[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1246 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 1246

To amend the Small Business Act to allow ranchers and farmers to use an 
 alternative calculation for a maximum loan amount under the paycheck 
                          protection program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 23, 2021

  Mr. Kind (for himself and Mr. Fortenberry) introduced the following 
      bill; which was referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
To amend the Small Business Act to allow ranchers and farmers to use an 
 alternative calculation for a maximum loan amount under the paycheck 
                          protection program.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Paycheck Protection Clarification 
for Producers Act''.

SEC. 2. PAYCHECK PROTECTION PROGRAM LOAN CALCULATION FOR FARMERS OR 
              RANCHERS.

    (a) In General.--Section 7(a)(36)(V)(i) of the Small Business Act 
(as amended by the Economic Aid to Hard-Hit Small Businesses, 
Nonprofits, and Venues Act (Public Law 116-260)) is amended by striking 
subclause (I) and redesignating subclauses (II) and (III) as subclauses 
(I) and (II), respectively.
    (b) Effective Date; Applicability.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendments made by subsection (a) shall be effective as if 
        included in the CARES Act (Public Law 116-136; 134 Stat. 281) 
        and shall apply to any loan made pursuant to section 7(a)(36) 
        of the Small Business Act (15 U.S.C. 636(a)(36)) before, on, or 
        after the date of enactment of this Act, including forgiveness 
        of such a loan.
            (2) Exclusion of loans already forgiven.--The amendments 
        made by subsection (a) shall not apply to a loan made pursuant 
        to section 7(a)(36) of the Small Business Act (15 U.S.C. 
        636(a)(36)) for which the borrower received forgiveness before 
        the date of enactment of this Act under section 1106 of the 
        CARES.
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