S 4117 · 116th Congress 2019–2021, ended

Paycheck Protection Small Business Forgiveness Act

Introduced Jun 30, 2020 Originated Senate Sponsor Kevin Cramer R-ND

Fact sheet

Latest action · Jun 30, 2020 Read twice and referred to the Committee on Small Business and Entrepreneurship.

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.

IntroducedJun 30, 2020
Passed SenateNot reached
Passed HouseNot reached
To the PresidentNot reached
Became lawNot reached

Summary

Paycheck Protection Small Business Forgiveness Act

This bill modifies loan forgiveness under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019).

Specifically, the bill provides for automatic forgiveness of a paycheck protection loan that is not more than $150,000 if the recipient submits a one-page form. Further, it prohibits any enforcement or other action against a lender relating to loan origination, forgiveness, or guarantee based on the lender's reliance on certifications or documentation submitted by a loan applicant or recipient.

Cosponsors 32

Members who signed on, in the order they did. Signatures ran from Jun 30, 2020 to Dec 11, 2020, with 3 there on the day it was introduced.

Seat	Cosponsor		Signed on
D-AZ	Kyrsten Sinema	Original	Jun 30, 2020
D-NJ	Robert Menendez	Original	Jun 30, 2020
R-NC	Thom Tillis	Original	Jun 30, 2020
R-AZ	Martha McSally		Jul 1, 2020
R-WV	Shelley Moore Capito		Jul 1, 2020
R-AR	Tom Cotton		Jul 1, 2020
R-GA	David Perdue		Jul 21, 2020
R-KS	Jerry Moran		Jul 21, 2020
I-WV	Joe Manchin III		Jul 21, 2020
R-WY	John Barrasso		Jul 21, 2020
R-AR	John Boozman		Jul 21, 2020
R-TX	John Cornyn		Jul 21, 2020
R-GA	Kelly Loeffler		Jul 21, 2020
R-AK	Lisa Murkowski		Jul 21, 2020
R-ID	Mike Crapo		Jul 21, 2020

Show all 32 cosponsors

Actions 2

Everything that happened, newest first.

Jun 30, 2020Introduced in Senate
Jun 30, 2020Read twice and referred to the Committee on Small Business and Entrepreneurship.

Related bills 1

Companion bills and other measures the record links to this one.

Bill	Title	Relationship	Latest action
HR 7777	Paycheck Protection Small Business Forgiveness Act	Related bill	Jul 24, 2020

Subjects

Assigned by the Library of Congress. Policy area: Commerce.

Text 1

Each version as it was printed, newest first.

Jun 30, 2020Introduced in Senate

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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.