May 12, 2020 |
Actions 2
Everything that happened, newest first.
- May 12, 2020Introduced in House
- May 12, 2020Referred to the House Committee on Small Business.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 166, no. 89, May 12, 2020, page H1993.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- 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.
- Short Title(s) as Introduced
- Promoting Flexibility for Small Business Owners Act
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 1
Each version as it was printed, newest first.
- May 12, 2020Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
