PPP Extension Act of 2021
This bill extends the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), through June 30, 2021. Currently, the program is set to expire on March 31, 2021.
For the final 30 days of the program (i.e., from June 1 until June 30), the Small Business Administration may only process applications submitted prior to June 1, and it may not accept any new loan applications.
The bill excludes the budgetary effects of this bill from PAYGO scorecards under the Statutory Pay-As-You-Go Act of 2010 and from Senate PAYGO scorecards.
[117th Congress Public Law 6]
[From the U.S. Government Publishing Office]
[[Page 135 STAT. 250]]
Public Law 117-6
117th Congress
An Act
To amend the Small Business Act and the CARES Act to extend the covered
period for the paycheck protection program, and for other
purposes. <<NOTE: Mar. 30, 2021 - [H.R. 1799]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, <<NOTE: PPP Extension
Act of 2021. 15 USC 631 note.>>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``PPP Extension Act of 2021''.
SEC. 2. EXTENSION OF COVERED PERIOD FOR PAYCHECK PROTECTION
PROGRAM.
(a) In General.--Section 7(a)(36)(A)(iii) of the Small Business Act
(15 U.S.C. 636(a)(36)(A)(iii)) is amended by striking ``March 31, 2021''
and inserting ``June 30, 2021''.
(b) Funding.--Section 1102(b)(1) of the CARES Act (Public Law 116-
136), as amended by section 323 of the Economic Aid to Hard-Hit Small
Businesses, Nonprofits, and Venues Act (Public Law 116-260), <<NOTE: 134
Stat. 2018.>> is amended by striking ``March 31, 2021'' and inserting
``June 30, 2021''.
(c) <<NOTE: 15 USC 636 note.>> Restriction.--From June 1, 2021,
through June 30, 2021, the Administrator of the Small Business
Administration shall not accept new lender applications for loans under
paragraph (36) or (37) of section 7(a) of the Small Business Act (15
U.S.C. 636(a)) and shall only process such lender applications that have
been submitted to the Administrator before June 1, 2021.
SEC. 3. DETERMINATION OF BUDGETARY EFFECTS.
(a) In General.--The budgetary effects of this Act shall not be
entered on either PAYGO scorecard maintained pursuant to section 4(d) of
the Statutory Pay-As-You-Go Act of 2010 (2 U.S.C. 933(d)).
(b) Senate Paygo Scorecards.--The budgetary effects of this Act
shall not be entered on any PAYGO scorecard maintained for purposes of
section 4106 of H. Con. Res. 71 (115th Congress).
Approved March 30, 2021.
LEGISLATIVE HISTORY--H.R. 1799:
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CONGRESSIONAL RECORD, Vol. 167 (2021):
Mar. 16, considered and passed House.
Mar. 25, considered and passed Senate.
DAILY COMPILATION OF PRESIDENTIAL DOCUMENTS (2021):
Mar. 30, Presidential remarks.
<all>
Received in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 11.
Motion to proceed to consideration of measure made in Senate. (CR S1641)
Cloture motion on the motion to proceed to the measure presented in Senate. (CR S1641)
Cloture on the motion to proceed to the measure invoked in Senate by Yea-Nay Vote. 96 - 4. Record Vote Number: 136. (CR S1746)
Roll Call #136 (Senate)Motion to proceed to measure considered in Senate. (CR S1746)
Motion to proceed to measure considered in Senate. (CR S1792)
Motion to proceed to consideration of measure agreed to in Senate by Unanimous Consent.
Measure laid before Senate by motion. (consideration: CR S1792-1800)
Point of order under section 404(a) of S.Con. Res. 13, 111th Congress, against the measure raised in Senate.
Motion to waive all applicable budgetary discipline with respect to the measure agreed to in Senate by Yea-Nay Vote. 64 - 36. Record Vote Number: 139. (CR S1797)
Enacted as Public Law 117-6
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Passed/agreed to in Senate: Passed Senate, under the order of 3/24/2021, having achieved 60 votes in the affirmative, without amendment by Yea-Nay Vote. 92 - 7. Record Vote Number: 140.
Roll Call #140 (Senate)Passed Senate, under the order of 3/24/2021, having achieved 60 votes in the affirmative, without amendment by Yea-Nay Vote. 92 - 7. Record Vote Number: 140.
Roll Call #140 (Senate)Message on Senate action sent to the House.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 117-6.
Became Public Law No: 117-6.