116th CONGRESS 2d Session |
To amend the paycheck protection program of the Small Business Administration to include costs related to the provision of personal protective equipment as an allowable use of a covered loan, and for other purposes.
May 22, 2020
Ms. Finkenauer (for herself and Mrs. Radewagen) introduced the following bill; which was referred to the Committee on Small Business
To amend the paycheck protection program of the Small Business Administration to include costs related to the provision of personal protective equipment as an allowable use of a covered loan, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Protecting Paychecks and Employees Act of 2020” or the “PPE Act”.
SEC. 2. Inclusion of costs related to the provision of personal protective equipment in the paycheck protection program.
(a) Paycheck protection program.—Section 7(a)(36)(F)(i) of the Small Business Act (15 U.S.C. 636(a)(36)(F)(i)) is amended—
(1) in subclause (VI), by striking “and” at the end;
(2) in subclause (VII), by striking the period at the end and inserting “; and”; and
(3) by adding at the end the following new subclause:
“(VIII) costs related to the provision of personal protective equipment for employees or other equipment or supplies determined by the employer to be necessary to protect the health and safety of employees.”.
(1) DEFINITION OF EXPECTED FORGIVENESS AMOUNT.—Section 1106(a)(7) of the CARES Act (Public Law 116–136) is amended—
(A) in subparagraph (C), by striking “and” at the end; and
(B) by adding at the end the following new subparagraph:
“(E) payments made for the provision of personal protective equipment for employees or other equipment or supplies determined by the employer to be necessary to protect the health and safety of employees; and”.
(2) FORGIVENESS.—Section 1106(b) of the CARES Act (Public Law 116–136) is amended by adding at the end the following new paragraph:
“(5) Any payment made for the provision of personal protective equipment for employees or other equipment or supplies determined by the employer to be necessary to protect the health and safety of employees.”.
(3) CONFORMING AMENDMENTS.—Section 1106 of the CARES Act (Public Law 116–136) is amended—
(i) in paragraph (2), by striking “payments on covered mortgage obligations, payments on covered lease obligations, and covered utility payments” and inserting “payments described under subsection (b) (other than payroll costs)”; and
(ii) in paragraph (3)(B), by striking “, make interest payments” and all that follows through “or make covered utility payments” and inserting “, make payments described under subsection (b)”; and
(B) in subsection (h), by striking “payments for payroll costs, payments on covered mortgage obligations, payments on covered lease obligations, or covered utility payments” each place it appears and inserting “payments described under subsection (b)”.
(c) Prohibition on limiting forgiveness.—Section 1106(d) of the CARES Act (Public Law 116–136) amended by adding at the end the following new paragraph:
“(7) NO LIMITATIONS.—In carrying out this section, the Administrator may not limit the non-payroll portion of a forgivable covered loan amount.”.