Text: H.R.6672 — 116th Congress (2019-2020)All Information (Except Text)

There is one version of the bill.

Text available as:

Shown Here:
Introduced in House (05/01/2020)


116th CONGRESS
2d Session
H. R. 6672


To amend the CARES Act to increase the authority for commitments and appropriations for paycheck protection program, and for other purposes.


IN THE HOUSE OF REPRESENTATIVES

May 1, 2020

Mr. Green of Texas introduced the following bill; which was referred to the Committee on Small Business


A BILL

To amend the CARES Act to increase the authority for commitments and appropriations for paycheck protection program, and for other purposes.

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

SECTION 1. Increased authority for commitments and appropriations for paycheck protection program.

Title I of division A of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136) is amended—

(1) in section 1102—

(A) in subsection (b), by striking “June 30, 2020” and all that follows through “for such loans” and inserting “June 30, 2020, the amount authorized for commitments for such loans”; and

(B) by adding at the end the following new subsection:

“(f) Authorization of appropriations for the paycheck protection program.—During the period beginning on the date of the enactment of this subsection and ending on the date that is 90 days after the date on which the ‘Proclamation on Declaring a National Emergency Concerning the Novel Coronavirus Disease (COVID–19) Outbreak’ (issued March 13, 2020) no longer has force or effect, there is authorized to be appropriated such sums as may be necessary for commitments for loans authorized under section 7(a) of the Small Business Act (15 U.S.C. 636(a)), including loans made under paragraph (36) of such section.”; and

(2) in section 1107—

(A) in subsection (a), by striking paragraph (1) and redesignating subsequent paragraphs accordingly; and

(B) by adding at the end the following new subsection:

“(d) Direct appropriation.—During the period beginning on the date of the enactment of this subsection and ending on the date that is 90 days after the date on which the ‘Proclamation on Declaring a National Emergency Concerning the Novel Coronavirus Disease (COVID–19) Outbreak’ (issued March 13, 2020) no longer has force or effect, there is authorized to be appropriated such sums as may be necessary under the heading ‘Small Business Administration—Business Loans Program Account, CARES Act’ for the cost of guaranteed loans as authorized under paragraph (36) of section 7(a) of the Small Business Act (15 U.S.C. 636(a)).”.


Share This