Summary: S.3918 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.3918. Bill summaries are authored by CRS.

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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.