A bill to modify the calculation of the maximum loan amount for certain farmers and ranchers under the paycheck protection program of the Small Business Administration, and for other purposes.
About This Bill
Committee
Latest Action · June 9, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship. (text: CR S2809)
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.
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