S.3918 - Paycheck Protection for Producers Act116th Congress (2019-2020) |
|Sponsor:||Sen. Thune, John [R-SD] (Introduced 06/09/2020)|
|Committees:||Senate - Small Business and Entrepreneurship|
|Latest Action:||Senate - 06/09/2020 Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S2809) (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.3918 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (06/09/2020)
Paycheck Protection for Producers Act
This bill modifies the Paycheck Protection Program, established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), by allowing certain farmers to calculate (or recalculate) their paycheck protection loan amount based on 2019 gross income.
Under current law, such farmers must calculate their paycheck protection loan amount based on net income.